News & analysis

U.S. stocks are mixed ahead of the open on Tuesday, with tech stocks leading the decline as investors also weigh bank earnings.

Amid a lack of any major news, the FX markets have been largely in consolidation mode in the first half of Tuesday’s session. The US dollar eased along with bond yields and oil prices, allowing downbeat currencies like the euro to rebound modestly. With US CPI data due for release on Wednesday, don’t expect much in the way of a sharper decline in USD ahead of it. If anything, we could see the dollar buying resume, especially if crude oil prices catch a bid again amid the ongoing situation.

The DAX continues to recover from last week's sell-off, supported by easing energy concerns and improving short-term momentum. While buyers have regained control of the four-hour trend, the index is now approaching a critical resistance zone between 25,450 and 25,600. A decisive break higher would strengthen the bullish case and open the door toward 25,800, while failure at resistance could quickly revive downside pressure.

GBP/USD rises amid a weaker USD, but gains could be limited. Gold rises as Oil, Treasury yields slip, central bank buying remains strong.

Bitcoin has bounced aggressively after another test of its 50-day moving average, but tech futures remain under pressure. With equity correlations strengthening and bearish momentum building, can BTC/USD sustain the recovery?

GBP/AUD is forming a potential bullish continuation pattern, with RBA minutes, Australian unemployment and Bank of England commentary among the catalysts that could spark a breakout.

EUR/USD is trading at 17-month lows near 1.1160 as political developments in Germany and Spain inject uncertainty into the euro’s outlook - where is the next support ahead of US CPI?

The dual intervention was more than two months ago and since we’ve heard multiple comments from both the US and Japan to try to guide the USD/JPY spot rate lower. Markets appear to be calling that bluff.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

Silver prices have been more than halved since the January high but last week saw a key trendline come into play as bulls grasp to hold the $60 handle for the metal.

News over the weekend, including continued Houthi strikes in Riyadh has had negative impact on foreign currencies so far, especially those where the economy relies on energy imports. The EUR/USD is particularly vulnerable as lingering concerns over French fiscal policy continue to undermine the euro.

U.S. stocks are subdued on Monday as investors weigh oil prices and geopolitical developments, while looking cautiously ahead to Q3 bank earnings and inflation data later in the week.