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USD Breaking News: US Dollar on Offer After Mixed CPI Report

U.S. DOLLAR ANALYSIS & TALKING POINTS US CPI: Headline – 5%; EST: 5.2% US CPI: Core – 5.6%; EST: 5.6% FOMC Minutes in focus later today. Money markets exhibit dovish re-pricing minimizing the chance of a rate hike in June.

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Euro Latest: EUR/USD In Limbo Ahead of the Latest US Inflation Release

EUR/USD Price, Chart, and Analysis EUR/USD is trapped in a tight range. Core US y/y inflation is expected to nudge higher.

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The US Bureau of Labor Statistics (BLS) inflation report, scheduled to be released . . . → Read More: Euro Latest: EUR/USD In Limbo Ahead of the Latest US Inflation Release

Gold Price Forecast: Key Confluence Area in Sight Ahead of US CPI Data

GOLD (XAU/USD) PRICE, CHARTS AND ANALYSIS:

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Gold (XAU/USD) FUNDAMENTAL BACKDROP

The Gold price has rallied higher in Asian trade with a session high of $2020.87 before surrendering some of those gains . . . → Read More: Gold Price Forecast: Key Confluence Area in Sight Ahead of US CPI Data

British Pound (GBP/USD) Forecast Led by US CPI, FOMC Minutes and Gov Bailey

POUND STERLING ANALYSIS & TALKING POINTS Will anything change regarding the BOE’s upcoming rate decision? US CPI the focal point for today but FOMC minutes cannot be overlooked. Key psychological break likely.

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GBP/USD FUNDAMENTAL . . . → Read More: British Pound (GBP/USD) Forecast Led by US CPI, FOMC Minutes and Gov Bailey

US Dollar Gives up Ground Ahead of CPI Data and Japanese Yen Also Slips

US Dollar, USD, US CPI, Japanese Yen, USD/JPY, Hang Seng Index – Talking Points The US Dollar slid slightly lower today with all eyes on US CPI Several Fed speakers crossed the wires with different perspectives If US CPI misses estimates, will USD/JPY break higher?

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. . . → Read More: US Dollar Gives up Ground Ahead of CPI Data and Japanese Yen Also Slips

IMF Warns of Global Economic Slowdown, Core Inflation to Decline Slowly

IMF World Economic Outlook Latest Analysis World output is seen falling to 2.8% this year from 3.4% in 2022. Advanced economies’ output slashed to 1.3% in 2023 from 2.7% last year.

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The latest IMF . . . → Read More: IMF Warns of Global Economic Slowdown, Core Inflation to Decline Slowly

USD/JPY Price Forecast: Yen Faces Short-Term Pressure Following Ueda Inauguration

USD/JPY PRICES, CHARTS AND ANALYSIS:

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USD/JPY FUNDAMENTAL BACKDROP

The Yen looks set to face some immediate selling pressure following the inauguration of Kazuo Ueda as the new Bank of Japan Governor. Murmurs have continued . . . → Read More: USD/JPY Price Forecast: Yen Faces Short-Term Pressure Following Ueda Inauguration

Gold Price Forecast Hinges on US CPI, XAU/USD Patiently Waits at $2000

GOLD ANALYSIS & TALKING POINTS US CPI and FOMC minutes keenly anticipated tomorrow. Fed’s Harker and Kashkari scheduled to speak later today. Bearish divergence vs bull pennant continuation?

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XAU/USD FUNDAMENTAL BACKDROP

Gold prices are . . . → Read More: Gold Price Forecast Hinges on US CPI, XAU/USD Patiently Waits at $2000

Oil Price Forecast: WTI and Brent Eye Further Downside as Demand Fears Return

CRUDE OIL PRICE, CHARTS AND ANALYSIS:

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WTI FUNDAMENTAL OUTLOOK

Crude Oil has failed to capitalize on last week’s jump in prices following the OPEC+ announcement as prices continue to range in the absence of . . . → Read More: Oil Price Forecast: WTI and Brent Eye Further Downside as Demand Fears Return

British Pound Latest – GBP/USD Starts the Week on a Positive Note

GBP/USD – Prices, Charts, and Analysis Cable eyes resistance at 1.2448. The US dollar gives back some of Friday’s NFP strength. US inflation data and the FOMC minutes are released on Wednesday.

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The British . . . → Read More: British Pound Latest – GBP/USD Starts the Week on a Positive Note

Gold Prices Fall as Traders Raise Odds of More Fed Tightening after Solid Jobs Data

GOLD PRICE OUTLOOK: Gold prices sink as traders increase odds of May FOMC interest rate hike following last Friday’s robust U.S. labor market data U.S. dollar strength in the FX space also undermines precious metals Despite Monday’s pullback, XAU/USD retains a bullish profile over the medium term

Recommended by Diego Colman . . . → Read More: Gold Prices Fall as Traders Raise Odds of More Fed Tightening after Solid Jobs Data

US Dollar Gains as May Hike Bets Rise, but Rates Outlook May Hinge on Inflation Data

US DOLLAR OUTLOOK: The U.S. dollar, as measured by the DXY index, rallies on Monday, boosted by rising U.S. Treasury yields Bond rates move higher after strong labor market results increase odds of May FOMC hike However, monetary policy expectations could shift in a more dovish direction if March U.S. inflation numbers come below . . . → Read More: US Dollar Gains as May Hike Bets Rise, but Rates Outlook May Hinge on Inflation Data

Q2 Top Trade Idea: Short USD/JPY on Fed Pause Signal, JPY Safe Haven Appeal

‘The Fed Hikes Until Something Breaks’

We all know the saying, ‘the Fed hikes until it breaks something’ and after the hundreds of billions of dollars worth of deposits were at risk in March 2023, we have to ask ourselves if something did indeed break? While bank stocks around the globe sold-off, the . . . → Read More: Q2 Top Trade Idea: Short USD/JPY on Fed Pause Signal, JPY Safe Haven Appeal

Q2 Top Trade Idea: Long USD/CAD, Rate Differential and Price Action Support Further Upside

Long USD/CAD: Rate Differential and Price Action Support Further Upside Narrative.

