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Another decent employment set supported oil prices overnight, seeing WTI probe 70 resistance ahead of today’s Nonfarm payroll report.

If rising prices on lower volumes were of no concern to S&P 500 bulls, then yesterday’s bearish engulfing candle on high volume just might be.

Positive vaccine news helped lift Wall Street higher and send the dollar lower, providing a boost for commodities such as gold and oil.

The US dollar index (DXY) is holding above trend support after the ECB meeting. Despite this, the CRB commodities index is considering a breakout.

Yesterday’s rally broke the Nasdaq’s 4-day losing streak, yet it remains too soon to confirm whether its correction from its record high is complete.

The Nasdaq 100 printed a bearish engulfing week. The last time that occurred was in February and marked the beginning of a -12% retracement.

US indices have stumbled at their record highs, leaving the potential for a corrective phase. We also look at CAD/JPY ahead of today’s BOC meeting.

Tesla (TSLA) prices are making another attempt at reverting to the long-term bullish trend, whilst gold remains stuck in a $30 range ahead of today’s CPI report.

Despite the stronger dollar, gold held its own and rose above a key support level to suggest near-term strength could be on the cards.

The US dollar is finally showing signs of reverting to its pre-FOMC bullish move. And its overall trend structure suggests it could now break to new highs.

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Platinum futures rallied each day last week, yet with a cluster of resistance nearby we’re on the lookout for a swing high to form.

Silver (like gold) has failed to capitalise on the dollars correction, so if USD rises silver is a prime candidate for another leg lower.

Volatility remained elevated on Friday across all major asset classes, pushing gold and equities firmly lower.

The stronger dollar and more-hawkish-than-expected FOMC meeting finally saw bearish momentum force platinum prices aggressively lower. But will it continue in a straight line?

Bears have been steadily increasing short exposure to copper futures this year, and the recent change of the macro backdrop may well prove them to be right.

Markets are in wait and see mode as traders wait for the outcome of today’s FOMC meeting, with the dollar in the crosshairs of volatility.