The Dax has hit a new record high today, and the S&P 500 isn’t too far behind, while the Nikkei 225’s retreat from its peak has paused for now
Daily Technicals
This article delves into the current retail positioning on the euro across three major pairs: EUR/USD, EUR/GBP, and EUR/JPY, while also exploring potential scenarios based on a contrarian approach.
The FTSE 100 has enjoyed a solid start to the week, while even a hotter US inflation reading has not been able to stop the rally in US markets.
While the Dax and S&P 500 are awaiting US inflation data today, the Nikkei 225 continues to retreat from its recent record peak.
The FTSE 100 is edging higher, while US markets find themselves caught between last Friday’s payrolls and tomorrow’s inflation data.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
Outlook on FTSE 100, S&P 500 and Nasdaq 100 ahead of US Non-Farm Payrolls