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Gold rally wounded by bearish reversal but not beyond repair
In the history of major key reversals in markets, surely the move in gold we’ve just witnessed is right up there. It was brutal, turning what was initially interpreted as a significant bullish move to record highs into a moment that may have done lasting damage for the bullion price
S&P 500 forecast: SPX looks to data for policy clues as blackout period kicks in
S&P 500 is heading to a lower open amid a cautious market mood. After strong gains across November, on bets that the Fed is at peak rates and could cut next year, attention now turns to economic data for clues over the Fed's next move. US factory orders are due today but the main focus will be on Friday's non-farm payroll figures. Meanwhile Uber rallies on S&P 500 inclusion news and Coinbase soars as Bitcoin hits breaks above $40k.
Nasdaq 100 forecast: Stocks look cautiously to Fed Chair Powell's appearance
US stocks are set for a quiet open as investors look cautiously ahead to an appearance by Federal Reserve Chair Jerome Powell later today. His comments will come as the Fed's preferred measure of inflation cooled to 3.5% YoY in October and as the market wraps up a month of impressive gains. Optimism that the Fed could start to cut rates next year lifted the Nasdaq 100 11% this month, its best monthly gain since mid-2022.
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S&P 500 Forecast: SPX rises as Fed's preferred inflation gauge cools
Stocks are set to end November on a strong footing after US core PCE, the Federal Reserve's preferred inflation gauge cooled inline with forecasts. Core PCE eased to 3.5% YoY from 3.7%, supporting the view that the Federal Reserve has finished hiking interest rates. Attention now turns to NY Fed President Williams for his comments ahead of Fed Chair Powell speech tomorrow.
Nasdaq 100 forecast: Nasdaq 100 rises on rate cut optimism
US stocks are rising in risk on trade after comments from Federal Reserve officials raised expectations that the Fed was done hiking interest rates and is looking at when to start cutting rates. The market is now pricing in a 40% probability of a 25 basis point hike in March. Attention is shifting to tomorrow's inflation data for further clues over the path for rates.
AUD/USD threatening key level on slow progress in taming underlying inflation pressures
Headline Australian CPI undershot market expectations in October, although progress on taming underlying price pressures was disappointing, helping to boost AUD/USD.
Dow Jones forecast: Stocks set for a muted start ahead of consumer confidence data
Stocks are pointing to a subdued start as investors look ahead cautiously to Thursday's inflation data. Today consumer confidence figures are expected to show a slight deterioration in morale, Several Fed officials will speak across the day and could provide clues about the Fed's future path for interest rates. Retailers are in focus after Americans spent around $12 billion online on Cyber Monday.
S&P 500 forecast: Stocks hover around a 3-month high at the start of a busy week
US stocks are set for a mixed open, with the S&P 500 hovering around a 3-month high after four straight weeks of gains. Optimism that the Fed has finished hiking interest rates has boosted demand for stocks. This week's US inflation data could provide further clues over the Fed's future path for rates. Today e-commerce companies will be in focus amid high expectations for strong Cyber Monday shopping.
S&P 500 forecast: S&P 500 drifts on Black Friday
US stocks are set for a subdued open on Black Friday with the market open for half a day. Despite drifting today, stocks have had an impressive November, on track to be the best monthly gain in 3 years as data pointed to the Fed being at the end of its hiking cycle. Attention will be on US PMI data which is expected to tick lower.
S&P 500 forecast: S&P 500 edges higher after Nvidia results, mixed data
US stocks are heading higher after a mildly lower close yesterday. Investors digest the latest Nvidia results, along with falling jobless claims and durable goods orders. The Fed meeting minutes saw policymakers reiterate that rates should remain high for longer. Still the market is convinced that the next move by the Fed will be a rate cut. Nvidia beat forecasts on top and bottom line.
Nasdaq 100 forecast: Nasdaq 100 consolidates after recent rally
US stocks inch higher, consolidating after a strong rally across November. Expectations that the Fed is done hiking rates has boosted demand for equities. Investors are in wait and see mode ahead of the FOMC minutes tomorrow and Nvidia's earnings. Microsoft is in focus after hiring Sam Altman the ex-CEO of open AI who was ousted by the board on Friday.
