Gold Up As Dollar Stalls Ahead Of US CPI, Retail Sales
The dollar buying witnessed at the start of the week was driven by rising expectations about a June rate hike following last week’s FOMC statement and a solid US monthly jobs report.
ETF
USDCAD Forecast May 12, 2017, Technical Analysis
The USDCAD pair had a very rough session on Thursday, initially surging much higher, then pulling back drastically, only to bounce again to the highs, and then pulling back to show weakness yet again.
AUDUSD Forecast May 12, 2017, Technical Analysis
The Australian dollar had an interesting session, initially falling, perhaps in sympathy to the moves in the New Zealand dollar.
EURUSD Forecast May 10, 2017, Technical Analysis
After initially gapping higher on Monday, the EURUSD pair has fallen apart. This was a “buy the rumor, sell the news” type of situation when it came to the French elections, and this pullback has been absolutely brutal.
AUDUSD Forecast May 10, 2017, Technical Analysis
The AUDUSD pair fell during the day on Tuesday, as the 0.74 level continues to offer resistance.
Crude Oil Remains Downbeat
Market participants in crude oil are continuing to shrug off persistent jawboning from oil ministers of some OPEC countries, most notably Saudi Arabia, about extending the production cuts into the second half of 2017, and possibly the first quarter of 2018.
Stopping Volume Appears On The Daily Oil Chart
Last week was an interesting one for oil traders (USO, quote) and speculators, as crude oil continued to move lower from Monday to Thursday, before bouncing strongly on Friday and closing in positive territory for the day, with a deep wicked candle on the daily chart and associated with high volume.
Euro, Stocks Down On Profit-Taking Post French Elections
A classic reaction in the markets to the outcome of the French elections. It was widely expected that pro-euro centrist Emmanuel Macron was going to become the new President of France and that he would beat the euro-sceptic Marine Le Pen by a wide margin. And so it proved.
Silver Bears Continue To Growl
There seems to be no end in sight just yet for silver, which continues to remain beaten down and unloved, and dragging its more illustrious cousin gold down with it.
Will The ES emini Join The Leader Of The Pack Soon?
For US equity traders and investors these are worrying times, as the NQ emini continues to blast its way ever higher, and leaving its sister indices becalmed and lacking direction, with the ES emini a classic example.