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 […]
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 […]
NFP Preview and Forecast – How US Jobs could influence Major FX
The US Bureau of Labour Statistics will release the May job reports later today. Meanwhile, the dollar has been in a bright mood after some encouraging data on Thursday prior to today’s event. Employment reports in Canada are expected at the same time. So, it’s expected to be another volatile day in the Forex market. […]
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 […]
Market Forecast – Will USD, S&P 500 and Bitcoin rise together in May?
The dollar is back on the front foot after Yellen’s rate comments. Also, equities are staging significant recovery despite rallying treasury yield. Oil rally pauses while Gold struggles further. Light macros ahead today but the dollar should surge further. Asian Wrap ahead of London Despite very robust earnings reports in the US, last week’s gains […]
Dollar recovers from the FOMC slump as Sterling and Euro falter
On Friday, the dollar is staging a fast recovery from the FOMC slump. The broad USD strength forced Sterling and Euro downside as the week draws to an end. Meanwhile, the happens despite the loss of momentum on the treasury yield. On Thursday, the FOMC came all dovish and the dollar slumped as a result. […]