News & analysis

AUD/USD has been hit by another ugly Australian employment report, sending RBA rate hike expectations sharply lower. Yet the relationships driving the currency have shifted since quarter-end, and improving risk appetite could provide the fuel for a recovery.

Recent trading sessions have become increasingly relevant for the Dow Jones, as the index has started to regain bullish momentum heading into the end of the week. Over the last three sessions, the DJIA has advanced by more than 0.6%, allowing buying pressure to regain prominence and raising the possibility of a more consistent short-term recovery.

Despite apparent fundamental headwinds, Bitcoin’s price has held up relatively well, bouncing sharply off $80K support - where could it head next?

Carnage may be overstating it a bit given that fresh ATHs were printed just a week ago but if you were reading the headlines, it would certainly seem to be more than just a -2.28% pullback from the high.

Gold is consolidating after a steep selloff, with momentum divergence raising the stakes for the next move ahead of the Fed decision.

Short-term price action around the Japanese yen has started to show some relative improvement over recent sessions. This can be seen in the recent performance of USD/JPY, which has now recorded three consecutive daily declines in favor of the Japanese currency, resulting in a depreciation of roughly 0.35% over the period.

For now, at least, my near-term gold outlook remains modestly bearish, even if I have a strong long-term bullish bias towards gold and especially silver.

EUR/USD was mired in an aggressive continuation of the sell-off after CPI yesterday, but a strong rally from the lows illustrates a stretched marked showing elements of exhaustion.

The US Dollar is testing major support despite hotter inflation as Fed pushback cools yields and forces markets to reassess the path for tightening.

U.S. stocks are falling after hotter-than-expected readings on producer prices and retail sales, while concerns over AI-related debt are also mounting.

Following the CPI-related drop yesterday, Nasdaq 100 futures have fallen further following a weak handover from Asian markets overnight. US stocks came under intense pressure after a hotter-than-expected inflation report revived bets on further Federal Reserve rate hikes and sent Treasury yields and the dollar higher. While both the dollar and yields subsequently dropped back to pre-CPI levels and more in the case of yields, the Nasdaq has failed to respond positively as concerns over AI trade remained.

GBP/USD rises after UK GDP boost and amid a weaker USD. Gold rises as Treasury yields and USD ease lower. PPI and retail sales data are up next.