The Canadian Dollar has suffered against the Greenback since the Bank of Canada (BoC) announced a pause to its hiking cycle. The BoC started out very aggressively when hiking rates and if recent inflation data is anything to go by the BoC . . . → Read More: Q2 Top Trade Idea: Long USD/CAD, Rate Differential and Price Action Support Further Upside

TLT Outlook Turns Bullish as Recession Risks Grow, Awaiting Resistance Breakout

LONG-TERM BONDS LOOK ATTRACTIVE IN Q2

The U.S. economy has been extremely resilient despite the Fed’s fast-and-furious tightening campaign aimed at choking inflation. Time and again, labor market data has surprised to the upside, defying expectations, and signaling that employers continue to add to their ranks against all odds. In this context, household . . . → Read More: TLT Outlook Turns Bullish as Recession Risks Grow, Awaiting Resistance Breakout

Markets in the Second Quarter: S&P 500, US Dollar, Gold, Crude Oil, Euro, Recession Woes

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Below is a chart showing how various corners of financial markets performed in the first quarter. Bitcoin greatly outperformed and gold also did solidly. In the currency space, the British Pound outperformed the Japanese Yen, . . . → Read More: Markets in the Second Quarter: S&P 500, US Dollar, Gold, Crude Oil, Euro, Recession Woes

US Dollar Q2 Fundamental Forecast: USD Weakness to Make Headway as Fed Abandons Hawkish Pledge

US Dollar Weakness to Make Headway as Fed Abandons Hawkish Pledge

After a steep sell-off late last year and early 2023, the U.S. dollar, as measured by the DXY index, staged a strong recovery in February, bolstered by hotter-than-expected U.S. economic reports, including labor market and CPI data.

Strong business hiring, coupled with elevated . . . → Read More: US Dollar Q2 Fundamental Forecast: USD Weakness to Make Headway as Fed Abandons Hawkish Pledge

Oil Fundamental Forecast: WTI to Head Lower in Q2 as Fundamentals Weaken

OPEC Anticipates Lower (QoQ) Global Oil Demand in Q2

According to revised forecasts in OPEC’s monthly report for March, Q2 remains likely to see a drop in global oil demand compared to Q1, although the group now sees a slight improvement of an additional 70,000 barrels per day (bpd) compared to last month’s figures. . . . → Read More: Oil Fundamental Forecast: WTI to Head Lower in Q2 as Fundamentals Weaken

Euro Q2 Technical Forecast: EUR/USD Presents Attractive Price Action for Now

EUR/USD Technical Forecast: Unattractive Price Action for Now

The euro pushed higher against the U.S. dollar during the first quarter of 2023 and briefly reached its best level since April 2022 in early February. When risk-off mood erupted in global markets, sellers returned, preventing EUR/USD from clearing the 1.1035 area, a major technical . . . → Read More: Euro Q2 Technical Forecast: EUR/USD Presents Attractive Price Action for Now

Japanese Yen Q2 2023 Fundamental Forecast: Safe Haven Appeal to Keep Yen Supported

JAPANESE YEN KEY POINTS:

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JAPANESE YEN Q1 RECAP

The Japanese Yen has had an interesting Q1 to say . . . → Read More: Japanese Yen Q2 2023 Fundamental Forecast: Safe Haven Appeal to Keep Yen Supported

British Pound Q2 2023 Technical Forecast: GBP/USD and EUR/GBP

British Pound Q2 2023 Technical Forecast:

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The British Pound‘s technical outlook is neutral with the UK currency likely to be relatively stable to marginally firmer over the coming weeks. And that means we need to . . . → Read More: British Pound Q2 2023 Technical Forecast: GBP/USD and EUR/GBP

Gold Q2 2023 Technical Forecast: Uncertainty Lies Ahead for XAU/USD

The fundamental backdrop for gold as we head into Q2 of 2023 may be shifting by way of a less hawkish Federal Reserve. That being said, calling a dovish Fed may be too early to call with other economic factors creating a push/pull effect for the US central back, thus making their job . . . → Read More: Gold Q2 2023 Technical Forecast: Uncertainty Lies Ahead for XAU/USD

US Dollar Outlook – Direction of Travel May Be Lower as Jobs Data Overstates Strength

US DOLLAR FORECAST: The U.S. economy added 236,000 jobs in March, slightly below consensus estimates. Meanwhile, average hourly earnings cooled more than expected, easing to 4.2% y-o-y. The labor market report, however, may not entirely capture the fallout from the collapse of SVB and SBNY Despite the market reaction on Friday, the path . . . → Read More: US Dollar Outlook – Direction of Travel May Be Lower as Jobs Data Overstates Strength

March Jobs Report: Nonfarm Payrolls Rise by 236,000, Wage Growth Cools to 4.2%

MARCH LABOR MARKET REPORT: U.S. employers add 236,000 workers in March versus expectations of a gain of 239,000 jobs Meanwhile, the unemployment rate edges lower to 3.5%, one-tenth of a percent below consensus estimates For its part, average hourly earnings clock in at 0.2% m-o-m and 4.2% y-o-y

Recommended by Diego . . . → Read More: March Jobs Report: Nonfarm Payrolls Rise by 236,000, Wage Growth Cools to 4.2%

Australian Dollar Drops as Currency Markets Await US NFPs, Will AUD/USD Keep Going?

