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Daily Market Comment – Stocks tank, dollar roars as inflation shows its teeth

· Dollar comes back fighting, stocks pummeled after US inflation surprise · Traders price in Fed rate hike for next year, but it's still early days · Producer prices coming up today ahead of crucial retail sales tomorrow Inflation wins this round Worries around higher interest rates being on the horizon have returned to torment Wall Street once again after some shockingly strong inflation numbers out of America.

Technical Analysis – WTI oil futures signal uptrend continuation; eyes on 66.60

WTI oil futures for June delivery could not find enough buyers to breach the heavy resistance around 66.60 on Wednesday.

Technical Analysis – AUDUSD plunges in consolidation area

AUDUSD is plunging within a ten-week sideways channel, meeting the Ichimoku cloud and the short-term simple moving averages (SMAs).

Technical Analysis – Gold shapes footing above MAs and 1,800 handle

Gold has somewhat stabilized around the red Tenkan-sen line after its latest rally fell short of the 1,847 barrier.

Gold to sparkle for now, but mind the Fed endgame

Gold prices have staged a mighty recovery in recent weeks. The stars seem to have aligned for the yellow metal, with the Fed set to keep its foot heavy on the liquidity gas even as inflation accelerates over the summer.

US Open Note – Stocks stabilize with US inflation uncertainty, dollar flickers green    

Market retraction pauses; US CPI shocks markets but effects fade    Investors have been patiently awaiting hints from US inflation today on whether the stride of the recovery has somewhat slowed.

EURGBP has come under renewed selling pressure, falling back below its 20- and 40-day simple moving averages (SMAs), remaining slightly above the lower surface of the Ichimoku cloud.

GBPJPY has advanced considerably over the previous couple of days, challenging the 39-month high of 154.00.

Daily Market Comment – Tech selloff takes a breather, US inflation data next

· Inflation and valuation worries hit stocks, but dip in tech is bought · Dollar cannot capitalize on the troubles in equities · US inflation data today could decide if selloff deepens or fades Inflation scare broadens There is no single explanation for the fear that has gripped Wall Street in recent sessions but there are several theories.

Technical Analysis – USDJPY creates bearish correction in near term

USDJPY has reversed back down again after finding resistance at the 109.70 barrier achieved on April 30. Momentum indicators are pointing to a neutral to negative bias in the short term with the RSI just below 50 and the MACD oscillator is flattening near the zero level.

Technical Analysis – NZDUSD prepares for footing or tumble; gains questioned

NZDUSD has deflected off the 0.7306 high and is currently tackling the 0.7239 level, which happens to be the 23.

Technical Analysis – EURCHF eases after a green spike; indicators are mix

EURCHF quickly recovered yesterday's losses after touching an eleven-week low of 1.0921. The rebound helped the currency to surpass the 20- and 40-period simple moving averages (SMAs) on the four-hour chart.

Can US inflation and retail sales data rescue the dollar? – Forex News Preview

It's a huge week for US economic data, with CPI inflation on Wednesday and retail sales on Friday. Following the shockingly disappointing jobs numbers lately, there's less pressure on the Fed to scale back its QE program anytime soon, so the summer months could be difficult for the dollar.

US Open Note – Stocks slip and yields muted; dollar takes back seat as inflation fears remain

Stocks in the red and dollar’s might curbed as yields steady The major US indices have pulled back from their highs with the Nasdaq 100 slipping 2.

WTI oil futures for June delivery flipped back to the 64.00 area following the rejection near the 65.70 resistance, crossing below the shorter-term moving averages (SMAs) and inside the Ichimoku cloud.

USDCAD is moving sideways in the 4-hour chart above the more-than-three-and-a-half-year low of 1.2078, testing the 1.

Daily Market Comment – Tech shares blasted, dollar drifts amid inflation scare

· Stocks slip as traders cut exposure to tech and pre-profit companies · Dollar unable to capitalize on the risk aversion amid inflation worries · Cable stabilizes after sprint higher, Fed speakers in focus today Dash for value continues Wall Street came under pressure at the start of the new week as the rotation away from growth and tech stocks escalated.

Technical Analysis – GBPUSD makes new bullish plans within channel

GBPUSD extended Friday’s bullish run to a 2½-month high of 1.4157 on Monday but finished the day slightly lower around the closing price from the end of February at 1.

Technical Analysis – EURJPY climbs as negative pressures seem non-existent

EURJPY has plotted a minor pullback from its freshly achieved 31½-month high of 132.52, but the ripple effect from this development clearly lacks the force necessary to jolt the six-month hike from the 121.

Technical Analysis – US 500 index sustains steady hike into uncharted waters

The US 500 stock index (Cash) has registered a fresh all-time high of 4,244 and is maintaining its’ decisive bullish tone, which is being shielded by the Ichimoku lines.

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