Trade

USD/JPY holds steady amid intervention threat. Oil rises as geopolitical tensions rise.

EUR/USD falls after the ECB meeting & ahead of US inflation data. Oil hovers around a 2-month high.

DAX looks to the ECB rate decision. USD/JPY rises ahead of US Q4 GDP data.

We're on the lookout for any hawkish undertone in today's RBA minutes - given the RBA's statement was deemed to be less hawkish than expected. Failure to do so could see AUD/USD hand back some of it's gains. The Nasdaq is also following its seasonaly tendency to rise into Thanksgiving.

With a bullish engulfing week and day for AUD/USD on Friday, can the Aussie muster up the strength for a breakout above key resistance? And if losses on USD/CNH are anything to go by, perhaps USD/JPY is preparing to follow suit.

EUR/USD falls ahead of ECB President Lagarde's speech & US jobless claims. Oil falls for a third straight day after inventories rise.

WTI crude oil rose for a second day after the monthly OPEC report played down demand concerns and blamed speculators for oil's recent decline. A move to $80 at a minimum or $83 could now be on the cards. We also have a near-term bullish bias on the ASX 200.

The S&P 500 continues to defy gravity and appears on the cup of breaking above a key resistance level. And whilst AUD/USD fell for five days last week, it is fast approaching a key support level that has been favourable to dip buyers in recent times.

With an overwhelming majority now backing a 25bp RBA hike today, the RBA may need to deliver a hawkish hike for AUD/USD to stand any chance of a sustainable break above resistance and send the ASX 200 materially lower.

AUD/USD finally saw the break above 64c that we have been anticipating, on renewed bets of an RBA hike alongside a weaker nonfarm payrolls report.

AUD/USD produced a clear and decisive break and, unless we see an abnormally strong nonfarm payroll later today, I suspect the Aussie could be headed for 65c. WTI crude oil is also trying to turn higher just above $80 which places a potential bounce on the cards.

AUD/USD has continued to defy bears with a sustainable break below 63c. And with momentum now turning higher and a bullish engulfing candle closing on a key resistance level, I'm on high alert for a bullish breakout. The ASX 200 also shows some appetite for further gains, as long as it can also break a key resistance level nearby.

The importance of today’s Australian inflation report has only increased following last week’s relatively hawkish RBA minutes and comments from the Governor on Tuesday. And that leaves AUD/USD vulnerable to a rally from relatively low prices should CPI come in hot. We've also seen the required pullback to support to for gold, to reconsider a cheeky long.

DAX eases after Chinese data and on inflation jitters. Oil rises after US ramps up sanctions on Russia.

The rapid decline of oil prices last week has seen calls for $100 WTI come into question. But with prices showing signs of stability above $80 on Friday and Iran declaring war on Palestine, oil prices will be closely watched due to concerns of a supply disruption potentially on the horizon.

US stocks are edging higher ahead of the Federal Reserve interest rate decision. The Fed is expected to leave rates unchanged at 5.25%-5.5%. However, the key focus will be on what comes next. The market is pricing in a 70% probability that the Fed will keep rates unchanged again in November. Yet with inflation still over 2%, resilience in the US economy and oil heading towards $100 the Fed is likely to keep the door open for further hikes if needed.

EUR/USD rises after 9 weeks of losses, its longest losing steak since inception. Oil rises towards $93 a barrel, lifted by supply concerns.