Australian Dollar, AUD/USD, Jobless Claims, NFPs – Asia Pacific Market Open: Australian Dollar falls as US jobless claims data briefly jitters markets All eyes now turn to US NFPs as cracks slowly emerge in the economy AUD/USD eyes an Ascending Triangle chart formation, support in focus

Recommended by Daniel Dubrovsky . . . → Read More: Australian Dollar Drops as Currency Markets Await US NFPs, Will AUD/USD Keep Going?

Bitcoin Poised for a Breakout as Possibility of a Demand Surge Grows

BITCOIN USD KEY POINTS: Bitcoin Prices Continue to Consolidate Within a Symmetrical Triangle Pattern. A Potential Demand Surge Could Give Bitcoin the Push it Needs to Test the $30000-$31200 Resistance Area. Both the Crypto and Bitcoin Fear and Greed Indexes are Now in Greed Territory. Will we See Another Bullish Cycle Like 2019 . . . → Read More: Bitcoin Poised for a Breakout as Possibility of a Demand Surge Grows

USD/CAD Price Forecast: Employment Data Lifts Canadian Dollar

USD/CAD News and Analysis Unemployment rate remains firm despite estimates of a move higher USD/CAD technical considerations – 200 SMA and ascending trendline remain key IG client sentiment provides a mixed outlook despite the sizeable long positioning The analysis in this article makes use of chart patterns and key support and resistance levels. . . . → Read More: USD/CAD Price Forecast: Employment Data Lifts Canadian Dollar

British Pound Latest – GBP/USD Trying to Confirm New Support, NFPs Near

GBP/USD – Prices, Charts, and Analysis UK house prices rise further, according to one lender. The US Jobs Report is now key for overall market direction. GBP/USD sitting on a prior level of resistance.

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The . . . → Read More: British Pound Latest – GBP/USD Trying to Confirm New Support, NFPs Near

EUR/USD Eyeing Key Support Test Ahead of NFP

EUR/USD PRICE, CHARTS AND ANALYSIS:

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EUR/USD FUNDAMENTAL OUTLOOK

EURUSD faced continued selling pressure this morning around the 1.090 level following a failed attempt to test the 1.1000 psychological level yesterday. We have seen a . . . → Read More: EUR/USD Eyeing Key Support Test Ahead of NFP

Gold Price Forecast: XAU/USD Echoes Uncertain Global Sentiment

GOLD ANALYSIS & TALKING POINTS US fundamental variables continue to oppose one another with the Fed diverging from market data and market expectations. US jobless claims and Fed speak in focus later today. Bearish divergence an ominous sign short-term?

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Get Your Free Gold Forecast . . . → Read More: Gold Price Forecast: XAU/USD Echoes Uncertain Global Sentiment

Crude Oil Slides as US Data Underwhelms Pushing Yields Down. Lower WTI?

Crude Oil, WTI, Brent, US Dollar, Treasury Yields, Fed, AUD, NZD – Talking Points Crude oil has paused in its run higher after US data disappointed The US Dollar and Treasuries rallied as perceived haven assets were bought If more data is delivered to the downside, where will WTI go?

. . . → Read More: Crude Oil Slides as US Data Underwhelms Pushing Yields Down. Lower WTI?

US Dollar Gains on Soft Data that May Signal a Shift in Market Perception for USD

US Dollar, DXY Index, USD, Federal Reserve, Japanese Yen, Momentum – Talking points The US Dollar rallied in a move that snapped recent inter-market relationships Treasury yields went lower reflecting the unfurling economic headwinds If the market response to data has shifted, what does it mean for the DXY index?

. . . → Read More: US Dollar Gains on Soft Data that May Signal a Shift in Market Perception for USD

Nasdaq 100 Dips as Soft ISM Services Data Fuels Economic Woes, Will Support Hold?

Nasdaq 100, ISM Services Index, Fed, Technical Analysis – Asia Pacific Market Open: Tech-heavy Nasdaq 100 underperforms after soft ISM Services data Traders seemed to focus on economic woes rather than a dovish Fed Turn lower has the Nasdaq facing a key zone of support, will it hold?

Recommended by . . . → Read More: Nasdaq 100 Dips as Soft ISM Services Data Fuels Economic Woes, Will Support Hold?

Gold Prices Pause Ahead of US Jobs Data but Fresh Record Highs Remain in Sight

GOLD FORECAST: Gold prices struggle for direction as traders look for fresh market catalysts Despite Wednesday’s price action, the precious metal retains a bullish outlook The March U.S. jobs report will help set the trading tone for XAU/USD in the near term

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Canadian Dollar Outlook: USD/CAD Bounces Off Trendline Support as Haven Flows Pick Up

USD/CAD FORECAST: The Canadian dollar weakens on Wednesday as risk-off mood undermines high-beta currencies The USD/CAD bounces off trendline support, with prices eyeing an important technical resistance Market sentiment will dictate moves over the coming days

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Get My . . . → Read More: Canadian Dollar Outlook: USD/CAD Bounces Off Trendline Support as Haven Flows Pick Up

US Breaking News: ISM Services Miss adds to Economic Concerns

ISM Non-Manufacturing (Services) PMI Misses Estimate

The second of the two measures gauging the health of the US economy compounded concerns that the relatively strong US economy is showing signs of concern. The ISM non-manufacturing PMI data came in at 51.2 vs expectations of 54.5 and a prior print of 55.1 in February.

