Trade Arena: October 2023

Crude Oil Steadies as Markets Assess Middle East Risks Ahead of the Fed

The crude oil price is struggling for direction as the uncertainty for energy supply going forward weighs on sentiment. US Dollar gyrations are also dominating markets as the Fed decision looms.

https://www.dailyfx.com/news/crude-oil-steadies-after-as-markets-assess-middle-east-risks-ahead-of-the-fed-20231030.html?utm_source=dlvr.it&utm_medium=blogger

Canadian Dollar Outlook After BoC Stands Pat: USD/CAD, EUR/CAD, AUD/CAD

CAD is testing the lower end of the past one-year range against USD after BoC governor last week indicated that interest rates may have peaked. What is the outlook for USD/CAD, AUD/CAD, and EUR/CAD?

https://www.dailyfx.com/news/canadian-dollar-outlook-after-boc-stands-pat-usd-cad-eur-cad-aud-cad-20231030.html?utm_source=dlvr.it&utm_medium=blogger

Gold Price Jumps Hurdles Ahead of Fed and Despite a USD Rally. Higher XAU/USD?

The gold price steadied to start the week after climbing to a five-month peak last Friday. The precious metal has overcome higher Treasury yields and a solid US Dollar.

https://www.dailyfx.com/news/gold-price-jumps-hurdles-ahead-of-fed-and-despite-a-usd-rally-higher-xau-usd-20231030.html?utm_source=dlvr.it&utm_medium=blogger

Markets Week Ahead: Nasdaq, Gold, US Dollar; FOMC, BOJ, BoE, China PMI, Euro Area Inflation, US Jobs

Key focus in the coming week will be on the Q3 earning season, the Fed, the BOJ, and the BoE interest rate decisions. In addition, geopolitical developments in the Middle East and global manufacturing activity data will be closely watched.

https://www.dailyfx.com/news/markets-week-ahead-nasdaq-gold-us-dollar-fomc-boj-boe-china-pmi-euro-area-inflation-us-jobs-20231029.html?utm_source=dlvr.it&utm_medium=blogger

Japanese Yen (USD/JPY) Testing 150 Resistance Ahead of Bank of Japan Policy Decision

Next week’s Bank of Japan meeting is likely to be one of the most interesting meetings in years as the Japanese central bank mulls tightening monetary policy

https://www.dailyfx.com/news/japanese-yen-usd-jpy-testing-150-resistance-ahead-of-bank-of-japan-policy-decision-20231027.html?utm_source=dlvr.it&utm_medium=blogger

GBP/USD Falls Ahead of High Importance US Data

Cable loses ground against a rejuvenated US dollar ahead of top tier US GDP and inflation data. Central bank meetings from the Fed and BoE on the agenda next week

https://www.dailyfx.com/news/gbp-usd-falls-ahead-of-high-importance-us-data-20231026.html?utm_source=dlvr.it&utm_medium=blogger

FTSE 100, Dax and Dow Rebound from Recent Lows

Indices staged a recovery on Tuesday, but morning trading so far has been cautious.

https://www.dailyfx.com/news/ftse-100-dax-and-dow-rebound-from-recent-lows-20231025.html?utm_source=dlvr.it&utm_medium=blogger

Nasdaq 100 & S&P 500 Hold Support, while Nikkei 225 Remains Above the 200-day Moving Average

The selling has paused in indices for now, with the Nasdaq 100 and S&P 500 holding their September lows and the Nikkei 225 avoiding a close below the 200-day moving average.

https://www.dailyfx.com/news/nasdaq-100-s-p-500-hold-support-while-nikkei-225-remains-above-the-200-day-moving-average-20231024.html?utm_source=dlvr.it&utm_medium=blogger

Bitcoin Breaks Psychological 30k Level as Spot ETF Approval Hopes Grow

Bitcoin rally gathers steam and trades above the 30k mark. Will a Potential Spot ETF approval ramp up institutional fund involvements and push prices higher?

https://www.dailyfx.com/news/bitcoin-breaks-psychological-30k-level-as-spot-etf-approval-hopes-grow-20231023.html?utm_source=dlvr.it&utm_medium=blogger

Euro Latest: Germany Likely Contracted in Q3, PMI and ECB Meeting Next

Germany’s Bundesbank issued a report stating that a Q3 contraction is likely to have transpired. The ECB is expected to keep interest rates at 4% according to markets

https://www.dailyfx.com/news/euro-latest-germany-likely-contracted-in-q3-pmi-and-ecb-meeting-next-20231023.html?utm_source=dlvr.it&utm_medium=blogger

Gold (XAU/USD) Outlook – Will Soaring US Bond Yields Stop Another Attempt at $2k?

