Nasdaq 100 analysis: Stocks rise as cooling US labour market boosts rate cut bets
May 9, 2024 04:00 PM
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Gold forecast remains positive as metal eases on profit-taking
Today’s 1% drop in gold prices appears to be driven by profit-taking, as it comes amid a quiet day for data and follows a decent 2.5% rally last week. However, our gold forecast remains bullish, with the precious metal potentially heading towards its third consecutive month of gains.
Dow Jones Forecast: DJIA extends last week's gain ahead of Fed speakers
US stocks are set to continue the recent bullish run as treasury yields fall and attention turns to Wednesday's CPI report. Dow Jones posted its best weekly performance since December last week, supported by earnings and signs of a weaker labour market. US Fed speakers are in focus today ahead of Wednesday's CPI report, Recent Fed speakers have supported the view that rates may need to stay high for longer.
GBP/USD forecast supported ahead of key US data – Currency Pair of the Week
GBP/USD has been supported by stronger UK GDP ahead of wages data on Tuesday. Meanwhile, the US dollar has been hit by signs of cooling labour markets ahead of key inflation data on Wednesday. GBP/USD technical analysis points higher after breaking a bearish trend.
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Gold forecast remains positive as metal eases on profit-taking
Today 03:00 PM
GBP/USD forecast supported ahead of key US data – Currency Pair of the Week
Today 12:30 PM
Oil, EUR/USD Forecast: Two trades to watch
Today 08:50 AM
AUD/USD: Cracks in Australia’s business outlook are starting to show
Today 03:06 AM
USD/JPY analysis: Will MoF/BoJ intervene again as focus turns to US CPI?
May 11, 2024 02:00 PM
Oil, EUR/USD Forecast: Two trades to watch
Oil struggles after mixed China data and on Fed rate cut uncertainty. EUR/USD inches higher with Fed speakers & US CPI data in focus.
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Futures traders reduce yen speculation after BOJ intervention: COT report
With asset managers and large speculators trimming long and short exposure to yen futures, their appetite to speculate on the currency appears to be waning after BOJ interventions.
AUD/USD: Cracks in Australia’s business outlook are starting to show
The latest NAB Business survey revealed a big slowdown in hiring in April, with new orders also declining at the fastest pace in several years. Importantly, the weakness coincided with a noticeable deceleration in up and downstream price pressures.
NZD/USD: New Zealand economic downturn worsening ahead of key RBNZ inflation survey
While that keeps the prospect of a near-term rate cut from the Reserve Bank of New Zealand on the table should inflationary pressures suddenly subside, for now, movements in NZD/USD continue to be dictated by sentiment on what the Federal Reserve may do with US interest rates in the months ahead.
AUD/USD weekly outlook: Patiently awaiting a breakout
The prospects of a weaker US dollar are growing which brings a potential breakout on the cards for AUD/USD, although it has some tough levels to crack first.
Nikkei 225, Hang Seng forecast: Tables are turning for Asia’s stock market giants
Japan’s Nikki 225 and Hong Kong’s Hang Seng have been like chalk and cheese coming out of the pandemic. As one surged, the other floundered. But the tide looks to be turning, and fast.
British Pound Forecast: GBP/USD Enters a Key Period With Everything to Play For
GBP/USD slipped last week on a moderately dovish BOE – what should traders be watching this week?
USD/JPY analysis: Will MoF/BoJ intervene again as focus turns to US CPI?
Investors will be looking forward to the release of Consumer Price Index (CPI) on Wednesday, which is going to be the next big catalyst for the dollar and markets in general. The USD/JPY outlook could change dramatically should Japan intervene again.
Equities weekly forecast: Walmart, Home Depot, Alibaba earnings previews
The health of the consumer will be in focus next week, with US inflation data, retail sales, and the start of retailers' earnings. Walmart and Home Deport will update the market. Meanwhile, Chinese e-commerce and cloud giant Alibaba will also release earnings, along with Chinese retail sales figures later in the week,
Nasdaq 100 Forecast: QQQ rises & is set for a weekly gain
US stocks extended gains from yesterday and are on track for a weekly rise as rate cut hopes dominate. Weaker-than-expected jobless claims after Friday's softer non-farm payroll data have boosted hopes that the Fed could cut rates in September. Meanwhile, upbeat earnings season has also helped the mood. Oil prices are set for a weekly rise as the demand outlook improves.
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