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British Pound Down on Soft UK GDP Data. Is GBP/USD Topping?

Posted by By 09/07/2021Posted inForex
The British Pound fell as May’s UK GDP report fell short of expectations, reinforcing a recent dovish shift in Bank of England policy bets. GBP/USD may be forming a major…
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US Dollar Outlook: Has the Trend Finally Reversed? USD/SGD, USD/THB, USD/PHP, USD/IDR

Posted by By 09/07/2021Posted inForex
The US Dollar is pushing for an aggressive comeback against the Singapore Dollar, Thai Baht, Philippine Peso and Indonesian Rupiah. Is this the end of its dominant downtrend since 2020?
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EUR/CHF IG Client Sentiment: Our data shows traders are now at their most net-long EUR/CHF since Jan 19 when EUR/CHF traded near 1.08.

Posted by By 09/07/2021Posted inForex
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/CHF-bearish contrarian trading bias.
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Iron Ore to Rise Further as US Infrastructure Deal Aids Recovery Outlook: Q3 Top Trading Opportunities

Posted by By 09/07/2021Posted inForex
Iron ore prices look primed to rise further in Q3 as a developing US infrastructure plan underpins an already bright outlook amid a global recovery.
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AUD/USD Bears May Remain In Control as Chinese CPI Disappoints

Posted by By 09/07/2021Posted inForex
AUD/USD remains under pressure as commodities retreat. Fed hawkishness spurs further gains for USD as China looks set for additional easing.
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AUD/JPY IG Client Sentiment: Our data shows traders are now net-long AUD/JPY for the first time since Jun 21, 2021 when AUD/JPY traded near 83.18.

Posted by By 09/07/2021Posted inForex
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bearish contrarian trading bias.
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Dow Jones Retreats as Sentiment Sours, Will Hang Seng Index Follow?

Posted by By 09/07/2021Posted inForex
Wall Street stocks pulled back broadly on Thursday as viral concerns casted a shadow over the growth outlook. 10-year Treasury yields fell to a 4-month low as reflation hopes faded,…
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Australian Dollar Forecast: Risk Aversion Hammers AUD/USD, Chinese Inflation Eyed

Posted by By 08/07/2021Posted inForex
Risk aversion swept through markets overnight, driving Treasury yields lower and dragging the risk-sensitive Australian Dollar down. Traders are watching Chinese inflation figures to cross the wires.
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Mexico’s High Inflation Opens Door to More Rate Hikes, Mexican Peso Outlook Brightens

Posted by By 08/07/2021Posted inForex
Banxico may have to raise interest rates several times in the second half of the year to combat elevated inflation. Tighter monetary policy is likely to support the Mexican peso.
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Oil Price Rebound Emerges as US Inventories Contract for Eighth Week

Posted by By 08/07/2021Posted inForex
The price of oil extends the rebound from the weekly low ($70.76) as US inventories contract for eight consecutive weeks.
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