FTSE 100 at Six-Week Lows as the Market Appears Rattled, 7000 Key Level in Sight
The blue chip index marched lower as mining stocks led the way with recession fears and energy prices continuing to weigh on sentiment.
FTSE 100 IG Client Sentiment: Our data shows traders are now net-long FTSE 100 for the first time since Jul 25, 2022 when FTSE 100 traded near 7,303.30.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger FTSE 100-bearish contrarian trading bias.
Gold Price Outlook: Gold Falls to Critical Support
Gold on the verge of breaking 1700, 2022 lows under threat
USD/JPY Outlook: USDJPY Briefly Marks New High Ahead of NFP
The path of global monetary policy continues to drive FX markets as USD/JPY tagged a new 24-year high this morning. Attention turns to Friday’s NFP print
South African Rand Forecast: ZAR Suffers at the Hands of Global Risk Sentiment & Weak Chinese Data
USD/ZAR looks to test fresh 2022 highs as recessionary concerns grow amid a hawkish Fed and lesser demand for commodities.
Euro ( EUR) Latest – EUR/USD Bolstered by Bumper ECB Rate Hike Expectations
The Euro is struggling to keep in touch with the US dollar but expectations of an out-sized ECB rate hike next week are helping the besieged currency.
AUD/USD Forecast: Stronger USD & Demand Destruction Weighs on Aussie Dollar
The Aussie dollar finds itself on the backfoot this morning as a hawkish Fed, robust USD and declining commodity prices take its toll on the pro-growth AUD.
US 500 IG Client Sentiment: Our data shows traders are now net-long US 500 for the first time since Jul 27, 2022 when US 500 traded near 4,016.28.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bearish contrarian trading bias.
Euro Struggles After Another Fed Flex Toward Higher Rates Boosts the US Dollar
The Euro gave up some ground today as US Dollar strength continues across the board after more Fed messaging lifted Treasury yields and sunk currencies, commodities and equities.
Gold Price Lurching Lower as US Dollar and Yields Gain. Where to for XAU/USD?
Gold has eased in the aftermath of the Federal Reserve's Jackson Hole meeting that sent Treasury yields and the US Dollar higher. Will the XAU/USD recover?