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Multiple Euro bank notes in 20€, 50€ and 100€

EUR/USD, GBP/USD Forecast: Two trades to watch

EUR/USD extends gains ahead of ECB Lagarde’s speech. GBP/USD holds steady, awaiting the next catalyst.

Oil drilling in sea

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.

Currency prices

USD/JPY analysis: Forex Friday – February 23, 2024

The US dollar remains fundamentally supported, especially against lower-yielding JPY, although it has not been doing so great lately against other major currencies thanks to the positive risk appetite, with US equity markets surging to record highs. The week ahead features the RBNZ rate decision, as well as US GDP and Core PCE among other highlights.

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February 23, 2024 07:30 AM

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Market chart

AUD/USD falters at the 200-day MA, ASX 200 eyes record high

AUD/USD rose for a seventh day yet left a prominent reversal candle at the 200-day EMA. Positive sentiment for the stock market could see the ASX 200 retest or even break to a new record high.

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February 22, 2024 04:43 PM
Close-up of market chart showing downtrend

Gold analysis: Rising yields could send metal below $2,000 again

The opportunity cost of holding gold rises with bond yields on the rise on stronger and amid a racier US equity market. Gold technical analysis suggests a potential break below $2015 could initiate renewed selling pressure

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February 22, 2024 12:47 PM
Multiple Euro bank notes in 20€, 50€ and 100€

EUR/USD analysis: Dollar weakness could be temporary

Eurozone PMIs mixed as focus turns to US data. The dollar weakness is not fundamentally justified, though, which means the EUR/USD may weaken again. EUR/USD technical analysis: 1.0890-1.0900 is key resistance

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February 22, 2024 05:45 AM
germany_01

DAX, USD/JPY Forecast: Two trades to watch

DAX rises to a record all-time high after Nvidia results & despite mixed PMIs, USD/JPY consolidates around 150.00 ahead of US PMIs & post FOMC minutes.

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February 22, 2024 04:25 AM
Research

DAX futures, Nikkei 225 hit record highs: European open

It was a lively session for equity traders in Asia on Thursday, with the Nikkei 225 and DAX futures hitting record highs. The Nikkei made its inevitable run to 39k and touched a record high, by a cat's whisker.

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February 22, 2024 12:12 AM
Research

AUD/JPY nears 17-month high, ASX 200 looks set to bounce: Asian Open

AUD/JPY has fast approached a pivotal level to hint that an eventual breakout could be on the cards, even if not immediately. The ASX 200 looks sets to bounce after positive earning from Nvidia lifted Wall Street futures after market hours.

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February 21, 2024 05:21 PM
Energy

Crude oil analysis – February 21, 2024

Technical levels and factors on Brent discussed in this article, ahead of the publication of global PMIs and crude inventories data, which could provide catalyst for a potential breakout.

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February 21, 2024 10:30 AM
Market trader analysing data

FTSE analysis: Disparity between UK and European stocks grows larger

HSBC and Glencore shares drop on disappointing earnings, although the overall positive appetite for global stocks and China’s latest efforts to shore up its stock market keeps the FTSE’s downside limited, as attention turns to the upcoming earnings results from Nvidia after the close.

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February 21, 2024 08:00 AM
united_kingdom_04

GBP/USD, EUR/USD Forecast: Two trades to watch

GBP/USD holds above 1.26 ahead of the FOMC minutes. EUR/USD holds above 1.08 as it waits for Fed minutes, eurozone consumer confidence.

china_05

If USD/CNH is the canary in the coalmine, USD/JPY might be in trouble

A bearish reversal pattern has formed on USD/CNH which implies a move down to 7.10. And if the yuan continues to strengthen, it could see the yen follow and scupper USD/JPY attempt at breaking 152.

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February 21, 2024 01:12 AM
japan_05

USD/JPY forecast: 151 seems plausible, 152 may be a stretch

USD/JPY is clinging to 150 despite the weaker US dollar on Tuesday, as there seems little reason for traders to bid the yen. And unless we receive a compelling reason to buy then yen via a surprisingly hawkish BOJ or broad risk-off environment, it becomes difficult to construct an overly bearish case for USD/JPY whilst the Fed remain quiet about rate cuts.

gold_06

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
gold_01

Gold analysis: Short-term outlook remains murky despite bounce

Given that the odds of rate cuts have been trimmed by hotter inflation data last week, this is increasing the opportunity cost of holding gold over bonds. Therefore, the short-term gains could evaporate soon. Gold is more likely to hit new records closer to time of rate cuts, though.

Research

DAX outlook: German index aims to reach new highs

What has driven the German index to record highs and can the rally persist? US investors are back, with Nvidia earnings coming into focus this week. DAX technical analysis shows index is testing key support.

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February 20, 2024 06:00 AM

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channel_03

USD forecast: Positioning hints at headwinds for USD, 2-year yield

Short bets against the US 2-year yield continue to diminish yet remain at a sentiment extreme. And as the yield flatlined above 5% in 2023 despite aggressive short positioning, it suggests its yield may struggle to retake 5% this time around. And that could prove to be a headwind for the USD.

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February 19, 2024 09:49 PM
Currency exchange rate board of multiple currencies

NZD, AUD take the lead in quiet trade but USD may not be done yet

NZD/USD and AUD/USD were the strongest pairs on Monday during quiet trade, but the USD shows the potential to bounce before a larger move lower, which could eventually allow AUD/USD to reach for 66c.

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February 19, 2024 05:12 PM
united_kingdom_03

GBP/USD drifts lower amid a lack of data

GBP/USD struggles around 1.26, holding onto last week's losses. The pair could continue to drift lower amid a quiet UK economic calendar. This week, US FOMC minutes and UK services PMI data will be in focus.

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February 19, 2024 10:54 AM
Currency exchange rate board of multiple currencies

USD/CAD analysis: Currency Pair of the Week – February 19, 2024

The USD/CAD will be among the busier of major currency pairs in what will likely be relatively quieter week, at least in so far as macro data is concerned. Given the closure of US markets for Presidents' Day and the majority of major data releases already published in preceding weeks, the week ahead will present few noteworthy macroeconomic highlights, aside from a select few.

Multiple Euro bank notes in 20€, 50€ and 100€

EUR/USD, FTSE 100 Forecast: Two trades to watch

EUR/USD inches higher but lacks conviction. FTSE 100 struggles as miners fall.

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February 19, 2024 04:55 AM
germany_01

DAX analysis: How long will the rally continue?

The German index hit another record high on Friday, but the risk of a potential correction in tech sector is increasing. For now, the DAX continues to point higher, which means the bears must continue to wait for the right signal.

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February 18, 2024 05:00 AM