NZD/USD Rate Approaches 2020 High as Net Short Exposure Persists

NZD/USD appears to be on track to test the 2020 high (0.6733), with the RSI flirting with overbought territory amid the crowding behavior in the US Dollar.

from DailyFX - Market News https://ift.tt/2P0K14V
via IFTTT

Yen Price Forecast: USD/JPY, AUD/JPY, CAD/JPY Charts & More

The Japanese Yen has surrendered gains notched earlier this year as safe-haven demand dissipates, but JPY price action looks constructive against its US Dollar peer despite potential for further we...

from DailyFX - Market News https://ift.tt/30CGAqj
via IFTTT

Australian Dollar Outlook Bullish After AUD/USD Crossed Key Threshold

The Australian Dollar may extend its gains versus the USD as market optimism continues to punish havens and put a premium on risk-oriented assets.

from DailyFX - Market News https://ift.tt/2OP976A
via IFTTT

S&P 500 Forecast: Tesla Profitability Sees Stock Set for Index Inclusion

Four consecutive quarters of profitability has made Tesla eligible for inclusion in the S&P 500, even as the stock exhibits bubble-like symptoms. Elsewhere, a Microsoft beat could boost the Nasdaq.

from DailyFX - Market News https://ift.tt/32LwyWo
via IFTTT

USD Breakdown Slows: Can Buyers Swing a Pullback? EURUSD, GBPUSD

The US Dollar finally broke down under the strain of persistent selling since the Q3 open. But with another big support level coming into play, can sellers continue to drive the move?

from DailyFX - Market News https://ift.tt/39k24Mr
via IFTTT

Euro Price Analysis: EUR/USD Breaks Above Key Level of Prior Resistance

Bulls remain optimistic following the approval of a €750 billion recovery fund.

from DailyFX - Market News https://ift.tt/2E38ZOA
via IFTTT

Nasdaq 100 Forecast: Microsoft & Tesla Earnings Ahead, Beware of Bubbles

Tesla’s stock price has soared 260% in the year-to-date, outpacing other automotive makers and technology companies alike. The upcoming quarterly report will provide much-needed insight.

from DailyFX - Market News https://ift.tt/2CGfnee
via IFTTT

US Dollar Drops to Huge Level: Risk of Breakdown if Support Fails

Weaker US Dollar remains the path of least resistance. However, focus resides at pivotal level.

from DailyFX - Market News https://ift.tt/30BWLEf
via IFTTT

EUR/USD Hits an 18-Month High Then Wobbles After the US Orders China to Close its Consulate

EUR/USD hit its highest level since January 2019 in early trade but faded some of the move after the US ordered China to close its consulate in Houston.

from DailyFX - Market News https://ift.tt/2ZPdhSh
via IFTTT

Crude Oil Prices May Turn Lower as US-China Tensions Heat Up

Crude oil prices may fall with stocks as escalating US-China tensions spook the markets. Gold prices may also suffer as the risk-off mood boosts the US Dollar.

from DailyFX - Market News https://ift.tt/2ZP6CHL
via IFTTT

British Pound (GBP) Latest: GBP/USD Stable Despite Trade Deal Concerns

In a sign of Sterling’s underlying strength, GBP/USD has fallen only modestly on a report that the UK-EU negotiations on a post-Brexit trade deal are close to collapse.

from DailyFX - Market News https://ift.tt/32K0vXc
via IFTTT

US Dollar, S&P 500 Stock Index Hinge On Coronavirus Relief Bill Talks

The US Dollar and S&P 500 stock index hinge on the potential for Congress to approve the proposed $1 trillion coronavirus relief bill.

from DailyFX - Market News https://ift.tt/2Bojlru
via IFTTT

Gold Rally Outpaced by Silver While Net Long USD Exposure Persists

The price of gold trades to a fresh 2020 high ($1866) as the crowding behavior in the US Dollar persists, while silver trades 25% higher from the start of the year.

from DailyFX - Market News https://ift.tt/32JdKXN
via IFTTT

New Zealand Dollar Analysis: EUR/NZD, NZD/CAD, NZD/JPY

EUR/NZD continues to be bullied by descending resistance as NZD/CAD sputters on the May uptrend while NZD/JPY aims at retesting a key inflection point.

from DailyFX - Market News https://ift.tt/30B9ZRO
via IFTTT

Copper Price Outlook: XCU/USD May Fall as RSI Diverges with Price

Copper prices look set for a short-term correction as RSI divergence hints at exhaustion of the recent climb to test the yearly highs.

from DailyFX - Market News https://ift.tt/2ZPG9tK
via IFTTT

Hang Seng Index May See Technical Pullback, Gold and Silver Advance

The Hang Seng Index may retrace from yesterday’s highs following a sobering US session. Gold and silver prices surged to seven-year highs.

from DailyFX - Market News https://ift.tt/3eX5mXv
via IFTTT

USD/CAD Rate Trades to Fresh July Low Ahead of Canada CPI

USD/CAD appears to be on track to test the June low (1.3315) as the exchange rate snaps the range bound price action from earlier this month.

from DailyFX - Market News https://ift.tt/30ABKcZ
via IFTTT

Brent Oil Gains, EUR/USD Surges on EU Summit Deal. APAC Stocks to Rise?

Crude oil prices are approaching a level not reached since the pre-OPEC March meeting, with EUR/USD poised to rise after a deal was announced at the EU summit. APAC stocks may follow.

from DailyFX - Market News https://ift.tt/3jvfY2W
via IFTTT

Nasdaq 100 Forecast: Microsoft & Tesla Earnings Ahead, Beware of Bubbles

Tesla’s stock price has soared 260% in the year-to-date, outpacing other automotive makers and technology companies alike. The upcoming quarterly report will provide much-needed insight.

from DailyFX - Market News https://ift.tt/2WIMyVu
via IFTTT

US Dollar Implodes as VIX ‘Fear-Gauge’ Swoons, Gold & Oil Soar

Gold and crude oil are flying high as the DXY Index sinks into negative territory on the year with the broader US Dollar disintegrating alongside safe-haven demand and expected stock market volatil...

from DailyFX - Market News https://ift.tt/39ghQYQ
via IFTTT