Fiona Cincotta
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Nasdaq 100 Forecast: QQQ rises on Google, Apple AI chatter
US stocks are pointing to a stronger open, with tech stocks outperforming. Reports that Alphabet's Google and Apple are in talks to include Google's AI Gemini feature in iPhones has boosted the mood. Nvidia's annual developers conference will also kick off today. While tech news is lifting the mood, attention is also on the Federal Reserve interest rate decision on Wednesday, where the Fed could adopt a more hawkish stance given the sticky nature of inflation.
EUR/USD, FTSE Forecast: Two trades to watch
EUR/USD looks to Eurozone inflation data ahead of the FOMC rate decision. FTSE struggles on central bank jitters, and after China data,
USD/CAD weekly forecast: Pair could rise further with CAD CPI, Fed rate decision due
USD/CAD rose last week and could extend those gains towards 1.36 as attention turns to Canada CPI and the Federal Reserve monetary policy meeting.
Dow Jones Forecast: DJIA falls on inflation worries
US stocks fall after sticky inflation data this week has raised concerns the Fed may keep rates high for longer. The Fed is not expected to cut rates next week but could downwardly revise its dot plot from three rate cuts in 2024 forecast in December to 2 cuts. The USD is on track for a weekly gain as the Fed could turn more hawkish. Oil is set to rise 3% across the week on signs that the market is tightening.
Dow Jones Forecast: DJIA pares gains after hotter PPI
US futures have pared gains after PPI data highlighted the sticky nature of inflation and raised questions about whether the Fed will be able to cut rates three times this year. The data comes after CPI earlier in the week was also hotter than expected. The market has adjusted its June rate-cut bets, but not by a significant margin, which is keeping stocks elevated. Oil extends gains after a bullish IEA oil market report.
USD/JPY, DAX Forecast: Two trades to watch
USD/JPY forecast: The pair rises ahead of a drop in US data. DAX forecast: The German index rises to a new all-time high.
NASDAQ 100 Forecast: QQQ muted ahead of more data tomorrow
US stocks point to a muted start after yesterday's rally. Investors have shrugged off hotter-than-forecast inflation and remain firm that the Fed will cut rates in the June meeting. US economic data is in short supply today. Attention will be on retail sales and producer prices later in the week. Oil prices pop on an upbeat demand outlook from OPEC.
FTSE, EUR/USD Forecast: Two trades to watch
FTSE rises as the economy returns to growth, EUR/USD holds steady with ECB speakers & industrial production data due
S&P 500 Forecast: SPX rises despite hotter-than-expected inflation
US stocks point to a higher start despite US inflation and core inflation coming in hotter than expected. The sticky inflation reading raises questions over whether the Federal Reserve will be able to cut rates three times this year, as indicated in the dot plot in December. While stocks are rising, gains could be limited. The USD is edging higher after the data. Oil struggles for direction ahead of the OPEC monthly market report.
GBP/USD, USD/JPY Forecast: Two trades to watch
GBP/USD falls as the labour market softens. USD/JPY rises as BoJ rate hike doubts appear and ahead of US CPI data.
Dow Jones Forecast: DJIA falls in cautious trade ahead of tomorrow's CPI data
US stocks are pointing to a weaker open, extending losses from last week. Wall Street's main indices dropped on Friday as Nvidia tumbled after mixed US jobs data. Today, the mood is cautious as investors look ahead to Tuesday's inflation data, which could provide more clues about the Federal Reserve's monetary policy outlook. Bitcoin-related stocks rise as the cryptocurrency hits a record high.