OPEC production data from the U.S. Energy Information Administration (EIA) only includes crude oil production data.
- Economic Calendar
- Events
- Holiday
Kevin Du
Recycling metals can cut carbon emissions, reduce mining. Global green transition expected to boost metals demand. Product complexity is major barrier to metal recycling.
Foreign allies and investors will fail to see the funny side to this latest misstep.
Devin
Cohen
Owen Li
Despite the nationwide protests, the French president might still be able to win over a majority of the public.
Thomas
The financial markets remained calm last week, with no significant news or events causing waves. BTC's price remained at high levels, while altcoins suffered a decline. The Federal Reserve's FOMC statement showed that the bank liquidity crisis was not considered severe enough to halt the central bank's interest rate hikes. It is essential to monitor the possible bounce area on the daily chart at the 24800 level and maintain the support and resistance levels at 25000 and 32000, respectively. Traders should also keep an eye on altcoins, as their decline presents an opportunity for a potential entry at lower prices.
Central banks have pegged inflation at less than 2%, causing chaos in economic and financial markets. The balance between inflation, growth, and financial pressure will shape the gold market.
EURCHF downtrend looks set to continue, and traders should look for selling opportunities around the 0.9900 zone. The ongoing uncertainty in the market could further support safe-haven currencies like CHF, which could drive EURCHF lower in the coming weeks.
The GBPUSD fell slightly during the European session on Tuesday after trying to break the key threshold of 1.2343 but stalled ahead of the test target; Overall, the firm bullish stance remains. The comments by Bank of England (BOE) Governor Bailey sparked expectations of further interest rate hikes, which supported the GBP.
Central banks have pegged inflation at less than 2%, causing chaos in economic and financial markets. The balance between inflation, growth, and financial pressure will shape the gold market.
Until the recession theme is falsified by economic data, the basis for gold price gains remains.
Gold prices got a boost after last week's Fed rate decision and briefly broke above $2,000 twice on Thursday. However, resistance to the further upside appears strong enough to limit the bulls to staying below the weekly chart (entity) of $1986 (week of March 7, 2022). Given the recent market turmoil and the shift in the Fed's stance, we believe that gold prices will remain below that level regardless of this week's volatility, meaning any price move higher is an opportunity to go short.
Risk appetite in the market improved. Gold and silver prices, which rose sharply due to risk aversion in the previous period, have pulled back and are expected to continue to adjust in the short term.
WTI oil prices are currently below the US storage launch price announced previously, and declines may be limited.
The crisis has been eased and the oil price has rallied. But it is difficult to change the weakness in the short term, so the strategy is to go short in the short term and go long in the long term.
OPEC+ officials, hedge fund managers, and investors believe the recent drop in oil prices is speculative; they said the increase in demand would push oil prices to higher levels in the coming months. Fears of a banking crisis in Europe and the U.S. have receded and the downward pressure on oil prices has eased after a two-day rebound.
Pay close attention to the release of US strategic oil inventories and replenishment plans which are the key factors in the recent oil price movement.
The DXY's falling trend has implications for the stock market, which may go up if the trend continues. However, the upcoming CPI data will be a crucial determinant for the DXY's trend. Technical analysis suggests a possible retrace of the trend around 104.7 supply and demand zone. The short-term trend may be volatile until the release of the CPI data.
After the Federal Reserve chairman gave testimony in the Senate, the U.S Dollar Index (USDX) tested close to its highest level since early December of 106.00. For now, volatility should remain high and the risk balance in the market is expected to continue to tilt upwards. The focus of today's market will be on testimony 2.0 (the chairman of the Fed testifies in the House of Representatives). Meanwhile, the U.S. ADP employment change in February will be seen as a new driver.
The foreign exchange market started the week on a steady note, buoyed by a strong rally in equities last week and a market that seemed to shrug off a slightly lower-than-expected Chinese growth target.
USD may continue to be strong in the near term, but its strength will fade in the medium- to long- term according to the economic fundamentals.
EUR/USD has not shown any strong movement, try to buy low and sell high in the channel.
The EURUSD was under bearish pressure again, falling below the 1.0750 level on Friday. Despite upbeat PMI data from Germany and the Eurozone, risk-averse flows dominated the market amid sharp declines in European banking stocks.
The European Central Bank raised its three main policy rates by 50 basis points but gave no guidance on the future policy path in line with market expectations. The ECB highlighted the prevailing risks to the economic and inflation outlook, but further rate hikes may be needed if the current crisis is effectively mitigated.
