Capital.com Research Team

Gold and Silver turn dovish ahead of the US jobs data

During the last seven trading sessions, the S&P 500 has formed two candle patterns. With these patterns directly opposing each other, let’s explore which pattern is best placed to win out over the coming weeks.

After months of waiting, a rate cut from the ECB on Thursday looks like a done deal. Data from Reuters shows markets pricing in a 96% chance of a 25-basis point cut from the European Central Bank following Thursday’s policy meeting.

Let’s take a look at three FTSE 100 heavyweights demonstrating high levels of relative strength.

Consumer inflation ticked up in May in the Eurozone but markets remain convinced a rate cut is coming on June 6th.

GBP/USD turned bearish on Wednesday after being rejected at 1.28 the day prior. It’s not the first time the pair has been rejected at that level which suggests it has become somewhat of a psychological barrier, at which buyers need to show increased commitment to overcome.

US equity indices pull back from recent highs as traders prepare for the US PCE data

Crude oil prices extend their losses on Thursday. US crude (WTI) has pulled back to $78.50 per barrel, ending the bullish attempt to regain the $80 handle after bouncing from $76 earlier this week.

USD/JPY attempts to build bullish momentum but fears of FX intervention limit the advances

The markets continue to look for signals of disinflation in the United States. The latest PCE Index data, the US Federal Reserve’s preferred inflation gauge, is released on May 31, 2024.