Declining US yields and the US dollar have helped oil prices recover some of the recent losses. Greater-than-expected EIA crude drawdowns help lift US crude

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​​Outlook on FTSE 100, CAC 40 and Nasdaq 100 ahead of today’s Jackson Hole symposium.

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EUR/GBP failed to hold below the 0.8500 psychological level as consolidation looks set to return. Adjustments to rate hike probabilities do appear to favor further downside over the medium-term.

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US indices may have rebounded in recent days, thanks to earnings and the retreat in US yields. But the deep decline since last month has left a scar on the broader uptrend, one that could be hard to fill soon.

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There are growing signs that USD could be in the process of making an interim top. To be fair, this wouldn’t necessarily imply that the uptrend is over. What’s next for EUR/USD, GBP/USD, and AUD/USD?

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