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WTI Crude Oil Forecast: Rejected at Resistance but Bullish Structure Remains

Oil prices have been very range-bound over the past few months but breakout potential remains as WTI has built an ascending triangle inside of the recent range.

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Nasdaq 100 Forecast :QQQ hovers around record highs in a quiet start

After soaring in the previous session, US stocks are pointing to a quiet open. Stocks surged to record highs yesterday, inspired by AI chip designer Nvidia's results and outlook. Today the US economic calendar is quiet. Some attention could go to Fed governor Christopher Waller's comments after he pushed back on the need for immediate rate cuts. The USD is set to fall this week - the first weekly decline in 2024.

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February 23, 2024 08:52 AM
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EUR/USD, Oil Forecast: Two trades to watch

EUR/USD is set for a weekly gains; German data is in focus. Oil is on track for a weekly loss on worries of high rates for longer.

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February 23, 2024 04:01 AM

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S&P500 Forecast: SPX hits a record high after Nvidia earnings

S&P 500 rises to a fresh all time high after blowout Nvidia results. Nvidia posed a 265% rise in revenue and a 769% rise in net earnings sending the share price 13% higher. Note that profits are rising by more than the share price! The market is overlooking US jobless claims which fell to 201k, supporting the Fed's view that it is too early to cut rates.

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February 22, 2024 09:10 AM
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Nasdaq 100 Forecast: QQQ slips ahead of FOMC minutes, Nvidia earnings

US stocks are heading for a weaker open as investors look cautiously ahead to the release of the minutes to the January FOMC meeting and to Nvidia earnings after the close. Investors will be looking to see whether the minutes push back on rate be expectations and whether Nvidia, the AI chipmaking giant can live up to the hype surrounding its stock and a future with AI.

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February 21, 2024 09:14 AM
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Gold rises on renewed Fed-cut bets, crude oil falters at resistance

Soft inflation figures from Canada and a poll of economists backing a June Fed cut sent gold higher on Wednesday, as traders refreshed their dovish bets. Crude oil has also faltered once more at a key resistance area.

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February 20, 2024 05:27 PM
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EUR/USD falters at 1.08 on CPI-eve, USD/JPY remains buoyant: Asian Open

EUR/USD snapped a 4-day winning Streak around a key resistance zone, and USD/JPY traded less than 50-pips from 150 ahead of a key YS CPI report.

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February 12, 2024 05:08 PM

EUR/USD, US dollar, Dow Jones, crude oil analysis: COT report

Traders increased their bearish exposure to EUR/USD futures at their fastest pace in 20 months last week, and large speculators increased their net-long exposure to US dollar index futures despite being on the cusp of flipping to net-short exposure the week prior.

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USD/JPY, gold, crude oil forecast: COT report – Feb 5, 2024

Bears continued to initiate fresh short bets against the Japanese yen, which points to further potential strength ahead of USD/JPY. Gold bulls trimmed longs for gold futures, and shorts continued to fall for crude oil.

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Nasdaq 100 Forecast :QQQ rises after earnings from Meta, AMZN & a strong NFP report

US stocks point to a mixed open, and Nasdaq futures are off session highs after US non-farm payroll data smashed forecasts, with 353k jobs added in January above 180k forecasts. December's numbers were also revised higher to 333k. Meanwhile, upbeat results from Meta and Amazon. Apple is set to fall despite beating profit and revenue forecasts.

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February 2, 2024 09:10 AM
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USD/JPY, Oil Forecast: Two trades to watch

USD/JPY looks to US non-farm payrolls. Oil falls across the week on Israel-Hamas ceasefire hopes.

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February 2, 2024 04:32 AM
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S&P500 Forecast: SPX rises after the Fed inspired selloff

US stocks are pointing to a positive open, recovering after a steep selloff yesterday when Fed Chair Powell pushed back on a March rate cut, saying that it was not his base case scenario. US jobless claims and Challenger cuts point to a slight weakening in the labour market ahead if tomorrow's non-farm payroll report. Big tech is in focus with Apple, Amazon and Meta due to report after the close.