EURUSD currency pair is currently attracting the attention of traders and investors due to both fundamental and technical factors. The market is anticipating a weaker US dollar, bullish indices, and bullish cryptocurrencies, which is expected to push the euro higher. Traders are closely watching the 1.071 support and resistance zone for a potential buying opportunity, with the next target set at 1.10. As always, it's essential to keep an eye on market developments and adjust trading strategies accordingly
The USDJPY currency pair has been forming a head and shoulder pattern on the weekly and daily timeframes, which suggests a potential downward movement in the market. Additionally, the 1D demand zone was breached and pushed the price up to the height of the right shoulder. This article will examine the technical and fundamental factors that are driving the market and provide a forecast for the USDJPY currency pair.
The USDJPY began a correction earlier this week as yields on U.S. Treasury Securities fell. Nonetheless, the USDJPY rebounded after hitting a monthly low of 132.34, with bear covering showing up just before the release of the U.S. consumer price index.
US dollar loses more against other major economies as SVB impact dampens expectations of US interest rate hikes. Over the past three trading sessions, we have witnessed a rapid collapse of the USD/JPY rally.
In conclusion, the banking crisis in the U.S. has resulted in a liquidity shift towards the safe haven currency of the Yen, which has strengthened more than other currencies. Traders should watch for potential bullish signals around the support level of 132.00 before considering short positions. As the crisis intensifies further, traders may consider buying the JPY against currencies that are affected by the crisis. However, traders should also be cautious and watch for potential bearish signals in the Yen.
GBPUSD was trading at a disadvantage on Friday after hitting a new high since early February last Thursday but failing to sustain the gains made after the Bank of England meeting.
The GBPUSD fell slightly during the European session on Tuesday after trying to break the key threshold of 1.2343 but stalled ahead of the test target; Overall, the firm bullish stance remains. The comments by Bank of England (BOE) Governor Bailey sparked expectations of further interest rate hikes, which supported the GBP.
The rising wedge pattern on GBPUSD indicates a potential trend reversal, and the break of the wedge to the downside supports the bearish outlook. The short-term target for this pair is at 1.2000, and traders should monitor the price action carefully for potential opportunities to enter a short position.
The Bank of England will announce its monetary policy decision on March 23. Market participants focus on the size of any potential rate hikes and any signals of possible future rate hikes. Our base assumption is that the Bank of England will raise its policy rate by 25bps to 4.25%.
The AUDUSD pair has been in a downtrend, with the recent successful break below the wedge pattern indicating a potential for further downward movement.
Although the Australian Bureau of Statistics published optimistic monthly retail sales data, the AUD failed to find more buying. The monthly economic data released by the Australian Bureau of Statistics is 1.9%, which is higher than the market expectation of 1.5%. In December, retail sales contracted by 3.9%.
While the RBA's interest rate decision has caused the AUD to drop, it does not necessarily mean that interest rate hikes in Australia are over. The market is currently in a downward trend, and traders should carefully monitor economic data and market trends
The breakout confirmation on the H4 timeframe indicates a potential for bullish movement in AUD/USD. Traders can look for daily entry opportunities during the Tokyo session or wait for a major rejection signal before entering a position. The key resistance zone at 0.7 on the M30 timeframe provides a clear target for this potential bullish movement, with the next resistance zone at 0.6850. However, traders should exercise caution and carefully consider their risk management strategy
FTM-USDT Trend Tracking Strategy
+464.51%
Annualized Return
81.38%
Max Drawdown
Low Risk
AVAX-USDT Trend Tracking Strategy
+195.21%
Annualized Return
77.02%
Max Drawdown
Low Risk
ADA-USDT Trend Tracking Strategy
+79.40%
Annualized Return
58.94%
Max Drawdown
Low Risk
BTC-USDT Trend Tracking Strategy
+32.33%
Annualized Return
45.42%
Max Drawdown
Medium Risk
COMEX GOLD model based on similarity metrics
+22.46%
Annualized Return
25.36%
Max Drawdown
Medium Risk
USDCHF Strategy (ARIMA timing analysis)
+19.32%
Annualized Return
16.26%
Max Drawdown
Medium Risk
Calculates the probabilities of certain assets prices going up/down driven by key economic data releases
No data
No data
Central Bank Data
Gold - Fundamental Drivers
Crude Oil - Fundamental Drivers
OPEC production data from the U.S. Energy Information Administration (EIA) only includes crude oil production data.