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 …
US Dollar Rally – Trade or Fade: EUR/USD, NZD/USD
US Dollar strength has stuck around since the FOMC rate decision. Might this unsettle matters for this summer? Or will the USD stick to its recent range?
Mexican Peso Sinks on Risk-Off Sentiment, USD/MXN Eyes its 200-Day SMA. Now What?
The Mexican peso weakens on risk aversion, broad-based US strength and falling oil prices, but its medium-term outlook remains positive, supported by its higher carry advantage.
Silver IG Client Sentiment: Our data shows traders are now at their most net-long Silver since Mar 08 when Silver traded near 2,515.30.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Silver-bearish contrarian trading bias.
USD/JPY IG Client Sentiment: Our data shows traders are now net-long USD/JPY for the first time since Jun 18, 2021 when USD/JPY traded near 110.19.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bearish contrarian trading bias.
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.