Mexican Peso is attempting to snap a five-day losing streak with USD/MXN rebounding off key support. These are the levels that matter on the technical charts this week.
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Tuesday, 7 July 2020
Nasdaq 100 & Dow Jones Forecast: Are Stocks in for Another Leg Higher?
The Nasdaq 100 pressed to new heights as Asian equities surged higher on swelling volume. Will strength in other equity markets help extend the rally in US stocks?
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Market Sentiment: Nasdaq, Gold and Copper all Trending Higher | Webinar
While many financial markets are currently moving sideways, Tech stocks, Gold and Copper prices are all looking technically positive as their prices continue to climb.
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EUR/USD Slides After European Commission Downgrades Forecasts, Risks to the Downside
The latest European Economic Forecast warns of a deeper recession with wider divergences after the European economy suffered the deepest output contraction since World War II.
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Copper Price: Rally Consolidates Back Into Supportive Trend
Copper’s rally off its mid-March spike-low remains in place but fears over a further outbreak of COVID-19 are dampening further gains today.
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British Pound (GBP) Latest: GBP/USD Still Struggling to Break Through 1.25
GBP/USD has yet to make a convincing break above the psychologically-important 1.25 level, with the near-term upside limited by strong resistance at that level.
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CAC 40, IBEX 35 Poised to Fall Amid Souring Market Sentiment
France's CAC 40 stock index seems poised to fall alongside Spain's IBEX 35 equities benchmark as souring risk appetite weighs on European financial markets
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Crude Oil Prices May Turn Lower as Covid-19 Fears Reemerge
Crude oil prices may fall as renewed fears about a second wave of Covid-19 lockdowns undermine risk appetite. Gold prices are struggling for direction.
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Monday, 6 July 2020
US Dollar May Fall as 2021 GDP Outlook Remains Intact: ASEAN Forecast
The US Dollar is pressured as rising coronavirus cases fail to dent 2021 GDP bets. Could the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit rise?
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Australian Dollar Rises as RBA Keeps Rates on Hold
The Australian Dollar continued to trek higher against its US Dollar counterpart as the Reserve Bank of Australia held interest rates steady.
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Gold Holds Near 2020 High as Fed Main Street Program Goes Operational
Current market conditions may keep the price of gold afloat as the Boston Federal Reserve announces that the Main Street Lending Program is now “fully operational.”
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Bitcoin, Litecoin, Ethereum Outlook: BTC/USD, LTC/USD, ETH/USD
Bitcoin and Ethereum prices remain largely in range-bound trade, but a directionlsbias may soon be revealed while LTC/USD is gearing up for a potential spike.
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S&P 500 Up as Virus Growth Slows, Asia-Pacific Stocks to Open Higher
The S&P 500 index climbed 1.59% last night as the Covid-19 growth rate fell below its 7-day average in the ‘sun belt’ states of the US. Asia-Pacific stocks aim to follow higher.
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EUR/USD Bull Flag Still on Radar as RSI Preserves Bullish Trend
A bull flag formation remains on the radar for EUR/USD as the Relative Strength Index (RSI) continues to track the bullish trend from earlier this year.
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AUD May Extend Gains on RBA Rate Decision After Wall Street Bounce
The Australian Dollar may glimmer in Tuesday’s Asia-Pacific trading session as investors gear up for the Reserve Bank of Australia (RBA) rate decision.
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Nasdaq 100 & Dow Jones Forecast: Are Stocks in for Another Leg Higher?
The Nasdaq 100 pressed to new heights as Asian equities surged higher on swelling volume. Will strength in other equity markets help extend the rally in US stocks?
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Canadian Dollar Price Outlook: USD/CAD Stalls Ahead of Key Support
USD/CAD has been range bound over the past few weeks, with the 1.3500 area thwarting sellers on multiple occasions. Can bears take control?
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DAX 30 Forecast: What Stock Will Replace Wirecard on the DAX 30 Index?
The accounting scandal that took down Wirecard has led to an implosion in share price for the tech stock, rendering it subject to removal from the DAX 30. What stock will take its place?
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US Dollar Weakness Abates on Upbeat Services PMI
US Dollar price action recovered marginally Monday morning on a better than expected services sector report from the Institute for Supply Management
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US Dollar, VIX Index Stumble as Stock Market Euphoria Prevails
Appetite for risk endures and continues to weigh negatively on the broader US Dollar, which has tracked the VIX Index ‘fear-gauge’ lower as global equities melt higher. Where is the USD and stock m...
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ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press Conference
The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clue...
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The Nikkei 225 has bounced at important long-term support and staged a modest turnaround. However, its down-channel endures and will need to...
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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...