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February 1, 2024 08:53 AM
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US dollar rallies, S&P 500, Dow Jones and Nasdaq tumble post FOMC

The Fed held rates and ruled out a March cut, which saw the S&P 500 suffer its worst day since September, the Nasdaq 100 falling around -1.8% and the Dow Jones form a bearish outside day at its record high. USD/JPY still looks good for a run to 150 to my technical eyes.

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January 31, 2024 05:13 PM
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S&P500 Forecast :SPX flat ahead of a busy week

US stocks are pointing to a flat open as investors sit on the sidelines ahead of a busy week with US tech stock earnings and the Federal Reserve interest rate decision due on Wednesday. The Fed is expected to leave interest rates on hold in January and the market is looking for clues over when the Fed may start to cut rates. Microsoft and Alphabet report earnings tomorrow after the close.

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January 29, 2024 09:13 AM
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EUR/USD, USD/JPY, AUD/USD, crude oil analysis: COT report – Jan 29, 2024

The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.

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S&P500 Forecast :SPX struggles after personal spending jumps

US stocks are pointing to a nixed open after US core PCE eased to 2.9% YoY in December, but personal spending jumped 0.7%, supporting the view that the US is heading for a soft landing, but the Fed may not need to cut interest rates soon. Intel is set to fall on the open after disappointing Q1 guidance.

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January 26, 2024 09:14 AM
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EUR/USD, Oil Forecast: Two trades to watch

EUR/USD falls after the ECB meeting & ahead of US inflation data. Oil hovers around a 2-month high.

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January 26, 2024 04:38 AM

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Nasdaq 100 Forecast: QQQ rises after Q4 GDP growth, Tesla falls

US stocks are heading for a higher start despite Tesla's disappointing outlook and after stronger-than-expected GDP data. US GDP rose 3.3% in Q4 annualized, ahead of the 2% forecast but down from 4.9% in Q3. Treasury yields declined after the data, lifting stocks and dragging on the USD. Earnings continued to roll in. Tesla points to an 8% fall after missing on both the top and bottom line and warning of slower growth in 2024.

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January 25, 2024 08:48 AM
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S&P500 Forecast: SPX hits fresh record highs as Netflix soars

US futures rise to record highs, boosted by tech stock earnings optimism and hopes that he US economy will achieve a soft landing. Netflix is set to open almost 10% higher after strong subscriber numbers and a Q4 earnings beat. US PMI data is due shortly and could support the soft landing narrative. Watch for Tesla earnings after the close.

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January 24, 2024 08:41 AM
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Dow Jones Forecast: DJIA eases from a record high, earnings are in focus

US stocks head for a muted start after record highs in the previous session. Amid a lack of economic data, all eyes are on a slew of earnings. Netflix will report after the close. Looking ahead, US Q4 GDP and core PCE are in focus towards the end of the week.

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January 23, 2024 09:13 AM
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S&P500 Forecast : SPX rises ahead of key data and earnings this week

US stocks are pointing to a higher open after reaching record levels last week. Optimism surrounding rate cuts drove stocks higher at the end of last year, and all three US indices are trading higher so far in 2024 despite a wobbly start. Attention this week will be on US Q4 GDP and core PCE, as well as earnings from the likes of Tesla and Netflix.

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January 22, 2024 09:04 AM
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SP500 Forecast: SPX rises with tech stocks leading the way

US stocks point to a higher open after gains in the previous session. Tech and chips stocks are once again in favour, lifting the indices higher, despite Fed officials playing down the need for early rate cuts.

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January 19, 2024 09:33 AM
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Crude oil, ASX 200 look ripe for a bounce: Asian Open

An averted government shutdown, AI optimism and firmer economic data helped push Wall Street higher which could benefit the ASX 200 today, and oil also perked up on upwardly revised demand outlooks.

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January 18, 2024 04:56 PM