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Palladium May Rise With Oil-Linked NOK On Powell Testimony
If Powell strikes unexpectedly optimistic tones – especially after last week’s NFP numbers – it may kindle risk appetite and boost demand for commodities like palladium and currencies like the oil-linked Norwegian Krone.
USD May Rise On Wuhan Virus Risk Ahead Of White House Budget
The US Dollar may rise on haven demand from coronavirus. Greenback also eyeing White House 2021 budget report.
Crude Oil Prices Dip Under $50 As Coronavirus, OPEC Dominate Trade
US crude oil prices edged back above $50/barrel in Asia’s session, but the market remains deeply concerned about the likely effect of coronavirus on Chinese and global demand.
Australian Dollar May Be Back To Virus-Watch After RBA Boost
The Australian Dollar has won some respite in the last week or so, thanks to the Reserve Bank of Australia, but it can’t hope for more in coming sessions which are likely to be dominated for financial markets by the spread of coronavirus.
USD Forecast: US Dollar Hinges On Virus Fear, Sentiment & Powell
The DXY Index – a basket of key US Dollar currency pairs – has climbed an impressive 2.3% so far this year to the 98.70 price level. A big breakdown in EUR/USD, which comprises over half of the DXY Index, has helped fuel broader US Dollar strength
USD/MXN Outlook: Mexican Peso Defies Fundamentals Ahead Of Rate-Cut Decision
The Mexican Peso has managed to remain strong and overpower the US dollar once again, despite no strength in its underlying economy.
Gold Prices Biased Higher With Powell Testimony, US CPI Eyed
Gold prices have held up in a narrow $1536-1612/oz range since the beginning of the year even as other benchmark assets gyrated with swings in underlying sentiment. This probably speaks to two sources of baseline support.
Crude Oil May Recover On Powell Testimony, Tariff Reduction
Impact of the Wuhan virus may have dented January economic statistics for January. Crude oil prices may fall since weaker growth would mean less demand for vital inputs in the global supply chain – like Brent.
Euro Weekly Price Forecast: Fundamentals, Data Suggest A Terminal Decline
Five down days in a row, taking a multi-month support level out along the way, spells trouble for EUR/USD going forward. A slew of Euro-Zone and German data this week disappointed and suggests that the single-blocks’ economy remains weak.
Loonie Mixed After Canadian Jobs: CAD/JPY, GBP/CAD & AUD/CAD
Canada posted a net change in employment of 34.5k jobs, beating expectations of 17.5k. The Lonnie initially moved higher on the report before returning to post-release levels.
Gold Prices Rally, USD/JPY Turns, AUD/USD Sets Fresh Decade Lows
This morning’s NFP report was strong all-around. This has mattered little, as risk aversion themes continue to show.
USD, AUD/USD, GBP/USD – Charts For Next Week
US Dollar Index (DXY) strength is continuing this morning for a 5th straight day, we’ll have to see if it can maintain or even further along following the release of NFPs.
Dow Jones, Nasdaq 100, S&P 500 Forecast: Resistance Looms At Record Levels
The Dow Jones tagged a fresh record on Thursday before retreating beneath horizontal resistance.
Canadian Dollar Price Outlook: USD/CAD Bulls Targeting Trend Extremes
USD/CAD rally approaching upper-bounds of consolidation pattern– bulls at risk into 1.3392.
Crude Oil Prices Up As China Pledges To Lift Some US Import Tariffs
Crude oil prices rose in Asia on Thursday, in step with a general revival in risk appetite.
Gold Technical Forecast: XAU Breakdown Finds Fibonacci Support
Gold price action has started pulling back, finding support at a Fibonacci level.
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