Australian Dollar Buoyed by Sentiment as China Moves into Focus. Higher AUD/USD?
The Australian Dollar continued to climb at the start of the week with hopes of China’s re-opening lifting base metals and sinking the US Dollar. Where to for AUD/USD?
The Australian Dollar continued to climb at the start of the week with hopes of China’s re-opening lifting base metals and sinking the US Dollar. Where to for AUD/USD?
The Japanese Yen went lower again today as the market eyes the Bank of Japan meeting tomorrow where further tightening cannot be ruled out. Will a tilt see USD/JPY make new lows?
The Bank of Japan didn’t alter policy last night and a large wave of Yen-weakness appeared; but that’s been faded in most pairs already as markets brace for change from the BoJ, at some point.
Dax, Dow and FTSE have reached a pivot point that could influence their next move. With fundamental and technical headwinds at play, price action remains key.
Lower CPI and now PPI suggests that US inflation is dissipating. However, dismal US retail sales data during the holidays doesn’t bode well for stocks ahead of Q4 earnings
The US dollar trades just above a multi-month support level and with important US retail sales and PPI on deck, this zone may come under pressure.
Gold received support today from a weaker US dollar as markets keenly await U.S. PPI and retail sales figures for December. XAU/USD holding above $1900 for now.
EU delegates announced a response to the US Inflation Reduction Act to keep firms from heading abroad. Quieter calendar points to EUR/USD trend continuation
Oil rallies into an old level of resistance and looks set to press higher after this week’s positive Chinese growth data fuels sentiment.
GBP/USD reacted favorably to elevated UK inflation, placing the Bank of England in an interesting position ahead of next months interest rate decision.