The S&P 500, a frequent bellwether for general risk appetite, extended losses into a third consecutive week. The tendency for economic data in the world’s largest economy to surprise higher has been shrinking since the middle of July. Catching a bid lately has been the anti-risk Japanese Yen and to a lesser extent . . . → Read More: Markets Week Ahead: S&P 500, US Dollar, Yen, NZD, RBNZ, Powell Testifies

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Oil Fundamental Forecast: Bearish Saudi Energy Minister’s warning to short-sellers may temporarily underpin crude oil prices. Fading demand and oversupply concerns suggests that the longer-term path for WTI crude oil is lower.

The stern warning from Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman that “I’m . . . → Read More: Crude Oil Prices Vulnerable Amid Fading Demand, Oversupply Concerns

Fundamental Euro Forecast: Bearish It was only a couple of weeks ago that ECB President Christine Lagarde disappointed the Euro bears when she made no mention of the 1.20 level for EUR/USD as being too high for the central bank given its goal of price stability. Nonetheless, rather than climbing back to 1.20 and . . . → Read More: Euro Forecast: EUR/USD Outlook Turns More Bearish After Failure at 1.20

Japanese Yen Talking Points

The Japanese Yen has gained against most of its major counterparts even though the Bank of Japan (BoJ) sticks to its Quantitative and Qualitative Monetary Easing (QQE) with YieldCurve Control program in September, and the funding-currency may continue to appreciate over the remainder of the month as the . . . → Read More: Japanese Yen Exhibits Bullish Behavior as BoJ Braces for Negative CPI

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Nasdaq 100, DAX 30, FTSE 100 Fundamental Forecasts: Bearish Despite an accommodative Fed, the Nasdaq 100 has been a major source of weakness The DAX 30 will closely track risk appetite led by the US indices The FTSE 100 remains vulnerable to Brexit uncertainty, a headwind that has . . . → Read More: Nasdaq 100, DAX 30 & FTSE 100 Forecasts for the Week Ahead

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New Zealand Dollar Fundamental Forecast: Neutral New Zealand Dollar rose after GDP data, Robertson speech NZD/USD could appreciate more on the RBNZ rate decision However, downside potential in S&P 500 may offset increase

Despite a third consecutive week of losses for the S&P 500, a frequent bellwether . . . → Read More: New Zealand Dollar Outlook: NZD/USD May Rise on RBNZ, Watch S&P 500

Copper Prices, Economic Recovery, Chinese Imports – Talking Points Copper bulls drive price to new multi-year high Lackluster US Dollar helping to support prices Market imbalances continue as China drives demand

Copper futures rose to a fresh multi-year high on Friday. The current COMEX futures price shows $3.1070 per pound, with the rally . . . → Read More: Copper Price Forecast: Bulls Push Price to New Multi-Year High

DJI PRICE OUTLOOK: DOW JONES INDUSTRIAL AVERAGE CLAWS BACK LOSSES ON UPBEAT CONSUMER SENTIMENT REPORT Dow Jones pivots higher with the S&P 500 and Nasdaq owing to consumer sentiment data Consumer sentiment data for September showed improvement and topped forecast Stocks attempt to turn positive and claw back recent downside after holding weekly lows . . . → Read More: Dow Jones Tries to Turn Green on Upbeat Consumer Sentiment Data

Central Bank Watch Overview:

The BOC and RBA are likely to stay on hold for the foreseeable future; traders may disregard quirks in the overnight index swaps curves suggesting otherwise in the near-term, given commentary from central bank governors. The RBNZ, on the other hand, seems poised to move into negative interest rate . . . → Read More: Central Bank Watch: BOC, RBA, & RBNZ Rate Expectations; USD/CAD, AUD/USD, & NZD/USD Positioning Update