Crude oil prices and the benchmark S&P 500 index may face increasingly-aggressive selling pressure after they both shattered their respective uptrends. What happens next?
Blogs
AUD/USD Outlook Mired by RSI Sell Signal Ahead of Fed Testimony
AUD/USD may face a larger correction ahead of the Fed testimony in front of Congress as the RSI falls back from overbought territory and offers a textbook sell signal.
US Dollar and Yen Surge as Stocks Crater. APAC Equities, AUD to Follow?
US equity markets plunged and catapulted the anti-risk Japanese Yen and US Dollar higher. AUD and Asia-Pacific stocks now brace for what could be an extended selloff in the region.
Hang Seng Index: Bulls Stumble on Recent Gains as Global Risk Appetite Recedes
The Hang Seng index faces focused political and economic pressure, however, a recent breakdown in risk appetite globally may allow bears to overtake the recent momentum in the index.
US Dollar Rises from the Dead as VIX Soars, Stocks Drop Sharply
The US Dollar attempts to put an end to its downward spiral as the DXY Index and VIX ‘fear-gauge’ surge thanks to returning demand for anti-risk assets fueled by a sharp selloff in stocks.
Gold Price Outlook: Gold Grapples at Fibonacci Resistance…Again
Gold prices have moved back to a key level of Fibonacci resistance following yesterday's FOMC rate decision. Can bulls drive through this time?
Dollar Lifted by Safe Haven Demand – 12 June 2020
In Asian trade on Friday, the US Dollar is being pushed higher along with other safe haven currencies amid growing speculation that a swift recovery is unlikely for the global economy.
Eurozone April industrial production -17.1% vs -18.5% m/m expected
Latest data released by Eurostat – 12 June 2020 – -11.3%; revised to -11.9% – Industrial production WDA -28.0% vs -28.8% y/y expected – Prior -12.9%; revised to -13.5% For bank trade ideas, check out eFX Plus
Equities extend pullback after the sharp decline yesterday
US futures now up by close to 2% on the session The feel-good factor is also seen in Treasuries as 10-year yields are up by 3 bps to 0.70%, helping to keep the yen lower and set to snap four days of gains this week.
Ryanair, EasyJet, British Airways launch legal action against UK government over quarantine rules
The airlines are demanding changes to the government's quarantine rules The UK government had imposed a ruling from 8 June that any traveller will have to self-isolate for two weeks due to the coronavirus outbreak situation and the decision has irked airlines, who are arguing that it is not necessary to do so.