The Federal Reserve have kept rates steady and the markets have responded in a ‘just keep going’ mode. The US$ is weaker and the risk-on bias remains in play ahead of Friday’s end of month.

The US$ slide has paused ahead of today’s FOMC and the index is currently shaping up with an indecision Spinning Top daily candle. Gold has pushed a bit higher but most other instruments are little changed in the wait for the US rate update and comments from the US Fed Chair as well as for […]

Last week: There was a multitude of trend line breakouts last week and many of these resulted from the weaker US$; something I had warned about two weeks back in my FX Index update. There was a risk-on mood to start the week on the back of positive Covid-19 vaccine news but developing US-China tension […]

This is just a quick update. Gold has reached up near $1,900 and this is major S/R zone for the metal so watch for any potential pause / consolidation here.

Markets have started the week in risk-on mode on the back of positive news about Covid vaccine development. The US$ has weakened which helped to trigger some currency pair breakout moves. There could be more to come so keep watch for any further momentum breakouts.