The growth-linked Australian Dollar lost some ground despite a rising S&P 500 as the US Dollar received a boost from rising Treasury yields. This dynamic remains important to watch ahead.
The Indian Rupee rose as the Nifty 50 slightly fell after the RBI left benchmark rates unchanged despite recent weakening inflation and a massive fiscal spending plan. Will USD/INR bounce?
Canadian Dollar Outlook: USD/CAD Levels to Watch Ahead of Jobs, NFP Data 2021-02-04 03:30:00 Daniel Dubrovsky, Strategist
Canadian Dollar, USD/CAD, CAD Index, Jobs Report, Treasury Yields – Analyst Pick
Canadian Dollar eyeing local and neighboring jobs report
USD/CAD remains glued to range-bound price action
What are levels to watch for broader trend developments?
The Canadian Dollar has been struggling to find further momentum against the anti-risk US Dollar as of late. A closer look reveals that despite recent consolidation, the broader uptrend in CAD remains intact. This is ahead of key data this week that may drive volatility in both the Loonie and Greenback. Jobs data are due from the US and Canada, offering further clues about the pace of economic recovery from Covid-19.
US Dollar Technical Outlook: USD/SGD, USD/THB, USD/PHP, USD/IDR 2021-02-04 06:00:00 Daniel Dubrovsky, Strategist
US Dollar, USD/SGD, USD/THB, USD/PHP, USD/IDR – ASEAN Technical Analysis
US Dollar is attempting to push higher against ASEAN currencies
USD/SGD, USD/THB, USD/PHP, USD/IDR eyeing key resistance
Confirming breakouts may mean broader gains on the horizon
Singapore Dollar Technical Outlook
The US Dollar is pressuring the Singapore Dollar as USD/SGD attempts to breach Ascending Triangle resistance at 1.3336. A breakout above this chart pattern could open the door to extending gains towards the 1.3410 inflection point. The pair is also pressuring the long-term falling trendline from late March 2020. However, beyond these points also sits a falling zone of resistance from June which could reinstate the focus to the downside. Downtrend resumption entails a fall through the January low at 1.3158.
S&P 500, Dow Jones, AUD/USD Forecast: Retail Trading Signals Analyzed 2021-02-03 03:30:00 Daniel Dubrovsky, Strategist
S&P 500, Dow Jones, AUD/USD, Technical Analysis, Retail Trader Positioning - Talking Points
This follows bounces from rising support from late-March 2020
AUD/USD risks extending losses, keep eyes on the 50-day SMA
In this week’s session on IG Client Sentiment (IGCS), I discussed the outlook for the S&P 500, Dow Jones and Australian Dollar. IGCS is typically a contrarian indicator. For further analysis of where these may go, alongside commentary on the Euro and New Zealand Dollar, check out the recording above.