Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

XAUUSD: Fake breakout or new reality?
XAUUSD: Fake breakout or new reality?

Gold price (XAU/USD) experienced a notable turnaround, gaining fresh bids after a $125 pullback from its recent peak. Federal Reserve Chair Jerome Powell's recent speech suggested a reluctance towards aggressive rate cuts, dampening speculations of immediate policy easing. Market sentiment leans towards the belief that the Fed has concluded its tightening cycle, with a growing...

Top Three Trade Ideas for December 2023
Top Three Trade Ideas for December 2023

Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means - time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops

Gold Breaks To New Highs. What Is Expected In December?
Gold Breaks To New Highs. What Is Expected In December?

Gold prices, reaching the highest since May 5, are consolidating as traders await the US PCE Price Index, a key inflation indicator. The upcoming data could impact the Fed's policy, influencing the demand for the US Dollar and providing direction for gold. The Greenback sees some repositioning, recovering modestly ahead of the data risk.

Can USD Recover?
Can USD Recover?

The EUR/USD pair is making gains, approaching multi-month highs around 1.0960, driven by a weakened USD and Christine Lagarde's somewhat hawkish remarks before the European Parliament. Minor housing data from the U.S., specifically New Home Sales for October, came in below expectations but didn't significantly impact the pair. Lagarde, President of the...

Stock Market Rally. How Far Can It Go?
Stock Market Rally. How Far Can It Go?

Global equities on Wall Street experienced a mixed session following the Thanksgiving holiday, heading for the most significant one-month rally since November 2020. MSCI's global shares index slightly eased but was still on track for an 8.5% monthly gain, fueled by growing investor confidence that U.S. interest rates...

OPEC Boosts The Oil Market
OPEC Boosts The Oil Market

Brent crude futures is maintaining stability this Friday, with traders awaiting an OPEC+ meeting that might lead to further supply cuts. Brent crude was down 8 cents at $81.34 a barrel, following a 0.7% drop in the previous session.

CPI Release Will Boost The CAD
CPI Release Will Boost The CAD

Canada's forthcoming Consumer Price Index (CPI) data, set for release on Tuesday, is projected to show a year-on-year decline in inflation to 3.2% for October from the previous 3.8%. This potential inflation dip might offer leeway for the Bank of Canada (BoC) to maintain its overnight rate target at 5.0% in the...

What To Expect from Gold In the upcoming week
What To Expect from Gold In the upcoming week

Gold prices (XAU/USD) surged more than 1.0% on Thursday of this week, rebounding from a lackluster performance in the previous trading session. This upward momentum was driven by a notable retreat in U.S. Treasury yields, spurred by disappointing labor market data released...

Can JPY Reach New Lows By the End of 2023? 
Can JPY Reach New Lows By the End of 2023? 

Speculation persists regarding the Bank of Japan's potential departure from negative interest rates, yet the USD/JPY maintains its position within a 150–152 range for seven consecutive sessions. Caution is warranted due to a weaker-than-expected Q3 GDP, a slump in imports, and...

What To Expect From GBP Today
What To Expect From GBP Today

The Pound exhibited a mixed performance due to limited fresh UK data, leaving it susceptible to external influences. Bank of England (BoE) policymakers, including Governor Andrew Bailey and Chief Economist Huw Pill, adopted a more hawkish stance, suggesting a...

What To Trade in November
What To Trade in November

The end of the year is almost here, and with it often comes the rush to wrap things up in a tidy fashion as order books get closed and ledgers balanced. This knowledge is usually a call to caution for retail traders as they may sometimes get caught in the sharp movements that often occur.

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