Most Read: US CPI, Fed Decision to Guide US Dollar, Setups on EUR/USD, USD/JPY, GBP/USD

The week ahead is likely to bring elevated market volatility, courtesy of impactful and high-risk events on the economic calendar, including US inflation data, UK GDP figures, and significant monetary policy announcements from the FOMC, the Bank of England . . . → Read More: Markets Week Ahead: Gold, EUR/USD, GBP/USD, USD/JPY, US Inflation, Fed, ECB, BoE

US DOLLAR FORECAST – EUR/USD, USD/JPY, GBP/USD The U.S. dollar is likely to experience increased volatility this week, with several high-impact events on the economic calendar Market focus will be on U.S. inflation data on Tuesday and the Fed’s monetary policy announcement on Wednesday This article examines the technical outlook for EUR/USD, USD/JPY and . . . → Read More: US CPI, Fed Decision to Guide US Dollar, Setups on EUR/USD, USD/JPY, GBP/USD

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By selecting the box below, you are confirming that you are not a . . . → Read More: USD/JPY Weekly Forecast: Markets Peel Back Hopes for BoJ Policy Change

US NFP AND JOBS REPORT KEY POINTS: The US Added 199,000 Jobs in June, Slightly Above the Forecasted Figure of 180,000. The Unemployment Rate Falls to 3.7%, Remaining within a Range Below the 4% Mark. Average Hourly Earnings Came in at 0.4% MoM with the YoY Print Holding Firm at 4.%. To Learn . . . → Read More: November Jobs Report: Unemployment Falls and NFP Print Beats Forecast, DXY Advances

Article by IG Senior Market Analyst Axel Rudolph

FTSE100, DAX40, S&P 500 Analysis and Charts

???FTSE 100 grinds higher

?The FTSE 100 once more tries to reach this and last week’s six-week high at 7,543 as traders await US non-farm payrolls data.?The UK blue chip index is being supported by the 55-day simple moving . . . → Read More: ???FTSE 100 Grinds Higher while Dax 40 and S&P 500 Stall Ahead of US Employment Data

Gold (XAU/USD) Analysis and Charts Will the US Jobs Report spark another gold price shock? Gold’s daily chart remains positive, for now.

DailyFX Economic Calendar

Most Read: XAU/USD Breaking News: Gold Reaches an All-Time High

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. . . → Read More: Gold (XAU/USD) Primed for US NFPs, Is Another Price Shock on the Cards?

Japanese GDP and JPY Analysis Japanese Q3 GDP revised lower as inflation weighs on spending Japanese government bond yields recover sharply, buoying the yen Non-farm payrolls could extend recent moves on weaker jobs data The analysis in this article makes use of chart patterns and key support and resistance levels. For more information . . . → Read More: Japanese GDP Strained by Rising Inflation and BoJ Spurs Hawkish Bets

AUD/USD ANALYSIS & TALKING POINTS RBA Brischetto lauds Australians, AUD bid. Will NFPs echo recent ADP employment change? AUD/USD patiently awaits NFP data.

Elevate your trading skills and gain a competitive edge. Get your hands on the AUSTRALIAN DOLLAR Q4 outlook today for exclusive insights into key market catalysts that should be on . . . → Read More: AUD Forecast: Australian Households Managing Tough Financial Conditions, RBA’s Brischetto

GOLD, YIELDS, US DOLLAR, NASDAQ 100 FORECAST Gold prices, Treasury yields, the U.S. dollar and the Nasdaq 100 will be quite sensitive to the November U.S. nonfarm payrolls report, as jobs data can have a direct impact on market pricing of the Fed’s policy path Strong employment growth will be bullish for yields and . . . → Read More: US Jobs Report Preview: What’s Next for Gold, US Dollar, Yields & Nasdaq 100?

EUR/USD, EUR/GBP PRICE, CHARTS AND ANALYSIS:

Most Read: Oil Price Forecast: $70 a Barrel Holds Firm as China Adds to Demand Concerns

EURO GDP REVISION AND FUNDAMENTAL BACKDROP

The Euro outlook continues to look bleak despite a resilient day against the Greenback. EUR/GBP as well seems to be setting up for a bounce . . . → Read More: Euro Price Action Setups: EUR/USD, EUR/GBP Post GDP Revision

OIL PRICE FORECAST: Oil Fails at the $70 Hurdle Before Sliding Further. President Putin Makes Rare Visit to Middle East as Saudi Arabia and Russia Reiterate Importance of OPEC+ Voluntary Cuts. Chinese Imports and Oil Demand from Refineries Falls. IG Client Sentiment Shows Traders are 87% Net-Long on WTI at Present. To Learn More . . . → Read More: Oil Price Forecast: $70 a Barrel Holds Firm as China Adds to Demand Concerns

GOLD PRICE FORECAST Gold prices lack directional conviction ahead of key U.S. jobs data November’s nonfarm payrolls report may offer clues about the health of the economy and thus the Fed’s monetary policy path This article looks at key price levels to watch on XAU/USD in the coming trading sessions

Most Read: Crude Oil . . . → Read More: Gold Prices on Edge ahead of Key US Jobs Data, Trade Setups on XAU/USD

RAND TALKING POINTS & ANALYSIS Recovering South African current account encouraging for ZAR. NFP to determine short-term guidance. USD/ZAR bears eye rising wedge breakout.

