AUD/USD bears trying hard to keep reins below 0.7000, US/China inflation eyed

AUD/USD bears trying hard to keep reins below 0.7000, US/China inflation eyed

AUD/USD remains depressed around the intraday low near 0.6955 as sellers keep reins for the second consecutive day ahead of the key US inflation data. Firmer China CPI may offer intermediate help but US inflation is crucial amid strong jobs report, hawkish Fedspeak.

AUD/USD News

EUR/USD struggles to defend 1.0200 as sour sentiment teases DXY bulls ahead of US inflation

EUR/USD struggles to defend 1.0200 as sour sentiment teases DXY bulls ahead of US inflation

EUR/USD fades the corrective pullback from 1.0202 around 1.0215 as traders turn cautious ahead of the key US CPI during the initial hour of Wednesday’s Asian session. Also exerting downside pressure on the major currency pair are the economic fears surrounding the Eurozone.

EUR/USD News

Gold aims to recapture $1,800 as investors trim US Inflation forecasts

Gold aims to recapture $1,800 as investors trim US Inflation forecasts

Gold price is displaying a volatility contraction after printing a fresh monthly high at around $1,800.00 on Tuesday. The precious metal witnessed a decent north-side move on Tuesday and later on turned sideways ahead of US CPI.

Gold News

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

HBAR price shows a drop in volume amidst the current downtrend. Hedera Hashgraph has the potential to rally towards 2000%. Traders should keep the smart contract alternative token on their watchlists and consider a dollar cost average approach for investing. 

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US CPI: When core outpaces headline

US CPI: When core outpaces headline

As the markets have become more focussed on the fundamentals, every week is an important week, even in mid-August! This week traders need to contend with UK GDP data, US CPI, the tail end of earnings season and some important actions from the ECB.

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DEEPER DIVE

Microsoft: Price target at $230 with near-term risks due to strong US dollar

Microsoft: Price target at $230 with near-term risks due to strong US dollar

As with most stocks, the Wall Street analyst community remains staunchly optimistic with an average price target of $354.25.

Facebook parent price target at $200 despite macro headwinds

Facebook parent price target at $200 despite macro headwinds

We continue our deep dive series with a focus on Facebook parent Meta Platforms. We will focus as ever on traditional DCF cash flow analysis as well as a relative valuation model to forecast a 12-month price target.

Central Bankers' Panel puts Powell, dollar on top, Lagarde, euro lagging, Bailey, pound behind Premium

Central Bankers' Panel puts Powell, dollar on top, Lagarde, euro lagging, Bailey, pound behind

Football fans will have to wait until the winter to see the World Cup – but forex traders have their dream team playing in a panel already now.

FXS Signals

Technical Confluences Detector

Dhwani Mehta

Gold price is licking its wound below the $1,800 mark, awaiting a fresh catalyst for the next leg lower. Risk-on flows have returned at the start of the week, fuelling a broad-based US dollar retreat while the Treasury yields also ease. Investors assess the implications of a super-sized Fed rate next months, the odds for which now stand at 70% after a big upside surprise in the US Nonfarm Payrolls for July.

Gold Price: Key levels to watch

The Technical Confluence Detector shows that the gold price needs to slice through a bunch of healthy support levels around the $1,772-$1,771 area to resume the post-NFP sell-off.

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CRYPTOCURRENCIES

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

HBAR price shows a drop in volume amidst the current downtrend. Hedera Hashgraph has the potential to rally towards 2000%. Traders should keep the smart contract alternative token on their watchlists and consider a dollar cost average approach for investing. 

More Cryptocurrencies news

Solana Price Prediction: How many hacked wallets does it take to spark a bull run?

Solana Price Prediction: How many hacked wallets does it take to spark a bull run?

Solana price continues to show mixed signals during the 2nd trading week of August. While several cryptocurrencies have displayed bullish vengeance, the centralized smart contract token has failed to reconquer losses experienced since May 12.

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Is a 75% decline still possible for the Ethereum Classic price?

Is a 75% decline still possible for the Ethereum Classic price?

Ethereum Classic price rallied 100% between July 12 and July 24 before a short consolidation unfolded. After a few shallow days of sideways congestion, the Ethereum Classic price kicked off another 90% rally. Invalidation of the uptrend is dependent on $13 holding as support.

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Ethereum Price Prediction: Get ready for a Wall Street discount

Ethereum Price Prediction: Get ready for a Wall Street discount

Ethereum price breaches target one at $1800, which was mentioned in July’s market bottom thesis. ETH price shows an influx of deposits on all exchanges. The midterm bullish forecasts are dependent on $1250 holding as support.

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THE STOCK OF THE DAY

RBLX loses ground ahead of Q2 with perceived weakness in videogame industry

RBLX loses ground ahead of Q2 with perceived weakness in videogame industry

Though the Roblox (RBLX) stock price has doubled since June 16, shares appear intimidated in the lead-up to the videogame platform's second-quarter earnings in Tuesday's post-market. RBLX stock lost some ground on Monday and is down 1.9% on Tuesday's premarket at $48.

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WEEKLY FORECAST

EUR/USD: Get ready for fresh record inflation and more aggressive tightening Premium

EUR/USD: Get ready for fresh record inflation and more aggressive tightening

Solid US job creation in July temporarily spooked the recession ghost. European data signals a contraction spiral just beginning in the Union. EUR is bearish in the long run, 1.0105 stands in the way to parity.

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GBP/USD: Down but not out? Focus shifts to US inflation, UK GDP Premium

GBP/USD: Down but not out? Focus shifts to US inflation, UK GDP

GBP snapped two straight weekly gains after dovish BOE. UK GDP could confirm a potential recession, US inflation is also crucial. Acceptance above 1.2200 is critical for GBP bulls to sustain recovery.

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Gold: Recovery could end if US CPI data confirms 75 bps Fed hike Premium

Gold: Recovery could end if US CPI data confirms 75 bps Fed hike

Gold closed the third straight week in positive territory. $1,780 aligns as key technical level for XAU/USD. July inflation data from the US could trigger a strong reaction next week.

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Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection,  its technicals support a bearish outlook for the leading crypto.  

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Week Ahead on Wall Street: Bear market rally or time to buy?

Week Ahead on Wall Street: Bear market rally or time to buy?

The confusion in the investors' minds continues to feed through to the marketplace as the early week rally peters out and Friday sees a turnaround. With the rally reaching around 7% for the S&P 500 (SPY) that is no surprise.

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The Week Ahead: US CPI, UK Q2 GDP, Deliveroo, Aviva and Disney

The Week Ahead: US CPI, UK Q2 GDP, Deliveroo, Aviva and Disney

With US CPI reaching another 40 year high of 9.1% in June, there was some concern that the Federal Reserve might have been tempted to go for a bigger than expected 100bps rate move in July. 

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