After earlier bullish attempts, the EURUSD pair turned sharply lower on Thursday. The prices failed to break above the 1.13 once again and plunged to nearly one-week lows around 1.1260. The aggressive sell-off was due to fresh data from Germany that disappointed traders. Germany April flash manufacturing PMI came in at 44.5 versus 45.0 expected and 44.1...
EURUSD failed to hold above 1.13 yesterday and finished in the negative territory amid a widespread rally in the greenback despite weak US industrial production data. However, the pair resumed the upside move on Wednesday as dollar turned bearish due to a better risk sentiment in the global financial markets. Investors are cheering stronger-than-expected...
Gold is bleeding for a fourth day in a row, with the prices dipped below the 100-DMA again and registered a daily low around $1,283 so far. The bullion was rejected from highs above $1,310 last week and has been trending lower since then. Global financial markets look undecided on risk appetite but US-China trade optimism reduces the safe-haven appeal of the...
Crude oil prices are losing ground on Monday, coming off from the five-month highs registered last week below $72 amid the ongoing unrest in Libya. The supply cuts from OPEC, US sanctions against Iran and Venezuela, as well as the fighting in Libya are fueling expectations of tightened global supplies these days. Against this backdrop, the market looks strong...
The USDJPY pair jumped above the 200-DMA yesterday and extended gains to the levels marginally below 112.00 on Friday. The pair rallies for a second day in a row, rebounding after three days of losses as buyers reemerged at bearish attempts around 111.00. The greenback saw a limited downside pressure from the dovish FOMC minutes as traders were ready for such...
After a three-day rally, gold prices turned negative on Thursday as risk-on sentiment has improved on positive developments globally. The bullion jumped to the $1,310 area yesterday but failed to preserve the bullish momentum and retreated, testing the key $1,300 handle again. On Wednesday, the U.S. Treasury Secretary Steven Mnuchin said the US and China have...
After a limited correction on Tuesday, crude oil prices are trying to resume the rally today, with Brent struggles to firmly get back above the $71 figure a jump to fresh five-month highs around $71.30 yesterday. The IMF cut its forecast yesterday to the lowest since the financial crisis, which stoke fears that global growth is slowing and curbed demand for...
EURUSD extends its recovery since Monday, with the pair seems to struggle around the 1.1280 region that is standing on the way to the 1.13 handle. The euro derives support from a widespread dollar weakness, while the threat of US tariffs on the EU limits the upside impetus. Interestingly, Istat just announced no change to Italy’s 2019 GDP growth which stood...
Global financial markets started the new trading week on the defensive as trade-related optimism was overweighed by geopolitical concerns. In particular, Libyan militias battling for control of the country’s capital, Tripoli, launched air strikes against one another on Sunday. The US Secretary of State Mike Pompeo said that the US required the Libyan National...
At the start of the week, gold prices tried to recover above the $1,300 handle but failed and since then the bullion has been directionless, oscillating around the $1,290 level. Yesterday, the precious metal briefly touched a one-month low below $1,281 amid dollar recovery but finished the day in the positive territory. Today, the prices are under pressure...
After reaching fresh five-month highs around the $70 psychological mark, Brent retreated slightly yesterday, with the bearish pressure is intensifying on Thursday as the prices are flirting with $69 after data showed a larger-than-expected jump in U.S. crude inventories. According to the EIA report, inventories rose 7.2 million barrels to 449.5 million...
After some hesitation on Tuesday, USDJPY resumed the upside move today, with the pair registered fresh two-week highs above the 200-DMA, at 111.57. The next bullish target now comes at 111.70 which is standing on the way to the key 112.00 handle. The yen demand turned sour amid rising optimism over the US-China trade talks that are resuming today in...
The sentiment surrounding the common currency remains negative, with EURUSD is nursing losses for a sixth day in a row. The pair is flirting with the 1.12 important support for the first time in nearly a month, and a break below this level could open the way towards 2019 lows around 1.1175. Poor inflation figures in the euro area confirmed the slowdown in...
Crude oil prices jumped higher on Monday due to a general improvement in risk sentiment at the start of a new week, month and quarter. Brent opened with a bullish gap and regained the $68 handle which remains in market focus, standing on the way to the key $70 psychological resistance. The market is supported by the latest Baker Hughes data that the number of...
Gold continues to lose ground for a fourth day in a row and head for the biggest monthly fall in eight months. The bullion was rejected from late-February highs around $1325 on Monday and drift lower since then amid a fairly robust dollar demand and growing investor optimism over the US-China trade talks. The two world’s largest economies started a new round...
USDJPY is grinding lower for a second day on Thursday, with the price has slipped to the 110.00 area amid the prevailing risk aversion. Traders continue to closely monitor developments in the bond markets as the yield on the benchmark 10-year Treasury note returned to its lowest level since 2017 on Wednesday. The yen demand is also due to nervous...
Crude oil prices struggle to extend the bullish momentum but the overall bias remains positive on Wednesday. Brent has settled around $67.50 and still struggles to get back above the $68 barrier. Global growth concerns reemerged in the financial markets, which poses a threat for the current upside attempts. Chinese industrial profits contracted 14% y/y in...
The greenback started the week on a downbeat note amid a decline in the US Treasury yields. As a result, EURUSD managed to recover some of the Friday’s steep losses. At the same time, the upside potential was limited amid the risk aversion sparked by renewed fears about the outlook for the global economy as a result of inversion of the 3-month and 10-year...