The precious metal made an attempt to break $2,000/oz. late Friday but was unable to keep momentum going for long enough

https://www.dailyfx.com/news/gold-xau-usd-outlook-will-soaring-us-bond-yields-stop-another-attempt-at-2k-20231023.html?utm_source=dlvr.it&utm_medium=blogger

British Pound (GBP/USD) Latest – Volatility on the Horizon?

Credit ratings agency Moody’s has changed its outlook for the UK from negative to stable and confirmed the countries’ Aaa3 rating

https://www.dailyfx.com/news/british-pound-gbp-usd-latest-volatility-on-the-horizon-20231023.html?utm_source=dlvr.it&utm_medium=blogger

Japanese Yen Eyes New Lows as Markets Speculate on BoJ Action. Intervention Ahead?

The Japanese Yen is facing scrutiny to start the week with USD/JPY edging toward prior peaks on growing unease around potential BoJ intervention. If USD/JPY pops, will the bank be selling?

https://www.dailyfx.com/news/japanese-yen-eyes-new-lows-as-markets-speculate-on-boj-action-intervention-ahead-20231023.html?utm_source=dlvr.it&utm_medium=blogger

Gold Price Slips After Stellar Rally Despite Lofty Treasury Yields. Higher XAU/USD?

The gold price pulled back to start the week after notching a five-week peak last Friday. Higher Treasury yields and US Dollar look to have been overrun by swirling risks elsewhere.

https://www.dailyfx.com/news/gold-price-slips-after-stellar-rally-despite-lofty-treasury-yields-higher-xau-usd-20231023.html?utm_source=dlvr.it&utm_medium=blogger

Markets Week Ahead: S&P 500, Gold, US Dollar; Powell, ECB, BoC, Australia CPI, Germany Ifo, UK jobs

Conflict in Middle East and US earnings season are likely to be key drivers of broader market sentiment in the coming week. Currency markets would be watching for cues from Powell speech, European Central Bank and Bank of Canada interest rate decisions.

https://www.dailyfx.com/news/markets-week-ahead-s-p-500-gold-us-dollar-powell-ecb-boc-australia-cpi-germany-ifo-uk-jobs-20231022.html?utm_source=dlvr.it&utm_medium=blogger

Gold/Silver Weekly Forecast: A Dead-Cat Bounce or Game Changer?

The sharp bounce in gold and silver recently has raised questions on whether it is time to reassess the bearish outlook. Is it time to reassess the broader outlook?

https://www.dailyfx.com/news/gold-silver-weekly-forecast-a-dead-cat-bounce-or-game-changer-20231021.html?utm_source=dlvr.it&utm_medium=blogger

XAU/USD Price Forecast: Investors Seek Out Golds Safety

Gold prices rallied on the back of its safe haven allure while falling rate expectations saw US real yields fall. XAU/USD now approaches July swing highs.

https://www.dailyfx.com/news/forex-xau-usd-price-forecast-investors-seek-out-golds-safety-wv-20231020.html?utm_source=dlvr.it&utm_medium=blogger

Dow, Nasdaq 100 and Nikkei 225 Come under Fresh Pressure

Risk aversion has gripped indices, prompting further losses for global stock markets.

https://www.dailyfx.com/news/dow-nasdaq-100-and-nikkei-225-come-under-fresh-pressure-20231019.html?utm_source=dlvr.it&utm_medium=blogger

