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GBP/USD analysis: Cable on verge of big breakout
In the week ahead, we have key UK inflation numbers and global PMI data to trigger the next move. Our GBP/USD analysis remains bullish because of our bearish view on the dollar.
EUR/USD, AUD/USD outlook: Forex Friday - May 17, 2024
Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the US dollar, euro and Aussie, and look ahead to the next week.
AUD/USD, ASX 200 eye a solid close for the week: Asian Open
AUD/USD and the ASX 200 have flourished this week thanks to renewed bets of Fed cuts, even though softer employment and wages data for Australia rekindled hopes of a lower RBA cash rate.
USD/CAD outlook dims as US data deteriorates further
The USD/CAD was back at the point of origin of Wednesday’s breakdown at 1.3630-1.3650 area. Could we see the Loonie head lower from here? This week’s disappointing US data certainly point to a dimmer USD/CAD outlook.
EUR/USD outlook remains positive, likely heading to 1.10
Despite the slow start to today’s session, the recent price action and improving eurozone sentiment suggests the EUR/USD outlook remains positive, with the exchange rate on course to potentially head towards the 1.10 handle.
AUD/USD breaks out, USD/JPY rolls over amidst worst day of 2024 for USD
The US dollar suffered its worst day of the year and Fed fund futures now imply with near certainty that the Fed will cut by September. And that saw AUD/USD breakout in style and USD/JPY roll over, breaking below two handles on Wednesday.
EUR/USD, DAX Forecast: Soft US Data Drives EUR/USD Higher and DAX to Record
The 1-2 combination of soft CPI and retail sales has driven EUR/USD higher and sent the DAX to fresh record highs.
USD could rally if CPI doesn’t soften from elevated levels: EUR/USD, AUD/USD
The US dollar continued to weaken ahead of today's US CPI report, helping EUR/USD and AUD/USD move towards key resistance levels. Yet traders will require a soft set of inflation figures for the pairs to stand any chance of breaking resistance.
USD falters ahead of US CPI, ASX set to track Wall Street higher? Asian Open
The USD was weaker despite higher producer prices, as traders placed greater emphasis on last month's figures being revised lower. And that now sees a 51% chance of a September Fed cut, according to Fed Fund futures.
AUD/USD forecast: Bullish break on the cards – Technical Tuesday
The AUD/USD forecast is turning somewhat positive, both from a macro perspective and technical viewpoint.
US CPI Preview: USD/JPY Vulnerable as Leading Indicator Points to a Decline in Inflation
USD/JPY could be vulnerable as cooling ISM Prices Paid and disinflationary base effects point to a potential decline in CPI inflation this month
EUR/USD analysis: Attention turns to key US inflation data
The EUR/USD analysis is currently looking positive, and the bulls would love to see weaker US inflation data this week to inspire a potential breakout above the key 1.08 resistance level.
GBP/USD forecast: Volatility expected with UK data, Powell on tap
Incoming UK data today could be the difference between the BOE cutting or holding in June. Add into the mix US producer prices and Powell speech, GBP/USD us a key market for forex traders to watch today.
US dollar stabilises ahead of Powell, PPI, USD/JPY eyes 157: Asian Open
The US dollar has regained its footing heading into a Powell speech and US PPI report, whilst USD/JPY looks set to break resistance and head for 157.
GBP/USD forecast supported ahead of key US data – Currency Pair of the Week
GBP/USD has been supported by stronger UK GDP ahead of wages data on Tuesday. Meanwhile, the US dollar has been hit by signs of cooling labour markets ahead of key inflation data on Wednesday. GBP/USD technical analysis points higher after breaking a bearish trend.
Futures traders reduce yen speculation after BOJ intervention: COT report
With asset managers and large speculators trimming long and short exposure to yen futures, their appetite to speculate on the currency appears to be waning after BOJ interventions.
British Pound Forecast: GBP/USD Enters a Key Period With Everything to Play For
GBP/USD slipped last week on a moderately dovish BOE – what should traders be watching this week?
USD/JPY analysis: Will MoF/BoJ intervene again as focus turns to US CPI?
Investors will be looking forward to the release of Consumer Price Index (CPI) on Wednesday, which is going to be the next big catalyst for the dollar and markets in general. The USD/JPY outlook could change dramatically should Japan intervene again.
GBP/USD outlook boosted by UK GDP ahead of key US data - Forex Friday
Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the British pound, US dollar and look ahead to the next week.
EUR/USD, AUD/USD, gold look set to take advantage of US dollar weakness
The US dollar snapped its 3-day winning streak and formed a bearish outside day, helping gold reach our upside target. EUR/USD and AUD/USD are now eyeing a move towards key resistance levels.
EUR/USD, DAX Forecast: DAX Surges to record highs as EUR/USD Consolidates
EUR/USD is consolidating, but optimism about falling interest rates and solid corporate performance has boosted the DAX to record highs above 18,600.
GBP/USD key levels into BOE, silver considers its next breakout
The big question for today is if the BOE will satisfy bearish market positioning with enough dovish talk to prevent shorts from covering, and inadvertently sending GBP/USD higher.
USD ‘rebound’ lacks the enthusiasm of last week’s selloff: Asian Open
The US dollar may have risen for a third day, yet bulls lack the conviction that bears displayed last week. And that suggests this bounce could be corrective.