. . . → Read More: US Breaking News: ISM Services Miss adds to Economic Concerns

Euro Latest: EUR/USD Holding Weekly Gains, Bulls Eye 1.1000+

EUR/USD Price, Chart, and Analysis The Euro is treading water ahead of a long weekend. EUR/USD is looking to break above 1.1000.

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The weakness in the US dollar, and ongoing Euro strength, is pushing EUR/USD ever . . . → Read More: Euro Latest: EUR/USD Holding Weekly Gains, Bulls Eye 1.1000+

GBP/USD at Multi-Month Highs, Acceptance Above the 1.2500 Level Remains Key

GBP/USD PRICE, CHARTS AND ANALYSIS:

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GBP/USD FUNDAMENTAL OUTLOOK

GBPUSD broke the Q1 range high to tap the psychological 1.2500 level yesterday, last seen in June 2022. However, the pair is struggling . . . → Read More: GBP/USD at Multi-Month Highs, Acceptance Above the 1.2500 Level Remains Key

AUD/USD Price Forecast: RBA Governor Lowe Unable to Deter Falling Aussie Dollar

AUD/USD ANALYSIS & TALKING POINTS RBA Governor Lowe’s hawkish sentiments did little for the AUD but shows intent to extend their tightening cycle if necessary. US economic data in focus today. AUD/USD looking towards rising wedge support, now below 200-day MA.

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S&P 500 Stalls at Trendline Resistance as Sentiment Sours. Where Next for Stocks?

S&P 500 OUTLOOK: S&P 500 falls as sentiment sours following disappointing U.S. economic data A labor market report showed that job openings in February fell to their lowest level since May 2021, a sign that hiring is starting to slow down meaningfully From a technical perspective, losses could accelerate if the equity index fails . . . → Read More: S&P 500 Stalls at Trendline Resistance as Sentiment Sours. Where Next for Stocks?

US Dollar Breaks Below Key Fib Support as Yields Sink, DXY at Risk of More Losses

US DOLLAR OUTLOOK: The U.S. dollar index breaks below major Fibonacci support amid falling bond rates Treasury yields sink as weaker-than-expected economic data prompt traders to discount a more dovish monetary policy outlook In the current environment, the DXY index is likely to remain biased to the downside

Recommended by Diego . . . → Read More: US Dollar Breaks Below Key Fib Support as Yields Sink, DXY at Risk of More Losses

Ethereum (ETH/USD) Breaks Higher as Shanghai Upgrade Nears

Ethereum (ETH) Prices, Charts, and Analysis Ethereum eyes resistance at $2,030. Shanghai upgrade set for April 12.

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Ethereum is pushing higher today and has just made a fresh multi-month high after a . . . → Read More: Ethereum (ETH/USD) Breaks Higher as Shanghai Upgrade Nears

Silver Price Forecast: On a Knife Edge as Key Confluence Area Reached

SILVER PRICE, CHARTS AND ANALYSIS: Silvers Rally Stalled Yesterday as a Combination of Returning Risk Appetite and a Key Confluence Area Weighed on Price. Technicals are Providing Some Mixed Signals at Present on the Weekly and Daily Timeframes Highlighting the Importance of the $24.20 Handle. USD and the NFP Report Due Friday May . . . → Read More: Silver Price Forecast: On a Knife Edge as Key Confluence Area Reached

Crude Oil Price Forecast: OPEC+ Actions Lingering, Markets Mull Over Consequences

BRENT & WTI CRUDE OIL ANALYSIS & TALKING POINTS OPEC+ production cut continues to dominate headlines by complicating supply dynamics and global central bank policies. US economic releases under the spotlight this week for crude oil. Brent and WTI reaching short-term peak?

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Canadian Dollar Outlook: USD/CAD Breaks Down as Oil Soars, Trendline Support at Risk

USD/CAD TECHNICAL FORECAST: The Canadian dollar rallies at the start of the week, supported by surging oil prices Energy markets soar on Monday after OPEC+ announces unexpected move to cut crude production from May onwards USD/CAD breaks below the 1.3500 level and falls toward trendline support at 1.3420, the next major technical floor . . . → Read More: Canadian Dollar Outlook: USD/CAD Breaks Down as Oil Soars, Trendline Support at Risk

GBP/USD Defies Confluence Resistance, EUR/USD at Brink of Major Bullish Breakout

GBP/USD & EUR/USD OUTLOOK: GBP/USD rallies and challenges a major confluence resistance region EUR/USD gains and moves closer to overtaking trendline resistance, a bullish breakout that could pave the way for a retest of January’s high DailyFX’s second quarter trading guides are ready. Download them here!

Recommended by Diego Colman

. . . → Read More: GBP/USD Defies Confluence Resistance, EUR/USD at Brink of Major Bullish Breakout

Gold Price Forecast: $1950 Holds Firm as Gold Starts NFP Week with a Bang

GOLD PRICE, CHARTS AND ANALYSIS: Gold Finds Support at the $1950 Level Once More, Third Time in as many Weeks Acceptance Above $2000 May prove a Hurdle too Far with a Catalyst Likely Needed to Facilitate a Breakout. Price Action is Mixed as we Print Lower Highs Followed by Higher Lows. To Learn . . . → Read More: Gold Price Forecast: $1950 Holds Firm as Gold Starts NFP Week with a Bang

US Dollar (DXY) Pares Opening Gains After Rate Hike Expectations Move Higher

US Dollar (DXY) Price, Chart, and Analysis The US dollar remains under pressure. OPEC+ output cut may keep rates higher for a bit longer.