Oil Price Outlook: Crude Spiked after Iran Calls for Embargo on Israel

Developments in Gaza over the last 24 hours sidelined diplomatic efforts to stabilize tensions in the Middle East. Oil prices rose after Iran called for an oil embargo on Israel

https://www.dailyfx.com/news/oil-price-outlook-crude-spiked-after-iran-calls-for-embargo-on-israel-20231018.html?utm_source=dlvr.it&utm_medium=blogger

USD/ZAR Price Forecast: Rand Trades Cautiously Post-CPI

Rand prices softened after South African core inflation missed forecasts. USD/ZAR now hovers around the longstanding 18.7759 support level.

https://www.dailyfx.com/news/forex-usd-zar-price-forecast-rand-trades-cautiously-post-cpi-wv-20231018.html?utm_source=dlvr.it&utm_medium=blogger

US Dollar Steadies as Treasury Yields Surge, WTI Crude Gains and EUR/USD Firms

The US Dollar clambered for ground after blistering retail sales figures boosted Treasury yields as the unfolding Middle East conflict lifts risks across the globe. Lower EUR/USD?

https://www.dailyfx.com/news/us-dollar-steadies-as-treasury-yields-surge-and-wti-crude-gains-and-eur-usd-firms-20231018.html?utm_source=dlvr.it&utm_medium=blogger

Indices Moving Higher Despite Fears of Widening Middle East Conflict

Indices recovered on Monday, but with conflict fears and a wave of earnings this week momentum has stalled.

https://www.dailyfx.com/news/indices-moving-higher-despite-fears-of-widening-middle-east-conflict-20231017.html?utm_source=dlvr.it&utm_medium=blogger

AUD Price Forecast: Aussie Dollar Reacts Positively to RBA Minutes

AUD prices found support after testing yearly lows last week via the recent RBA minutes, improvement in risk sentiment and higher iron ore prices.

https://www.dailyfx.com/news/forex-aud-price-forecast-aussie-dollar-reacts-positively-to-rba-minutes-wv-20231017.html?utm_source=dlvr.it&utm_medium=blogger

HK/China Equities Search for Upward Momentum: Hang Seng, CSI 300 Setups

The Hang Seng Index’s rebound early last week ran out of steam toward the end of the week, suggesting that a meaningful upward momentum is lacking in Hong Kong/China equities despite the support/stimulus measures in recent months.

https://www.dailyfx.com/news/hk-china-equities-search-for-upward-momentum-hang-seng-csi-300-setups-20231016.html?utm_source=dlvr.it&utm_medium=blogger

Australian Dollar Bumps Up but US Dollar Moves Might be Key. Will AUD/USD Rally?

The Australian Dollar nudged higher to start the week with the US Dollar easing a touch as markets assess elevated Treasury yields and a Middle East conflict. Where to for AUD/USD.

https://www.dailyfx.com/news/australian-dollar-bumps-up-but-us-dollar-moves-might-be-key-will-aud-usd-rally-20231016.html?utm_source=dlvr.it&utm_medium=blogger

Markets Week Ahead: Gold, Crude Oil, Geopolitical Tensions, US Dollar, Fed, China GDP

Gold prices soared in the best week since the middle of March, crude oil also outperformed amid geopolitical volatility. Ahead, all eyes are on a speech from Jerome Powell and Chinese GDP data. What else is in store for markets ahead?

https://www.dailyfx.com/news/markets-week-ahead-gold-crude-oil-geopolitical-tensions-us-dollar-fed-china-gdp-20231015.html?utm_source=dlvr.it&utm_medium=blogger

EUR/USD Weekly Forecast: Euro Weaker on Geopolitics & US Inflationary Pressures

EUR/USD prices are subdued as risk aversion takes hold and favors the more defensive USD. Euro traders now look to US retail sales and eurozone inflation this week.

https://www.dailyfx.com/news/forex-eur-usd-weekly-forecast-euro-weaker-on-geopolitics-us-inflationary-pressures-wv-20231014.html?utm_source=dlvr.it&utm_medium=blogger

AUD Price Forecast: Aussie Dollar Remains Vulnerable

AUD prices failed to extend its recent rally as the USD garners favor from risk off sentiment as well as some core inflation persistence.

