GBP/USD: Forecasting the Week Ahead
Following the latest US Consumer Price Index (CPI) data, keeping a close watch on upcoming public addresses from Federal Reserve officials is crucial for insights into the direction of the US dollar.
Given recent developments, traders shouldn't be surprised if central bank communication takes a more hawkish stance, signaling...
Will USDCHF breakout Tomorrow? (after US Inflation report)
USDCHF recently surpassed both its 50 and 100-hour moving averages, yet it remains confined within its 2024 trading range.
Fluctuations between risk-on and risk-off sentiments keep the pair moving between 0.84635 and 0.85294. Initially, bullish optimism followed comments from Atlanta Federal Reserve...
Gold: $2,025 - After US Inflation, What's Next?
Gold's short term prospects might be dependent on upcoming US inflation data for December. XAU/USD currently trades at $2,025, stepping back from an intraday high of $2,042.
On Thursday, the US will release the Consumer Price Index for December. The market is expecting a 0.3% monthly increase in Core CPI,...
The adage "buy the rumor and sell the news" might apply to Bitcoin with BlackRock and Fidelity’s potential Bitcoin ETF approval on the horizon.
In the event that the SEC denies the ETFs, market participants might eye downside targets below $41,500 and $41,250 if we get a wild swing to the downside.
Conversely, approval from the SEC may pave the way for an...
This week, the focus of many traders will be on US inflation data, which will provide valuable insights into the Federal Reserve's monetary policy outlook.
The forecasts indicate a potential 0.2% increase in both headline inflation for December and the core rate. On an annual basis, the headline inflation rate is anticipated to rebound to 3.2% from November's...
Oil traders overreacting to the wrong triggers?
Divisions within OPEC have caused WTI crude to fall below $74 per barrel, ending a three-day climb for the commodity.
Angola, which joined OPEC in 2007, said it is leaving the Organization of the Petroleum Exporting Countries. This move raised concerns about OPEC's capacity to stabilize global prices,...
Nasdaq weakness before Christmas?
Barely hanging on to gains in a streak lasting ten days, US stocks managed to recover from initial losses and were trading slightly higher on Wednesday. The attempt to secure a tenth consecutive session of gains pushed the Nasdaq 100 to a new record high of 16,830.
In December, the Nasdaq has seen an increase of over 5%, and...
What's next for Gold after $2,100 record? PCE report in sight
As attention in the financial markets shifts towards the upcoming US Personal Consumption Expenditures (PCE) inflation report set for release on Friday, its significance becomes apparent. This report holds the potential to provide crucial insights into future monetary policy adjustments. Moreover, its...
Oil's Next Move: Red Sea Conflict and $75?
BP has suspended all oil and gas shipments through the Red Sea due to a rise in attacks on cargo ships and a deteriorating security situation attributed to Iran-aligned Houthi militants in Yemen. This move has caused a 2% surge in oil prices, pushing WTI crude futures to $72.5 per barrel.
This development signals the...
Data emanating from Britain and Japan this week could mean that the GBPJPY is the currency to watch this week.
Japan's Bank of Japan (BoJ) is set to announce its final interest rate decision of the year on Monday.
Expectations from the BoJ are a little uncertain, prompted by remarks from Governor Ueda. Among various statements, he noted that the management of...
The Federal Reserve kept its interest rate as 5.25%-5.5% for its December 2023 decision (staying unchanged for a third consecutive meeting). This was in line with expectations, but the big news is that they indicated 75bps cuts in 2024.
This revelation has weakened the USD across the board with the Aussie dollar the best performer at +1.3%. GBP/USD and EUR/USD...
The US Federal Reserve (Fed) is set to announce its decision on Wednesday, followed by the Bank of Mexico (Banxico) on Thursday. Forecasts suggest that both central banks will maintain their current interest rates.
Recent indications from Banxico suggest a leaning towards a more accommodative monetary policy. However, Deputy Governor Irene Espinosa has expressed...
The market's attention will be fixed on the Federal Reserve's final policy meeting of 2023 scheduled for this Wednesday, with the expectation that the US will maintain interest rates at a 22-year high.
Investors will have an opportunity to scrutinize the Fed's statement and Chair Jerome Powell's press conference for any indications of potential rate cuts in 2024...
There is currently a 21% probability that the Bank of Japan (BoJ) will raise interest rates during its upcoming meeting on December 19. This would really send shockwaves through yen pairs on the day.
Yesterday’s huge gains in the yen against the US dollar and British pound are just a glimpse of the possible volatility this action could cause.
Yesterday BoJ...
In recent days, gold has seen a remarkable surge, reaching an all-time high of $2070, fueled by growing speculation surrounding the Federal Reserve's potential monetary easing in 2024. This surge coincides with mounting signs of a cooling U.S. labor market, which has captured the attention of traders and investors alike.
Traders are currently factoring in a 60%...
Digital gold up (BTC), spot gold down (XAU)
Bitcoin, often referred to as digital gold, has surged again, extending above $43,000. The crypto has maintained its positive momentum for five consecutive days now, marking a 15% increase over this period. At present, the price hovers around $43,300, after pulling back from a recent high of $44,011.
From a technical...
Bitcoin Peaks at $42,000 - What's Next?
In a new surge of momentum fueled by widespread optimism that the U.S. securities regulator may soon approve a spot bitcoin ETF, Bitcoin briefly surpassing $42,000 to reach a 20-month high.
There is a sense of optimism in the space regarding the potential approval of a bitcoin exchange-traded fund (ETF) by the U.S....
US dollar
Attention will be paid to key economic indicators that roll out over the course of the week such as the Non-farm Payrolls jobs report, JOLTs job openings, and the ISM Services PMI survey.
Moody's analysis suggests a cooling down of various labor market measures. The uptick in November jobs growth is attributed to the impact of the United Auto Workers...
