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EUR/USD, AUD/USD and USD/CAD forecast – Forex Friday
In this week’s edition, we discuss the EUR/USD, AUD/USD and USD/CAD forecast and look forward to the macro events in the week ahead.
AUD/USD, ASX 200 Analysis: Are the swing lows in for AUD/USD and the ASX?
A weaker USD has allowed the AUD/USD to recoup recent losses, whilst reduced bets of a Fed hike and a debt-ceiling deal with the Senate could be supportive of the ASX 200.
USD/CAD outlook: US dollar drops as June hike bets trimmed
The sell-off has been trigged by broad US dollar weakness ahead of the US nonfarm jobs report on Friday. Consequently, the USD/CAD outlook has turned bearish, at least in the short-term anyway.
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US dollar analysis: Will a strong NFP report force the Fed to hike?
The next major hurdle for the US dollar and the economy will be Friday’s NFP reading, which is expected to show nearly 200K net new jobs and wages to rise at 0.3% m/m
EUR/USD analysis: Cooler inflation fails to shift ECB hike bets
Investors’ focus now turns back to US data as speculation over whether the Fed will hike in June continues. Watch out for fresh EUR/USD analysis from the team as the data could shift Fed bets again.
Gold, ASX 200 Analysis: Morning Brief - 1st June 2023
Gold had an underwhelming finish to the month of May to say the least, closing at the low of the month. Yet gold continues to show signs that its hopes are perking up.
EUR/USD, Gold analysis: European open – 31st May 2023
Weak China PMI data has weighed on sentiment ahead of today's European open, helping to support gold ahead of the vote on the debt-ceiling bill in the House of Republicans.
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Brokers are middlemen, and exist across different industries – such as real estate and insurance. But what do they do in finance? And which type of broker do you need for your goals?
Euro analysis: Is EUR/USD breaking out after the debt ceiling deal?
EUR/USD's bullish move off support suggests we may finally be breaking out of May's big falling wedge pattern...
EUR/USD, DAX Analysis: European Open – 30th May 2023
EUR/USD is considering a break of 1.0700, and a potential bearish pattern suggests a target around 1.0600. But the longer 1.0700 holds as support, the greater the odds of a rebound.
USD/JPY pulls back from 6 months highs ahead of a busy data week
USD/JPY has pulled back to 140 - a level currently being defended in today's Asian session. But with a plethora of economic data from the US and Japan this week, we could close either side of it (and by quite some distance).
AUD/USD, ASX 200 Analysis: Market Brief - 30th May 2023
Whilst the ASX posted a strong gain yesterday, it seems the debt-ceiling deal has been priced in, and AUD/USD may have risen for a second day but we're seeking a swing trade short opportunity.
EUR/USD, gold, S&P 500 analysis: Commitment of traders report (COT)
The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.
Japanese yen analysis: USD/JPY probes 140 ahead of Core PCE
USD/JPY remains in a bullish short-term trend, with room to extend its rally toward 142.00 before encountering meaningful resistance...
EUR/USD forecast: Sentiment sours ahead of FOMC minutes
Thanks to hawkish rhetoric from ECB, traders are not so keen to slam EUR hard despite stock sell-off. A close above 1.0850 would enhance the EUR/USD forecast.
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NZD/USD analysis: The RBNZ’s latest 25bp hike could be their last
NZD pairs were lower after the RBNZ hiked for a 12th consecutive meeting and signalled they may have reached a peak rate of 5.5%. At least for now.
Gold forecast: Metal declines but outlook positive
Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here
A guide to market risk
Before you start trading, it’s important to understand the potential risks involved. Let’s take a look at the different types of market risks.
EUR/USD Analysis: Debt ceiling negotiations set to resume, PMIs up next
The debt ceiling negotiations drag on for at least another day (and likely for the rest of the week). For now we can focus on today’s flash PMIs and how EUR/USD reacts.
USD/JPY analysis: PMIs perk up, supply chain pressures ease
PMI data for Japan and Australian has surpassed expectations, which provides a positive lead for flash PMI data from Europe and the US. Meanwhile, USD/JPY bulls eye a move to 140.
AUD/USD, NZD/USD analysis: RBNZ to deliver a hawkish hike?
The RBNZ (Reserve Bank of New Zealand) are expected to hike by another 25bp tomorrow, despite 1 and 2-year inflation expectations plummeting at their fastest pace since the pandemic.