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. . . → Read More: ZAR Price Update: Rand Capitalizes on Weaker USD

Article by IG Chief Market Analyst Chris Beauchamp

Dow Jones, Nasdaq 100, CAC 40 Analysis and Charts

???Dow edges off highs

?The index continues to trim the gains made last week, with Wednesday’s session seeing its largest drop in a month as energy stocks fell sharply thanks to fresh declines in oil prices. . . . → Read More: ????Dow Edges Lower, while Nasdaq 100 and CAC40 Mixed

EU GDP and Euro Analysis EU GDP growth rate unchanged compared to Q2 (-0.1%) and stagnant vs Q3 2022 (0%) EUR/USD heads lower as the euro struggles to halt declines across G7 currencies German CPI and US non-farm payroll data to end the week on Friday

Growth turned negative in Q3 when compared . . . → Read More: EU Breaking News: EU GDP Revised Lower, Confirming Stagnant Growth

Japanese Yen Prices, Charts, and Analysis

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The Japanese Yen is strengthening against a range of currencies today after recent Bank of Japan commentary suggested that the . . . → Read More: Japanese Yen Latest – USD/JPY Posts a Fresh Three-Month Low on BoJ Talk

POUND STERLING ANALYSIS & TALKING POINTS UK housing prices provide support for struggling pound. US jobless claims to lay foundation ahead of tomorrow’s NFP report. GBP/USD hesitant ahead of key US data.

Elevate your trading skills and gain a competitive edge. Get your hands on the BRITISH POUND Q4 outlook today for exclusive . . . → Read More: GBP Price Forecast: UK House Price Index Rises for 2nd Consecutive Month

CRUDE OIL PRICE OUTLOOK Crude oil prices (WTI) plunge into freefall, breaking below the psychological $70.00 level The technical outlook remains bearish for now This article looks at oil’s key price thresholds to watch in the coming days

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. . . → Read More: Crude Oil Forecast: Prices in Freefall as Pivotal Technical Support Caves In

BITCOIN, CRYPTO KEY POINTS: Bitcoin Pauses Just Shy of the $45k Mark with Options Markets Hinting at a Run to $50k and Beyond. Crypto Industry is the Epitome of Resilience, Market Cap Up $750 Billion Since November 2022. Based on the Grayscale Bitcoin Trust’s NAV Discount, Which has Narrowed Dramatically, the Market Assigns a . . . → Read More: Bitcoin (BTC/USD) Price Forecast: On the Way to $50K or Retracement First?

GOLD (XAU/USD) PRICE FORECAST:

MOST READ: ISM Services Tops Estimates, Job Openings Plunge Weighing on the US Dollar

Gold prices recovered late in the day yesterday before continuing to trickle higher today. Looking at the larger timeframes and the price is caught in a range ahead of US jobs data due tomorrow.

Supercharge your . . . → Read More: Gold Price Forecast: Gold Rangebound as Indecision Reigns Pre-NFP, Silver Eyes Support

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USD/CAD Mixed

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of clients are net long. of clients are net short.

Change in Longs Shorts . . . → Read More: US Dollar Price Action Setups: USD/CAD Tepid After BoC Decision, USD/JPY Wavers

US Stocks (SPX) Analysis S&P 500 struggles to capitalize on gap to the upside despite yields hitting 3-month low SPX nears retest of yearly high but bullish fatigue may delay any such ambitions IG client sentiment mixed despite 65% of traders short this market The analysis in this article makes use of chart . . . → Read More: S&P 500 Eases After Promising Gap Higher at the Open, Yields Hit 3-Month Low

British Pound – GBP/USD and EUR/GBP Analysis and Charts ECB may slash rates by 150 basis points next year. US Jobs Report the next GBP/USD driver.

