AUD/NZD Bounces but Incoming Death Cross May Keep Outlook Bearish

U.S. equity markets continued to march higher in Wednesday’s New York trading session, with the S&P 500 hitting a record high for the second consecutive day. Tuesday’s gain is mainly attributed to advances in health care and financial stocks. Still, momentum appeared to slow, and the tech-heavy Nasdaq-100 index eked out a gain of only 0.01%. Gold extended gains after a healthy bounce earlier this week. The slowdown in momentum may pass by as nothing more than a pause before another push higher in the U.S. equity space, but notable risks remain present. Today, the Federal Reserve’s Beige Book highlighted some … (full story)

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