
Australian Dollar Outlook: AUD/USD Bears to Face Near-Term Reprieve?
AUD/USD enters the week after four straight declines, but softer Fed expectations, stretched positioning and support could slow the selloff.

AUD/USD enters the week after four straight declines, but softer Fed expectations, stretched positioning and support could slow the selloff.

Crude Oil Weekly Outlook: The bearish-to-neutral setup holds as OPEC keeps November quotas steady, Gulf exports recover to near prewar levels, US crude inventories continue to rise gradually, and prices remain below a seven-month barrier.

Gold started last week with a strong sell-off but from that move a bounce developed. Bulls could not hold on through the weekly close, however, and the bearish structure remains in-place for XAU/USD.

USD/JPY’s tight relationship with front-end US rates broke down sharply last week, but quarter-turn flows and positioning suggest the disconnect may prove temporary.

Earnings this week come from PepsiCo, Delta Airlines & Constellation Brands.

As the trading week comes to an end, weakness around gold price action remains evident in the short term. This can be seen in the performance of the past two sessions, where the metal has declined by approximately 0.3%. Although the move has not been particularly aggressive, it highlights that buying pressure continues to struggle to regain control of the market.

USD/CAD recovered quickly after weaker US jobs data, keeping the bullish trend in focus. A move above the June highs could accelerate the rally as inflation keeps the Fed under pressure.

Well, it was a week of USD strength that wasn’t entirely pushed by USD/JPY, as a strong sell-off in EUR/USD has pushed the major pair to its most oversold state in a decade.

The Dow Jones support breakdown shows rising bond yields and rate hike bets hitting U.S. stocks while tech giants prop up the Nasdaq.

U.S. stocks are rising after weaker-than-expected U.S. jobs data saw markets rein in rate hike expectations.

The EUR/USD has tagged a fresh year-to-date low as French public-finance concerns trigger a government bond sell-off. Today's US jobs report may change little, with resilient activity, elevated energy prices and hawkish Fed bets keeping the greenback supported. With the pair trapped below resistance at 1.1410, the risk to the near-term EUR/USD forecast is tilted to the downside.

U.S. 10-year Treasury yields are nearing a long-term resistance zone with overbought RSI readings, raising near-term pullback risk for the dollar.
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