For all market-moving economic data and events, see the DailyFX Calendar

?Most Read: Euro (EUR) Latest: Dovish ECB Commentary Weighs on EUR/USD, Yields Slump

Interest rates are . . . → Read More: British Pound Latest: Shifting Rate Expectations Move GBP/USD and EUR/GBP

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, Russell 2000 – Analysis and Charts

???FTSE 100 resumes ascent

?The FTSE 100 is heading back up towards last week’s six-week high at 7,543 as traders await more data this week to guide the economic and monetary policy outlook.?The index is now . . . → Read More: FTSE 100 Resumes Ascent, Dax 40 Hits Record High and Russell 2000 nears Three-Month Highs

USD/JPY News and Analysis BoJ Officials Downplay Imminent Decisions around Policy Pivot

Recent comments from Bank of Japan (BoJ) officials have highlighted the uncertainty around when the BoJ will be in a position to withdraw from decades of ultra-loose monetary policy despite inflation breaching the 2% target for over a year now. BoJ . . . → Read More: Yen Price Update: Officials Mum on Policy Overhaul, USD/JPY Consolidates

US DOLLAR FORECAST – USD/JPY, GBP/USD, AUD/USD The U.S. dollar extends its advance despite the pullback in U.S. Treasury yields Attention will be on the November U.S. employment report later this week This article focuses on the technical outlook for USD/JPY, GBP/USD and AUD/USD, taking into account recent price action as well as prevailing . . . → Read More: US Dollar Setups: USD/JPY Gains as GBP/USD Trends Lower, AUD/USD Hammered

US ISM SERVICES KEY POINTS:

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US ISM services PMI remained robust in November, topping estimates coming in at 52.7 in November 2023 from 51.8 in October. Activity in the services sector has now expanded for . . . → Read More: ISM Services Tops Estimates, Job Openings Plunge Weighing on the US Dollar

Brent Crude Oil News and Analysis Oil unable to arrest the decline despite imminent SPR purchases Saudi Arabia issues support for additional supply cuts and a slow withdrawal of the policy to keep prices stabilized The analysis in this article makes use of chart patterns and key support and resistance levels. For more . . . → Read More: Oil Struggles to Reverse Course as US Production Hits Record Levels

EUR/USD Forecast – Prices, Charts, and Analysis ECB’s Isabel Schnabel – ‘inflation developments have been encouraging’. The single currency remains under pressure as rate-cut expectations grow.

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Most . . . → Read More: Euro (EUR) Latest: Dovish ECB Commentary Weighs on EUR/USD, Yields Slump

Article by IG Chief Market Analyst Chris Beauchamp

Dow Jones, Nasdaq, Hang Seng – Analysis and Charts

???Dow consolidates after surge

?Last week saw the index surge to its highest level since January 2022.?A 12% gain in the space of a month does arguably leave the index looking vulnerable in the short-term, though . . . → Read More: Dow Holds Gains while Nasdaq 100 Slips Lower and Hang Seng Slumps to One-Year Low

OIL PRICE FORECAST:

Most Read: What is OPEC and What is Their Role in Global Markets?

Oil prices struggled for the majority of the day before finding some joy in the US session. The question is whether there is enough optimism among market participants to inspire a recovery in price?

. . . → Read More: Oil Price Forecast: WTI Prints Double Bottom Pattern. Recovery Incoming?

Euro Analysis (EUR/USD, EUR/GBP) EUR/USD Reverses Course but Immediate Support Provides the Next Test

The Euro has come under pressure and has depreciated against a number of major FX currencies. The European outlook is fraught with difficulties as the global growth slowdown has had a major impact across the bloc, including Germany, Europe’s largest . . . → Read More: Euro Update: EUR/USD Meets Support, While EUR/GBP Looks to Halt Major Sell-off

USD/CAD ANLAYSIS & TALKING POINTS Souring risk sentiment leaves CAD on the backfoot this Monday morning. BoC unlikely to bolster CAD. USD/CAD hesitates at 1.35.

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. . . → Read More: CAD Price Forecast: Loonie Stalls Ahead of BoC

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, S&P 500 – Analysis and Charts

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???FTSE 100 comes off six-week high

?The FTSE 100 is seen coming off last week’s six-week high at 7,543 as . . . → Read More: FTSE 100 Stalls While Dax 40, S&P 500 Near July Highs???

Bitcoin (BTC) Prices, Charts, and Analysis: Bitcoin (BTC) eyes resistance at $43k. Spot ETF narrative continues to drive Bitcoin and Ethereum,

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Bitcoin and Ethereum both took a significant leg higher over the . . . → Read More: Bitcoin (BTC), Ethereum (ETH) Surge to Fresh 18-Month Highs

Most Read: US Dollar’s Path Linked to US Jobs Report, Setups on EUR/USD, USD/JPY, GBP/USD

Volatility spiked across many assets last week, producing notable breakouts and breakdowns in the process. First off, U.S. Treasury yields plummeted across the board, with the 2-year yield sinking below its 200-day simple moving average and reaching its lowest . . . → Read More: Markets Week Ahead: Gold in Record Zone as Dow Breaks Out; EUR/USD, USD/JPY Eye NFP

US DOLLAR FORECAST – EUR/USD, USD/JPY, GBP/USD The U.S. dollar has fallen sharply in recent weeks The greenback’s bearish correction may extend if November U.S. job data surprises to the downside This article examines the technical outlook for the major U.S. dollar pairs, analyzing critical price levels that could be relevant for EUR/USD, USD/JPY . . . → Read More: US Dollar’s Trend Hinges on US Jobs Data, Setups on EUR/USD, USD/JPY, GBP/USD

CRUDE OIL ANALYSIS & TALKING POINTS OPEC+ decision to extend cuts unable to bolster crude oil prices. Potential USD rebound may hinder crude oil bulls. Bearish signals could see crude oil prices breakdown further.

