9 July: Trend table outlook for FX, Commodities, Indices

It has been a rather uninspiring session for FX traders and it would seem likely to remain so, at least until the US session, when Fed Chair Powell testifies to Congress, although the US$ does seem set to retain its mildly bid tone given that the short term charts generally look supportive. Further losses in the stock markets… Read More »

8 July: Trend table outlook for FX, Commodities, Indices

Friday’s US jobs data was a good was a good result for the dollar, which headed higher; and from the look of the daily DXY chart it has further upside potential in the sessions ahead. As a result of this, commodities are back under some downside pressure although both Gold/Silver finished well off their lows. WTI was up… Read More »

5 July: Trend table outlook for FX, Commodities, Indices

Thursday has been very quiet because of the US holiday and will probably remain so until the release of the US Jobs/NFP/Average Hourly Earnings data. The FX markets are all flat in the short term charts, while stocks still look constructive and seem likely to see further blue sky as they make new all-time highs. A low NFP… Read More »

4 July: Trend table outlook for FX, Commodities, Indices

Wednesday has been another mixed session for the FX markets, with strength in Aud and Nzd being the main themes against both the US$ and on the crosses. It looks as if this might continue through today, with the charts looking supportive of both currencies, although it seems likely to be a quiet one as we head into… Read More »

3 July: Trend table outlook for FX, Commodities, Indices

Tuesday has been a mixed session for the FX markets, with Yen strength and Sterling weakness the main themes. The major moves of the day were seen in Gold (up) and Oil (down). I suspect that it will mostly be a choppy one today as we head into the US holiday on Thursday, and that position squaring will… Read More »