Forex

USD/JPY is showing signs of exhaustion after its impressive rally in recent weeks. Meanwhile, AUD/JPY is carving out a double top pattern, which may have bearish implications if confirmed.

EUR/USD has fallen significantly in recent weeks, hit by the broad-based U.S. dollar strength, with the pair now testing trendline support, the last line of defense against a deeper pullback.

Spot Gold rose and the dollar index (DXY) fell despite positive PMI data. Manufacturing remains a concern, but service sector growth accelerated to a 13-month high due to increasing demand.

CAD remains around the 1.35 level with bulls and bears torn between the US debt ceiling narrative as well as OPEC+.

The International Monetary Fund has performed a quick 180 and predicted that the UK economy will grow in 2023 and after last month warning of a contraction.

The Dow and CAC40 have struggled to make progress, though inflows continue to support the Nasdaq 100.

Euro Area PMI saw the manufacturing slump continue while the service sector showed signs of easing. Early warning signs or a pause before a busy summer?

The U.S. dollar remains apprehensive as debt ceiling talks continue ahead of some key US economic data this week. US PMI figures and Fed speak in focus today.

The crude oil price steadied again today as the broader macro picture remains somewhat opaque despite reassurance from Biden and McCarthy. Would a resolution boost WTI?

AUD has been mixed against its peers as Australian rate hike expectations scaled back after employment unexpectedly fell in April. The key focus is now on retail sales data due…