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A decent start to the week for risk, though with the Dow just below its record high and ASX near an options cluster - bulls may want to tread with caution around the current daily highs.
Nasdaq 100 Leads Wall Street Rebound as Middle East Peace Boosts Risk forex.com/en-us/news-and-ana…
The Australian dollar dipped its toe into the upper 60s last week, although for now it is not ready to commit to a break below 70c.
I still think a move to 69c is in order, but whether it is via direct losses or an interim bounce is likely down to how far policy expectations divergence between the RBA and Fed this week.
I doubt RBA have the appetite to signal the end of their hiking cycle (even though many suspect the have) - therefore a hawkish hike could be in order.
As what the RBA could do vs what they actually do aren't always aligned.
Peace deal headlines continue to be farcical so not really on my radar tbh.
Australian Dollar Outlook: AUD/USD Finds Stability Ahead of RBA, FOMC forex.com/en-us/news-and-ana…
📈📉DAILY MARKET VIDEO📈📉
🇮🇷 US & Iran make significant steps toward MoU to end war, reopen Hormuz
🚀 SpaceX set to open near $175, 30% from IPO price
🛢️ WTI Crude Oil falls to near post-war lows in the low-$80s - see the next levels to watch! 👇
#DAX formed key bullish reversal amid US-Iran optimism - but when will a deal be actually signed?
Everything you need to know 👉 forex.com/en-us/news-and-ana…
EUR/USD is pointing higher for now, but I'm not convinced it will last - as that assumes an actual deal to get over the line in the Middle East.
EUR/JPY looks interesting for a potential swing high, though it is down to MOF/BOJ as to how deep it could retrace, or if it does at all.
Solid rally on EUR/AUD needs a slight pullback ahead of its next leg high.
Euro Technical Analysis: EUR/USD, EUR/JPY, EUR/AUD forex.com/en-us/news-and-ana…
Middle East peace hopes sparked a broad risk-on rally across financial markets, lifting equities and metals while weighing on the US dollar. The shift in sentiment pushed USD/JPY below the key 160 level and helped AUD/JPY rebound from support, although both moves remain highly dependent on whether a formal peace agreement ultimately materialises.
Japanese Yen Outlook: Middle East Peace Hopes Sink USD/JPY, Lift AUD/JPY forex.com/en-us/news-and-ana…
Friday could be a market mover. 📊
PPI, Retail Sales, and Consumer Sentiment all hit before the open, offering fresh clues on inflation, spending, and confidence ahead of the Fed's June 16-17 meeting.
Expect volatility across USD pairs.
📈📉DAILY MARKET VIDEO📈📉
🇮🇷 Iran (re)closes the Strait of Hormuz, markets shrug
🤔 The ECB delivered the expected 25bps "insurance" hike, $EURUSD flat
🇨🇦 Will the $SPCX IPO kick off a liquidity drain in big tech stocks? 👇
Quiet markets might not be the most exciting, but for some traders, they provide all the opportunity needed. While many chase the high of a volatile range, there is value in finding the right 20 to 30 pip move over the course of a day.
Markets attempt to stabilise as oil retreats from overnight highs. But inflation and valuation concerns persist, among other risks
Everything you need to know 👉 forex.com/en-us/news-and-ana…#SPX500 has suffered some technical damage this week, meaning short-term path of least resistance still likely to the downside despite the bounce.
Gold has fallen over 10% already this month. Given it's only exceeded that once this century, short bets are falling and we have a big fat 4,000 support level nearby - the path of least resistance could now be higher.
Gold Plunges Beyond Seasonal Expectations, Yet Bearish Bets Are Falling forex.com/en-us/news-and-ana…
AUD/USD is back below 70c, and there is a strong case for a move to 69c at a minimum. That said, there is a decent cluster of technical support around current levels - something bears may want to fact in before chasing yesterday's move at the lows.
Australian Dollar Outlook: AUD/USD Cracks 70c, Options Signal More Pain forex.com/en-us/news-and-ana…