WTI Oil Continues to Weaken as COP28 Deal Fails to Find Consensus
The UN climate change conference (COP28) failed to reach agreement on the phasing out of fossil fuels on Tuesday. Growth concerns eyed ahead of FOMC projections
US Inflation in Line with Estimates but MoM CPI Rises, DXY Ticks Higher
US inflation was largely in line with estimates but the increase in the MoM CPI and Core MoM prints mean the Fed are likely to push back on growing rate cut expectations.
ZAR Price Update: Rand Subject to US CPI
Rand prices rallied this Tuesday on some encouraging South African production data while USD/ZAR traders keenly await US CPI later today.
Dow and Nasdaq 100 make Headway but Nikkei 225 Stumbles
While US indices are looking strong ahead of today’s CPI reading, the Nikkei 225 has been hit by some selling.
BoJ Chatter Sends Mixed Messages, USD/JPY Softer Ahead of US CPI
Communication from BoJ officials has prompted a seesaw reaction in the yen. Anticipation of a policy pivot builds but officials are yet to be convinced it will happen soon
Euro (EUR) Update: EUR/USD Testing 1.0800, ZEW Sentiment Better-Than-Expected
The latest ZEW economic sentiment data showed optimism picking up in Germany and the Euro Area, beating market forecasts, as economists eye lower interest rates next year
GBP Breaking News: Mixed UK Jobs Report Should Not Deter BoE
GBP prices remain resistant after UK jobs data provided some varied information. GBP/USD & EUR/GBP now look to US CPI & ZEW economic sentiment.
Gold Price Outlook Rests on US Inflation, Fed’s Guidance, Nasdaq 100 Breaks Out
This article examines gold and the Nasdaq 100’s technical outlook, analyzing market sentiment and critical price levels that may be relevant for traders in the coming days.
Oil Price Forecast: Oil Eyes Continued Recovery but Market Participants Remain Cautious
Oil prices remain under pressure as fund managers ramp up their bearish outlook and the IMF warns of the pitfalls to global growth should the global economy fragment into two blocs.
US Dollar Forecast: All Eyes on US Inflation, Setups on EUR/USD, USD/JPY, GBP/USD
This article analyzes the technical profile for major U.S. dollar FX pairs such as EUR/USD, USD/JPY and GBP/USD, examining critical price levels that could act as support or resistance ahead of U.S. CPI data.