Nasdaq 100 analysis: Stocks rise as cooling US labour market boosts rate cut bets
May 9, 2024 04:00 PM
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EUR/USD analysis: Attention turns to key US inflation data
The EUR/USD analysis is currently looking positive, and the bulls would love to see weaker US inflation data this week to inspire a potential breakout above the key 1.08 resistance level.
GBP/USD, DAX Forecast: Two trades to watch
GBP/USD unmoved as traders shrug off wage data. DAX eases from record high ahead of German ZEW economic sentiment & US PPI.
WTI crude oil remains trapped, bitcoin looks set for a bounce
Crude oil finds itself between a rock and a hard place where technical levels are concerned, although that doesn't mean it can't at least make a minor bullish breakout before another leg lower. Price action on bitcoin appears to be more constructive for bulls, at least over the near term.
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EUR/USD analysis: Attention turns to key US inflation data
Today 11:30 AM
GBP/USD, DAX Forecast: Two trades to watch
Today 07:58 AM
WTI crude oil remains trapped, bitcoin looks set for a bounce
Today 06:08 AM
EUR/USD: High bar for US economic data creates asymmetric upside risks
Today 04:45 AM
GBP/USD forecast: Volatility expected with UK data, Powell on tap
Today 02:43 AM
EUR/USD: High bar for US economic data creates asymmetric upside risks
it’s now up to incoming data and news flow to continue fuelling the bullish USD narrative, otherwise it risks sparking a reversal. We may be seeing the inception of such a move in EUR/USD right now.
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GBP/USD forecast: Volatility expected with UK data, Powell on tap
Incoming UK data today could be the difference between the BOE cutting or holding in June. Add into the mix US producer prices and Powell speech, GBP/USD us a key market for forex traders to watch today.
USD/CNH: AUD, NZD, JPY face hammering if Asia’s FX anchor comes loose
If you trade Asian currencies like the Japanese yen, Australian or New Zealand dollar, you should always keep a close eye on what’s happening in the Chinese yuan. You’re doing yourself a disservice if your not.
US dollar stabilises ahead of Powell, PPI, USD/JPY eyes 157: Asian Open
The US dollar has regained its footing heading into a Powell speech and US PPI report, whilst USD/JPY looks set to break resistance and head for 157.
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.
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.
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.
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