Oil Price Update: WTI and Brent Rally Faces Technical Headwinds
Oil prices remain supported for now as supply fears remain a concern. A return of USD strength and Technical hurdles could limit further upside. Interesting times for the Oil market.
AUD/JPY IG Client Sentiment: Our data shows traders are now net-short AUD/JPY for the first time since Mar 09, 2023 when AUD/JPY traded near 89.84.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bullish contrarian trading bias.
British Pound Price Setup: GBP/USD, EUR/GBP, GBP/JPY
The British Pound's rebound this month from fairly strong support keeps alive the possibility of further gains against the US dollar. What are the key levels to watch in GBP/USD,…
Hang Seng Index Jumps on Alibaba News as Banking Issues Subside. Higher HSI?
The Hang Seng Index found a firmer footing after Alibaba announced a split up of the company adding to the positive sentiment from a calm banking sector. Where to for…
S&P 500 and Nasdaq Outlook: Resilience Amid the Turmoil in the Banking Sector
The S&P 500 and the Nasdaq 100 index have been resilient despite the turmoil in the banking sector. However, the indices would need a strong catalyst to break higher from…
EUR/CHF IG Client Sentiment: Our data shows traders are now net-short EUR/CHF for the first time since Jan 13, 2023 when EUR/CHF traded near 1.00.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/CHF-bullish contrarian trading bias.
USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Feb 15, 2023 when USD/CAD traded near 1.34.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
Gold Prices Remain Vulnerable to PCE Data as Retail Traders Boost Upside Exposure
Gold prices rallied as the US Dollar fell on Tuesday. XAU/USD remains vulnerable to volatility that may arise from US PCE data later this week as retail traders boost upside…
Australian Dollar Softens on CPI as Banking Risk Fears Allayed. Higher AUD/USD?
The Australian Dollar softened after CPI data today after it was buoyed by market sentiment with perceptions that the banking crisis is over. If the RBA pause, will AUD/USD go…
US Dollar Dismissed Despite Upbeat Consumer Confidence, Further Pain Ahead?
Despite upbeat US consumer confidence data, the US Dollar did not receive any love on Tuesday as the 2-year Treasury yield gained. Is further pain ahead for the currency during…