News & Analysis

GBPUSD, Gold Forecast: The British pound is struggling against a strong U.S. dollar, holding onto key 2024 support levels, while gold is forming a triangle pattern, leaving markets on edge for a decisive breakout. Non-Farm Payrolls (NFP) on Friday add further volatility risks.

Bond yields and AUD/USD had a different take on today's inflation figures. And on this occasion, I believe forex traders are in the right. And if the Aussie can withstand the strength of the US dollar, it could bode well for bears seeking a cheeky EUR/AUD short.

The ASX 200 looks like it could be setting up for a dip lower, but whether it is a big or small dip is likely down to whether Wall Street holds above its December lows.

The latest batch of ISM reports have been released for December, and they’re not looking good for rate cuts. And that's keeping the USD supported and AUD/USD under pressure.

USD/JPY extends the advance from the start of the week to clear the December high (158.09).

Gold has registered growth of over 1% in recent hours, positioning itself above $2,650 per ounce.

A rebound off uptrend support keeps the focus on a breakout of the weekly range heading into NFPs on Friday. Battle lines drawn on the DXY short-term technical charts.

A confirmed bullish breakout in USD/JPY above the top of the range could target 160.00 in short order, whereas a bearish breakdown could open the door for a deeper retracement toward 154.00.

The U.S. Dollar just finished its strongest quarter in nine years, and stock prices remain elevated, as well. This sets the stage for a volatile 2025 as explained in this webinar.