Gold Price Latest: Multi-Month Bullish Trend Survives its First Real Test
Gold remains under pressure from a strong pre-NFP US dollar and trend support may well be tested again
US Dollar Price Action Setup for NFP: EUR/USD, GBP/USD, AUD/USD Levels
Market focus on NFP following the stellar ADP report. Key FX levels to watch.
British Pound Price Outlook: GBP/USD Pullback Consolidates Ahead of NFP
GBP/USD drops towards 1.41 as NFP data looms after a strong beat in ADP figures
Indian Rupee at Risk as RBI Lowers GDP Estimates, Boosts Bond Buys. USD/INR Eyes NFPs
The Indian Rupee weakened after the RBI increased bond purchases and lowered GDP estimates at June’s rate decision. Ahead, USD/INR is eyeing US non-farm payrolls after a wedge breakout.
Oil – US Crude IG Client Sentiment: Our data shows traders are now net-long Oil – US Crude for the first time since May 24, 2021 when Oil – US Crude traded near 6,606.90.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil - US Crude-bearish contrarian trading bias.
Natural Gas Forecast: Key Trendline in Focus as Strong Exports Provide Support
Natural gas is on track to record its second weekly price gain. Strong export figures have helped underpin prices and remain in focus, but short-term weather and inventory drivers may…
Nasdaq 100 Retreats, Hang Seng May Fall on Escalating US-China Tensions
The Nasdaq 100 index pulled back ahead of Friday’s nonfarm payrolls data, as fears about Fed tapering geared up. The Hang Seng Index faces a headwind of re-escalating US-China tension.
Babylon, Telehealth Startup, Set to Go Public Following $4.2 Billion SPAC Deal
British telehealth startup Babylon is set to take public markets by storm following a massive $4.2 billion merger with Alkuri Global Acquisition Corp.
Chinese Yuan Forecast: USD/CNH May Surrender Gains Despite Rising US-Sino Tensions
The Chinese Yuan continues to weaken from a 3-year high, but USD/CNH downside may continue even amid rising US-Sino tensions.
AUD/USD Snaps Lower; US Dollar Volatility to Rise as NFPs Loom
AUD/USD turned sharply lower on Thursday and broke neckline support, providing confirmation of the bearish head and shoulder pattern. Will the US Dollar strengthen further on NFPs due for release?