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  • Last week's gold report...' $1,743/oz. may prove temporary support ahead of $1,700/oz big figure support and ahead of the 61.8% Fibonacci retracement at $1,689.7/oz.' #gold https://www.dailyfx.com/forex/market_alert/2021/02/26/Gold-Price-XAUUSD-Outlook-Treading-on-Thin-Ice-as-US-Treasury-Yields-Heat-Up.html
  • The February rally in $WTI Crude Oil has struggled to continue in March. After rising from 52.00 at the beginning of February to a high above 63.00, WTI has edged back downwards. The commodity has recently consolidated between the 59.00 and 61.00 levels. $OIL $USO https://t.co/NzJZIvgkQn
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  • Heads Up:🇺🇸 ISM Non-Manufacturing PMI (FEB) due at 15:00 GMT (15min) Expected: 58.7 Previous: 58.7 https://www.dailyfx.com/economic-calendar#2021-03-03
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  • Heads Up:💶 ECB Guindos Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-03
  • Gilt yields on the rise as DMO issuance in 2021/2 jumps to GBP296 billion, busting estimates of GBP250 billion #gilts #DMO https://t.co/D6i9U4mU5c
  • $Gold back at the lows, breaching below the 38.2 of the 18-20 major move. This thing hasn't been able to hold a bid at all of late, looks like a lot of those flows going over to $btc or other related cryptos next support from that structure around 1618 https://t.co/b0pin7SPS3 https://t.co/TL5elY25Qk
  • Bitcoin (BTC/USD) back above $51,000 and pushing higher.. Ethereum (ETH/USD) bounces off support, back above $1,600.Get your market update from @nickcawley1 here:https://t.co/mHKN4lR0ly https://t.co/gndpyc9E3G
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.18% Germany 30: 0.04% France 40: 0.01% Wall Street: -0.08% US 500: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bHCy3vGQVM
Video: Can the Dollar and S&P 500 Collapse at the Same Time?

Video: Can the Dollar and S&P 500 Collapse at the Same Time?

John Kicklighter, Chief Strategist

Talking Points:

• Both the US Dollar and S&P 500 have advanced over the months, and now both threaten near-term reversal

• The positive relationship is unusual for a 'safe haven' currency and 'high return' asset class

• While both could continue to rise in tandem, is it possible they both collapse together?

See the DailyFX Analysts' forecasts for the Dollar, Euro, Pound and Gold through the 4Q on our DailyFX Trading Guides page.

Many would argue that both the US Dollar and S&P 500 are overbought. While they are extended on different time frames and due to different fundamental circumstances, the technical views both clearly show the risk that each faces should they trip up critical levels. Yet, as each stands once again on its own precipice; we have to think through the fundamental and sentiment-driven scenarios should the market take a next meaningful step. Both have advanced in tandem over the months, so a simultaneous rebound is possible so long as volatility remains in check and US rate forecasts hold up. From there, the alternative scenarios are more interesting and intense - particularly whether they could both collapse at the same time. We discuss the currency - equity benchmark relationship, look at their technical positions and discuss the trading setups for different scenarios in today's Strategy Video.

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