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  • Major investment bank models have touted USD selling, given the outperformance in US equities relative to its counterparts over the past month. How is this likely to impact the month-end rebalancing? Find out from @JMcQueenFX here:https://t.co/MtNrHmXZpD https://t.co/YvoHlUsdVr
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/X15k6b4ZyB
  • The month of May saw equities rise across the board. The #Dow Jones and #DAX 30 will look to hold above nearby support while the #Nasdaq 100 may look to attack all-time highs. Get your #equities market update from @PeterHanksFX here: https://t.co/dQxkG68R0I https://t.co/cgfcOs14qG
  • There is a dramatic departure between yield curve pricing for a recession and other measures of near-term growth; the Q2’20 Atlanta Fed GDPNow is extremely alarming.Get your market update from @CVecchioFX here: https://t.co/eMd3T8EwDO https://t.co/56oUP6we9U
  • The #DAX has now closed the gap from the beginning of March with the index breaking above 61.8% fib at 11592. Get your DAX market update from @JMcQueenFX here: https://t.co/wr67nkxc8z https://t.co/CkxPZn1v3t
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/9CV6iZt40j
  • My weekend trading video: 'S&P 500 Rises on Trump China Presser, #NFPs and Rate Decisions Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/30/SP-500-Rises-on-Trump-China-Presser-NFPs-and-Rate-Decisions-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/ZvoGoibzj1
  • Hopes are high for deeper European economic integration as the continent battles back from the coronavirus slowdowns – but will it hold? What impact can this have on #Euro? Find out from @JStanleyFX here: https://t.co/b9ZWRd4cTr https://t.co/gngm5tKqjz
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/iL7xlHLBiF
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/B4MVrg8f6i
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The haven-linked US Dollar tumbled this past week, averaging its sharpest decline against a basket of its major counterparts since at least 1986. This is as Wall Street bounced with the Dow Jones and S&P 500 rallying the most over 5 days since 1974 and 2009 respectively. Anti-fiat gold prices also climbed, surging the most last week since 2008. Emerging market capital outflows cooled.

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The backdrop for this improvement in market sentiment during the coronavirus outbreak has been aggressive stimulus measures undertaken by not just the US, but also countries globally. Focusing on the former, the Federal Reserve introduced open-ended quantitative easing as the government worked together to pass a US$2 trillion virus relief bill to cushion the impact of the virus.

Going forward, markets will have to weigh stimulus against incoming data that will continue revealing the severity global growth is facing. The Euro has employment figures from Germany to watch as the United States releases March’s non-farm payrolls report. This follows a record rise in jobless claims. As April gets going, estimates point to the worst contraction in NFPs since 2010.

Before the coronavirus outbreak, global growth slowed over the past few years amid the US-China trade war. All eyes were on the world’s largest economy as it relatively outperformed. Now it holds the most cases of COVID-19, surpassing Italy and China. The longer the country embraces social isolation measures, the more consumption (2/3 of GDP) may weigh on domestic and international growth.

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Fundamental Forecasts:

US Dollar May Rise if ISM, NFP and PMI Data Spurs Haven Demand

The US Dollar could rise if key ISM, PMI and nonfarm payrolls data causes recession fears to swell and rekindles appetite for the haven-linked Greenback.

Australian Dollar Boosted By Stimulus Hope, Coronavirus Stays in Charge

The Australian Dollar has been lifted from its multi-year lows by hopes that global financial authorities can fend of the worst of the coronavirus‘ effects. The economic data are dire though, and likely to remain so.

USD/MXN Outlook: Debt Rating Downgrade May Bring Further Weakness for the Peso

The Mexican Peso has managed to recover some ground against the US Dollar as risk-appetite resumes

Dow Jones and FTSE 100 Forecasts for the Week Ahead

Dow Jones posting a bear market rally? Federal Reserve provides balloons balance sheet. Eyes on further government measures.

Euro Forecast: More Gains on Way for EUR/USD, EUR/JPY, EUR/CHF?

The Euro was surprisingly firm last week against a range of other major currencies, suggesting resilience in the face of poor economic data and a lack of confidence.

Technical Forecasts:

US Dollar Correction in Play amid Failed Attempt to Test 2017 High

The US Dollar index (DXY) may exhibit a bullish behavior over the remainder of the month as long as the Relative Strength Index (RSI) holds in overbought territory.

Japanese Yen (JPY) Outlook: USD/JPY Poised For a Breakout

The ‘V-shaped’ recovery in USD/JPY just failed to hit its target and is now moving lower again. Important support is now being tested.

Oil Price Outlook: Crude Collapses into Downtrend Support / 18yr Low

Oil prices have plummeted nearly 70% off the yearly highs with crude testing technical downtrend support. Here are the levels that matter on the WTI weekly chart.

British Pound Technical Forecast: GBP/USD, GBP/JPY, EUR/GBP

It was a big week for GBP/USD as Cable crushed shorts, rallying more than 1,000 pips off of last week’s lows.

Gold Price Outlook Hinges on 2013 High After Best Week Since 2008

Gold prices surged in the best week since 2008, but it has yet to surpass peaks from 2013. If XAU/USD can clear resistance next week, the yellow metal could set course for 2012 highs.

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