Every Tuesday, Pepperstone's Global Macro Strategist Luke Suddards will be analyzing the charts of key global asset classes such as FX, commodities and more.
This week, he starts with a look at the dollar and whether its recent pullback from highs will see follow-through after reports that a 100 basis point hike from the Fed is off the table. Luke then moves to the EUR/USD - where an ECB decision and direction is due this week, while political crosswinds from Italy and Germany weigh on the Euro. The GBP/USD got a boost from strong employment data, and Luke walks through the outlook there. The fx section ends with a look at the USD/JPY and AUD/USD pairs.
Luke then looks at Gold Futures and the potential of a bounce from an oversold level amidst rising real yields that put pressure on the yellow metal. He concludes with a study of Brent oil, where a bit of a bounce seems to be playing out.
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