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USDX remains in a strong uptrend after rallying to a 13-month high near 101.50, supported by sustained positioning above the 20-, 50- and 200-day SMAs. However, recent price action shows signs of stalling, with the index easing back toward the 101.00 area and extending a two-session pullback from recent highs
Newsquawk Daily US Opening News – 26th June 202
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US President Trump said we have a new market coming up called Iran and added that Iran wants to make a deal with us very badly and thinks they will make a deal.
US equity futures are softer, with the NQ underperforming after further tech selloff in South Korea.
DXY continues to pull back but remains firmly above the 100.00 handle; G10s are broadly firmer with the EUR outperforming.
Fixed income benchmarks are off best levels as the haven bid returns to bonds.
Energy benchmarks continue to fall despite the recent strike on the Singapore cargo ship.
Looking ahead, highlights include US Goods Trade Balance Advance (May), Wholesale Inventories (May), UoM Sentiment Final (Jun), Speakers including Kashkari, ECB’s Vujcic, RBNZ’s Bremen and Norges Bank’s Bache.
Market Update: XAUUSD vs BTCUSD
XAUUSD: Consolidating and to state the obvious, 4000 will dictate whether low is in or if this is just a breather. Note lower US bond yields giving XAUUSD some support.
BTCUSD: New line in the sand at 58K after stops run below 59K. Back above 59-60K would be needed to cool the risk.
XAUUSD BTCUSD
Crude oIL TICKS UP… SO FAR LITTLE CORRELATION ELSEWHERE
“The meeting between Lebanon and Israel reached a dead end due to the issue of withdrawal from the south [of Lebanon]”, Al Arabiya reports citing a source
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