News and analysis

US indices point to a stronger start as corporate earnings continue to roll in. Earnings are providing a welcomed distraction after worries over the Fed keeping rates high for longer hurt sentiment last week. US PMI data is due shortly and is expected to show business activity grew at a faster pace. Tesla is due to report after the close after the EV maker's deliveries fell in Q1 and as the share price trades down 40% this year.

Has gold selling already or nearly done? Gold remains fundamentally supported in the long term, although there is room for further correction. Gold technical analysis shows prices are no longer as overbought as a couple of weeks ago.

FTSE rises to a record high as the GBP struggles around a 5-month low. EUR/USD looks to PMI data.

The US dollar rally has stalled, and the longer is fails to extends its gains the greater the odds of a pullback. For today, flash PMIs have placed GBP/USD and EUR/USD into focus.

The bigger the rally the harder the fall? Traders dabbling in the precious metals space may be asking that exact question with gold and silver extending their losses on Tuesday after a brutal start to the week.

There has been a shakeup at the top for gold, which opened the week at the high and closed the day at the low during its worst day in two years. We also look at a potential swing trade long on WTI crude oil.

Whether you want to call it a bullish hammer, dragonfly doji, false break or morning star, the price action on the AUD/USD daily suggests the path of least resistance is higher in the near-term.

GBP/USD remains in “sell rallies” mode, so bullish readers will want to be nimble against a broader backdrop that favors more downside from here.

Crude oil demand outlook will come into a sharp focus this week with the release of the global manufacturing PMI data, US GDP and the Fed’s preferred measure of inflation this week. Still, Middle East tensions remain the key driver of short-term price action. Meanwhile, WTI technical analysis suggests the longer-term trend is still bullish.