Dollar, Gold, Equities 3Q Forecast Involves Reversal Threats, Destabilizing Themes
The US Dollar was heading into the second half of 2019 in an uncomfortable state of uncertainty and it seems the technical boundaries are starting to come under existential strain.
Sterling (GBP) is likely to become more volatile as the clock ticks down to the latest Brexit deadline - October 31st.
Global shares rebounded in the first quarter as dovish monetary policy was able to overcome global growth concerns and US-China trade war fears were reduced by the prospects of a deal.
Gold took out the 2014 high ($1392) after the Federal Reserve altered the forward guidance for monetary policy.
Crude oil price outlook over the third quarter looks set to be broadly overwhelmed by slowing global GDP growth, yet OPEC+ supply cuts and political risks pose upside risks.
Euro technical positioning looks inconclusive at the mid-year mark as political issues have been a slow burn in Europe over the past several months while the economic growth picture in Europe could be characterized as charitably-mild.
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