The US dollar is holding onto most of its recent gains as US President Joe Biden continues to push for an out-sized stimulus plan to re-boot the American economy.
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.
USD/JPY could be overextended with technical signals pointing to short-term price reversal, while fundamentals scheduled later today could provide upcoming volatility.
The Euro may be at risk ahead of the ECB meeting minutes. Market mood is cautiously pessimistic heading into European hours as investors assess rising longer-term Treasury rates.
Gold prices continue to move lower despite rising inflation bets. Investors have been friendlier towards silver over the same period, however. Why is there a disconnect?
The Singapore Dollar, Thai Baht and Indonesian Rupiah are struggling to make meaningful progress against the US Dollar as the Philippine Peso loses its footing. What is the road ahead?