US Dollar weakness was prevalent for most of April with the DXY Index sinking nearly -3% lower, but the Greenback rebounded sharply into month-end. Where is EUR/USD, GBP/USD, and USD/CAD headed next?
The Nasdaq 100 index may be set to push to new record highs after forming a bullish inverse “Head and Shoulders” (H&S) chart pattern, which hints at further upside potential.
The Australian Dollar appears at risk of a reasonable decline in the week ahead against the US Dollar. However, bullish technical suggest further gains against the Japanese Yen may be at hand.
Gold is set to close out April higher, breaking a 3-month losing streak. Prices may aim for channel resistance if XAU/USD breaks above its 100-day SMA.
The US Dollar may continue trading lower against ASEAN currencies, with USD/SGD and USD/THB eyeing key support ahead. USD/IDR and USD/PHP also exhibit bearish postures.