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GOLD OUTLOOK & ANALYSIS Fed Chair Powell ramps up dovish bets. US ISM services PMI and NFP under the spotlight next week. Overbought gold could be heading lower next week.

Elevate your trading skills and gain a competitive edge. Get your hands on the Gold Q4 outlook today for exclusive insights into key . . . → Read More: Gold Weekly Forecast: XAU Eyes NFP After Powell

EUR/USD, PRICE FORECAST:

MOST READ: Oil Price Forecast: WTI Slips as OPEC+ Voluntary Cuts Fail to Convince

The Euro continued its slide today falling toward the 1.0850 as the DXX continued its advance in the European and early parts of the US session. The US Dollar for its part appears to be benefitting following . . . → Read More: EUR/USD Price Forecast: EUR/USD Prints Fresh Weekly with 200-Day MA in Sight

Gold (XAU/USD) Price, Analysis and Charts Gold hesitates at $2,050/oz. but the outlook remains positive. Fed Chair Powell speaks later in the session.

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DailyFX Economic Calendar

Most Read: Gold and Silver Continue to Rally as . . . → Read More: Gold (XAU/USD) Rejects $2,050/oz. Ahead of Fed Chair Powell’s Thoughts

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, S&P 500 Analysis and Charts

???FTSE 100 ends the month in positive territory

?The FTSE 100 slid to 7,383 on Thursday before reversing to the upside as inflation continues to weaken in the eurozone. ?The 55-day simple moving average (SMA) at . . . → Read More: FTSE 100, Dax 40 and S&P 500 Remain Bid as Inflation Slows

USD/CAD ANLAYSIS & TALKING POINTS OPEC+ production cuts keep CAD elevated. Canadian jobs report, ISM manufacturing PMI and Fed speak under the spotlight later today. Falling wedge support break under threat.

Want to stay updated with the most relevant trading information? Sign up for our bi-weekly newsletter and keep abreast of the latest . . . → Read More: CAD Price Forecast: Loonie Susceptible to Canadian Jobs Report & Fed Chair Powell

FORECAST – GOLD PRICES, NASDAQ 100, USD/JPY Gold prices and the Nasdaq 100 slide after failing to clear technical resistance Fed Chair Powell’s speech on Friday will steal the limelight and could be a source of market volatility This article examines the technical outlook for gold prices, the Nasdaq 100 and USD/JPY, analyzing the . . . → Read More: Gold Prices, Nasdaq 100 Rejected at Resistance, USD/JPY Flies Ahead of Powell

OIL PRICE FORECAST: Oil Failed at the 200-Day MA as the Technical and Fundamental Factors Weighed on the Price. OPEC+ Announce 2 Million bpd Cuts for Q1 2024 but it Appears Markets Expected More. Will the Bulls Recover or is a Retest of $70 a Barrel on the Cards? To Learn More About Price . . . → Read More: Oil Price Forecast: WTI Slips as OPEC+ Voluntary Cuts Fail to Convince

US DOLLAR FORECAST – EUR/USD, GBP/USD The U.S. dollar extends its recovery as U.S. yields push higher Powell’s speech on Friday will take center stage This article looks at key tech levels to watch on EUR/USD and GBP/USD

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. . . → Read More: US Dollar Up but Bearish Risks Grow, Setups on EUR/USD, GBP/USD Before Powell

Japanese Yen (USD/JPY) Analysis and Charts USD/JPY ticks up as November bows out A BoJ official has cast doubt on any near-term monetary alteration The USD, meanwhile, has been boosted by stronger US growth data

The Japanese Yen slipped a little against the United States Dollar on Thursday, with the possibility of tighter Japanese . . . → Read More: Japanese Yen Returns Some Gains After Adachi Comments Suggest No BOJ Shift

US Core PCE Key Points:

MOST READ: Oil Price Forecast: WTI Faces Technical Hurdles as OPEC+ Rumors Swirl

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. . . → Read More: US Consumer Spending Eases but the US Dollar Index (DXY) Continues to Advance

Gold (XAU/USD) Analysis After a hot growth print for Q3, gold appears more subdued but PCE may reignite the bull run Gold threatens to test all-time-high of $2081 should $2050 hold this week US exceptionalism at risk as economic fortunes sour in the US (sentiment and hard data) The analysis in this article . . . → Read More: Gold Price Update: Pullback in Question Ahead of US PCE Data

