The trading week has come to an end and a lack of direction around the yen remains evident in the short term. This can be seen in the performance of USD/JPY over the last three trading sessions, where the pair has recorded moves of barely 0.3%, highlighting a market that continues to develop within a broadly neutral environment.
Gold is attempting to break out after a brutal selloff, just as the US dollar and Treasury futures show signs of turning. Historical extremes, shifting momentum and key technical levels suggest a potentially important moment for gold traders.
The yen has reacted to falling US yields, but the euro faces a different problem. Could French government bond yields provide the additional push needed to break EUR/USD's downtrend?
Recent trading sessions have begun to highlight a clear lack of direction around Dow Jones price action. This can be seen in the performance of the last three sessions, where the index has posted a modest decline of approximately 0.2%, reflecting the absence of a consistent directional bias and a growing sense of caution across the market.
You may never trade a Treasury bond, but if you trade the US dollar, gold, or stock indices, US Treasury auctions are worth understanding - read on for everything you need to know!
As the trading week comes to an end, weakness around gold price action remains evident in the short term. This can be seen in the performance of the past two sessions, where the metal has declined by approximately 0.3%. Although the move has not been particularly aggressive, it highlights that buying pressure continues to struggle to regain control of the market.
USD/CHF reverses from channel resistance as bond volatility surges and broad Swiss franc strength points to a possible carry-trade unwind.
The Canadian dollar continues to face one of its most challenging environments in recent months when it comes to maintaining strength against the U.S. dollar. The weakness of the Canadian currency is clearly reflected in USD/CAD, which has now recorded nine consecutive bullish sessions and gained more than 1.7% during that period.
US yields, dollar strength and fading RBA hike bets have combined to drive AUD/USD to fresh multi-month lows. The macro and technical bias remains bearish, although history suggests parts of the move are now reaching unusually stretched levels.
The start of the trading week has not been particularly favorable for gold. This can be seen in recent XAU/USD price action, with the metal falling nearly 4.00% over the last two trading sessions and bringing renewed attention to a bearish bias within the market.
Gold is getting hammered for solid fundamental reasons, but history suggests extreme four-hourly oversold conditions can produce violent countertrend rallies.
Crude oil is setting the tone across rates and FX, leaving EUR/USD vulnerable and USD/JPY caught between higher Treasury yields and the growing threat of intervention
A stronger dollar, surging front-end yields and renewed geopolitical tension have combined to push gold back towards key technical support.
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