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Monday, 1 July 2019

ASX 200 Bulls Keep Eyes on Record Peak As Momentum Holds Up

The ASX 200 has settled back into a narrow daily-chart range but its bulls still clearly dare to dream of a retest of all-time highs

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USDCHF May be the Best Dollar Bullish Option for Trade War Status Quo

The G-20 summit managed to render a ‘status quo’ scenario for trade wars, yet we are unlikely to hold the course in the Dollar that we’ve come to expect. That makes the USDJPY less appealing and USDCHF a good replacement.

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Gold Prices Susceptible to Larger Pullback as RSI Offers Sell Signal

Gold prices stand at risk of facing a larger correction as the Relative Strength Index (RSI) falls back from overbought territory and flashes a textbook sell-signal.

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AUD Currency Volatility: RBA Rate Review Eyed Post G20

Currency traders might expect AUD/USD and AUD/JPY to move 43 pips and 54 pips respectively tomorrow judging by Australian Dollar overnight implied volatility readings priced ahead of Tuesday's RBA meeting.

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Volatility Swoons as Risk Assets Rejoice Trump-Xi G20 Meeting

Volatility across asset classes gets crushed owing to the latest influx of risk appetite following last weekend's G20 Summit. What might volatility suggest about the markets going forward?

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US Dollar Weakness May Fuel Gold and EURUSD Gains

US Dollar hovers near a nine-month support line. A review of the Elliott wave charts shows a break below the support line may drive gold, EURUSD, and GBPUSD higher.

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Forex Economic Calendar Week Ahead: US-China Trade War, RBA Meeting, UK PMI, Canada Jobs, US Jobs

The US-China trade war détente, July RBA meeting, and June US nonfarm payrolls report (among others) will guide FX markets in the holiday-shortened week.

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Gold Price Outlook: XAUUSD Pulls Back After a Big Month

Gold prices had a big month of June, gaining almost 13% from the May 30 low. But will the second half of 2019 be as friendly to gold bulls?

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Copper Price Outlook: Looking for a test of the Weekly Supports

Today, Copper rallied to its highest levels in six weeks however, the uptrend remains weak. Here are the key chart points to know.

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EU keeps world trade afloat despite US threats, Mercosur trade deal achieved after 20 years

As Donald Trump is threatening to increase protectionism in world trade the EU is doing just the opposite by seeking fruitful trade deals around the world to ensure its goods are freely traded.

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Crude Oil Price Gains May Limit USDCAD Rebound Potential

Geopolitical tensions surrounding Iran are splashed across the newswire today, including developments regarding the OPEC supply production cuts.

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US Dollar Price Outlook: EUR/USD Testing Support, USD/JPY Resistance

The US Dollar has posed a mild gap with a bounce to start Q3 trade, but are USD bears prepared to hibernate in the second half of the year?

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EUR/USD: Net-Short Positions increase by 14.1% from Last Week

Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EUR/USD trading bias.

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USD Rises on Trade Truce, However, Fed Easing is Coming, Crude Oil Soars on OPEC - US Market Open

Brent and WTI crude futures are on the front foot begin the week, rising as much as 3% on trade truce and OPEC pledge. USD finds support, however, eyes on ISM.

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Dollar, Gold, Equities 3Q Forecast Involves Reversal Threats, Destabilizing Themes

We are heading into the third quarter and second half of 2019 with markets poised for significant movement. That said, it isn't clear whether the systemic move will be a sustained charge for the likes of the Dollar, S&P 500 and gold or conversely a disruptive reversal. What is clear is that the market does not seem to fully appreciate the risk associated to the systemic fundamental risks being worked through or the volatility that they can spark throughout the financial system.

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