EUR/USD Forecast – Prices, Charts, and Analysis

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Most Read: Euro (EUR) Forecast: EYR/USD and EUR/GBP Week Ahead Outlooks

Inflation in the Euro Area continue to fall with the latest reading showing a showing downturn . . . → Read More: Euro Area Inflation Falls Sharply, EUR/USD Slips on Heightened ECB Rate Cuts Expectations

Article by IG Chief Market Analyst Chris Beauchamp

Dow Jones, Nasdaq 10, Nikkei 225 – Prices, Charts, and Analysis

???Dow on the up once more

?The rally has recovered this week, canceling out expectations of at least a short-term pullback.?The July highs at 35,690 are now just a short distance away, and a . . . → Read More: Dow, Nasdaq 100 and Nikkei 225 Look for Further Gains????

POUND STERLING ANALYSIS & TALKING POINTS Dovish Fed narrative holds strong in support of sterling. US core PCE price index under the spotlight later today. GBP/USD uncertain at overbought levels.

Elevate your trading skills and gain a competitive edge. Get your hands on the BRITISH POUND Q4 outlook today for exclusive insights into key . . . → Read More: GBP Price Forecast: Pound Being Dictated to by US Economy

OIL PRICE FORECAST: Oil Continues to Advance as Market Participants Eye Further Cuts by OPEC+. Rumors Suggest That There is Still Disagreements Regarding 2024 Quotas Within OPEC+. WTI Faces Technical Hurdles While Retail Traders are Overwhelming long on WTI at Present. To Learn More About Price Action, Chart Patterns and Moving Averages, Check out . . . → Read More: Oil Price Forecast: WTI Faces Technical Hurdles as OPEC+ Rumors Swirl

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USD/JPY TECHNICAL ANALYSIS

While USD/JPY has been on a major bullish run since the beginning of . . . → Read More: US Dollar on Bearish Path – Technical Setups on USD/JPY, USD/CAD, AUD/USD

US GDP KEY POINTS:

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Recommended by . . . → Read More: US Q3 GDP Revised Up To 5.2% as Gold Remains Unfazed, DXY Bounces

German CPI, Euro News and Analysis German disinflation marches on – prices rise at a slower rate in November Upward revision to US Q3 GDP upstages the CPI data EU Inflation data out tomorrow and is expected to reveal further progress

Inflation in Germany dropped to 3.2% compared to November 2022 and represented . . . → Read More: EU Breaking News: German Inflation Drops as Disinflationary Trend Continues

British Pound: GBP/USD Charts and Analysis US rate expectations now point to a 25bp rate cut in May and a total of 125bps in 2024. US GDP and inflation data will be the key drivers of short-term momentum.

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Get . . . → Read More: British Pound Latest: GBP/USD Consolidates After Latest Surge Higher

FTSE 100, DAX 40, Russell 2000 – Analysis and Charts

???FTSE 100 remains under pressure

?The FTSE 100 slid to 7,402 on Tuesday despite stocks like Rolls-Royce rising by +6.2% after setting more ambitious targets for cash flow and return on capital by 2027. ?Together with the October-to-November uptrend channel support line at 7,400, . . . → Read More: While the FTSE 100 and Russell 2000 Struggle, the DAX 40 Ploughs Ahead

USD/JPY News and Analysis Japanese gauge of widespread inflation rises at its fastest pace since 2001 USD/JPY heads lower as the dollar slides further JPY remains heavily net-short (large speculators) but not as short as last week The analysis in this article makes use of chart patterns and key support and resistance levels. . . . → Read More: USD/JPY Update: Gauge of Widespread Inflation Hits 2001 Levels

GOLD OUTLOOK & ANALYSIS Falling real yields make gold more attractive to investors. US economy in focus later today. Bearish/negative divergence on daily gold chart could bring bears back into the picture.

Elevate your trading skills and gain a competitive edge. Get your hands on the GOLD Q4 outlook today for exclusive insights . . . → Read More: XAU/USD Price Forecast: Are Gold Prices Jumping the Gun?

Oil Analysis, Prices, and Charts The virtual OPEC+ meeting starts on Thursday and may prove fractious. Oil prices are set to tread water ahead of any announcements.

