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Rising yields can usually be associated with a period of risk on. But seeing the 30-year treasury yield rise over 20bp in Asia while Wall Street futures cling on to their cycle lows is anything but usual. In fact, it's a bad omen of things to come.
Matt Simpson, Market Analyst at City Index and Forex.com
We finally saw the shakeout on gold I was expecting around $3000. This clearly changes things for gold traders over the near-term, even though the fundamentals remain in place for bulls. I highlight key levels for gold and take a look at the devastation left across key assets on Thursday.
Matt Simpson, Market Analyst at City Index and Forex.com
The rally of the past two week on the ASX took a turn for the worse on Wednesday, on the warning (and official announcement) of Trump's 25% tariff on non-US cars.
This has seen the ASX get caught in the negative sentiment on Wall Street.
The daily chart shows that momentum has turned lower around a resistance cluster, including the December low, 38.2%...
Volatility has receded with less than 20-hours to go until Trump's tariffs are officially implemented, with traders now clearly in watch-and-wait mode. So while headline risks around tariffs remain in place, moves could remain limited unless traders are treated to any last-minute negotiations.
Typically, risk has benefitted when it has been expected that tariffs...
The RBA held their cash rate at 4.1%, and keep a May cut up in the air without any appetite to commit to one. I highlight my observations on the RBA's statement, before updating my analysis for AUD/USD, AUD/CAD and GBP/AUD.
Matt Simpson, Market Analyst at City Index and Forex.com
USD/CAD closed higher for a fourth day on Monday, on the even of Trump's liberation day. It also accelerated away from its 50-day EMA after establishing support around its 100-day EMA last week.
This has also seen USD/CAD break trend resistance, and a falling wedge pattern now appears to be in play. This suggests an upside target near the 1.4550 cycle...