KQMarkets

KQMarkets

Gold has risen above key resistance at $1750 and we have hence changed our view to long as the FOMC minutes indicated interest rates will be kept low despite rising inflation. Additionally, a significant correction in the coming weeks in particular on the back of US corporate earnings results could see increased demand as it is a safe haven asset. Therefore we...

KQMarkets

We still hold a short Silver view whilst prices remain below resistance at $26.6 despite the precious metal having upward momentum. The 50 day MA has risen above both the 100 day MA and 200 day MA as the FED has indicated they would maintain their dovish stance on monetary policy in spite of rising inflation. Additionally, a weaker US dollar has boosted Silver...

KQMarkets

We still hold a long view on Bitcoin despite the cryptocurrency pulling back sharply over the weekend predominantly on the back of speculation that the US treasury may crackdown on money laundering through cryptocurrency. We are encouraged that this pullback would not spell the beginning of a more significant correction as Bitcoin bounced back just as quickly. We...

KQMarkets

We have changed our USDJPY view from long to neutral as the currency pair has fallen below support at 109.878 over the past week. This we believe is predominantly due US dollar weakness as the FOMC maintained it's stance that it will keep interest rates low despite rising inflation. Additionally, there is downside potential for the USDJPY if equities sell off on...

KQMarkets

We see still EURUSD moving lower as the currency pair continues it's upward momentum despite higher than expected inflation data with core inflation rate YoY coming in at 1.6% vs 1.5% forecast. The EUR has been boosted by greater optimism surrounding the vaccine rollout in the EU as we await key economic data releases including German inflation and US retail sales...

KQMarkets

We still hold a long view on AUDUSD whilst the currency pair is above support 0.754 despite it's recent downtrend since the end of February. The US dollar has continued to strengthen as treasury yield's have risen in particular on the back indications that the US economy, as indicated by the labor market, is recovering strongly from the pandemic. However, the FOMC...

KQMarkets

We still hold a neutral view on gold whilst the precious metal is below key resistance at $1750 as we await the FOMC minutes release later today. The FOMC minutes could indicate whether the FED will continue to keep interest rates low despite fears of increased inflation due to the extent of quantitative easing since the beginning of the pandemic. If the FOMC...

KQMarkets

We have changed our Silver view from neutral to short as treasury yields have continued to rise despite the FED indicating in it's last press conference that rates will not be raised until the end of 2023. This has led Silver dropping significantly since then and we anticipate prices to challenge long term support at $20.8 in the coming weeks.

KQMarkets

Bitcoin is set to challenge all time highs above $60,000 once again on the announcement that Visa will enable payments to be settled in cryptocurrency. We believe the cryptocurrency will continue it's strong upward momentum and has an RSI of 61 indicating it is not yet in overbought territory so could potentially reach the psychological $100,000 level at some...

KQMarkets

USDJPY has risen significantly since non payrolls earlier this month due to rising US yields and the current risk on environment with equities reaching time highs. We anticipate further upside for the currency pair if prices consolidate above resistance at 109.878 as we await key data this week including ISM manufacturing and non farm payrolls.

KQMarkets

We still see EURUSD moving lower as the currency pair looks to consolidate below support 1.182. This is despite better than expected Euro and German PMI data earlier today whilst US durable goods order and PMI came in lower than expected. Continued covid vaccine supply issues resulting in fears over the impact of a third wave on the Eurozone economy are...

KQMarkets

We see AUDUSD moving higher whilst the currency pair is above support at 0.754 despite rising US Treasury yields as we await AU and US data released this week include AU PMI and US durable goods orders. Increased demand for commodities in particular from China as the global economy is expected to start recovering post the pandemic over the course of 2021 would...

KQMarkets

We hold a neutral Gold view despite it's recent bounce post Powell's comments in Wednesday's FED press conference that it is not expected that interest rates will be raised till the end of 2023. This is because Gold is still in a downtrend with the 50 day MA at $1794.20 being below the 100 day MA at $1831.5 and 200 day MA at $1858.7. Therefore we would want Gold...

KQMarkets

We still hold a neutral view Silver view despite believing there is upside potential for the precious metal in the current market environment. The Fed has indicated in last's nights press conference that it doesn't anticipate raising interest rates until the end of 2023. This coupled with expectations of economic growth post covid large could lead to increased in...

KQMarkets

Bitcoin has recovered and consolidated above resistance around $54,000 from it's correction last month which saw price fall below $44,000 with Aker the Norwegian gas and oil giant being the latest large organization to invest in cryptocurrency. Additionally, with the 50 day MA being higher than the 100 day MA and the 100 day MA being higher than the 200 day MA...

KQMarkets

USDJPY has continued it's resurgence since the beginning of the year as prices have consolidated above resistance 106.72. This has predominantly been due to rising US treasury yields as we anticipate the currency pair potentially moving higher post non farm payrolls being released on Friday.

KQMarkets

We see EURUSD moving lower pre key economic data releases this week including Euro Area Core Inflation Rate YoY and non farm payrolls. Additionally, the 20 day MA has dropped below the 50 day MA indicating a slowdown in the upward momentum the currency pair had gathered since March 20 lows.

KQMarkets

AUDUSD has pulled back since hitting the 0.8 psychological level as US yields rose significantly last week leading the US dollar to strengthen. We still hold a long view whilst the currency pair is above support at 0.754 as we await the RBA rate decision and AUD GDP growth rate data next week.