There hasn’t been much of a shift from yesterday other than a bit more US$ strength. The Currency Strength Indicator chart shows how the currencies are converging on the 4hr time frame. The ECB rate update is later today so watch to see how this impacts overall market sentiment.

The US$ is a bit stronger but it pays to remember that the index is still consolidating in a range-bound pattern on low momentum. Gold and the commodity currencies are a bit weaker, due to this US$ strength, BUT momentum is low across many of their 4hr charts as well. This messiness might remain the […]

It has been a quiet start to the week given the US holiday Monday. The RBA meet today and this has the XJO and AUD currency pairs in focus.

Last week: The market landscape of last week was little changed from the week before and Friday’s disappointing US jobs report only helped to continue this theme. The S&P500 and NASDAQ have closed again at new all-time Highs and these two, plus the DJIA, continue to hold above 18-month support trend lines. The miss with […]

The S&P500 and NASDAQ have closed at new Highs ahead of Fridays US jobs report. The US$ remains weak and this helped to develop the breakout moves that were already underway from earlier in the week. Same caveat applies: make sure to manage risk on any open positions into NFP.