Dow Jones, Nasdaq, US dollar, gold, treasury bills, central bankers


Stock forecast

Stock forecast

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Check out the outlook for equities this quarter!

Global market sentiment recovered over the past week, with stocks scoring higher in North America, Europe and the Asia-Pacific region. On Wall Street, the S&P 500, Dow Jones and tech heavyweight Nasdaq Composite gained 4.65%, 3.89% and 6.01% respectively. The VIX market ‘fear meter’ fell to its lowest level in nearly two months.

Despite the risky tone, the port-pegged US dollar was able to hold its own in some cases. It won against the Swiss Franc, Euro and Japanese Yen, while losing to the Australian Dollar, New Zealand Dollar and British Pound. A softer-than-expected non-farm wage report at the end of the week caused most of the greenback’s decline, as it closed on Friday.

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What we should pay attention to is the story of rising government bond yields over the longer term. The 30-year yield closed at its highest level since February 20th, 2020. This, combined with a stabilizing greenback, weighed on the prices of precious metals such as gold and silver. US fiscal stimulus and rising inflation expectations on the road are likely contributing to this.

The coming week will be relatively quiet, with the Chinese New Year taking the Chinese stock markets offline from Thursday, opening the door to a lower than usual liquidity condition. The US will release its latest inflation data on Wednesday, while consumer sentiment from the University of Michigan is expected on Friday. AUD / USD could see some volatility around the consumer confidence data.

There will be speeches from central bank policymakers to watch out for. Fed Chairman Jerome Powell, ECB Chief Christine Lagarde and BoC Deputy Governor Timothy Lane are in attendance. In addition to weekly EIA inventory data, crude oil prices await OPEC’s latest monthly market report. What else are traders looking at in the coming week?

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Fundamental predictions

GBP / USD Weekly Forecast: EUR / GBP Bearish Breakdown, More GBP Profits Ahead?

GBP is recovering as BoE says no to negative rates, EUR / GBP bearish breakdown.

Euro Forecast: EUR / USD outlook bleak as traders rush to US dollars

The EUR / USD broke below 1.20 for the first time since December 1 last year last week and as traders pile up to US Dollars, the pair appears destined to decline further.

Gold and Silver Price Forecast: USD and yields are moving higher as economic data improves

Precious metals are struggling to hold up as hedges of uncertainty are unwinding.

Will the S&P 500 Extends Record Rally Against Rising Yields and USD?

An improved fundamentals, positive earnings outlook and stimulus outlook appeared to have rejuvenated the equity market rally, but rising long-term yields and a stronger USD could cloud the outlook.

US Dollar Forecast: Rising inflation expectations may support the USD

The US dollar could continue to gain ground against its major counterparts in the near term as a noticeable increase in inflation fuels bets that the Federal Reserve will wind down its bond buying program.

Oil price hike supported by signs of stronger demand and subdued supply

Oil prices are soaring to new annual highs as the depletion of crude oil inventories boost the outlook for consumption, while US production is at its lowest since 2018.

Australian Dollar Forecast: S&P 500 Profits Don’t Inspire, Why The Fight?

The growth-linked Australian dollar lost some ground despite a soaring S&P 500 as the US dollar was boosted by rising government bond yields. This dynamic remains important for looking ahead.

Technical forecasts

US Dollar Outlook: USD Rips – Bear Market Rally or Reversal?

The dollar was up 0.6% in the February opening and the index is now up more than 2.6% from its January low. These are the levels that matter on the DXY technical charts.

Price outlook in pound sterling (GBP): GBP / USD chained by the US dollar, EUR / GBP hits new lows

Sterling continues to move slightly higher across a wide range of currencies, although the strength of the US dollar limits GBP / USD gains.

Australian dollar technical outlook: AUD / USD flirting with trend break in March

Aussie sits on support, but as a new week approaches – will it hold or fold?

Euro technical forecast: EUR / USD, EUR / JPY, EUR / GBP, EUR / CAD

It has been a bad week for the euro, but there may be some positive items as EUR / USD works on a bullish flooded bar to end a fairly bearish week.

Canadian Dollar Outlook: AUD / CAD, NZD / CAD Post-Jobs report levels to keep an eye on

AUD / CAD and NZD / CAD rallied higher after a worse-than-expected Canadian jobs report undermined Loonie’s strength. Main levels to look ahead.

Dow Jones, Nasdaq 100, DAX 30 Forecasts for the next week

Volatility has seen the Dow Jones, Nasdaq 100 and DAX 30 jump wildly between technical levels. However, after breaking through the protracted resistance, the outlook remains constructive.

Gold Price Tech Forecast: Will Bearish Pressures Continue?

Gold price action fell -2% in the past week as precious metals struggle to stay on offer. Could gold bulls host a relief from nearby tech support or will the recent bearish trend continue?

WEEKLY PERFORMANCE IN AMERICAN DOLLARS AGAINST CURRENCY AND GOLD

Total chart USD





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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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