Monthly Forex Seasonality – July 2021: Good for Gold, US Stocks; Bad for US Dollar
“Sell in May and go away” hasn’t been a real phenomenon for the US S&P 500 in recent years.
Mexican Peso Outlook: USD/MXN Wilts as Traders Await Mexico Inflation Data
The Mexican peso takes a breather and strengthens modestly against the U.S. dollar, but falling oil prices and somewhat defensive market sentiment limit its gains.
Sterling Outlook: GBP/USD April Range Set on Support- Cable Levels
Sterling has carved the June opening-range just above technical support- we’re on breakout watch. These are the levels that matter on the GBP/USD charts this week.
Oil Price Forecast: Crude Catches Resistance Near Six-Year-Highs
Crude oil has been bid up to fresh highs and buyers are threatening another breakout, with prices testing a key zone on long-term oil charts.
Inflation to throw sand in gears post 10% GDP peak
Bloomberg Economics estimates 2021 GDP growth peaked in the second quarter at a whopping 10%.
Euro May Fall vs. US Dollar as FOMC Minutes Drive Fed Outlook
The Euro may fall against the US Dollar as minutes from June’s FOMC meeting reinforce bearish technical positioning after prices broke chart support.
EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Jun 22, 2021 when EUR/JPY traded near 132.10.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.
US Dollar Outlook: USD/CAD May Rise as AUD/USD, EUR/USD Fall. Retail Bets Eyed
The US Dollar may appreciate ahead as retail traders increasingly bet that the Greenback may weaken. Upside bets are falling in USD/CAD, while rising in AUD/USD and EUR/USD.
Yen Q3 Fundamental Forecast: Road Ahead Remains Tough
The road ahead for the Japanese Yen in the third quarter remains tough, with USD/JPY perhaps looking to rise amid a less-dovish Federal Reserve amid persistent inflationary pressures.
Australian Dollar Forecast: Dovish RBA Adds to Delta Variant Woes for AUD/USD
The Australian Dollar continues to show weakness versus the US Dollar as the Delta Covid variant drags on sentiment as Sydney’s lockdown continues. Recent dovish comments from the RBA may pressure …