For the 7th consecutive week, the Dollar Index finished in the green closing above 104 to show strong support, the question is will the DXY hit 105?
Jonathan and Rory both discuss their thoughts on dollar going into a quieter week than usual for economic data however the market will only be gearing up for what’s to come next week as the US CPI is due to be released. A hawkish release could see another strong dollar and the push to 105 whereas a dovish release could see DXY fall lower.
In Indices, US markets were closed on Monday following the labor day holiday. European indices had a strong start to the day but later in the session fell-off due to stronger efforts from China to support the property sector faded.
Jonathan talks about his views on GBPUSD, AUDUSD & USDJPY with his predispositions being short on both GBPUSD & AUDUSD pairs, as he is still bullish on Dollar. Both pairs are stuck in somewhat of a range but Jonathan thinks especially Euro has further to fall. Jonathan also believes there's further upside potential for USDJPY. Ones to watch!
The Blokes then offer their views on Gold & Oil. Both Rory & Jonathan agree that Gold upside maybe limited due to Dollar strength, whereas Oil has potential for further upside.
Jonathan also mentions how September can be a bearish month for stocks with negative returns so buying stocks may not be the perfect time according to past data. However he does mention, retail traders are not limited as most CFD products allow traders to short and still profit from the move.
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