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Bitcoin And Ethereum Forecast For The Week Of Mon, November 7
Bitcoin trades through $21000 level following NFP report. Ethereum continues bullish move after breaking trendline resistance. Focus remains on economic data, CPI in focus next week
Gold And Silver Technical Outlook: Modest Gains In The Cards?
There is a growing chance that gold may be forming a short-term floor and could rise toward the upper end of the recently established range.
Gold Prints A Triple Bottom, NFPs Could Cap Further Gains
XAU/USD Awaits NFP Data to Provide a Catalyst for its Next Move. Potential End of China’s Covid Flight Suspension Assisted Gold Rally. Range Between $1614-$1670 Still in Play.
Crude Oil Forecast: Brent Surges On Weaker USD As NFP Takes Centre Stage
Treasury yields continue to push higher, restricting brent crude upside. NFP in focus.
Bitcoin Price Outlook: BTC/USD Bounces Back Despite A Strong US Dollar
Bitcoin prices shrug off Fed’s hawkish commentary. BTC/USD supportive above $20000 as prices rise back into tight range. USD strength supported by interest rate expectations and rising yields
USD Forecast: DXY Pushes Upper Bounds Of Key Technical Pattern Post-FOMC
The Dollar Index’s rallied after last nights Federal Reserve interest rate decision bringing the Fed funds target rate to 3.75-4% after the 75bp increase. Fed Chair Powell reinforced the Fed’s intention to stamp out entrenched inflationary pressures.
EUR/USD Outlook: 0.9850 Support Holds Firm As Markets Await Clarity
The pair has retreated further from parity to retest last week’s trendline break. Will the FOMC meeting give the pair some much-needed direction?
Crude Oil Forecast: Brent Bid On Possible Reduction In China’s COVID Policies, API & FOMC
Unverified change in Chinese policy lifts Brent crude outlook. US stockpiles show marked decline. Is an emerging bullish crossover a precursor to higher prices?
USD/JPY Slips Back As Market Looks To Fed Chair Powell
The Japanese Yen saw some modest gains in Tuesday’s trade in a market clearly settling down to hear what the United States Federal Reserve will do and, perhaps as importantly, say, at the end of its midweek meeting Wednesday.
British Pound News: GBP Dictated By USD Ahead Of FOMC
GBP/USD remains planted around the 1.15 level while markets keenly await FOMC and BoE rate decisions.
GBP/USD’s Outlook Remains Bleak Ahead Of BoE’s November Meeting
New UK administration has brought more stability to the local bond and currency market, but economic slowdown and rising inflation pose greater risks.
XAU/USD Faces Renewed Selling Pressure As FOMC Beckons
Spot gold recorded its seventh consecutive month of losses. Can we stave off a drop below $1600?
AUD/USD Forecast: Aussie Inflationary Landscape A Cause For Concern
The Australian dollar is trading marginally stronger this morning after solid retails sales numbers complicate the RBA’s rate decision tomorrow.
Japanese Yen In Flux On Data And The Chinese Yuan Battles Soft Sentiment
USD/JPY is looking to higher levels despite mixed economic data. Yen weakening might have broader ramifications for the region. What’s good for the Yen might be good for the Yuan.
AUD/USD Eyes Australian Retail Sales And China PMI Data As Iron Ore Prices Pose Headwind
Asia-Pacific markets look to trade higher on Monday as yields fall. China’s manufacturing PMI data for October may dictate sentiment. AUD/USD may target the 50-day SMA if Fib support holds steady
Markets Week Ahead: Dow Jones, Nasdaq 100, US Dollar, AUD/USD, GBP/USD, Fed, RBA, BoE
Risk appetite notably improved this past week on Wall Street. Dow Jones futures lead the charge, surging 5.89% to the highest since late August.
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