Bitcoin bounces in style as Wall Street hits new highs
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USD/CNH, USD/JPY, AUD/USD: China’s spluttering economy weighs on Asian currencies
China’s fledgling economic recovery suffered another setback in April with activity indicators mostly disappointing, especially regarding the beleaguered property sector. The news weighed on the Chinese yuan and other Asian currencies, such as the Japanese yen and Australian dollar.
The US dollar may not be ready to roll over just yet: The Week Ahead
We'll need to wait until next week's COT report to see the full damage of the US inflation report to USD long positioning, but with key levels holding as support we may find mean reversion works in the dollar's favour next week.
Be cautious chasing COMEX copper higher with big bears lurking above $5
The upside in copper flagged last week has played out nicely, delivering a fresh contract high for the red metal on COMEX futures. However, the price action over the latter parts of this week has not been convincing, warning of growing near-term downside risk.
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USD/CNH, USD/JPY, AUD/USD: China’s spluttering economy weighs on Asian currencies
Today 04:48 AM
Be cautious chasing COMEX copper higher with big bears lurking above $5
Yesterday 10:58 PM
AUD/USD, ASX 200 eye a solid close for the week: Asian Open
Yesterday 10:20 PM
USD/CAD outlook dims as US data deteriorates further
Yesterday 02:50 PM
EURUSD Forecast: ECB Financial Review Meets April Highs
Yesterday 02:04 PM
AUD/USD, ASX 200 eye a solid close for the week: Asian Open
AUD/USD and the ASX 200 have flourished this week thanks to renewed bets of Fed cuts, even though softer employment and wages data for Australia rekindled hopes of a lower RBA cash rate.
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USD/CAD outlook dims as US data deteriorates further
The USD/CAD was back at the point of origin of Wednesday’s breakdown at 1.3630-1.3650 area. Could we see the Loonie head lower from here? This week’s disappointing US data certainly point to a dimmer USD/CAD outlook.
EURUSD Forecast: ECB Financial Review Meets April Highs
EURUSD Forecast: the pair is back up to April highs; are March highs next in sight?
Nasdaq 100 Forecast: QQQ steadies after jobless claims, Fed speak
US stocks pause for breath after yesterday's rally following cooler CPI data. While the data boosted rate cut optimism, NY Fed President Williams warned that more evidence of inflation cooling was needed in order to cut rates. Separately, Walmart is set to open sharply higher after beating earnings and revenue forecasts.
EUR/USD outlook remains positive, likely heading to 1.10
Despite the slow start to today’s session, the recent price action and improving eurozone sentiment suggests the EUR/USD outlook remains positive, with the exchange rate on course to potentially head towards the 1.10 handle.
USD/JPY, DAX Forecast: Two trades to watch
USD/JPY falls post-CPI & with jobless claims up next. DAX reaches record high as US CPI euphoria spreads.
GBP/USD: Trade setups for today’s important US jobless claims update
US jobless claims data will garner far more interest than usual later Thursday as traders assess whether last week’s unusually large increase was an anomaly or start of a new trend. Testing a key level on the charts, two-way risk created by the data makes GBP/USD a pair to keep on the radar.
Bitcoin bounces in style as Wall Street hits new highs
On Tuesday I outlined a bullish case for bitcoin futures whilst prices remained above $60k. One soft US CPI and retail sales report later, bullish range expansion has most certainly kicked in.
AUD/USD, AUD/JPY: Soft jobs report extinguishes risk of further RBA rate hikes
With unemployment spiking and broader measures of labour market slack increasing, the risk of strong wages growth sparking renewed inflationary pressures looks to have past.
AUD/USD breaks out, USD/JPY rolls over amidst worst day of 2024 for USD
The US dollar suffered its worst day of the year and Fed fund futures now imply with near certainty that the Fed will cut by September. And that saw AUD/USD breakout in style and USD/JPY roll over, breaking below two handles on Wednesday.
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