Author: FX
Brent Crude Oil News and AnalysisFighting continues on multiple fronts as diplomatic efforts do little to calm tensionsBrent crude oil edges higher ahead of the weekendIG client sentiment hints at continued bullish momentum as traders pile into shortsThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free Oil Forecast Fighting Continues on Multiple Fronts as Diplomatic Efforts do Little to Calm TensionsRecent visits from US President Joe Biden and UK Prime Minister Rishi Sunak have yielded mixed results. After…
The European Central Bank (ECB) and the Bank of England (BoE) are both expected to maintain their current interest rates without any significant changes. ECB officials are generally leaning towards keeping rates stable, and the likelihood of a rate cut in the near future is low. In the central scenario, interest rates are expected to remain unchanged through the first half of next year. In the UK, there is a higher likelihood of an interest rate increase due to persistent inflation. However, the possibility that rates have already reached their peak is also becoming more likely as economic growth slows…
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, Russell 2000 Analysis and ChartsFTSE 100 falls out of bed on hawkish FedThe FTSE 100 once again failed in the 7,700 region and dropped by over 2.5% over the past couple of days as the US Federal Reserve (Fed) re-iterates its hawkish stance and US bond yields surge to 2006 and 2007 highs.The FTSE 100 is in the process of slipping to the May and early August lows at 7,438 to 7,433. Below this area lies the 7,401 late June low and further down the key September and October…
Global stock markets experienced a decline due to increased volatility resulting from escalating tensions in the Middle East, compounded by Fed Powell’s statement which added to the atmosphere of risk aversion. Longer dated yields have climbed again while the short end sustains some of its bid as curve steepening trades take hold. Powell commented that the economy remains resilient because rates have not been high enough for long enough, suggesting the hawkish stance will be maintained. In China, efforts to inject additional cash into the economy might provide support, especially as the country’s stocks had erased…
This will keep sentiment balanced on a knife’s edge over the weekend as tensions are flaring up at the Israel-Lebanon border. Hezbollah has long been poking to instigate a conflict but have been careful enough to avoid an all-out war. But amid the current situation between Israel and Hamas, a lot of the previous assumptions on military/conflict behaviour may be invalid.And that will maintain the shroud of uncertainty in the region for now. Gold is up 0.5% on the day to $1,983 while WTI crude is up 1.5% on the day to $89.74 currently. Source link
Share: EUR/GBP has tested the water above the 0.87 level. Economists at Rabobank analyze the pair’s outlook. Economic headwinds facing the Eurozone economy undermining the outlook for the EUR In view of the headwinds facing the Eurozone economy, we continue to see the outlook for GBP vs. the EUR as well balanced. Consequently, we maintain our preference of selling rallies in EUR/GBP with the view that the 0.87 to 0.85 range will largely prevail in the coming months. See: EUR/GBP could hit 0.90 next year – ING Source link
GOLD OUTLOOK & ANALYSISDeclining real yields and souring risk sentiment supports gold.Fed speakers to come later today as markets mull over Powell speech.Can overbought XAU/USD push higher?Elevate your trading skills and gain a competitive edge. Get your hands on the Gold Q4 outlook today for exclusive insights into key market catalysts that should be on every trader’s radar. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL FORECASTGold prices capitalized on the risk off mood across financial markets while receiving an additional boost from Fed Chair Jerome Powell last night. Tensions in the Middle East have been escalating…
Germany's producer prices drop 0.2% in September Source link
CAD/CHF is about to hit a major support zone! Can the pair bounce despite its uber-bearish downswing? The daily chart may provide some clues: CAD/CHF Daily Forex Chart by TradingView As you can see, back in late September CAD/CHF got rejected at the .6825 area that also happened to line up with a key area of interest this year. You know what else is shaping up as a major area of interest? The .6480 level! Not only did CAD/CHF turn higher from the area back in May but it also served as a solid support zone from mid-July to late…
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect Federal Reserve Chair Jerome Powell indicated on Friday that the current interest rates could remain steady, with a possibility of an increase if the robust economic growth continues. His comments align with market expectations for no rate hike at the Federal Reserve meetings scheduled for October 31 and November 1. Powell acknowledged that a sustained rise in long-term Treasury yields could reduce the need for future rate hikes. The decisions will be influenced by data, evolving outlooks, and risk balance. Following his speech, two-year Treasury yields declined while 10-year yields approached…