S&P 500 Shines in August but Could Face Headwinds in September. Why?
The S&P 500 rises 2.9% in August to mark its seventh consecutive monthly gain, but equities could pull back in September on the prospect of tax hikes and monetary tightening.
Bitcoin Support, Ethereum Breaks Out; Solana and Cardano the Focal Points
Non-fungible tokens continue to drive moves in the crypto space with Solana jumping by 90% in less than a week.
USD/CAD Reverses Ahead of 200-Day SMA as Canada GDP Contracts
USD/CAD appears to have reversed course ahead of the 200-Day SMA (1.2539) as Canada’s GDP report shows an unexpected contraction in the second quarter of 2021.
Gold Price Outlook Mired by Failure to Test August High
The price of gold may consolidate ahead of the US Non-Farm Payrolls (NFP) on tap for later this week amid the failed attempt to test the monthly high ($1832).
US Dollar (DXY) Muted as US Consumer Confidence Drops
US Consumer Confidence drops on Delta concerns. USD muted with focus on more important data.
Eurozone CPI: Euro Core Inflation Beats Estimates, EUR/USD Pushes Higher
Core Inflation for the Eurozone comes in at 1.6% vs the 1.5% forecast. EUR/USD reacts by rising above 1.180.
Market Sentiment Webinar: Long Positions Jump in USD/CAD
Trader confidence in riskier assets such as stocks is rising, at the expense of safe havens such as the US Dollar, yet long positions in USD/CAD have risen sharply over the past week.
Australian Dollar Forecast: Further AUD/USD Upside Facing Hurdles
AUD/USD Shrugging Off Covid and China Concerns, However, Further Upside Faces Hurdles
Canadian Dollar Forecast: USD/CAD Breaking Lower and Testing Trend Support
The recent weakness in the US dollar and the pick-up in oil prices is pushing USD/CAD ever lower with a multi-month supportive trendline now under threat.
British Pound (GBP) Price Outlook: EUR/GBP Primed for Move Higher
While GBP/USD continues to benefit from US Dollar weakness, the EUR/GBP chart shows a symmetrical triangle pattern that could signal another leg upwards.