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S&P 500, Nasdaq Week Ahead: Tesla Drives US Stocks into a New Bull Market

June 10, 2023

Tesla’s deal with GM had the stock trading up 4.5% in the pre-market, powering the index into a new bull market. FOMC rate meeting and …

Forecasts

Euro Forecast: EUR/USD on Thin Ice Before Fed Decision, ECB Unlikely to Tip Scales

June 10, 2023

US inflation data, the Fed’s interest rate decision and the ECB’s monetary policy announcement will take center stage next week and guide the EUR/USD’s near-term …

Forecasts

Australian Dollar Outlook: The RBA Delivers, Will the Fed?

June 9, 2023

The Australian Dollar continued to recover going into the end of last week after the surprise hike by RBA. The Federal Reserve now moves into …

Analyst Picks

S&P 500 Challenges Major Resistance as RSI Nears Overbought Zone, Fed Looms

June 9, 2023

The S&P 500 is approaching a technical resistance zone while the RSI indicator is starting to flirt with overbought territory, two developments that could set …

Sentiment

EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since May 11, 2023 when EUR/USD traded near 1.09.

June 9, 2023

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bullish contrarian trading …

Sentiment

AUD/USD IG Client Sentiment: Our data shows traders are now net-short AUD/USD for the first time since May 09, 2023 when AUD/USD traded near 0.68.

June 9, 2023

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/USD-bullish contrarian trading …

Market Outlook - Asian Market

Asia Day Ahead: Wall Street Up Overnight; Sentiment in Extreme-Greed Territory

June 9, 2023

The softer US economic calendar overnight prompted market participants to source for clues on the Fed’s policy path from the US weekly jobless claims.

Cryptocurrency

Binance has suspended US currency deposits – cites SEC law suit

June 9, 2023

Binance USD deposits pause on 13 June 2023 Bitcoin is down on the news, circa USD26400 Binance statement: The SEC has taken to using extremely …

Market Outlook - European Market

Crude Oil Price Bounces Around but is Unable to Break the Range. Where to for WTI?

June 9, 2023

Crude oil prices regained traction going into Friday after testing the downside overnight as potentially more supply coming online before USD tanked. Will the range …

Analyst Picks

Short EUR/GBP: Euro Fundamentals Deteriorate Ahead of Central Bank Decisions

June 8, 2023

Revised GDP data for both Q1 and Q4 ’22 data confirmed a euro zone recession while inflation heads in the right direction – music to …

Market Outlook - European Market

Australian Dollar Holds Ground as Market Looks to the Fed after BoC Hike

June 8, 2023

The Australian Dollar consolidated today after a bumpy ride through the Bank of Canada rate hike along with other currency pairs as the market contemplates …