Gold managed to recover its losses yesterday (biggest daily slump in almost 2 years) on weak US PMI data. The thought here is that sluggish growth indicators might push the Federal Reserve towards an earlier interest rate cut (although don't hold your breath), potentially increasing the attractiveness of non-yielding assets like gold.
The rate of expansion in...
In addition to the eagerly awaited US data slated for release this week, investors will be keeping a close eye on the Bank of Japan's interest rate decision scheduled for Friday.
Market expectations lean towards the BOJ maintaining its current rate settings during Friday's announcement. However, analysts and investors will scrutinize the central bank's...
Australia's Inflation Data Revealed Soon
Next week, Australia will unveil its latest inflation figures.
Import the BlackBull Markets Economic Calendar to iCloud, Google, or Outlook to get alerts direct to your inbox, enabling you to plan your positions in advance and seize trading opportunities.
Projections suggest a notable dip in Australia's headline...
Gold hovers around the $2,370, with trading range relatively narrow as investors closely monitor updates on the Iran-Israel conflict.
Israel's stance on retaliating against Iran revolves not around whether but when and how to strike back. Bezalel Smotrich, Israel's Finance Minister, advocates for a response that would impose a "disproportionate toll" on Iran,...
Is BOJ's Intervention Hiding Behind Inflation Data?
Japanese inflation data is scheduled for release on Thursday, but its impact on the market might be subdued. Investors could prefer to pay attention to next week's quarterly growth and price forecasts from the Bank of Japan, which could be the real market movers.
According to sources cited by Reuters, the...
Financial markets are bracing for the uncertainty surrounding Iran's recent strike on Israel and the potential for retaliatory measures.
Mohamed A. El-Erian, Chief Economic Adviser at Allianz, remarked that the current situation may lead to elevated gold and oil prices, alongside lower US Treasury yields and stocks compared to what would have been expected...
As we step into the second week of the Q1 earnings season, a roster of major financial players is gearing up to unveil their financial reports.
Expect updates from Goldman Sachs, Bank of America, Morgan Stanley, American Express, Blackstone, and Charles Schwab.
Additionally, non-financial companies like UnitedHealth, Taiwan Semiconductor Manufacturing,...
The EUR/USD plunged after the hotter-than-expected CPI, as traders reevaluated the odds of a Fed rate cut in June.
EUR/USD has now perhaps broken out of the range of its significant Simple Moving Averages.
Now we might get another pushdown in the lead up to or after the ECB interest rate decision tomorrow. The April 2 swing low of 1.07245 may prove pivotal....
The end of the week brings a host of significant data releases, including the US Consumer Price Index (CPI), the FOMC minutes from the March meeting, and interest rate decisions from both the Bank of Canada and the European Central Bank (ECB).
Import the BlackBull Markets Economic Calendar to iCloud, Google, or Outlook to get alerts direct to your inbox (link...
NZD/USD: Odds for NZ rate cut?
This week the Reserve Bank of New Zealand (RBNZ) is expected to maintain interest rates unchanged at 5.5% Interestingly, as recently as February this year, the RBNZ was still deliberating rate hikes.
Presently, the market attributes a 4% probability to a rate cut. The earliest feasible moment for a rate cut could be in November....
Must-know events for the trading week
The week ahead in the US will be marked by significant events, including the release of the FOMC meeting minutes and March inflation data.
Alongside the meeting minutes, investors will continue to analyze speeches from various Fed officials: Recent remarks from Minneapolis Federal Reserve Bank President Neel Kashkari...
ETHBTC trading: BTC halving vs ETH ETF
Amidst the buzz surrounding Bitcoin's halving, Ethereum finds itself at a crucial crossroads, as the Securities and Exchange Commission (SEC) initiates a 21-day comment period for Ethereum ETF applications.
A veil of uncertainty remains over the immediate fate of Ethereum ETFs with the potential rejection or approval of...
NFP preview: Trading S&P or GBPUSD?
US Fed Chairman Jerome Powell has reiterated on multiple occasions that a tight labor market acts as a deterrent to lowering interest rates. Which is why this month's NFP data release should be interesting.
This Friday's Non-Farm Payrolls (NFP) data is expected to show an addition of 200,000 new jobs. Since Feb 2023, data...
Oil prices reached their highest level in seven months, partly driven by worries that escalating tensions in the Middle East could constrain supply.
Iran has warned of a potential "serious response" against Israel following a targeted strike in Damascus that resulted in the deaths of two Iranian generals. This incident has raised concerns about a widening...
Gold to close above $2200 this week or next?
Examining the daily gold chart, it appears there's a potential bullish flagpole pattern forming, indicating a possible forthcoming breakout. If this pattern unfolds, gold prices could rise. This week, gold attempted to breach $2,200 but faced rejection, dropping to $2,080 before rebounding above $2,190.
However,...
Recent remarks made by Masato Kanda, Japan's vice-finance minister for international affairs, have led to heightened cautiousness regarding potential actions by authorities to support the yen through intervention.
The USD/JPY has comfortably surpassed the 150.000 threshold, which historically has prompting interventions by the Bank of Japan to limit the weakness...
Cocoa:
Cocoa futures hit $9,400 a ton for the first time ever, marking a 45% increase in March.
Poor harvests in key producing countries such as Ivory Coast and Ghana, where adverse weather conditions, including heavy rains from El Niño and subsequent extreme heat, have led to supply shortages. The Ivory Coast cocoa regulator anticipates a 33% decrease in...
In the United States, traders are awaiting insights from Federal Reserve policymakers, particularly Chief Jerome Powell, scheduled to speak on Friday. Fed members Bostic and Cook will also appear on Monday.
Economic data in Europe will be limited this week due to the Easter break, with major bourses closed for Good Friday and Easter Monday. Perhaps the only...