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The Organisation of Petroleum Exporting Countries (OPEC) and Saudi Arabia . . . → Read More: US Dollar (DXY) Pares Opening Gains After Rate Hike Expectations Move Higher

EUR/USD Recovers Above the 1.0800 Handle as Sentiment Improves

EUR/USD PRICE, CHARTS AND ANALYSIS:

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EUR/USD FUNDAMENTAL OUTLOOK

EURUSD faced selling pressure in the Asian session as a combination of dollar strength and recessionary fears dented sentiment. EURUSD has recovered since the London . . . → Read More: EUR/USD Recovers Above the 1.0800 Handle as Sentiment Improves

Markets Q2 Outlook: US Dollar, Gold, Oil, Dow, Euro, Yen, Sterling, AUD, BTC

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Where are stocks going in Q2?

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Global market risk appetite improved generously in the first quarter despite the financial threat of Silicon Valley Bank’s collapse. By the end of Q1, there was no sign from the VIX market ‘fear gauge’ . . . → Read More: Markets Q2 Outlook: US Dollar, Gold, Oil, Dow, Euro, Yen, Sterling, AUD, BTC

US Dollar Q2 Technical Forecast: Sellers Take Hold of Steering Wheel

US DOLLAR TECHNICAL OUTLOOK: The U.S. dollar, as measured by the DXY index, fell during the first three months of the year, with prices currently challenging a major technical support zone Heading into the second quarter, the risk of a breakdown has increased Download our full quarterly US dollar forecast for a more . . . → Read More: US Dollar Q2 Technical Forecast: Sellers Take Hold of Steering Wheel

WTI Technical Forecast: Long-Term Downtrend Remains but Signs of Fatigue Appear

For most of Q1 2023 WTI crude oil prices oscillated between two very crucial levels as traders attempted to gauge the longer-term direction of the commodity. The level of resistance at $82.50 provided a solid ceiling, while the upper band of the $67 – $72 target zone to replenish SPR supplies provided support for . . . → Read More: WTI Technical Forecast: Long-Term Downtrend Remains but Signs of Fatigue Appear

Euro Q2 Fundamental Forecast: Recovery May Continue but Upside Will Be Limited

EUR/USD FORECAST: The euro continued to strengthen against the U.S. dollar during the first three months of the year Heading into the second quarter, EUR/USD is likely to remain in an upward trajectory Download our full quarterly euro forecast for a more comprehensive view of the common currency’s outlook

Recommended by . . . → Read More: Euro Q2 Fundamental Forecast: Recovery May Continue but Upside Will Be Limited

Japanese Yen Q2 Technical Forecast: Yen Looks Set for Gains in Q2

Japanese Yen Q1 Recap

The Japanese Yen has had an interesting Q1 to say the least with the Yen starting the quarter looking vulnerable against the Greenback. The US Federal Reserve looked set to continue on an aggressive hiking cycle while the Bank of Japan looked set to continue down its easy monetary . . . → Read More: Japanese Yen Q2 Technical Forecast: Yen Looks Set for Gains in Q2

Bitcoin Technical Outlook: Candlestick Patterns Suggest Bullish Continuation is Possible in Q2

Bitcoin Technical Outlook: Candlestick Patterns Suggest Bullish Continuation is Possible in Q2

In the first quarter of 2023, Bitcoin (BTC/USD) benefited from a reduction in rate expectations and other fundamental catalysts that resulted in a leap in price action, gaining over 70%. Question is, will bulls hold onto control and drive prices to . . . → Read More: Bitcoin Technical Outlook: Candlestick Patterns Suggest Bullish Continuation is Possible in Q2

Gold Fundamental Forecast: Gold Glowing into Q2 as Fed Peaks

Gold Fundamental Forecast: Gold Glowing into Q2 as Fed Peaks

Moving into the second quarter of 2023, gold prices are gaining traction in line with the global banking crisis and uncertainty surrounding the Federal Reserve. Contagion risks from financial market fears have allowed the safe-haven appeal of gold to drive bulls to the . . . → Read More: Gold Fundamental Forecast: Gold Glowing into Q2 as Fed Peaks

US Inflation Nudges Lower, US Dollar (DXY) Also Slips on Drifting Rate Expectations

US Dollar (DXY) Price, Chart, and Analysis US core PCE nudge 0.1% lower to 4.6% in February. The US dollar slips but price action is muted for now.

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Inflation in the US is falling, according . . . → Read More: US Inflation Nudges Lower, US Dollar (DXY) Also Slips on Drifting Rate Expectations

Gold Price Uptrend Looks Solid With $2000 Very Much In Play

Gold Prices, Chart, and Analysis Gold prices continue to gain despite some signs of reduced risk aversion The prospect of few US rate rises ahead, if any, supports the market A new push above $2000 looks quite likely

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Get My . . . → Read More: Gold Price Uptrend Looks Solid With $2000 Very Much In Play

Euro Breaking News: Core Inflation Reaches New High, Validating ECB Hawks

Euro Zone Inflation Rises in March

The year-on -year headline measure of EU inflation posted a massive decline, coming in at 6.9% vs a forecast of 7.1%, but the real kicker reveals a drop from last month’s (YoY) reading of 8.5%. Despite the rapid YoY decline, March CPI actually rose 0.9% from February, . . . → Read More: Euro Breaking News: Core Inflation Reaches New High, Validating ECB Hawks

Breaking UK News: UK Growth Revised Higher, GBP/USD Nears A Multi-Week High

GBP/USD – Prices, Charts, and Analysis UK GDP data beat estimates. Cable continues to move higher. US core PCE later in the session may impact cable.

