Page 46 - Christopher Vecchio News Today

US Dollar Forecast: DXY Index Losing Support; USD/JPY Coils into Triangle Advertisement US Dollar Outlook: Rising US Treasury yields aren’t helping the US Dollar as rising inflation pressures are outpacing near-term growth expectations following the April US non-farm payrolls report. The DXY Index is sustaining the loss of its uptrend from its intrayearly swing lows, while USD/JPY rates are in the early stages of funneling into the vertex of a symmetrical triangle. US Dollar Bleeding Continue...

Will Lumber Prices Prick US Housing Bubble or Will Low Mortgage Rates Prevail? Advertisement US Housing Market Outlook: There’s a lot of chatter among market participants about the state of the US housing market, which has seen its strongest run of price growth since 2006 – right before the US housing bubble burst, which helped lead to the Global Financial Crisis. Supply chain issues (e.g. closed sawmills) have helped lift lumber prices to all-time highs, leading to over a $35K increase in ...

Central Bank Watch: BOE & ECB Interest Rate Expectations Update Advertisement Central Bank Watch Overview: The BOE and the ECB won’t meet again for six weeks. Nevertheless, speculation around what they may do next continues to drive markets. Throttling back its QE program is just the beginning of the normalization process for the BOE, while rising inflation pressures may give pause to the ECB when thinking about another easing step. Beginning to Throttle Back In this edition of Central Bank W...

USD/CHF, USD/SEK Lose 2021 Uptrends; USD/NOK Retains Bear Flag Breakout Posture Advertisement US Dollar Outlook: Even though May is the best month of the year for the US Dollar (via the DXY Index) from a seasonal perspective, significant technical weakness has set in after the extremely disappointing April US non-farm payrolls report. Both USD/CHF and USD/SEK have traded below their intrayearly uptrends, while USD/NOK’s bear flag breakout remains on track. Non-Major USD-crosses Still Look Bea...

FX Week Ahead - Top 5 Events: Chinese, German, US Inflation Rates; Banxico Rate Decision; US Retail Sales Advertisement FX Week Ahead Overview: The second week of May sees a global focus in the first half and a North American focus in the second half. US economic data due in the second half of the week doesn’t appear that it will change the hearts and minds of traders after the disappointing April US jobs report. Overall, recent changes in retail trader positioning suggest that the US Dollar ...

Chinese Yuan Technical Analysis: EUR/CNH, USD/CNH Rates Outlook Advertisement Chinese Yuan Outlook: USD/CNH rates have tumbled towards their yearly low, and in the grand scheme of things, the rally seen at the start of 2021 may have been a brief setback before a deeper setback. More weakness in USD/CNH is good for risk appetite, regardless of what’s happening in EUR/CNH. Falling US Treasury yields, higher US equity markets, and surging commodity prices suggest that traders are finding the en...

Weekly Australian Dollar Technical Forecast: Fresh Highs in Sight for AUD/JPY, AUD/USD Technical Forecast for the Australian Dollar: Bullish It may not be the most seasonally friendly time of year for the Australian Dollar, but a prevailing ‘risk-on’ mood in global financial markets is giving a bid to the commodity-linked currency. Both AUD/JPY and AUD/USD rates are breaking higher out of recent consolidations, suggesting that near-term technical structure is bullish. Australian Dollar Rate...

Will Lumber Prices Prick US Housing Bubble or Will Low Mortgage Rates Prevail? Advertisement US Housing Market Outlook: There’s a lot of chatter among market participants about the state of the US housing market, which has seen its strongest run of price growth since 2006 – right before the US housing bubble burst, which helped lead to the Global Financial Crisis. Supply chain issues (e.g. closed sawmills) have helped lift lumber prices to all-time highs, leading to over a $35K increase in ...

Gold Price Forecast: Flag Forms as Double Bottom Breakout Stalls - Levels for XAU/USD Advertisement Gold Price Outlook: Ever since clearing consolidation resistance in mid-April, gold prices have been tediously moving sideways.But gold prices may simply be flagging – in a bull flag, that is – after establishing their double bottom, meaning that more upside may be ahead yet. Seasonality, which was extremely bullish for gold in April, has taken a dramatic turn: May has been one of the worst, ...

Monthly Forex Seasonality - May 2021: Sell in May and Go Away? Not for USD, Stocks Advertisement May FX Seasonality Overview: “Sell in May and go away” is a popular financial euphemism. It also happens to have been complete nonsense in recent years.The US S&P 500 has positive seasonal averages for both 5- and 10-years. April showers bring May flowers? While April has been the worst month of the year for the US Dollar, May has been the best over both the 5- and 10-year lookback periods. The ...