Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
The US Dollar continues to consolidate against most ASEAN currencies, such as the Singapore Dollar, Philippine Peso and Indonesian Rupiah. But, it might make more gains against the Thai Baht.
Gold prices have struggled to move higher over the last six months as yields on long-term Treasuries surged to 12-month highs. However, recent price action suggests a recovery is on the cards.
The S&P 500 may be at risk to a turn lower based on retail trader signals, will the Dow Jones follow. Things appear rosier for AUD/USD, but the same may not be true when looking at technicals.