Gold struggling despite softer US dollar ahead of key long-bond auction
Gold faces an interesting start to the week with the US dollar falling to fresh two-month lows ahead of a key US Treasury auction, the latter providing an obvious catalyst that could dictate whether we see a retest of resistance above $2000.
Dow Jones Forecast :DJIA rises cautiously and is set for strong weekly gains
The Dow Jones is heading for a modestly positive open, but is set to book strong gains across the week. Cooling inflation, lower treasury yields and bets that the Federal Reserve has finished hiking interest rates has helped to boost the DJIA by 1.9% this week, while the USD is on track for a steep weekly decline. Oil is also steadying after steep losses in the previous session on ample supply and demand outlook concerns.
S&P500 Forecast :S&P500 steady as jobless claims support dovish Fed narrative
US stocks are holding after a run higher this week. US jobless claims came in above forecasts, supporting the view that the US labour market is cooling, amid a slightly slowing economy after the Fed's aggressive rate hiking cycle. The market is convinced that the Fed is done hiking rates and the next move will be a cut. Several Fed officials are due to speak later. Earning from Walmart, Macy's and Cisco are in focus.
Gold, S&P 500: US dollar turning point may deliver significant upside
If Tuesday was a significant turning point on the outlook for US inflation, interest rates and dollar, it may have major ramifications for assets such as gold and the S&P 500.
Dow Jones Forecast :Dow Jones extends gains after PPI, retail sales data
US stocks are heading higher, extending gains from yesterday after PPI and retail sales data. PPI fell -0.5% MoM down from 0.4%, boding well for CPI to cool further. Meanwhile, retail sales fell less than expected. The data supports the view that inflation is cooling and the US economy could avoid a recession, lifting sentiment and stocks higher. Attention now turns to a high-stakes meeting between US President Biden & China's Xi Jinping.
AUD/USD, USD/CNH: Aussie dollar’s China proxy tag put to the test
AUD/USD is widely regarded as being a proxy for all things China: it’s economic performance, trends in financial markets and even the Chinese currency, the yuan.
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Nasdaq100 Forecast: Nasdaq100 soars after cooler CPI
US stocks are set to rise strongly on the open after US inflation cooled by more than expected, fueling bets that the Federal Reserve is done hiking interest rates. US CPI eased to 3.2%YoY from 3.7% in September. Core inflation also cooled. The data comes after the Fed left interest rates on hold in the November meeting but raise questions last week over whether another hike was needed.
S&P500 Forecast: S&P500 inches lower in a subdued start & after Moody's downgrade
US stocks are inching lower in subdued trade after strong gains in the previous week and after Moody's rating agency downgraded the US credit outlook to Negative from Stable. Additionally trades are looking cautiously ahead to tomorrow's inflation data, which could provide further clues over the likelihood of the Federal Reserve cutting interest rates again.
Gold vulnerable as upside risks for US yields build
US benchmark bond yields look like they may have bottomed in the near-term, an outcome that may generate additional headwinds for gold at time when it’s already struggling.
Nasdaq100 Forecast: Nasdaq100 rises as traders mull over Powell's remarks
US stocks are rising despite Fed Chair Powell's hawkish tilt yesterday. This comes after a week of Fed speakers pushing back against a dovish pivot.. US consumer confidence data is due .
Dow Jones Forecast :Dow Jones rises with jobless claims, Powell in focus
US stocks are looking to a positive start after US jobless claims pointed to a cooling in the jobs market and ahead of a speech by Federal Reserve Chair Jerome Powell. Continuous jobless claims rose by more than forecast suggesting that it was becoming harder for Americans that are unemployed to find a job . The data comes after Friday's weak NFP report and could add to bets that the Fed is done hiking rates. Fed Chair Powell may shed more light on the future path for interest rates.
S&P500 Forecast: S&P500 trades cautiously ahead of Fed Chair Powell's speech
US stocks are set for a subdued open amid a cautious mood ahead of Federal Reserve Chair Jerome Powell's speech shortly. His speech comes as the S&P500 index notches up its longest streak of winning days since 2021. As well as the Fed, earnings are still under the spotlight with Disney due to report. Meanwhile oil prices drop to a 3-month low on demand worries.