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united_kingdom_02

GBP/USD, FTSE Forecast: Two trades to watch

GBP/USD awaits the BoE rate decision. FTSE 100 rises ahead of the BoE rate decision.

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Today 09:28 AM
commodities trading

Silver leads the breakout for gold, but resistance looms

Silver broke above $30 to reach a 9-day high today, before gold tried to mimic its move with limited success. And with silver stalling around resistance, I remain suspicious of the move higher on gold.

china_02

USD/CNH hits 2024 highs as PBOC loosens grip on yuan

The People’s Bank of China (PBOC) continues to loosen its grip on the Chinese yuan, sending USD/CNH highs not seen since late 2023 on Thursday. Given the influence the yuan has on emerging market and other Asian currencies, the technical break may have global ramifications if it sticks.

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Today 06:17 AM
Close-up of market chart

USD/CHF traders are nervous of being ‘caught short’ ahead of SNB

Futures traders may be heavily net-short Swiss Francs, but the rapid rise of the currency this week ahead of the SNB meeting suggests some are wary of being caught short a less-dovish central bank.

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Research

Hang Seng leads the way, ASX and China A50 set to follow?

The Hang Seng enjoyed its best day in three months. And with key support levels for the China A50 and ASX 200 holding, perhaps they can try to close the gap this week.

NZD/USD: New Zealand exits recession as the Kiwi contemplates upside

New Zealand is no longer in recession with economic activity expanding 0.2% in the first quarter, leaving it 0.3% higher than a year earlier. Markets has been looking for slightly softer numbers at 0.1% and 0.2% respectively. NZD/USD is pushing higher.

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Today 12:17 AM
Forex trading

EUR/USD outlook remains as clear as mud

FX investors will look ahead to two major central bank decisions on Thursday and US weekly jobless claims figures, building permits and the Philly Fed Manufacturing Index, which could impact the short-term EUR/USD outlook. But the main focus will be on France’s snap election taking place on June 30.

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Yesterday 05:31 PM
Research

FTSE 100 Forecast Boosted by CPI and Crude Rally Ahead of Elections

The FTSE moved moderately higher after the UK’s inflation rate fell to the Bank of England’s 2% target ahead of for the central bank’s rate section on Thursday.

united_kingdom_03

GBP/USD, Oil Forecast: Two trades to watch

GBP/USD rises as inflation finally reaches the BoE's 2% target.Oil steadies amid geopolitical concerns and a build in crude stockpiles.

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Yesterday 09:43 AM
Molten metal

Hang Seng, copper rout reverses course, turning point in the making?

Hang Seng's strong correlation with COMEX copper and SGX iron ore futures over the past month suggests many traders are using it as a mechanism to speculate on the outlook for Chinese industrial activity, especially the housing market.

Research

AUD/JPY nears 2013 high, focus shifts to Australian inflation report

A relatively hawkish meeting from the RBA has supported AUD over the past 24 hours, sent AUD/JPY to an 11-year high and made next week's inflation report the more important.

gold_03

Gold dancing to its own tune, placing emphasis on price for direction

Gold has been dancing to its own tune recently. The strong, positive correlation with other metals prices has weakened over the past month. So too its relationship with the US dollar and real US bond yields, its traditional drivers – it’s basically nonexistent. The lack of key drivers puts more emphasis on the price action for directional clues.

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Yesterday 03:17 AM
Forex trading

158 continues to defy USD/JPY bulls, AUD/USD rebounds in style

Weak US retail sales alongside a relatively hawkish RBA statement gave AUD/USD a decent lift from range lows and further strengthened a case for a top to form on USD/JPY.

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