After a brief relief, crude oil prices extend loses Friday. Brent keeps bleeding for an eights week in a row as demand-supply concerns still persist in the market ahead of the crucial OPEC+ meeting due next week. The prices failed to regain the $60 threshold and turned negative on the day, still threatening long-term lows below $58. Over the weekend, the G20...
The greenback continues to bleed nearly across the board, digesting the unexpectedly “dovish” tone from Pow-ell. The Fed Governor stated that rates were just below neutral range and didn’t mention a future 'gradual path of rate hikes for next year. Such rhetoric made traders worry about the potential pausing hikes in 2019. As a result, the dollar came under...
After yesterday’s decline, EURUSD tried to stage a recovery but failed to attract buyers and resumed the downside move even as the dollar demand seems to be losing steam following the recent rally. The pair was rejected from the 1.13 handle and refreshed two-week lows below 1.1270. Despite the talks of Trump’s auto tariffs were denied today, the speculations...
The greenback continues its ascent on Tuesday, with the major currencies are on the defensive ahead of this week’s G 20 Summit in Argentina. The pound is broadly lower as Brexit deal hopes continue to fade. GBPUSD slipped to mid-November lows around 1.2733, which helps to lift the buck. Interestingly, the EURUSD pair is also edging lower even as the Italian...
The euro recovery is gaining traction on Monday after a steep decline late last week. EURUSD is extending gains above 1.13 but lacks momentum to challenge the 1.14 handle so far. The local demand growth is due to some positive developments in Italy. In particular, Italy's deputy prime minister Luigi Di Maio hinted at a possible budget deficit reduction. As...
Crude oil prices resumed the decline after some shallow recovery attempts earlier this week. On Friday, Brent has challenged the $62 support and slipped to fresh February lows around $61.80. The selling pressure has eased a bit since then but downside risks remain as the barrel struggles to get back above $62. The market has shifted focus to the upcoming...
Unstable investor sentiment prevents the USDJPY pair from a more robust recovery. The financial markets fail to show a steady rise due to a number of risk factors, from US-China trade war to Brexit and global growth. Against this backdrop, safe haven demand prevails and helps the Japanese yen to stay afloat even as the Bank of Japan continues to adhere to its...
The positive sentiment in risk appetite underpins the euro on Wednesday. Yesterday, EURUSD was rejected from daily highs still below 1.15 and slipped under 1.1360. Now, the pair is trading positive on the day but still struggles to regain the 1.14 figure which confirms a cautious tone amid the Italy’s budget woes. The reports that Italy may make cuts to the...
The yellow metal continues its recovery on Tuesday amid a widespread risk aversion, declining yields and weaker dollar. Gold prices are regaining ground for a sixth day in a row but still fail to make a decisive break above the $1,225 immediate resistance. Investors refrain from risk taking against the backdrop of ongoing Brexit concerns, Italy’s budget...
At the start of a new week, the greenback is trading under a mild selling pressure after a steep decline on Friday. The American currency feels uncomfortable after the Fed officials expressed concerns about global growth. Investors took the recent comments as a signal that the central bank could slow down the process of monetary policy normalization, which...
Crude oil prices continue to recover gradually, with Brent has settled above the $67 figure on Friday. Today is the third day of gains in a row, but the bullish impetus still looks too fragile and cautious. The price seems to have found support below $65 earlier this week, however the downside risks are still there and it looks like it’s too early to call a...
The greenback remains on the defensive for a third day in a row on Thursday. The key reason behind its local weakness is a meaningful progress on Brexit as Theresa May got cabinet approval for her draft agreement which fuelled sterling and euro rally. By the way, the buck is also lower against the Japanese yen even as inves-tor sentiment in the global financial...
It looks like the dollar demand is back after yesterday’s correction, with EURUSD is under a bearish pressure again, while the pound seems to be losing its Brexit-related enthusiasm. Despite the fresh headlines from Lon-don could yet fuel another sterling rally, a wider picture shows that the greenback remains strong, mainly due to monetary policy divergence. ...
Crude oil prices lick wounds after another aggressive sell-off. Brent slipped below the $69 figure for the first time since April and struggles to get back above $70 on Tuesday as concerns over a weaker global demand still prevail in the market. The recent decline in prices was fuelled by dollar rally. The American currency is on the rise due to monetary...
The euro continues to grind lower on Monday with the EURUSD pair has lost the 1.30 handle for the first time since mid-2017 against the backdrop of a stronger USD index that hit a 17-month high earlier in the day. The buck is widely supported by investor expectations on further tightening by the Federal Reserve. By the way, the December rate hike has been...
Crude oil market has mostly ignored the speculations on a possible OPEC output cut in 2019. Brent has expended its bearish path to seven-month lows marginally above the $70 crucial handle on Friday as concerns over global oversupply weight. The dollar continued its advance after the hawkish FOMC statement, which adds to the selling pressure. As the US...
The yellow metal is suffering losses for a fifth day in a row after an impressive rally that took place last Thursday. Today, gold prices have eroded the $1,222 handle and now threaten to challenge the $1,220 support level. The dollar regains strength following a bearish knee-jerk reaction to the midterm election outcome, which increases the downside risks for...
The greenback is edging lower on Wednesday amid profit-taking as midterm election outcome matched market expectations. During the European session the dollar got under the renewed selling pressure as investors continue to digest election results. However, after the dust settles, the buck could regain strength and move to the offensive amid positive...