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. . . → Read More: Oil Latest – Traders on the Sidelines as OPEC+ Meeting Nears

EUR/USD Analysis EUR/USD finds resistance at significant Fibonacci level – EU and US inflation data to guide shorter-term price action later in the week Disinflation in Europe could lead the way for developed economies The analysis in this article makes use of chart patterns and key support and resistance levels. For more information . . . → Read More: EUR/USD Price Outlook: High Impact EU, US Inflation Data to Guide Price Action

Article by IG Chief Market Analyst Chris Beauchamp

Dow Jones, Nasdaq 100, Nikkei 225 – Analysis and Charts

???Dow rally sees slower going

?The rally has slowed in recent days, though sellers have been unable to establish control even in the short-term timeframes.?Further gains continue to target the summer 2023 highs above 35,600, . . . → Read More: Dow, Nasdaq 100 and Nikkei 225 see Bullish Momentum Fade after Month-Long Surge

Oil (Brent, WTI) News and Analysis Delayed OPEC+ meeting to take place on Thursday at 13:00 GMT – individual quotas and supply cuts remain central to the meeting Brent crude prices head lower after notable rejection at the intersection of the crucial $82 level and the 200 SMA WTI flat ahead of OPEC . . . → Read More: Brent, WTI Oil Prices Await OPEC Supply Cut Quotas for 2024

GBP/USD Analysis and Charts BoE governor Bailey warns on UK inflation and growth. Sterling remains underpinned as rate cut hopes are pushed back.

For all market-moving economic data and events, see the DailyFX Calendar

?Most Read: British Pound Latest – GBP/USD Boosted by Positive PMI Data

Recommended by Nick Cawley . . . → Read More: British Pound Latest: GBP/USD Remains Supported, BoE Warn on Inflation

Gold (XAU/USD) and Silver (XAG/USD) Analysis and Charts Gold breaks higher, resistance yields. Silver rallies by 2% and outperforms gold.

DailyFX Economic Calendar

Most Read: Gold (XAU/USD) Price Setting Up for a Re-Test of Multi-Month Highs

The US dollar is moving back to lows last seen in late August and this is giving . . . → Read More: Gold (XAU/USD) and Silver (XAG/USD) Continue to Rally as Buyers Take Charge

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, S&P 500 – Analysis and Charts

???FTSE 100 remains side-lined

?Last week the FTSE 100 traded sideways below the 55-day simple moving average (SMA) at 7,505, and this week is expected to continue to do so, at least for a few more . . . → Read More: FTSE 100, DAX 40 and S&P 500 Begin the Week on a Quiet Note

USD/JPY ANALYSIS & TALKING POINTS Japanese inflation keeps pressure on BoJ to shift policy. Strong emphasis on US economic data that includes core PCE. Upside risks remain despite solid start to the week for the yen.

Supercharge your trading prowess with an in-depth analysis of the Japanese Yen outlook, offering insights from both . . . → Read More: USD/JPY Weekly Forecast: BoJ Policy Change Reinforced by Japanese CPI

Market Week Ahead: Gold Tests $2k, GBP/USD, EUR/USD Pop, USD Sags

Markets remain risk-on with a range of US equity markets posting fresh multi-month highs. The VIX ‘fear gauge’ is at lows last seen at the start of 2020 and has fallen in excess of 46% from its late-October spike high. The growing feeling . . . → Read More: Market Week Ahead: Gold Tests $2k, GBP/USD, EUR/USD Pop, USD Sags

US PMI KEY POINTS: S&P Global Composite PMI Flash (Nov) Actual 50.7 Vs Previous 50.7. S&P Global Manufacturing PMI Flash (Nov) Actual 49.4 Vs Forecast 49.8. S&P Global Services PMI Flash (Nov) Actual 50.8 Vs Forecast 50.4. Employment Declined at US Service Providers and Manufacturers in November for the First Time Since Mid-2020 Amid . . . → Read More: US Dollar Index (DXY) Unfazed as Business Activity in the US Held Firm

Gold (XAU/USD) Analysis, Prices, and Charts Gold looking to push higher despite quiet conditions. Gold ignoring higher US bond yields.

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DailyFX Economic Calendar

Gold is edging higher in a quiet market and looks ready to . . . → Read More: Gold (XAU/USD) Price Setting Up for a Re-Test of Multi-Month Highs

Japanese Yen News and Analysis Month on month Japanese inflation rose at its fastest pace in 10 years Extreme short yen positioning yes to be tested during thin, holiday affected trading USD/JPY on track for a flat two-day period ahead of Thanksgiving weekend The analysis in this article makes use of chart patterns and . . . → Read More: Japanese Inflation (MoM) Accelerates to 10-Year High, USD/JPY Holds Firm

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, Nasdaq 100 – Analysis and Charts

???FTSE 100 continues to be side-lined

?The FTSE 100 continues to be range bound below the 55-day simple moving average (SMA) at 7,505. Despite UK consumer confidence rising in November a negative bias has been seen . . . → Read More: DAX 40, Nasdaq 100 on Track for Fourth Straight Week of Gains while FTSE 100 Lags

EUR/USD ANALYSIS Mixed euro area inputs are providing no firm guidance as to the path forward. German Ifo business climate report and ECB officials under the spotlight. EUR/USD consolidating in anticipation of fundamental catalysts.

