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USD/JPY, DAX Forecast: Two trades to watch
USD/JPY rises despite the BoJ hiking rates and ahead of the Fed's rate decision tomorrow. The DAX struggles for direction ahead of wage growth and German ZEW economic sentiment data.
The US dollar could be undervalued if commodities continue to rip higher
Commodities are soaring, and of they continue to do so the US dollar could be undervalued as the case for any Fed cuts could evaporate.
AUD/USD, USD/JPY in focus for RBA and BOJ meetings: Asian Open
1-day implied volatility for USD/JPY has risen to 320% of its 20-day average ahead of today's BOJ meeting, to show volatility is expected. And the best chance of AUD/USD enjoying its own volatility is if the RBA finally ditch their hawkish bias.
Crude oil analysis Strong Chinese demand fuels rally
Crude oil analysis: China set to import record volumes of Russian oil in March, as oil extends weekly breakout ahead of a busy week for financial markets.
USD/JPY analysis: BoJ and FOMC Meetings Key Focus in Financial Markets – Currency Pair of the Week
The USD/JPY will face a major test in the week ahead, with both the Bank of Japan and US Federal Reserve set to make monetary policy decisions a day apart. The USD/JPY has managed to recover strongly, rising from around 146.50 to above 149.00 in a few days. The recovery has been driven in part because of a rebound in bond yields a stronger dollar.
Crude oil consolidates bullish break, gold heavy after record run
How many rate cuts the Federal Reserve signals for 2024 could have an outsized impact on how commodities such as crude oil and gold perform longer-term.
GBP/USD hints at sentiment extreme ahead of BOE, FOMC: COT report
With a BOE and FOMC meeting pending and net-long exposure for GBP/USD at or near a sentiment extreme, I cannot help but wonder if the pound it due at least a pullback. I also take a closer look at the US dollar index (DXY), gold and the Nasdaq 100.
Nikkei 225 longs favoured into BOJ and Fed rate decisions, Nvidia GPU conference
Recent price action in Nikkei 225 futures points to upside risks this week, indicating confidence among traders that even with major events such as rate decisions from the Bank of Japan and Federal Reserve, along with Nvidia’s GPU Technology Conference, the bull market that helped propel the underlying index to record highs is anything but finished.
USD/JPY Forecast: BOJ and Fed Enter the Arena, Yields in Focus
USD/JPY's key technical levels to watch in the coming days include possible resistance at 149.70 and 151.00, with support down at 148.70 and 145.85.
USD/JPY, Gold and GBP/USD analysis - Forex Friday, March 15, 2024
Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the US dollar, Japanese yen, gold and the pound ahead of a busy next week for central banks.
USD bears scramble, USD/JPY eyes breakout after US data: Asian Open
US dollar bears scrambled for cover following hot US economic data ahead of next week’s Fed meeting, helping USD/JPY rise to a 5-day high and eye a potential breakout today.
Japanese Yen Forecast: USD/JPY, EUR/JPY, and GBP/JPY in Play Ahead of BOJ
The long-awaited results from the Japan’s spring wage negotiations are winding down, and the results are generally what the BOJ wanted to see to exit its ultra-accommodative monetary policy. See the key levels to watch on USD/JPY, EUR/JPY, and GBP/JPY!
Crude oil analysis: WTI breaks $80 barrier
Factors supporting oil price include optimism over China, bullish forecast from IEA and general strength in commodities.
USD/JPY, DAX Forecast: Two trades to watch
USD/JPY forecast: The pair rises ahead of a drop in US data. DAX forecast: The German index rises to a new all-time high.
GBP/USD, gold in focus for US PPI, retail sales: European Open
GBP/USD has formed a bearish reversal pattern beneath a failed breakout level, and gold looks set to retrace lower ahead of US PPI data.
Commodities warning of shifting directional price risks
Gold, copper, silver, crude, cocoa – it’s a rarity to not come across a particular commodity that’s suddenly running hard. Every day there seems to be another one joining the increasingly lengthy list, providing a sense we may be at a turning point for the broader commodity complex.
Hold your horses before buying copper’s bullish break
Those considering buying the break may want to look at copper’s lousy track record when it’s been this overbought on the four hourly chart in the past.
Gold, silver and copper analysis: Metals rally on China optimism and weaker dollar
Gold, silver and copper all rally as US dollar drops despite hot inflation, with base metals finding additional boost from optimism about Chinese demand. Silver analysis suggests the grey metal could be in for more gains, while gold analysis point to a new record high.
The seeds for iron ore’s latest lurch lower were sown last week
Iron ore futures are in an increasingly ugly bear market, spiraling lower since the beginning of the year after defying bears for what seemed to be an eternity in 2023. With the price catching up to what fundamentals had been warning for months, traders are wondering how far the move can extend?
USD/JPY seems best bet for bulls amid a mixed US dollar environment
The US dollar rose for a second day, but its bearish reversal candle makes it less appealing to bulls. Yet USD/JPY shows promising signs of bullish mean reversion ahead of next week's BOJ and FOMC meetings.
EUR/USD, FTSE and ETH/USD analysis - Technical Tuesday, March 12, 2024
Welcome to another edition of Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this week’s report, we will analysis the EUR/USD, FTSE and Ether following recent bullish price action in all these markets.
Soft US CPI amplifies downside risk for US yields, USD/JPY and Nikkei
USD/JPY and Nikkei 225 futures have been heavily influenced by US bond yields recently, meaning Tuesday’s US consumer price inflation report looms as critical for how Japanese markets may fare over the short to medium term. The bias for all remains lower in the absence of another hot inflation number.
AUD/USD, ASX 200 pause for breath ahead of US CPI: Asian Open
With traders eager to price in Fed cuts, today’s US CPI could bolster the US dollar and see AUD/USD and the ASX 200 pull back further if the data comes in too hot.