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USD & Cross Asset Reaction to US CPI, AUD Headwinds Ahead of Jobs Report

US CPI, AUD Analysis and News: Large Deviation From Consensus Needed in CPI to Awaken FX. Australian Jobs Data in Focus, Depressed Iron Prices Weigh on AUD Sentiment. The main event of today will be the latest US CPI report, where expectations are for the headline to rise 0.4ppts to 5.8%, while the core figure is seen up 0.3ppts to 4.3%. In turn, this would mark a sixth consecutive month of inflation above 5% with the core reading at 4% or more for the fifth month in a ro

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British Pound (GBP) Price Outlook: GBP/USD Shrugs Off Row Over MPs' Second Jobs

GBP PRICE, NEWS AND ANALYSIS: GBP/USD continues to trade broadly sideways despite an ongoing row over whether former Conservative Attorney General Sir Geoffrey Cox broke any rules while earning more than £800,000 representing the British Virgin Islands Government in a corruption case. Even though this has come in the wake of the resignation of Conservative MP Owen Paterson after he was found to have breached lobbying rules over his £110,000 per year private-sector work, GBP/USD has

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Technical vs Fundamental Analysis in Forex

UNDERSTANDING THE DIFFERENCES BETWEEN FUNDAMENTAL AND TECHNICAL ANALYSIS IN FOREX TRADING There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? In this article we will explore what the difference is between these two types of traders and which pieces of information forex traders in particular tend to look at. Technical vs fundamental analysis comparison   TECHNICAL ANALYSIS

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Gold Price & Silver Technical Analysis: Nearing Big Levels

GOLD/SILVER TECHNICAL OUTLOOK: Gold heading into confluent resistance, intermediate and long-term. Silver heading towards neckline of inverse head-and-shoulders pattern.   Gold price has been a ranging mess the past few months and how major confluent resistance gets treated here very soon could determine whether that continues to be the case or not. There is a trend-line running down from the August 2020 high that makes up the top of a large wedge pattern. This is in

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US Dollar Hit as Treasury Yields Fall. Fed Warns of Risky Asset Price, Will USD Rally?

US DOLLAR, TREASURY YIELDS, USD, FEDERAL RESERVE, S&P 500 - TALKING POINTS: The US Dollar slipped with yields as Fed leadership change bets slightly rise. APAC equities and currencies were mixed with Japanese Yen outperforming. The Fed warned on the prices of risky assets, will USD resume its uptrend?   The US Dollar lost ground today on news that Federal Reserve Governor, Lael Brainard, was interviewed for the top job at the central bank. She is seen as mo

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US Dollar Technical Outlook: Capped by Resistance, for Now

USD TECHNICAL OUTLOOK: DXY hit resistance via the March 2020 low. Friday’s reversal day suggests a little weakness from here. Lines and levels to watch in the days ahead. US DOLLAR TECHNICAL OUTLOOK: CAPPED BY RESISTANCE, FOR NOW The US Dollar Index (DXY) ran into the pivotal March 2020 low, the trough created during the early days of the pandemic. It was a panicky low that made it an important

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British Pound (GBP) Outlook Strained as Article 16 Fears Flare Up

EUR/GBP PRICE, CHART, AND ANALYSIS EU/UK relations continue to sour. Sterling supported for now but article 16 fears remain. Retail traders shun EUR/GBP.   Keep up to date with all market-moving data releases and events by using the DailyFX Calendar According to a raft of media outlets, the EU may suspend the Brexit trade deal if the UK triggers article 16, as has been suggested, as the relationship between the two sides continues to deteriorate. Article 1

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Tesla Drops as Elon Musk Proposes to Sell 10% Tesla Stake After Twitter Poll

Tesla (TSLA) Analysis & News: Elon Musk Proposes to Sell 10% Stake in Tesla in Twitter Poll. Poll Result in Favour of “Yes” Tesla Gaps Lower by 7.5%, But Don’t Rule Out Quick Recovery. Over the weekend, Elon Musk took to Twitter to tweet a poll, saying that “much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock”. He added that he would abide by the results of the poll. As such, the final results of the

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Introduction to Multi-Time Frame Analysis

AN INTRODUCTION TO MULTI-TIME FRAME ANALYSIS Multi-time frame analysis (also known as multiple time frame analysis) allows traders to focus on the appropriate timing of trades as well as help identify when trends may be reaching exhaustion. This article will explain how to utilize this methodology with the forex pair EUR/AUD. BENEFITS OF MULTI-TIMEFRAME ANALYSIS As explored in previous articles on trendlines and pitchforks / median-lines are used to locate key reaction zones in pr

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US Dollar Soars on Higher Yields and Bank of England No-Go. Where to for USD?

US Dollar, Bank of England, Treasuries, OPEC+, Crude Oil, Japan - Talking Points: USD moved up as bond markets reeled from Bank of England inaction. OPEC+ stuck to plan and disregarded political pressure to up production. Asian markets digested overnight moves. Will USD uptrend continue?   The US Dollar rallied in the aftermath of the Bank of England keeping rates on hold. The market had priced in a 15-basis point hike. That makes 3 from 3 central banks keeping

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Crude Oil Price Outlook: WTI Eyes NFPs After OPEC+ Output Decision as Trend Breaks

CRUDE OIL, WTI, OPEC+, NFPS, TECHNICAL ANALYSIS - TALKING POINTS: Crude oil prices aimed lower despite OPEC+ output hike hold. Markets bet US may release more strategic petroleum reserves. WTI eyeing NFPS as positioning data offers a bearish outlook.   Crude oil prices aimed lower over the past 24 hours. This is despite OPEC and its allies, known as OPEC+, deciding to maintain oil output increases at 400k barrels per day for December. This came as a disappointm

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Dividend Adjustments 8th November 2021 - 15th November 2021

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8th November 2021. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted o

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GBP Price Outlook: GBP/USD Downside Beckons Despite Likely UK Rate Hike

GBP PRICE, NEWS AND ANALYSIS: The Bank of England’s monetary policy committee is almost certain to raise UK Bank Rate to 0.25% today from the current 0.10%. However, that 15bps increase has been fully priced in by the markets already and GBP/USD is therefore more likely to weaken than strengthen in response.   RISK TO THE DOWNSIDE FOR GBP/USD GBP/USD is looking fragile around current levels, with a 15 basis point rate increase to 0.25% by the Bank of England’s mo

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Gold Prices Eye NFP Report After FOMC Steepens Yield Curve, Drags USD

GOLD, XAU/USD, FED, YIELD CURVE, NFP JOBS REPORT – TALKING POINTS: Gold prices reacted to the upside following the Fed’s taper announcement. Bullion traders eye Friday’s non-farm payrolls report for next directional move. XAU/USD faces confluent resistance from key moving averages.   Gold prices moved higher following the Federal Reserve’s interest rate decision Wednesday. The Fed opted to begin tapering asset purchases, a move analysts have speculated over for

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Crude Oil Tanks Ahead of OPEC+ and Against Upbeat Tone Post FOMC. Can WTI Get a Grip?

CRUDE OIL, OEPC+, FED, FOMC, BANK OF ENGLAND - TALKING POINTS: Crude oil prices slid as the WTI contract traded under US$80 a barrel. Post-FOMC environment is positive after all main US indices hit highs. All eyes on the BoE and OPEC+ meetings. Has crude seen the top for now?   Crude oil slipped on a larger than expected increase in inventory, data released in the US revealed. Figures from the Energy Information Administration / Department of Energy petroleum s

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