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DXY, EUR/USD, GBP/USD PRICE, CHARTS AND ANALYSIS:

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US DOLLAR FUNDAMENTAL BACKDROP

The US Dollar Index (DXY) has struggled to maintain the upside . . . → Read More: US Dollar Price Action Setups: DXY, EUR/USD, GBP/USD

BITCOIN, CRYPTO KEY POINTS: Bitcoin Remains Below the $38k Mark as Rangebound Trade Continues. Crypto Industry Relatively Calm Despite Record Breaking Binance Fine and New CEO for the World’s Largest Crypto Exchange. Coinbase Appears to be an Unlikely Winner as it Continues to Advance. To Learn More AboutPrice Action,Chart Patterns and Moving Averages,Check . . . → Read More: Bitcoin Steady as Coinbase (Coin) Emerges as Winner from Binance Saga

Gold (XAU/USD) Analysis Gold expected to underwhelm this Thanksgiving weekend amid thin trading XAU/USD reveals an aversion to trading above $2000 as ceasefire tests safe haven appeal USD and Treasury yields remain a factor as markets lower expectations of rate cuts next year The analysis in this article makes use of chart patterns . . . → Read More: Gold Cautious Above $2000 on Thin, Holiday Affected Trading

Japanese Yen (JPY) Analysis and Charts

• USDJPY retreat has slowed into the Thanksgiving Break

• Latest Fed Minutes were seen as hawkish

• Japanese inflation numbers come as BoJ policy is in focus

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The . . . → Read More: Japanese Yen (JPY) Pares Some Losses As Key Inflation Data Near

RAND TALKING POINTS & ANALYSIS SARB keeps rates at 8.25% since their last hike in May 2023. Low trading volumes today will likely extend throughout the remaining trading session. USD/ZAR hovers around key resistance.

Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get you FREE . . . → Read More: ZAR Breaking News: Rand Unmoved by SARB Pause

GBP/USD Analysis and Charts Better than expected PMI data underpins Sterling’s recent rally. Cable (GBP/USD) prints a fresh 10-week high.

For all market-moving economic data and events, see the DailyFX Calendar

?The latest UK S&P Global PMIs beat both last month’s prints and expectations earlier today, with the all-important services sector leading the . . . → Read More: British Pound Latest: GBP/USD Boosted by Positive PMI Data

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, CAC 40, DAX40: Analysis and Charts

???FTSE 100 continues to be side-lined

?The FTSE 100 still range trades below its 55-day simple moving average (SMA) at 7,506 following the chancellor’s autumn statement which despite promising significant tax cuts leaves the UK tax burden at . . . → Read More: FTSE 100, CAC 40 and DAX 40 Quietly Advance in Low Volume Trading???

Euro Analysis German manufacturing and services sectors register meagre surprise to the upside EUR/USD rises but pulls back to levels observed ahead of the release Few catalysts this week point to potentially lower volatility as markets speculate on 2024 rate cutting cycle The analysis in this article makes use of chart patterns and . . . → Read More: EUR/USD Price Update: German PMI Points Towards Shallow Downturn

AUD/USD ANALYSIS & TALKING POINTS Australian PMI’s concerning but encouraging news from China and a weaker USD keep the AUD elevated. Thanksgiving Day sees no additional high impact data scheduled for today. AUD/USD faces key resistance at 200-day MA.

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AUD/USD, GBP/AUD PRICE, CHARTS AND ANALYSIS:

Most Read: Gold Price Forecast: Rejection at $2000 Level Leaves the Door Open for a Move Lower

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. . . → Read More: Australian Dollar Price Action Setups: AUD/USD, GBP/AUD

GOLD (XAU/USD) PRICE FORECAST:

MOST READ: USD/CAD Remains Rangebound as Canadian CPI Falls More Than Expected. Where to Next?

Gold prices continue to find acceptance above the $2000/oz a step to far. Yesterday saw an aggressive push above the resistance level only foe the Daily Candle to close back below the psychological level. Another . . . → Read More: Gold Price Forecast: Rejection at $2000 Level Leaves the Door Open for a Move Lower

Oil (Brent, WTI) News and Analysis EIA storage figures reveal increasing stock levels – keeping prices suppressed Brent crude pullback has proven to be short lived after failing to surpass 200 SMA WTI revealing a bearish formation (evening star) at notable level of resistance The analysis in this article makes use of chart . . . → Read More: Oil Price Update: OPEC Delays Meeting and EIA Storage Data Rises Again

Main Takeaways from the 2023 UK Autumn Statement Main national insurance rate to be cut by 2%, from 12% to 10% for 27 million people Full expensing of capital investment for businesses made permanent. Business investment to improve by £20bn per year according to estimates State pensions to rise by 8.5% from April . . . → Read More: UK Autumn Statement: Tax Cuts, Business Investment and Debt Reduction

USD/JPY ANALYSIS Grim outlook from Japanese assessment keep JPY upside limited this morning. Durable goods orders, consumer sentiment and jobless claims needed for overall US economic outlook. Can JPY bulls extend recent upside?

