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  • 🇰🇷 Business Confidence (JUL) Actual: 97 Previous: 98 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.87% 🇨🇦CAD: 0.63% 🇨🇭CHF: 0.43% 🇯🇵JPY: 0.39% 🇪🇺EUR: 0.37% 🇦🇺AUD: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vH1UWZP3Gt
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.22%, while traders in Wall Street are at opposite extremes with 75.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NPtVj3FLsQ
  • Last week’s price action has produced a shooting star formation and yesterday’s FOMC announcement helped to extend the move, driving the USD lower as the Canadian Dollar bounces from its earlier-month lows.Get your market update from @JStanleyFX here:https://t.co/tiqAYlUxA0 https://t.co/xb08I8gwpU
  • Following Amazon's miss on Q2 revenues, Nasdaq 100 futures give back Thursday's gains $AMZN $NDX $NQ https://t.co/63MAFhIjh4
  • I recently had the pleasure of speaking with @chigrl about women in finance, the FinTwit community and trends in the crude oil space Check out the full interview and article - https://www.dailyfx.com/forex/fundamental/article/special_report/2021/07/29/Commodities-Trader-Chigrl-Talks-FinTwit-Women-and-Trading.html
  • Amazon EPS beat expectations at $15.12 versus $12.28 expected, but net sales fells short of expectations. And @PeterHanksFX says the sales forecast is underwhelming. Therefore, it comes as little surprise that $AMZN is trading down over -5% afterhours https://t.co/JXmIbA9mG4
Video: Which Has More to Lose/Gain Between Dollar and SPX?

Video: Which Has More to Lose/Gain Between Dollar and SPX?

John Kicklighter, Chief Strategist

Talking Points:

• Volatility continues to run hot, but the markets are increasingly struggling for direction

• US NFPs data Friday can help decide short-term trend, but only specific outcomes will secure momentum

• Beyond the short-term, the costs and pain of monetary policy are showing through; beware its fallout

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

The S&P 500 (a weathervane for 'risk trends') is leaning on immediate resistance...but on a mature and fundamentally questionable bull trend. Meanwhile, USDollar is pressuring the floor of a clear rising trend channel after a seven-month consecutive climb...though its fundamental bearings remain heavily supportive of further progress into the future. We need to consider the medium to long-term fundamental potential behind the markets as we drawn to the exciting short-term technical setups ahead of key event risk: the United States' January employment data. The potential is clear in the charts, but follow through may not come readily in those scenarios that trigger the clean technical patterns. We run down the market's positioning ahead of NFPs as well as the growing distortions from extraordinary monetary policy in today's Trading Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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