AUDUSD feels relatively comfortable in the familiar range, with the immediate resistance comes at last week’s highs around the 0.72 figure, while on the downside, the selling pressure is capped by the 0.7060 handle. The short term technical outlook looks neutral, while in the longer term, the pair could face some difficulties. The aussie feels a drag from the...
The common currency appreciated last week and has settled above the 1.13 threshold after a short-lived jump to a high of 1.1370 earlier in the week. The recent rally seems to have stalled, while the current recovery attempts look too modest at this stage. Despite the risk-on sentiment across the board, EURUSD fails to show a sustainable rally. Such dynamics...
USDJPY remains in a limited range this week, with the 111.00 figure continues to act as the key resistance. The pair dipped marginally yesterday amid investor optimism over the US-China trade talks and another portion of weak economic data from the US. On Friday, the dollar is trying to resume growth but lacks the impetus against the backdrop of mixed investor...
Crude oil prices resumed the rally on Wednesday and extended gains to the $67,43 figure. After reaching fresh November highs, Brent has settled around the $67 level and looks directionless in the short-term charts, trading with a slight bearish bias on Thursday. The recent ascent in prices was fueled by a number of factors. Saudi Energy Minister Khalid...
Gold prices received a boost from dovish comments by Fed’s Mester that sent the dollar lower nearly across the board. Traders were at a loss as this central bank official used to be hawkish, which added to the upside pressure on the precious metal. The prices surged to fresh April highs above $1,346 on Wednesday and remain elevated despite some correction from...
EURUSD is consolidating previous gains on Tuesday, with the pair has settled around the 1.13 psychological level. Despite some softness, the dollar is holding rather firm as traders are focused on US-China trade talks in Washington due to resume on Thursday. So, in the coming days, the greenback will likely remain rather robust, if, of course, the FOMC...
As the latest Fed meeting was accompanied by the central bank’s commitment to data dependence, flexibility and patience, the upcoming FOMC meeting minutes may have a significant impact on the markets and the dollar in particular as the monetary authorities are expected to clarify the prospects of their monetary policy. Should the regulator hint that the shift...
Soft US retail sales data reignited concerns among investors and weakened risk appetite in the global financial markets. However, crude oil prices showed resilience and extended the rally towards fresh nearly three-month highs around the $65 psychological mark on Friday. Brent seems to have encountered a local resistance at this level as lack of news from...
The Fed took a pause in hiking rates but the greenback rallies. After eight sessions of strength, the ascent stalled, however demand reemerged quickly and took the currency to fresh highs. So what’s behind the USD strength after all? Essentially, it’s more weakness in other currencies rather than dollar appeal. It is just ‘best of a bad bunch’ as, for...
Gold extends a gradual ascent on Wednesday but the dynamics still looks unsustainable. This is not surprising, considering a widespread investor optimism over trade talks in Beijing and arrangements in Congress to avoid another shutdown. The bullion stays above the $1,300 psychological support but fails to make a sustained break above $1,315. The dollar saw...
The Reserve Bank of New Zealand rate decision on Wednesday will attract market attention, as NZDUSD has been trading at three-week lows marginally above the 0.67 figure. It is widely expected that the central bank will take a more dovish tone, citing risks at home and abroad. RBNZ survey for the first quarter of 2019 showed that 1-year inflation expectations...
The greenback had a fruitful week, with the US currency has decently appreciated against most rivals. Safe haven demand was the key driver as investors continue to assess global growth prospects and further price in lower activity in major countries. The trade-related fears reemerged as well, which gave the additional lift to the dollar. Despite the recent...
Crude oil prices resumed the downside move after a brief pause and could threaten the psychological support of $60 should the selling pressure persist. Brent is attempting to cling to the $61 handle but considering the general risk-off tone in the global financial markets, bearish risks could overweight in the short term. Risk appetite soured as a senior US...
Gold extends losses from last week’s highs and holds at fresh one-week lows registered on Thursday around $1302. As such, the precious metal has settled within striking distance from a psychologically important support at $1300. The bullion now faces a stark choice: to hold above this level or to speed up its bearish correction on a break lower. The selling...
The common currency extends its pullback after the earlier rally above 1.15. EURUSD has been losing ground for a third day in a row. On Tuesday, the prices managed to hold above the important psychological level of 1.14 but today, the sellers pierced this handle, which points to a risk of an even deeper correction. The euro zone reports continue to...
GBPUSD extends its pullback from highs above 1.32 registered last week. The pair has settled around the 200-DMA at 1.3040 which caps the downside pressure so far and prevents a dip below the psychological level of 1.30. The dollar shifted to a recovery mode on Monday and preserves the bullish bias today, which adds to the local pressure on the pound. The...
AUDUSD declined on Friday after a strong US jibs report lifted the greenback marginally across the board. The pair remains under some pressure at the start of a new trading week as the USD receives another mild boost from the latest labor market data. The US non-farm payroll grew 304k in January, well above expectation of 165k. But the previous figure was...
After a rally amid a widespread dollar sell-off following a more cautious Fed’s stance at the meeting, the euro capitulated much of the previous gains and turned negative on Thursday. The common currency resumed the ascent today but the impetus looks too modest to bring the pair back above 1.15. The key reason behind the latest bearish correction in the...