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The UK economy expanded by 0.1% in Q4 2022, . . . → Read More: Breaking UK News: UK Growth Revised Higher, GBP/USD Nears A Multi-Week High

Crude Oil Holds the High Ground as Mood Boosted by China PMI. Higher WTI?

Crude Oil, WTI, Brent, China PMI, Japanese Yen, Nikkei 225, Fed, Treasuries – Talking Points Crude has had another solid week with markets seeing a rosy outlook The Fed reminded markets of their intentions with inflation as enemy #1 What does the underlying market structure say about crude? Will WTI go higher?

. . . → Read More: Crude Oil Holds the High Ground as Mood Boosted by China PMI. Higher WTI?

Australian Dollar Looks Past China PMI Data, Focus is Now on Key Fed Inflation Gauge

Australian Dollar, AUD/USD, China PMI, PCE – Market Alert: Australian Dollar gives up gains on upbeat China PMI data The focus now shifts to the Fed’s preferred inflation reading Near-term rising trendline continues shaping AUD/USD path

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US Dollar Continues Diverging from the Fundamentals, Will PCE Data Realign Traders?

Haven-linked US Dollar declines as Wall Street continues higher Traders seem to be ignoring clearly not-dovish Fed commentary Still, Bear Flag remains key technical downside setup on the daily

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Asia-Pacific Market Briefing – US Dollar . . . → Read More: US Dollar Continues Diverging from the Fundamentals, Will PCE Data Realign Traders?

USD/CAD Mauled as Canadian Dollar Bulls Pounce, Key Support at Risk of Cracking

CANADIAN DOLLAR OUTLOOK: USD/CAD extends losses amid positive market sentiment Higher oil prices also benefit the Canadian dollar The pair seems to be on the verge of invalidating a key technical support zone, a bearish signal for price action

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EUR/USD Confronts Trendline Resistance, Threatens Breakout After Hot German CPI

EUR/USD OUTLOOK: EUR/USD rallies after German inflation numbers surprise to the upside Broad-based U.S. dollar weakness and risk-on sentiment also boost the euro This article looks at key technical levels to keep an eye on in the near term

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USD Breaking News: Final US (Q4) GDP Revised Lower but Data Remains Robust

US Q4 GDP Dipped Slightly, US Economic data Remains Robust

The final version of US GDP for the fourth quarter of 2022 dipped slightly lower, from 2.7% to 2.6%, dropping from the Q3 print of 3.2%.

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However, despite the quarter-on-quarter drop . . . → Read More: USD Breaking News: Final US (Q4) GDP Revised Lower but Data Remains Robust

DAX 40 Price Forecast: European Stocks Soar Ahead of German Inflation

Dax 40 Talking Points German Dax hits a daily high of 15,693 ahead of German inflation (Prel) print European equities surge after China’s optimistic outlook eases recession fears Dax 40 recovers over 7% of March losses with bulls aiming to retest the monthly high of 15,720.

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Gold Prices Stick To Uptrend As Market Mulls US Rate Path

Gold Price, Chart, and Analysis Gold prices remain under $2000, but their uptrend is also clear Markets are weighing up the chances of another US rate rise Key data releases are still due this week, which could give a steer

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British Pound Latest: GBP/USD Grinds Higher as US Data Releases Near

GBP/USD – Prices, Charts, and Analysis Cable is higher on the week but the trading range is very narrow. US GDP and core PCE may add some volatility into a lackluster market.

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GBP/USD traders will . . . → Read More: British Pound Latest: GBP/USD Grinds Higher as US Data Releases Near

Gold Price Forecast: XAU/USD Stumbles as Risk-on Sentiment Returns

Gold (XAU/USD) price outlook: Gold prices turn cautious amid easing fears of banking contagion XAU/USD Threatens support at the February 2023 high US Dollar gains, dragging safe-havens lower

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Receive timely and compelling market . . . → Read More: Gold Price Forecast: XAU/USD Stumbles as Risk-on Sentiment Returns

USD/CAD at Risk of Breakdown as Oil Gains, Canadian Dollar Outlook Bullish for Now

CANADIAN DOLLAR OUTLOOK: USD/CAD deepens pullback as market mood improves and oil extends its recovery The Canadian dollar retains a constructive technical outlook for now High-beta currencies, however, remain in a vulnerable position and sensitive to changes in global sentiment following the recent turmoil in the U.S. banking sector

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S&P 500, Nasdaq Set to Open Higher Upon an Improved Outlook

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SVB Solution and News of New Regional Bank Regulations to Lifts Equities

Markets appear content with the way US regulators handled the sale of distressed lender Silicon . . . → Read More: S&P 500, Nasdaq Set to Open Higher Upon an Improved Outlook

USD/JPY Moves Higher as the Japanese Yen Sheds its Risk Premium

Japanese Yen (USD/JPY) Price and Chart Analysis USD/JPY moves higher as banking fears calm. New BoJ deputy governor mulls yield curve control tweaks.

