Gold Price Forecast: Key Confluence Area in Sight Ahead of US CPI Data
Spot Gold eyes fresh highs as it reclaimed the psychological $2000 mark yesterday. Make or Break time for the precious metal?
British Pound (GBP/USD) Forecast Led by US CPI, FOMC Minutes and Gov Bailey
GBP/USD price outlook is in for a volatile afternoon today with key US economic data and the BOE’s Governor Bailey scheduled to speak.
US Dollar Gives up Ground Ahead of CPI Data and Japanese Yen Also Slips
The US Dollar softened today as the market awaits the latest US inflation gauge due out later today. There is potential for significant market impact from the data. Where to…
Major Bullish Break in KOSPI; ASX 200 Index’s Rally is Running into a Tough Barrier
KOSPI’s break higher this week indicates that South Korean equities could finally be catching up with some of its regional peers, while the Australia ASX 200 index’s three-week-long rally looks…
Crude Oil Price Finds Comfort Ahead of a Potential Breakout. Where to for WTI?
Crude oil prices have become ensconced in the elevated levels achieved by OPEC+ output target cuts while underlying market structures appear to be supportive for now. Will WTI go higher?
Natural Gas Prices Face Bullish Engulfing, Watch the 4-Hour for Follow-Through
Natural gas prices continue stabilizing around the February low. A bullish engulfing on the daily chart shows early signs of a turn higher. Watch the 4-hour chart for follow-through.
IMF Warns of Global Economic Slowdown, Core Inflation to Decline Slowly
The latest IMF World Economic Outlook – A Rocky Recovery – sees global output falling in 2023 with advanced economies hit the hardest.
Oil – US Crude IG Client Sentiment: Our data shows traders are now net-short Oil – US Crude for the first time since Nov 05, 2022 when Oil – US Crude traded near 91.88.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil - US Crude-bullish contrarian trading bias.
USD/JPY Price Forecast: Yen Faces Short-Term Pressure Following Ueda Inauguration
USD/JPY looks to rise as the new BoJ Governor vows to stick with easing monetary policy for now with price action and technicals also supporting further gains.
Gold Price Forecast Hinges on US CPI, XAU/USD Patiently Waits at $2000
Gold prices remain cautious ahead of some key US economic data tomorrow with today’s interest firmly set on Fed speakers.