https://www.dailyfx.com/news/forex-aud-price-forecast-aussie-dollar-remains-vulnerable-wv-20231013.html?utm_source=dlvr.it&utm_medium=blogger

FTSE 100, DAX 40 and S&P 500 Capped by Key Resistance on Uptick in US inflation

Outlook on FTSE 100, DAX 40 and S&P 500 as US CPI comes in slightly higher-than-expected.

https://www.dailyfx.com/news/ftse-100-dax-40-and-s-p-500-capped-by-key-resistance-on-uptick-in-us-inflation-20231013.html?utm_source=dlvr.it&utm_medium=blogger

Cable at the Mercy of the Dollar, UK jobs and Inflation Data Next

Employment and CPI data next week can place the pound back into the driving seat after USD data directed the GBP/USD relief rally

https://www.dailyfx.com/news/pound-sterling-at-the-mercy-of-the-dollar-uk-jobs-and-inflation-data-next-20231013.html?utm_source=dlvr.it&utm_medium=blogger

US Dollar Post-CPI Rally May Reverse, EUR/USD Creeping Higher

The US dollar rallied sharply Thursday after a marginally higher-than-expected US inflation reading was released. Is a 0.1% miss on US headline CPI data that bad?

https://www.dailyfx.com/news/us-dollar-post-cpi-rally-may-reverse-eur-usd-creeping-higher-20231013.html?utm_source=dlvr.it&utm_medium=blogger

USD/JPY Price Forecast: Yen Wary on US CPI Forecasts

USD/JPY looks to US CPI for help in terms of the Fed’s interest rate cycle moving forward, while Yen bulls keep a close eye on the 150 resistance level.

http://gestyy.com/ehhwwD

Gold Price Update: Safe Haven Metal Pauses with Further Upside in Reach

The global shift towards safe-haven assets amid the Israel-Hamas war abruptly ended gold’s selloff. The precious metal now has $1875 in sight as fighting continues

http://festyy.com/ehghy6

US Equities Technical Outlook: Range-Bound with Downside Potential

The equity selloff the end of Q3 places the major US indices at a crucial level of support. Failure of support with sustained momentum leaves stocks open to further downside

http://destyy.com/ehfSRt

Oil Fundamental Forecast: Can Q4 Sustain Oil Gains?

Q4 crude oil outlook focused on OPEC+, monetary policy and global economic growth conditions.

http://corneey.com/ehfkCV

The Range Trade is Alive and Well as Markets Ponder Central Bank Rate Strike

Range Trading Unfolds as Several Major Global Central Banks May Have Put the Cue Back in the Rack on Rate Rises.

http://corneey.com/ehfkCf

XAU/USD Price Forecast: Gold Dulls Further on Soaring Real Yields

Gold prices look to Fed speak & ISM services PMI for guidance and whether or not bears can take XAU/USD down towards the $1800/oz mark.

http://ceesty.com/ehsLCM

GBP/USD Price Forecast: Pound Plunges Towards 1.20

The pound weakened against the USD after US Treasury yields rallied coupled with some hawkish Fed speak which will continue today.

http://gestyy.com/ehsQdE

Gold Latest - XAU/USD Slump Continues as US Bond Yields Remain Elevated

Gold losses persist with the precious metal printing yet another red candle with XAU/USD nearly $100 lower since last Monday

http://gestyy.com/eha9pY

Bitcoin & Ethereum Jump: BTC/USD & ETH/USD Price Action

The break above minor resistance in Bitcoin and Ethereum has reduced some of the immediate downside risks. Can cryptocurrencies sustain gains? What is the outlook and what are the key levels to watch?

http://festyy.com/ehaDY9

Asia Day Ahead: China’s PMI Mixed, BOJ Minutes Well-Received by Nikkei

The softening in US August core PCE inflation failed to drive a sustained rebound in Wall Street last Friday. China and Hong Kong markets are closed today.

http://festyy.com/ehaA1X

Crude Oil Q4 Technical Forecast: How High Can it Go?

Crude oil technical analysis shows Q4 could take prices towards the $100 mark but remain around overbought levels which could limit upside

http://festyy.com/ehav53

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