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For all market-moving data releases and economic events see the real-time DailyFX . . . → Read More: USD/JPY Moves Higher as the Japanese Yen Sheds its Risk Premium

EUR/USD Hands Back Some Gains, German CPI Data In Focus

EUR/USD Analysis, Prices, and Charts EUR/USD fades after two days of clear gains There doesn’t seem to be much news behind this, the market may be a little over-extended German inflation data due Thursday may liven things up

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Oil Gains on Supply Disruption Risks but Headwinds Loom, Key Levels to Watch

OIL PRICE FORECAST: Oil prices rise to their best level in two weeks on supply disruption risks Despite recent gains, the technical outlook remains somewhat bearish for WTI crude This article looks at key tech levels to watch in the coming sessions

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USD/CAD Price Forecast: Greenback Extends Losses as Loonie Gains

USD/CAD Outlook:

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USD/CAD has fallen below the tight range of support and resistance, that formed around 1.365 . . . → Read More: USD/CAD Price Forecast: Greenback Extends Losses as Loonie Gains

US Consumer Confidence Rebounds Unexpectedly, but Fails to Boost US dollar

US CONSUMER CONFIDENCE KEY POINTS: March U.S. consumer confidence rises to 104.2 from 103.4, topping estimates calling for a decline to 101.00 The small rebound in sentiment can be attributed to a moderate recovery in the expectations index The U.S. dollar retains a negative bias as markets remain focused on the U.S. banking . . . → Read More: US Consumer Confidence Rebounds Unexpectedly, but Fails to Boost US dollar

Gold Price Losing its Safe-Haven Shine, US Bond Yields Move Higher

Gold Price (XAU/USD), Chart, and Analysis Gold moves lower as contagion fears recede. US Treasury yields move higher as market attention returns to inflation.

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Risk markets are flat to marginally higher in quiet trade Tuesday . . . → Read More: Gold Price Losing its Safe-Haven Shine, US Bond Yields Move Higher

GBPUSD Gains Again, BoE Bailey Says Inflation Fight Comes First

GBP/USD Prices, Charts, and Analysis GBP/USD made further gains Tuesday The US Dollar saw some broad weakness as banking-crisis fears eased UK rates still look set to gain, but maybe not by much more

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GBPUSD has . . . → Read More: GBPUSD Gains Again, BoE Bailey Says Inflation Fight Comes First

Gold Prices Sink as Yields Pop, Mood Improves, Bullish Momentum Exhausted for Now

GOLD PRICES OUTLOOK: Gold prices (XAU/USD) sink at the start of the week, punished by rising U.S. Treasury yields and improving market mood Stabilizing sentiment may undermine precious metals in the coming days, but the medium-term outlook remains bullish This article looks at key XAU/USD technical levels to watch this week

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Nasdaq 100 Price Outlook: SVB Sale Soothes Markets, Risk Sentiment

Nasdaq 100 (.NDX) News and Analysis SVB sale to First Citizens ushers in an eerily calm to the start of the week Nasdaq 100 technical considerations and levels to watch: ‘W formation With markets anticipating rate cuts from the Fed, big tech finds room to over perform on a relative basis The analysis in . . . → Read More: Nasdaq 100 Price Outlook: SVB Sale Soothes Markets, Risk Sentiment

US Dollar (DXY) Subdued, Banks Gain, US Treasury Yields Move Higher

US Dollar (DXY) Price and Chart Analysis Risk sentiment boosted by SVB takeover deal. US Treasury yields move higher, rate hike expectations remain the same.

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First Citizen Bank announced before the UK market opened . . . → Read More: US Dollar (DXY) Subdued, Banks Gain, US Treasury Yields Move Higher

Crude Oil Outlook: Oil Prices Bounce off Support as Bank Jitters Ease

Crude oil price forecast: WTI crude oil extends gains, pushing prices to psychological resistance at $70.00 per barrel. Brent crude oil heads toward the mid-point of the 2020 – 2022 move providing resistance at $77.00. First Citizens BankShares Inc agrees to acquire the deposits and loans of failed SVB (Silicon Valley Bank), boosting . . . → Read More: Crude Oil Outlook: Oil Prices Bounce off Support as Bank Jitters Ease

British Pound Latest: GBP/USD Squeezes Higher as Risk Sentiment Improves

GBP/USD – Prices, Charts, and Analysis First Citizen to buy Silicon Valley Bank. Sterling steadies around 1.2250 against the US dollar.

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Most Read: British Pound Latest: GBP/USD Bullish Trend is Intact but Slowing Down

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US Dollar Outlook: Path of Least Resistance is Lower after Fed Ditches Hawkish View

US DOLLAR FORECAST: U.S. dollar gains on Friday on risk-off mood, but post heavy losses for the week The Fed’s decision to ditch its hawkish guidance will help stabilize sentiment soon, but the timeline is uncertain Markets are beginning to price rate cuts for this year, creating a bearish backdrop for the U.S. currency . . . → Read More: US Dollar Outlook: Path of Least Resistance is Lower after Fed Ditches Hawkish View

Euro Dollar Outlook: EUR/USD Takes a Breather as Prices Test Support

Euro Dollar (EUR/USD) Talking Points: EUR/USD clings to the 50-day moving average (MA) as prices struggle to break free from a broader range of support and resistance. Euro eases after failing to break above 1.090 US Dollar remains vulnerable diminishing growth forecasts and a higher probability of a recession.

