Gold Price Forecast: Bullish Breakout Faces First Test – Levels for XAU/USD
Gold prices are treating former resistance as support.
CHF, Commodity currencies Higher; Japan, China PPIs
Rates as of 0500 GMT Market Recap Why was CHF the bestperforming currency, followed by the commodity currencies? Usually CHF does well in riskoff periods while the commodity currencies do well in riskon periods. It should be unusual to see them moving in the same direction. But its not. On the contrary theres a positive […]
NZD Up, USD Down in inconsistent Trading; U of M survey
Rates as of 0500 GMT Market Recap I have to admit, as an American citizen, Im more interested in what went on in the US overnight than I am in the FX market this morning. Its incredible to see a former US president accused of making off with toplevel nuclear secrets. Whats even more amazing […]
Pound Tumbles, Data Shows British Economy Contracted in June
Aug 12 Reuters Sterling slid against a firming dollar on Friday and also lost ground on the euro as data showed Britain39;s economy contracted in June, even if not by as much as had been feared. The Office for National Statistics said gross domestic product fell by 0.6 in June, the biggest contraction since January […]
USD Up, inflation Expectations rise; NZD Down on China data
Rates as of 0500 GMT Market Recap A stronger dollar and a stronger US stock market. With US growth prospects improving, the widening growth differential between the US and other economies is leading to a supportive environment for both the dollar and US stocks. The stock market has continued to rally despite a steady rise […]
FTSE 100 Up as AstraZeneca Gains Offset Commodity Losses
AstraZeneca jumps on positive cancer drug update Focus on UK labour, CPI data later this week FTSE 100 up 0.2, FTSE 250 adds 0.1 Aug 15 Reuters UK39;s FTSE 100 edged up on Monday as gains in drugmaker AstraZeneca and consumer stocks relieved pressure from mining and oil heavyweights after data showed China39;s economy unexpectedly […]
S&P 500, Nasdaq 100 Price Action Setups: Levels for This Week
The Nasdaq and S&P 500 set a fresh two-year-low two months ago. But, already the Nasdaq has set a fresh three-month-high as the S&P gears up for a test at a key point of resistance.
US Dollar Technical Analysis: DXY Coming off Support, Trying to Turn the Corner
The DXY is rising off support, and in the process of turning the corner; correction may be over if last week’s lows can hold up.
Markets Week Ahead: Dow Jones, US Dollar, Gold, RBNZ, FOMC Minutes, AUD/USD, NZD/USD
Market sentiment surged last week after US inflation cooled, boosting risk-sensitive currencies and stocks. Gold also climbed against a weaker USD. The FOMC Minutes, RBNZ, jobs data and inflation r…
USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Aug 05, 2022 15:00 GMT when USD/CAD traded near 1.29.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.