Gold Price Rally Blocked by Resistance, Key US Jobs Report Nears
The precious metal has been on a strong run of late, fueled by lower US rate expectations. Traders are now looking ahead to the latest US jobs report.
British Pound (GBP/USD) Forecast: PM Truss in Focus Ahead of UK and U.S. Services PMI’s
Key services data for the UK and U.S. dominates the economic calendar while PM Liz Truss conference speech aims to restore confidence within her party. Cable tests 1.15.
Euro Holds High Ground as US Dollar Subdued on Market Optimism. Where to for EUR/USD?
The Euro is approaching parity again after US Dollar gave up some ground in light of a rosier outlook on the back of a perceived peak in hawkishness. If the…
ASX 200 and Nikkei 225 Technical Outlook: Range Outlook Reasserted
This week’s rebound in the ASX 200 and Nikkei 225 indices is likely a reaffirmation of the broader range. What are the levels to watch for a breakout from their…
Dollar Slide Aligns to Rebound in Risk Trends but What About Rates and Recession Forecasts?
Risk appetite has extended its exceptional start to October and the fourth quarter with the S&P 500 earning its biggest two-day rally since April of 2020. Given the lack of…
Dow Jones, S&P 500 Surge as Retail Traders Sell the Rips. Bullish Engulfings Offer Optimism
The Dow Jones and S&P 500 rallied the most over 2 days since April 2020. Retail traders have been selling the rip, which is a positive sign for Wall Street.…
Crude Oil Price Climbs Ahead of OPEC+ Meeting and a Sunny Outlook. Where to for WTI?
Crude oil continues to nudge higher in anticipation of flagged OPEC+ production cuts and the positive mood for markets more broadly. If supply is constrained will WTI go higher?
New Zealand Dollar Surges Against US Dollar, Australian Dollar After RBNZ Delivers 50-Basis Point Rate Hike
The New Zealand Dollar rose in immediate reaction to the Reserve Bank of New Zealand hiking its official cash rate (OCR) by 50-basis points, as expected.
Gold Price Climbs Above 50-Day SMA to Approach September High
The price of gold is on the cusp of testing the September high ($1735) as it trades above the 50-Day SMA ($1724).
APAC Markets Eye RBNZ as AUD Struggles Despite a Softer US Dollar
The Australian Dollar is struggling despite a risk-on tone across markets ahead of today’s rate decision from the Reserve Bank of New Zealand. Elsewhere, oil prices are climbing as OPEC…