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British Pound (GBP) Price Outlook: GBP/USD Approaching Key Support Levels

GBP PRICE, NEWS AND ANALYSIS: GBP/USD continues to look weak as a strong US Dollar outperforms most other currencies. However, trendline support and the 1.33 level could at least delay further losses.   GBP/USD TO TEST SUPPORT GBP/USD has hit its lowest level since just before Christmas last year and there are few signs yet that its slide against a rampant US Dollar is over. However, there is a chance now that its decline could be halted, perhaps only briefly, by
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Crude Oil Heats Up Ahead of OPEC+ And Post FOMC Minutes. Will WTI Break Higher?

CRUDE OIL, OPEC+, US DOLLAR, FOMC, USD/JPY, EUR/USD - TALKING POINTS: WTI crude prices settle in as competing interests voice their views. US Dollar strengthens in the aftermath of data and FOMC minutes. Price action could get skittish with holiday liquidity. Can oil reignite? Crude oil steadied overnight after jawboning from both producers and consumers hit the wires. An advisory panel to OPEC+ (The Economic Commission Board) said that extra supply from va
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British Pound (GBP) Price Outlook: GBP/USD Brushes Off Government Setback

GBP PRICE, NEWS AND ANALYSIS: GBP/USD looks to be stabilizing after its losses over the past few sessions caused principally by US Dollar strength. So far, the pair has largely ignored setbacks for UK Prime Minister Boris Johnson but there’s a risk that it could suffer further if the pressures on him continue to grow.   GBP STEADIES BUT FURTHER LOSSES POSSIBLE GBP/USD looks to be stabilizing after the slide that has taken it from a recent high at 1.3518 recor
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Copper Trading: Copper Trading Tips and Strategies

COPPER TRADING: COPPER TRADING TIPS AND STRATEGIES Copper is a highly tradeable commodity. Copper is priced in US Dollars; so the price of the dollar affects the price of copper. Copper is gaining more traction as an investment option along with various other alternatives. As looked at in our primer for copper, copper prices tend to do well when emerging markets are growing as demand derives from building and construction. Trading strategies for copper can inclu
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Crude Oil Prices Up on Limp Reserves Release, PCE and FOMC Minutes Eyed

CRUDE OIL OUTLOOK: Crude oil price up as world powers underwhelm with reserves release plan. US PCE inflation, FOMC meeting minutes eyed for Fed policy outlook cues. Rebound fails to overcome past resistance, keeping focus on the downside.   Crude oil prices mounted a spirited recovery, with the WTI benchmark clocking in the largest one-day rise in two weeks. This was after the announcement of a plan by the US, China, Japan, India, the UK and South Korea to
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Turkish Lira Continues Blowout Nearing 20% Daily Decline, ZAR Caught in its Wake

EMERGING MARKET CURRENCY ANALYSIS: The Turkish Lira drops nearly 20% on the day, tainting EM currencies across the board. USD/ZAR trades higher despite attempt to halt the EM slide. IT’S NOT A CRYPTOCURRENCY, IT’S THE TURKISH LIRA On Tuesday, FX markets ran rampant as the Turkish Lira depreciated against the dollar nearly 20% in a single day. To put the move into context even a 2% move in the FX market is considered quite large and, well, this is nearly ten times that
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Gold Price Outlook – Sellers Remain in Control as US Treasury Yields Jump

GOLD PRICE (XAU/USD), CHART, AND ANALYSIS: UST 2-year yields are back at highs last seen in March 2020. Gold breaks below $1,800/oz. Wednesday’s US PCE release the next driver for the precious metal.   The re-election of Jerome Powell for another four years at the helm of the Fed, while expected, added a dose of volatility across a range of asset classes yesterday with gold one of the big losers on the day. US Treasury yields ticked higher as markets continued t
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British Pound (GBP) Price Outlook: GBP/USD May Fall Further as USD Strength Persists

GBP PRICE, NEWS AND ANALYSIS: GBP/USD has been falling steeply since Friday, largely due to USD strength. That weakness could well persist as the pair nears critical support levels. The UK flash purchasing managers’ indexes (PMIs) for November, released this session, came in above economists’ expectations but had no impact on GBP. GBP STILL UNDER DOWNWARD PRESSURE GBP/USD will likely extend the falls that began last Friday as the US Dollar continues to benefit
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Black Friday & the Stock Market: Economy, Consumers & Shares

First it was known for the Black Friday stock market crash – then for being the biggest shopping day of the year. The meaning may have evolved, but today, Black Friday is still a subject for stock market scrutiny. Which retailers look set to benefit? What can we learn from the price action of past years? And what factors help you trade the period? We’ll find out. But first, a history lesson. WHAT IS BLACK FRIDAY? Black Friday was originally the term used to describe the stock mark
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US Dollar Leaps on Fed Re-Nomination Pumping Up Treasury Yields. Will USD Keep Going?

US DOLLAR, FED, POWELL, TREASURY YIELDS, CRUDE OIL, OPEC+ - TALKING POINTS: The US Dollar rode higher as US yields rose across the curve. Crude oil prices recovered after OPEC+ threw a curve ball. With Thanksgiving almost here, where will USD go on holiday?   The US Dollar continued to run higher in Asia today after the US President, Joe Biden, nominated Jerome Powell to be Chair of the Federal Reserve Bank for another term. This appears likely to ge
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Lockdown fears hit IAG shares

IAG has given up much of its post-lockdown share price gain, and with the prospect of tighter restrictions worrying investors the shares continue to struggle. Source: Bloomberg  Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 22 November 2021
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US Dollar Technical Outlook Remains Bullish

USD TECHNICAL OUTLOOK: DXY tested and held slope from June. Currently trading in open space with room to run. US DOLLAR TECHNICAL OUTLOOK REMAINS BULLISH Last week the US Dollar Index (DXY) broke through a line of resistance and within a couple of days tested that level to confirm it as support (old resistance becomes new support). The top-side slope running higher since June was a worthy level to watch with all the inflection points. The pow
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British Pound (GBP) Outlook – EUR/GBP Clinging on to Multi-Month Support

GBP/USD PRICE, CHART, AND ANALYSIS: Covid lockdowns a headwind for the Euro. Bank of England chief economist open to larger interest rate hikes. Hefty retail positional changes over the last week. Keep up to date with all market-moving data releases and events by using the DailyFX Calendar A surge in covid cases across Europe is providing a major headwind for the Euro as new lockdown measures spark fears of lower growth across the single bl
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S&P 500, Dow and Nasdaq Show Haywire ‘Risk’, Dollar Charged for Biden’s Fed Chair Decision

S&P 500, NASDAQ 100, DOW, DOLLAR AND NZDJPY TALKING POINTS: The S&P 500 has worked its way into a terminal wedge that will have to break as it runs out of room, but the Dow and Nasdaq 100’s divergent paths make resolution unclear. While the Thanksgiving holiday will create serious seasonal distortions in the market, monetary policy remains a driving theme with the Fed Chair pick a center point. Other key market concern ahead includes; the RBNZ rate decision expected t
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Powell versus Brainard: Next Fed Chair Pros and Cons

FED CHAIR NOMINATION TALKING POINTS: US President Joe Biden is expected to make his decision on who will be the next Fed Chair in the coming days. Current Fed Chair Jerome Powell’s term is set to end in February 2022 if he’s not reappointed to another four-year term. If Powell is not reappointed, current Fed Governor Lael Brainard is seen as the mostly likely alternative. NOMINATION SEASON Early last week, US President Joe Biden suggested that he would announce
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