Global central bank easing is on its way as the Fed confirms shift towards lowering interest rates. Demand for USD is eroded as US yields edge lower.
Recent changes in sentiment warn that the current Spot Gold price trend may soon reverse higher despite the fact traders remain net-long.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Bitcoin-bearish contrarian trading bias.
The combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.
The Bank of England has failed to please investors who believed the Central Bank’s tone would become more hawkish at the June meeting. Sterling slipped against most major currencies as the UK Q2 growth forecast is downgraded.