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AUD/USD, USD/JPY in focus for RBA and BOJ meetings: Asian Open
1-day implied volatility for USD/JPY has risen to 320% of its 20-day average ahead of today's BOJ meeting, to show volatility is expected. And the best chance of AUD/USD enjoying its own volatility is if the RBA finally ditch their hawkish bias.
Crude oil analysis Strong Chinese demand fuels rally
Crude oil analysis: China set to import record volumes of Russian oil in March, as oil extends weekly breakout ahead of a busy week for financial markets.
USD/JPY analysis: BoJ and FOMC Meetings Key Focus in Financial Markets – Currency Pair of the Week
The USD/JPY will face a major test in the week ahead, with both the Bank of Japan and US Federal Reserve set to make monetary policy decisions a day apart. The USD/JPY has managed to recover strongly, rising from around 146.50 to above 149.00 in a few days. The recovery has been driven in part because of a rebound in bond yields a stronger dollar.
EUR/USD, FTSE Forecast: Two trades to watch
EUR/USD looks to Eurozone inflation data ahead of the FOMC rate decision. FTSE struggles on central bank jitters, and after China data,
Crude oil consolidates bullish break, gold heavy after record run
How many rate cuts the Federal Reserve signals for 2024 could have an outsized impact on how commodities such as crude oil and gold perform longer-term.
USD/CAD weekly forecast: Pair could rise further with CAD CPI, Fed rate decision due
USD/CAD rose last week and could extend those gains towards 1.36 as attention turns to Canada CPI and the Federal Reserve monetary policy meeting.
EUR/USD weekly outlook: Early stalemate before Fed fireworks begin
It’s going to be a massive week for EUR/USD traders with major central central bank decisions, inflation updates from around the world, flash PMIs to sink your teeth into along with a busy ECB speaking calendar. But in the end, one event will likely override all others: the Federal Reserve’s March FOMC interest rate decision.
GBP/USD analysis: FOMC, BOE and Key Data on Tap for Cable
All eyes are on the FOMC and dot plots, with pound trades facing additional test with BoE rate decision, CPI, and retail sales all to come in the week ahead. GBP/USD technical analysis shows bullish trend is losing momentum.
USD bears scramble, USD/JPY eyes breakout after US data: Asian Open
US dollar bears scrambled for cover following hot US economic data ahead of next week’s Fed meeting, helping USD/JPY rise to a 5-day high and eye a potential breakout today.
Big session for ASX bulls as uptrend support gives way
Friday looms as an important day on the directional risks for Australia’s ASX 200 with futures puncturing through uptrend support overnight dating back to when the Fed pivoted away from rate hikes in early November. Recent history suggests it may pay to wait to see whether the break sticks.
EUR/USD analysis: Hot US inflation and rising oil prices support dollar
Stronger-than-expected US PPI sends dollar and yields higher, while rallying crude oil prices further fuel inflation concerns. But US retail sales point to a struggling consumer which could limit dollar’s gains.
Crude oil analysis: WTI breaks $80 barrier
Factors supporting oil price include optimism over China, bullish forecast from IEA and general strength in commodities.
USD/JPY, DAX Forecast: Two trades to watch
USD/JPY forecast: The pair rises ahead of a drop in US data. DAX forecast: The German index rises to a new all-time high.
GBP/USD, gold in focus for US PPI, retail sales: European Open
GBP/USD has formed a bearish reversal pattern beneath a failed breakout level, and gold looks set to retrace lower ahead of US PPI data.
Hold your horses before buying copper’s bullish break
Those considering buying the break may want to look at copper’s lousy track record when it’s been this overbought on the four hourly chart in the past.
WTI crude oil looks set to break $80: Asian Open – March 14, 2024
After several weeks of choppy trading conditions, momentum has turned higher on WTI crude oil and a breakout above $80 is on the radar.
Gold, silver and copper analysis: Metals rally on China optimism and weaker dollar
Gold, silver and copper all rally as US dollar drops despite hot inflation, with base metals finding additional boost from optimism about Chinese demand. Silver analysis suggests the grey metal could be in for more gains, while gold analysis point to a new record high.
NASDAQ 100 Forecast: QQQ muted ahead of more data tomorrow
US stocks point to a muted start after yesterday's rally. Investors have shrugged off hotter-than-forecast inflation and remain firm that the Fed will cut rates in the June meeting. US economic data is in short supply today. Attention will be on retail sales and producer prices later in the week. Oil prices pop on an upbeat demand outlook from OPEC.
GBP/USD analysis: Cable rebounds after US CPI-related drop
After the US dollar failed to find too much love from hot CPI, the cable was looking to recover along with other major pairs. The UK economy rebounded 0.2% in January, which helped to provide additional support to the pound. From the US, retail sales, PPI and UoM surveys are all still to come this week.
FTSE, EUR/USD Forecast: Two trades to watch
FTSE rises as the economy returns to growth, EUR/USD holds steady with ECB speakers & industrial production data due
The seeds for iron ore’s latest lurch lower were sown last week
Iron ore futures are in an increasingly ugly bear market, spiraling lower since the beginning of the year after defying bears for what seemed to be an eternity in 2023. With the price catching up to what fundamentals had been warning for months, traders are wondering how far the move can extend?
USD/JPY seems best bet for bulls amid a mixed US dollar environment
The US dollar rose for a second day, but its bearish reversal candle makes it less appealing to bulls. Yet USD/JPY shows promising signs of bullish mean reversion ahead of next week's BOJ and FOMC meetings.
Born of pessimism and now scepticism, Chinese stocks are on the cusp of bull markets
Bull markets are born on pessimism, grown on scepticism, mature on optimism, and die on euphoria. The stealth rally in China's A50 and Hong Kong's Hang Seng is keeping to the script.