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Gold Prices Proving Resilient During Correction as Gold Volatility Drops

Posted: 02 Jul 2019 07:45 AM PDT

Gold volatility has pulled back significantly in recent days, but gold prices have not fallen as much as the gold volatility contraction would imply.

Platinum Price Analysis: Buyers Losing Momentum

Posted: 02 Jul 2019 07:30 AM PDT

On Friday, Platinum printed its highest levels in six weeks, however; it showed clear weakness signs after. Here are the key points where the sellers could take charge.

GBP/USD: Net-Long Positions increase by 10.1% from Last Week

Posted: 02 Jul 2019 06:40 AM PDT

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD bearish contrarian trading bias.

EURUSD Gains Limited on ECB Sources, GBPUSD Finds Support - US Market Open

Posted: 02 Jul 2019 06:10 AM PDT

The Pound is broadly weaker across the board, following another round of weak UK data. EUR gains limited as ECB look set to signal further easing is coming at July meeting.

Crude Oil Price Outlook: Oil Grind Continues at Confluent Resistance

Posted: 02 Jul 2019 05:30 AM PDT

Crude oil prices put in a bullish gap to open this week's trade, but bears quickly came back to push prices back-below confluent resistance.

Market Sentiment Helped by US-China Trade Truce | Webinar

Posted: 02 Jul 2019 04:25 AM PDT

A possible truce in the US-China trade war is lifting market sentiment. However, it is being offset by a continuing trade dispute between the US and the EU.

Gold Prices Remain Bullish, Silver Prices May Begin to Outperform Gold

Posted: 02 Jul 2019 04:00 AM PDT

Gold sees a marginal pullback from overbought territory, however, the outlook remains bullish, while silver may start to outperform gold prices on a pullback in the gold/silver ratio.

Canadian Dollar Forecast: USD/CAD Looking to Re-coup Recent Price Losses - Levels to Watch

Posted: 02 Jul 2019 03:10 AM PDT

USD/CAD lost last month nearly 3.1% of its value. Here are the key technical levels the pair may encounter in the few coming days.

GBPUSD Drops as UK Construction Sector Collapses, Fear of Q2 Contraction

Posted: 02 Jul 2019 02:30 AM PDT

The UK economy faces rising risks as political uncertainty weighs on growth. Construction and Manufacturing PMIs experience sharp declines. Focus on Services PMI to consolidate a direction

USDSEK Retesting Critical 17-Month Rising Support - Break Ahead?

Posted: 02 Jul 2019 01:00 AM PDT

USDSEK is trading at the cusp of former support now-turned resistance while USDNOK and NOKSEK appear to have entered congestive periods.

Crude Oil Prices Shrug at OPEC Output Cuts, Chart Hints at Top

Posted: 02 Jul 2019 01:00 AM PDT

Crude oil prices shrugged at an OPEC decision to prolong coordinated output cuts through early 2020 even as technical positioning warns that a turn lower may be in the works.

US Dollar, Stocks Eye Fed’s Willians Outlook on Economy, Policy

Posted: 01 Jul 2019 11:30 PM PDT

The US Dollar and local equity markets will be closely watching a speech from FOMC Vice Chairman John Williams where he will outline the outlook for the economy and monetary policy.

Philippine Peso Post-G20 Rally Eyes CPI, INR to India Budget Deficit

Posted: 01 Jul 2019 11:30 PM PDT

The Philippine Peso may extend gains from the G20 US-China trade truce if local CPI data beats expectations. Meanwhile, the Indian Rupee awaits the fiscal 2020 budget deficit target.

An S&P 500 Record High Not Worth Trusting, A Dollar Recovery More Likely to Stall

Posted: 01 Jul 2019 10:08 PM PDT

We start the new week/month/quarter with a mixed perspective. On the one hand, there is a favorable interpretation of the G-20 summit, but that curbs Fed cut views and conflicts a clear growth downgrade. And then there is liquidity…

Australian Dollar Whipsaws As RBA Cuts Rates For Second Straight Month

Posted: 01 Jul 2019 09:33 PM PDT

The Australian Dollar fell initially but bounced quickly on news that the Official Cash Rate had been cut to a new record low of 1%, following an earlier reduction in June.

AUDUSD Chart Analysis: Aussie Sellers Move to Retake Control

Posted: 01 Jul 2019 08:30 PM PDT

The Australian Dollar may have capped the upswing from mid-June lows, with sellers poised to resume the dominant downtrend and eyeing decade lows.

Reserve Bank of Australia (RBA) Rate Cut to Rattle AUDUSD Rebound

Posted: 01 Jul 2019 08:30 PM PDT

The RBA meeting may rattle the recent rebound in AUDUSD as the central bank is expected to reduce the official cash rate (OCR) to a fresh record-low of 1.00%.

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

Posted: 01 Jul 2019 07:00 PM PDT

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

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

Posted: 01 Jul 2019 06:09 PM PDT

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.

Gold Prices Susceptible to Larger Pullback as RSI Offers Sell Signal

Posted: 01 Jul 2019 05:30 PM PDT

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.

EURUSD Downtrend May Hasten as USTR Proposes $4 Billion EU Tariffs

Posted: 01 Jul 2019 04:00 PM PDT

EURUSD may extend losses after the USTR proposed adding $4 billion in tariffs against the EU. Meanwhile, a US-China trade truce fueled USD gains as aggressive Fed rate cut bets cooled.

AUD Currency Volatility: RBA Rate Review Eyed Post G20

Posted: 01 Jul 2019 03:35 PM PDT

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.

Volatility Swoons as Risk Assets Rejoice Trump-Xi G20 Meeting

Posted: 01 Jul 2019 01:20 PM PDT

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?

US Dollar Weakness May Fuel Gold and EURUSD Gains

Posted: 01 Jul 2019 12:22 PM PDT

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.

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

Posted: 01 Jul 2019 11:45 AM PDT

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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