Pound Technical Outlook: GBP/USD Testing Support, Trend
GBP/USD broke out above a key level of resistance; it is now an important source of support as cable tries to keep a steady trend higher.
Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since May 05, 2021 08:00 GMT when Germany 30 traded near 15,153.80.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 30-bearish contrarian trading bias.
US Dollar May Rise Further as PPI Data Stokes Inflation Fears
The US Dollar may continue to push higher if PPI data tops forecasts, stoking worries about runaway price growth that forces sooner Fed stimulus withdrawal.
Bitcoin (BTC) Plunges on Tesla Bitcoin Suspension, AUD/USD Spars USD Strength
Bitcoin plunged after Tesla CEO Elon Musk announced that the company is suspending the acceptance of Bitcoin for purchases. Meanwhile, AUD/USD struggles against a sharply strong US Dollar.
New Zealand Dollar Forecast: Just a Flesh Wound – Setups for NZD/JPY, NZD/USD
The turn through the middle of the month hasn’t been kind to the Kiwi. But that’s not really a surprise?
Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Mar 05, 2021 when Wall Street traded near 31,529.20.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.
Oil Price Outlook: Crude Surges- Bulls Eye Major Breakout at May High
Oil prices surged more than 16% off the March low with WTI now threatening a major breakout at the May highs. These are the levels that matter on the technical charts.
Six reasons Asia’s oil refiners aren’t going away anytime soon
Oil refiners are having to plan for an oil-free future in mobility as cars begin switching to batteries, ships burn natural gas, and innovation brings on other energy sources such as hydrogen.
Are global shippers of crude set for a turnaround?
Global shippers of crude are poised to go full steam ahead as they ride a blistering rally in oil.
Canadian Dollar Technical Forecast: USD/CAD Breakdown at a Big Level
USD/CAD is very near the 2017 low; watch price action closely for cues as to whether a recovery can begin or the current trend will continue to extend.