Technical Analysis

The USDCAD has continued its move to the downside today on the back of lower rates and the weaker US data, Technically, the price moved below the 100 and 200 bar MA on the 4-hour chart yesterday, and remained below those MAs in the early Asian session today, before moving lower on the data. The

The S&P index extended to a new session high at 5489.60, and in the process extended above the highest closing level at 5487.02 from June 18. The high intraday level was at 5523.64 reached on June 28. Meanwhile, the NASDAQ index as now up close to 100 points at 17981.45. After closing at a record

The AUDUSD buyers remain in control with the price above the 100/200 bar MA on the 4-hour chart. Both those MAs come in at 0.6644. The price is currently near 0.6662. Going into the close – and into the new trading day – those MA will be the key barometer for the pair. Staying above

The NZDUSD is trading near session lows and in the process is testing its converged 100 and 200-day moving averages near 0.6068. When both the 100 and 200 day moving averages are converged, it represents a key risk/bias defining level for both buyers and sellers. Moving below with momentum and traders will target the 50%

Crude oil futures are settling at $83.38. That is up $1.84 or 2.26% on the day. The gain is the largest one day gain since June 10 when the index rose 2.93% and driven by expectations of higher summer demand and concerns over potential supply shortages due to OPEC+ production cuts. Oil prices increased by

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview This was a messy week for many markets, including gold. After some up and downs, we are ending the week basically flat. There was no real change in the fundamentals this week as the data just showed some more rebalancing in the US labour market but didn’t signal any material weakness. As of

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the

Fundamental Overview Crude oil managed to eventually break above the key $80 resistance as the market has finally started to catch up to positive drivers. In fact, we got the recent OPEC+’s extension of voluntary output cuts, and we are seeing a pickup in economic activity as the US PMIs showed once again last Friday.

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report yesterday. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it also supports the risk sentiment

Fundamental Overview We got a bit of a pullback in the S&P 500 in the last few days. If we were to try to find a catalyst, the second miss in a row in the US Jobless Claims last Thursday could be it, but the data was still pretty good and not worrying in the

Fundamental Overview The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be generally positive for risk sentiment going forward.

Fundamental Overview The USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be positive for risk sentiment for the time