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Iron ore may have bottomed as trading volumes surge. June 7, 2024 By : David Scutt, Market Analyst SGX iron ore surges over 3% during Thursday night session Restocking ahead of Dragon Boat festival, rumours of steel production cuts, fuel rally Downside momentum may be in the process of...

ASX 200 looks set to benefit from Wall Street’s record highs: Asian Open June 6, 2024 Soft employment data saw Wall Street march to a record high on bets of a soft NFP report, and that should filter through to gains for the ASX 200 today. By : Matt Simpson, Market Analyst It was a mixture...

AUD/USD, AUD/NZD: EM, commodities, soft data drag on AUD into GDP, ISM. June 5, 2024 Commodities continued to feel the pressure of growth concerns, which weighed broadly on the Australian dollar. AUD/NZD managed to close beneath its 200-day and 200-week average on the same day and looks like it...

AUD/USD rises despite risk-off tone, USD, yields slammed post ISM. June 4, 2024 The USD and yields were knocked swiftly lower on Monday as evidence of an economic slowdown in the US continued to build, helping AUD/USD to head for 76c despite the risk-off tone to the session. By : Matt Simpson...

AUD/USD weekly outlook: June 3rd 2024 Q1 GDP is the main domestic event for AUD/USD, although it is likely to be overshadowed by key ISM and NFP reports from the US regarding the Australia dollar's next directional move. By : Matt Simpson, Market Analyst Q1 figures for Australian GDP are...

ASX 200, Nikkei 225 futures diverge from Wall Street: Asian Open May 31, 2024 By : Matt Simpson, Market Analyst The US economy grew slower than originally estimated and prices remained elevated in the first quarter, according to a revised GDP report. Q1 growth was downwardly revised to 1.3%...

USD, Wall Street, gold: Risk seems to be falling apart at the seams. May 30, 2024 I suspect we're seeing the early moves of a pullback of appetite for risk in general, which saw traders push Wall Street indices and gold lower on Wednesday thanks to weak treasury demand. And it seems to be...

USD/JPY breaks its latest glass ceiling, crude oil surges ahead of OPEC+. May 29, 2024 USD/JPY closed above 157 for the first time since the MOF last intervened, which brings 158 into focus for bulls. Crude oil also rose over 3% on Tuesday from arguably oversold levels. By : Matt Simpson...

AUD/USD, ASX 200 drift higher ahead of AU retail sales: Asian Open May 28, 2024 Volatility levels were lower, as one would expect with the UK and US on a public holiday Monday. And that allowed AUD/USD to drift higher alongside the ASX 200 futures market, even if I do not fully trust the moves...

AUD/USD weekly outlook: May 26, 2024 A 2-week bearish reversal pattern below resistance suggests there could be some further downside potential for AUD/USD, although Friday's bullish engulfing day hints at a minor bounce first. By : Matt Simpson, Market Analyst We can probably expect a...

Gold hesitates at its ATH, USD drifting higher towards 105: Asian Open May 21, 2024 Gold may have printed a record high on Monday, but with a gold basket hovering below resistance and the USD drifting higher, perhaps gold’s rally may at least pause for breath - if not retrace lower By : Matt...

AUD/USD weekly outlook: 4-Month high for AUD, yet resistance looms. May 20, 2024 Whilst flash PMIs, FOMC and RBA minutes are on the menu this week, the success of AUD/USD is likely to come down to how the US dollar performs. By : Matt Simpson, Market Analyst Key themes and events for...

AUD/USD, ASX 200 eye a solid close for the week: Asian Open May 17, 2024 AUD/USD and the ASX 200 have flourished this week thanks to renewed bets of Fed cuts, even though softer employment and wages data for Australia rekindled hopes of a lower RBA cash rate. By : Matt Simpson, Market...

AUD/USD breaks out, USD/JPY rolls over amidst worst day of 2024 for USD. May 16, 2024 The US dollar suffered its worst day of the year and Fed fund futures now imply with near certainty that the Fed will cut by September. And that saw AUD/USD breakout in style and USD/JPY roll over, breaking...

USD falters ahead of US CPI, ASX set to track Wall Street higher? Asian Open May 15, 2024 The USD was weaker despite higher producer prices, as traders placed greater emphasis on last month's figures being revised lower. And that now sees a 51% chance of a September Fed cut, according to Fed...