Share: CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions for the third straight session on Wednesday, now by around 20.5K contracts. In the same line, volume reversed two daily builds in a … [Continue reading]
Gold Price Forecast: XAU/USD sellers to remain in control whilst below 200 DMA at $1,922
Share: Gold price rebounds but not out of the woods yet, as ECB decision, US data loom. US Dollar, US Treasury bond yields stay defensive, as hot US inflation data fail to alter Fed’s outlook. Gold sellers are likely to keep charge so long as the … [Continue reading]
S&P 500 inches up amid mixed US inflation data: Is Wall Street pricing in a Fed rate peak?
Share: S&P 500 gains 0.12% to 4467.44, while Dow Jones drops 0.20%; Nasdaq 100 rises 0.29% amid mixed market sentiment. US CPI for August comes in at 3.7% YoY, exceeding forecasts, but core inflation drops to 4.3%, in line with expectations. … [Continue reading]
EUR/GBP Price Analysis: Slips below 0.8600 on tweezers-top and inverted hammer
Share: EUR/GBP trades at 0.8595, down 0.12%, as traders position for a possible ECB rate hike of 25 basis points. Daily chart shows a tweezers-top inverted hammer, indicating potential for further losses; key support at 50-day MA of 0.8580. … [Continue reading]
US CPI annual inflation comes in above expectations at 3.7%, Bitcoin price rests above $26,000
Share: US headline Consumer Price Index (CPI) rose by 3.7% on a yearly basis in August, exceeding expectations. Core CPI annual inflation came in at 4.3%, in line with forecasts Bitcoin price hovers above $26,000, with most of the crypto market … [Continue reading]
Brent Oil to target $96.50/$97.00 on defence of $87/$86.50 – SocGen
Share: Brent Crude Oil scales $92 for the first time since November 2022. Economists at Société Générale analyze Brent’s technical outlook. Signals of a meaningful down move are still not visible Brent has extended its uptrend after breakout from a … [Continue reading]
Silver Price Forecast: XAG/USD drops below $23.00 ahead of US Headline CPI
Share: Silver Price extends its losses due to recovery in the US Dollar (USD). Upbeat US Treasury yields could provide support in undermining the Silver asset. Elevated inflation figures could further reinforce the Fed’s hawkish tone, supporting … [Continue reading]
Japan BSI Large Manufacturing Conditions Index (QoQ) above forecasts (0.2) in 3Q: Actual (5.4)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
AUD/USD Forecast: Slightly bullish, limited while below 0.6440
Share: AUD/USD Current Price: 0.6422 Market remains relatively quiet, awaiting US CPI. The US Dollar Index holds near monthly highs. The AUD/USD is moving sideways with a mildly bullish bias. The AUD/USD experienced a slight pullback on Tuesday … [Continue reading]
USD Index: Break of 105.40/105.80 is essential for affirming a larger uptrend – SocGen
Share: The US Dollar Index (DXY) is approaching the hurdle from January/March highs of 105.40/105.80. Economists at Société Générale analyze DXY’s technical outlook. Recent pivot low near 102.90 should be an important support DXY formed an … [Continue reading]