Elevate your trading skills and gain a competitive edge. Get your hands on the JAPANESE YEN Q4 outlook today for . . . → Read More: JPY Price Forecast: BoJ Hopeful for Softer USD

EUR/USD Forecast – Prices, Charts, and Analysis FOMC minutes give little away, leaving the US dollar rudderless. UK Autumn Statement may give Sterling a boost.

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The Federal Reserve . . . → Read More: Euro (EUR) Latest: EUR/USD and EUR/GBP Leaking Lower Ahead of Thanksgiving Break

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, S&P 500, Russell 2000 – Analysis and Charts

???FTSE 100 consolidates below last week’s high

?The FTSE 100’s recent attempts to reach last week’s high at 7,535 have so far failed with the index being capped by the 55-day simple moving average (SMA) at . . . → Read More: FTSE 100, S&P 500 and Russell 2000 Consolidate Ahead of Thanksgiving

Japanese Yen Analysis Japanese Yen backs away from supposed intervention trigger after renewed strength USD/JPY breaks beneath a dynamic level of prior support Japanese yen is most heavily shorted since at least 2020, posing risk of a short squeeze The analysis in this article makes use of chart patterns and key support and . . . → Read More: USD/JPY Latest: Yen Strengthens Ahead of Japanese CPI Report

RAND TALKING POINTS & ANALYSIS Rand remains buoyant on weaker USD and positive leading business cycle figures. FOMC minutes to come later today. Bullish divergence progressing off long-term support. USD/ZAR FUNDAMENTAL BACKDROP

Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get you FREE guide now!

. . . → Read More: USD/ZAR Price Forecast: Rand Susceptible to SA CPI & SARB

Gold (XAU/USD) Analysis, Prices, and Charts US dollar weakness may be put on hold ahead of the Thanksgiving Holiday The technical set-up for gold looks positive.

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. . . → Read More: Gold (XAU/USD) Price Latest: Setting Up for the Next Leg Higher?

Aussie Dollar (AUD/USD, AUD/JPY) Analysis

• RBA minutes: Anchor inflation expectations while the cash rate is comparatively low

• AUD/USD retreats off intraday high and 200-day SMA – watch for further USD weakness

• IG client positioning narrows but recent changes favor upside potential

RBA minutes: Anchor inflation expectations while the cash rate . . . → Read More: RBA Minutes Reveal Motive Behind the November Hike

Article by IG Chief Market Analyst Chris Beauchamp

Dow Jones, Nikkei 225, CAC 40 – Analysis and Charts

???Dow above August and September highs

?The index has surged through the 35,000 level, reaching its highest level since the end of August.?The next target is the high from July around 35,680, and would mark . . . → Read More: Dow, Nikkei 225 and CAC40 Continue to Make Gains

Gold, Silver Analysis Gold eases after last week’s advance – quieter week on the economic calendar FOMC minutes and reports of a new phase in the Israel-Hamas war present potential catalysts Silver encounters a challenge at channel resistance The analysis in this article makes use of chart patterns and key support and resistance . . . → Read More: Gold Price Outlook: XAU/USD Starts the Week Lower, FOMC Minutes Next

EUR/USD ANALYSIS Weak US dollar providing sustenance for EUR. ECB officials in focus today. EUR/USD hits overbought zone on RSI, is bullish momentum fading?

Elevate your trading skills and gain a competitive edge. Get your hands on the Euro Q4 outlook today for exclusive insights into key market catalysts that should be on . . . → Read More: Euro Price Forecast: EUR Bid on USD Weakness as Vulnerabilities Remain

British Pound Latest: GBP/USD Analysis and Chart Cable gains on US dollar weakness. UK Autumn Statement is released on Wednesday.

For all market-moving economic data and events, see the DailyFX Calendar

Ahead of this week’s Autumn Statement, UK PM Rishi Sunak is promising to reduce debt and cut taxes in an effort to . . . → Read More: British Pound Latest: GBP/USD Testing 1.2500 on US Dollar Weakness

Article by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, Nasdaq 100 Analysis and Charts

???FTSE 100 nears last week’s high

?Despite disappointing UK retail sales, which last week slid to their lowest level since the 2021 COVID-19 lockdown, the FTSE 100 remains on track to reach last week’s high at 7,535 . . . → Read More: ???FTSE 100, DAX 40 and Nasdaq 100 Pause after Three Weeks of Strong Gains???

AUD/USD ANALYSIS & TALKING POINTS Encouraging Chinese expectations keep AUD bid. All eyes on RBA and FOMC minutes tomorrow. AUD/USD bulls eye 200-day MA.

Elevate your trading skills and gain a competitive edge. Get your hands on the Australian dollar Q4 outlook today for exclusive insights into key market catalysts that should be . . . → Read More: AUD/USD Price Forecast: Positive Start for Aussie Dollar