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US Dollar Forecast: Yields, Inflation, Fed Taper Debate Are Key
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Stock Market Forecast: Nasdaq Slides on Strong US PMI Survey
2021-05-21 16:30:00
Rich Dvorak,
Analyst
STOCK MARKET FORECAST: NASDAQ COMPOSITE MIRRORING TREASURY YIELDS, INFLATION FEARS
Nasdaq price action pressured during Friday morning trade as Treasury bond yields jump
Flash US PMI data just released by IHS Markit shows business activity accelerating in May
Treasury yield volatility surrounding inflation and Fed taper fears to dominate risk trends
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The Nasdaq Composite looks likely to start receding from session highs in the wake of robust US PMI data crossing market wires shortly after the opening bell on Wall Street. Stocks might struggle to maintain gains notched earlier in the week as investors shift focus back to the threat of Fed tapering. The flash US PMI survey for May blew past consensus forecast with business activity showing an “unprecedented expansion.”
US Dollar Forecast: EUR/USD, USD/JPY Look to PMI Data & Yields
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AUD/USD Price Outlook: Bearish Head & Shoulder Pattern Eyed
2021-05-19 22:15:00
Rich Dvorak,
Analyst
AUSTRALIAN DOLLAR FORECAST: AUD/USD FORMS BEARISH CHART PATTERN
Australian Dollar could weaken against its US Dollar peer due to fears of Fed tapering
AUD/USD price action tumbled -0.84% on Wednesday as the US Dollar strengthened notably across the board of major currency pairs. Deteriorating market sentiment likely weighed negatively on the pro-risk Australian Dollar throughout the session, but the move lower by AUD/USD accelerated sharply in response to the latest FOMC minutes. This seems to be helping AUD/USD price action form the right shoulder of an apparent H&S chart pattern.
Gold Price Forecast: XAU/USD Bid on Weak Dollar, Softer Yields
2021-05-18 22:30:00
Rich Dvorak,
Analyst
GOLD FORECAST: XAU/USD PRICE ACTION EXPLOITING US DOLLAR WEAKNESS
Gold price action is up over 12% since forming a double-bottom near $1,680/oz
XAU/USD has likely piggybacked on US Dollar weakness and lower real yields
Gold outlook remains bright, but the precious metal does seem a bit extended
Gold price action extended its climb for the fourth consecutive trading session on Tuesday. XAU/USD gained 0.14% to trade at fresh 16-week highs near the $1,870-price level. The precious metal is now up more than 12% since it formed a double-bottom chart pattern in March. US Dollar weakness and lower real yields stand out as two primary drivers of gold buying pressure. I recently noted how an acceleration in gold volatility stood out as another bullish catalyst for XAU/USD.
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