Has the US Dollar topped? Despite setting a fresh high less than a week ago a steady sell-off has caused many to ask the question.
Any direct connection between gold prices and midterm elections may be spurious, at best.
The performance of US equity markets during a midterm election year does not appear to influence the outcome at the polls, based on data going back to 1946.
Major U.S. stock indices recovered from the day’s lows but ended in negative territory. U.S. Treasury yields and the dollar rose after better-than-expected ISM services PMI data.
Gold and silver prices trade lower on Wednesday, pressured by U.S. dollar strength and a sharp jump in U.S. Treasury rates following better-than-expected U.S. economic data.
Oil prices continue to push higher as OPEC+ agrees to a large production cut. $90/bbl WTI now in sight.
The German Dax has pulled back towards key support after a strong rally drove the index above 12,600. With oil outputs set to fall, the geopolitical backdrop may continue to threaten key support.
U.S. services activity expands for the 28th consecutive month in September, easing less-than-expected, a sign that the economy remains resilient for the Federal Reserve to continue additional hikes.
The Japanese Yen hardly blipped despite a North Korean missile flying overhead and the US Dollar sliding elsewhere to start the week. Where to for USD/JPY?
The dollar sell-off faces sizeable support as upcoming US data (services PMI and NFP) are likely to dictate shott-term direction in USD
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