China has discovered a new Omicron subvariant. Oil prices are falling in anticipation of new restrictions in China. BOC is expected to deliver a 75bps rate hike. Today’s outlook for the Canadian dollar (6C) futures is bearish as there are new demand worries after China discovered a highly transmissible Omicron subvariant. The number of infected Read More…
Gold demand is going down as it gets more expensive for overseas buyers. Gold futures might only turn bullish if the Federal Reserve succeeds in controlling inflation. Gold futures are trading near September 2021 lows on the charts. Today’s price outlook for gold (GC) futures remains bearish as the dollar strength continues to hurt the Read More…
NQ Futures edged higher on upbeat US data. FOMC minutes show a 50 bps rate hike is possible in July. Bulls can breathe again. Today’s outlook for E-mini Nasdaq 100 (NQ) futures is bullish after upbeat US data pointed to slight economic growth, reducing market recession fears. The Institute of Supply Management released yesterday showed Read More…
Recession fear and strong US dollar triggered sell-off in the crude oil futures. China announced a new round of COVID-19 tests in Shanghai, which could lead to demand dampening restrictions. There is a risk of tighter demand if the global economy tips into a recession. Today’s crude oil (CL) futures forecast is bearish as demand Read More…
Norwegian offshore workers are on strike, which might hurt the oil supply. Joe Biden is considering easing China tariffs, which has rekindled the hope of inflation peaking in the US. RBA is among the central banks raising rates rapidly to tame inflation. E-mini S&P 500 (ES) futures price is struggling to retain any gain as Read More…
The RBA is expected to raise rates by 50bps tomorrow. Australia might end the year with inflation at 7%. Price is attempting a break above the 30-SMA. Australian dollar (6A) futures outlook today is bullish as prices bounce off two-year lows. This move comes ahead of tomorrow’s Reserve Bank of Australia meeting, which is set Read More…