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Gold Prices Cool Slightly After Fed’s Dovish Hike Puts $2000 Back in Play

Gold Price Chart and Analysis Gold prices remain close to one-year highs Hopes that there won’t be too many rate-hikes ahead are supporting non-yielders $2000/ounce is still a formidable hurdle

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Gold prices have cooled a little . . . → Read More: Gold Prices Cool Slightly After Fed’s Dovish Hike Puts $2000 Back in Play

British Pound Latest: GBP/USD Bullish Trend is Intact but Slowing Down

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Most Read: BoE Raise Rates by 25bps, Expecting Inflation . . . → Read More: British Pound Latest: GBP/USD Bullish Trend is Intact but Slowing Down

USD/JPY Eyeing a Break of the 130.000 Handle Following Mixed Inflation Data

USD/JPY PRICES, CHARTS AND ANALYSIS:

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USD/JPY FUNDAMENTAL BACKDROP

USD/JPY trickled lower in the Asian session to a . . . → Read More: USD/JPY Eyeing a Break of the 130.000 Handle Following Mixed Inflation Data

Gold Gains After Fed’s Dovish Hike Reinforces Bullish Trend, Breakout in Play

GOLD PRICE FORECAST: Gold prices rise following the Fed’s dovish hike at its March FOMC meeting The U.S. central bank raised rates by 25 basis points, but signaled its tightening cycle is coming to an end The fundamental outlook remains positive for gold

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BoE Raise Rates by 25bps, Expecting Inflation to Cool, GBP Edged Higher

BoE RATE DECISION KEY POINTS:

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The Bank of England have hiked rates by 25 bps as expected . . . → Read More: BoE Raise Rates by 25bps, Expecting Inflation to Cool, GBP Edged Higher

USDJPY Heads Lower as Market Digests a More Dovish Fed

USDJPY Analysis and Charts USD/JPY fell sharply after the Fed on Wednesday The prospect of fewer rate hikes ahead clearly weighed on the Greenback Major Japanese businesses remain gloomy, data showed

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The United States Dollar remained . . . → Read More: USDJPY Heads Lower as Market Digests a More Dovish Fed

US Dollar (DXY) Touches a Fresh 7-Week Low Despite a 25bp Fed Rate Hike

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A look at the latest Fed Fund rate probabilities currently . . . → Read More: US Dollar (DXY) Touches a Fresh 7-Week Low Despite a 25bp Fed Rate Hike

EUR/USD Price Outlook: Dovish FOMC Statement Propels EURUSD Higher

EUR/USD News and Analysis Dovish FOMC flatters the euro – supports impressive bullish run EUR/USD technical considerations and levels to watch Rising shorts, declining longs add fuel to IG client sentiment’s bullish outlook The analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our . . . → Read More: EUR/USD Price Outlook: Dovish FOMC Statement Propels EURUSD Higher

Gold Prices Turn to US Initial Jobless Claims to Gauge SVB Economic Shock

Gold, XAU/USD, Federal Reserve, Jobless Claims – Briefing: Gold prices gained on the Fed as USD and Treasury yields fell All now focus on US initial jobless claims to gauge SVB impact XAU/USD turned back towards key resistance, where to next?

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S&P 500 Sinks After Powell Speech and Yellen Testimony, Will US Dollar Rebound?

S&P 500, US Dollar, Jerome Powell, Janet Yellen – Asia Pacific Market Open: The S&P 500 sank 1.6% in the aftermath of the Fed rate decision Chair Jerome Powell tried pouring cold water on rate cut bets Meanwhile, Janet Yellen testimony compounded risk aversion Asia-Pacific markets appear to be bracing for volatility next . . . → Read More: S&P 500 Sinks After Powell Speech and Yellen Testimony, Will US Dollar Rebound?

Fed Hikes Rates to Zap Inflation, Offers Less Hawkish Guidance, US Dollar Sinks

FED DECISION KEY POINTS: The Federal Reserve raises interest rates by 25 basis points to 4.75%-5.00%, in line with expectations The policy statement removes guidance indicating that ongoing increases in the target range will be appropriate The dot-plot signals the same hiking path for 2023 as the one envisioned three months ago

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US Dollar Wavers Ahead of Fed Decision. What Should Forex Traders Expect?

US DOLLAR OUTLOOK: U.S. dollar lacks directional conviction, moving between small gains and losses, as traders avoid taking large positions ahead of the FOMC decision The Fed is expected to hike interest rates by 25 basis points to 4.75%-5.00%, though some market participants anticipate a pause in the central bank’s tightening cycle The . . . → Read More: US Dollar Wavers Ahead of Fed Decision. What Should Forex Traders Expect?

Gold Patiently Awaits the Fed’s Next Move – How Will XAU/USD Respond?

Gold Price (XAU/USD) Talking Points: Gold prices remain uncertain – The Vix (known as the ‘fear gauge’) erases 18% of this month’s gain – is it too soon to eliminate contagion fears and a severe recession? XAU/USD trades sideways around $1,946 as market participants wait for Jerome Powell to provide insight into the growth . . . → Read More: Gold Patiently Awaits the Fed’s Next Move – How Will XAU/USD Respond?

USD/JPY Price Outlook: Scenario-Based Trade Setups Ahead of FOMC

USD/JPY Analysis

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Japanese Yen Benefited from Safe Haven Appeal During Panic

From the 9th of March this year when SVB became the center of a potential systemic banking crisis, the Japanese yen received a boost as . . . → Read More: USD/JPY Price Outlook: Scenario-Based Trade Setups Ahead of FOMC