Mid-Week Forecast – dollar stays firm despite risk-on sentiment

The dollar index edged higher on Tuesday and remains steady to push for a significant recovery ahead of job data on Wednesday and Friday. Aussie growth slower but beat estimates. Meanwhile, oil traders will weigh in on the OPEC+ decision today. What are the major risk drivers traders should watch out for? A mixed sentiment […]

Mid-week Forecast – Dollar pare losses to attempt bullish retracement

The dollar cut back losses during Wednesday’s Asian session as the index retraced to 93. Ahead of the London open, the Sterling and Yen joined the greenback on the gainers list while Swissy falls further as CAD and Aussie retreat slightly. What’s coming ahead? There is little to talk about on the economic calendar on […]

US CPI Preview – how inflation report could drive the Dollar and EURUSD

The dollar stays firm ahead of the US inflation reports coming later today. The index is close to breaking toward its highest level in over four months. However, the rally is squeezing around a key resistance level.  The dollar continues to dominate its peers, gaining the edge from the recent tapering comments from Fed members. […]

Technical Analysis: Oil falls below major resistance, how deep could it go?

So far in August, WTI has shed over 7% after hitting a strong resistance level around $77. How further downside should traders expect? It’s a popular fact that the world runs on energy thus the black commodity (oil) reflects the global economic growth. Since Covid, we have seen a new face of the oil market. […]

Market Forecast: Gold bulls look for momentum to breach 1900

The Gold bullish trend is back to full effect as the treasury yield and dollar look downbeat following Friday’s NFP miss. How high could the yellow metal go this week? After a fast collapse that was just shy of the 1850 psychological level, Gold resumed the long-term bullish trend as it rallied nearly 400 pips […]

Post-NFP Analysis and Forecast – What next for DXY and EURUSD?

The US added 559,000 new jobs in May. The outcome was good but way below the market’s forecasts of 650k. CAD job data also same worse at -23.5k as more than expected jobs were lost in May.  The market was disappointed with another job data miss in the US. Today’s 559k NFP meant that the […]

Gold Forecast: Treasury Yield rebound might pressure the yellow metal

The US 10-year bond yield is set to recover from the slumps of the last two weeks. However, this might pressure the high-flying Gold to a much expected bearish correction. The yield collapsed to 1.55% about a week ago after some Fed officials reiterated that inflation would adjust with the economic adjustment. The dip came […]

Market Analysis ahead of FOMC – what next for Dollar and Gold?

The market risk tone is moderately off on Wednesday as the dollar index recovers close to 90. Meanwhile, the stock market bled ahead of tonight’s FOMC minutes. China’s ban on crypto weigh on Bitcoin which further plummets below $40,000.  Market Wrap The dollar is finding support at 89.7 early on Wednesday. DXY is on course […]

GBPUSD hits 1.42 amid better Job Data and a Plunging Dollar – what next?

GBPUSD hits 1.42 on Tuesday as the dollar continues to wear out. The cable is close to breaking the year’s high at 1.4245. How further high can it go? The support at 1.4 is strong enough to propel the Sterling above 1.42 for the first time in nearly three months. That means GBPUSD has gained […]

Market Forecast: Gold faces a critical resistance ahead of fresh retracement

Gold is all up as the bulls are finally set on a journey to another record high. However, with the treasury yield bound to have one more rally, the yellow metal might start a retracement as it approaches a key resistance level. Isn’t it clear now that the long-term bullish trend has resumed? It will […]