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Gold (XAU/USD) has staged a major bullish breakout, surging 4.35% on 19 August for its largest one-day gain since February 2026. The rally reflects growing US dollar debasement and fiscal-dominance concerns following larger US Treasury bond buybacks. Technical momentum remains bullish above the $4,434/$4,405 pivotal support, while a sustained break above $4,504 could reinforce the advance towards $4,580 and $4,640.

GBP/USD remains firm ahead of the US CPI release after breaking above a key medium-term descending trendline following last Friday’s US NFP. Sterling’s near-term bullish momentum remains intact above the 1.3479 pivotal support, with upside targets at 1.3547, 1.3580 and 1.3643. A hotter-than-expected US core CPI could revive Fed rate-hike expectations and US dollar strength, while softer inflation may reinforce GBP/USD’s bullish breakout.

USD/JPY’s three-day rebound is showing signs of exhaustion near the key 158.55 inflexion level ahead of the US non-farm payrolls release. The narrowing 2-year UST-JGB yield spread, a potential bearish flag and weakening hourly RSI momentum suggest renewed downside risks for USD/JPY. A break below the 157.95 downside trigger could expose 157.30 and 156.32, while a move above 158.55 may extend the rebound towards 159.45.

Microsoft's fiscal Q4 2026 earnings will be closely watched as investors assess whether the software giant can convert record AI infrastructure spending into stronger Azure growth, Copilot monetisation, and free cash flow. With Microsoft's Capex-to-Revenue ratio reaching a record high among the Magnificent 7 and technical indicators turning increasingly bearish, traders will focus on whether management's guidance can justify its elevated AI investment strategy.

Intel reports its Q2 2026 earnings with investors closely watching whether its AI-driven turnaround can justify its 172% year-to-date rally. Beyond headline EPS and revenue, traders will focus on Data Centre and AI growth, capital expenditure, free cash flow, and management guidance. With technical indicators weakening and AI spending coming under greater scrutiny following Alphabet's earnings, Intel faces a critical test of both fundamentals and market sentiment.

The Nasdaq 100 is showing signs of increasing technical and fundamental weakness as AI infrastructure stocks lose momentum and semiconductor volatility accelerates. Leveraged unwinding in memory-chip leaders, concerns over rising capital expenditure, and delayed AI monetisation are weighing on valuations. Discover why the 28,200 support level is a critical technical trigger and how semiconductor weakness could drive a broader multi-week correction in US technology stocks.

Goldman Sachs heads into its Q2 2026 earnings after outperforming the S&P 500 and financial sector by a wide margin, raising the bar for another positive surprise. Investors will focus on investment banking fees, trading revenue, and management's outlook for capital markets activity. With US CPI, Fed Chair Kevin Warsh's testimony, and renewed Middle East tensions also driving sentiment, bearish technical signals suggest the stock may be approaching a mean-reversion phase.

SpaceX's fast-tracked inclusion into the Nasdaq-100 is expected to unleash around US$4.3 billion of passive buying from index-tracking funds, but history suggests investors should be wary of a potential "sell-the-news" reversal. Explore why previous Nasdaq-100 additions such as Palantir and Strategy experienced sharp post-inclusion corrections, how SpaceX's elevated AI-driven valuation increases downside risks, and the key technical levels traders should monitor.

USD/JPY tumbled sharply after a sudden bout of yen strength raised suspicions of stealth intervention by Japanese authorities ahead of the closely watched US non-farm payrolls report. While widening US-Japan yield spreads continue to favour a stronger dollar, record speculative short positions in the yen increase the risk of further intervention-driven volatility. Traders are now watching the critical 160.90 support level and the US jobs report for the next major directional catalyst.

The S&P 500 finished Q2 2026 with its strongest quarterly performance since 2020 after a late surge driven by institutional window dressing and easing US-Iran tensions. However, the rally now faces a critical test as the US Dollar Index breaks to a 13-month high following the June FOMC meeting. Investors are closely watching Fed Chair Kevin Warsh's speech and this week's US jobs report, with further dollar strength potentially triggering a short-term bearish reversal in US equities.