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US Equities Extend Record Run Into July 4th Festivities
Stocks feeling good into the 4th. Currencies put in a mixed performance against the Dollar. US 10-year Treasury yields to the lowest level since November 2016.
USD/JPY – Confined To Well Defined Downtrend
The longer-term downtrend remains firmly intact, with the major pair gravitating back towards a retest of major support in the form of the 2018 and 2019 lows respectively, down in the 104s.
BTC/USD – Into Period Of Correction And Consolidation
The market has enjoyed a nice run since breaking out above a consolidation between Q4 2018 and Q1 2019, though the rally has resulted in extended technical readings after racing through 10K psychological barrier.
EURUSD – Looking For Dips To Be Well Supported
The major pair has extended its run of declines off the 2008 high, trading down to a fresh multi-month low in May. But with the downtrend looking exhausted, the prospect for a meaningful higher low is more compelling.
Currencies More Sensitive To Fundamentals Than Stocks
We come into Wednesday with the US Dollar giving back gains from the weekly open, that had been fueled by optimism around the news of renewed trade talks between the US and China.
Fading Dollar Momentum No Help To Ailing Pound
The US Dollar wasn't grooving like it did on Monday, the Pound extended declines, stocks consolidated.
Global Markets Under The Microscope
The US Dollar is rallying and stocks have just run up to another record high. Should we expect these trends to keep on truckin? We don't believe so. Here's why.
Risk On Rally Lacks Bite
Risk is back on into the new week, with S&P500 futures already running to fresh record highs, as investors respond to the news of the ceasefire between the US and China. At the same time, the rally is already struggling to sustain itself.
US Dollar Fights Back Against Major Currencies
Overall, the US Dollar remains under pressure, despite attempts this week into Friday, to hold up against the other majors. The commodity currencies have extended their run against the Buck, despite lack of enthusiasm in the major currencies.
Commodity Currencies Hold Up Despite Risk-Off Flow
The most interesting aspect about price action in financial markets this week, if we’re not talking about the demand for Bitcoin, is the ongoing bid in risk-correlated currencies like Aussie, Kiwi and CAD, despite profit-taking in equities markets.
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