The EURUSD pair is extending gains for the fourth day in a row on Tuesday, with the recent buying interest was fuelled by Trump’s verbal interventions. The US President has criticized the Fed for raising interest rates. His rhetoric sent the greenback down across the board, which helped the euro to regain the 1.15 threshold. As the pair has recovered from...
The dollar is trading mixed on Monday, after a retreat late last week. The risk-off sentiment has ebbed somehow amid the upcoming US-China trade talks, which eases the upside pressure on the greenback. But the bearish potential sill looks limited as investors don’t hope for a major breakthrough in the resuming negotiations. As for the EURUSD pair, the price is...
Major currency pairs have been consolidating on Friday amid a lack of fresh catalysts and news. The risk-off tone has abated but investors refrain from more active buying and remain cautious as any negative news headline could easily derail the emerging optimism in the global markets. As such, the dollar is trading under just a mild selling pressure and...
Risk-off sentiment has ebbed on Thursday as global investors received a hope for de-escalation in the trade war between the US and China as the two countries will hold trade talks in late August. Against this backdrop, the dollar safe-haven demand has abated, which opened the way to a recovery in major currencies. However, markets remain rather cautious and...
Crude oil prices are making shallow recovery attempts on Wednesday, after yesterday’s decline to lows marginally above the $72 figure. The bulls refrain from more aggressive actions as market concerns over geopolitics keep increasing, fuelling fears of a decline in global oil demand. The Trump’s trade wars threaten to derail global growth and shatter global...
The EURUSD pair has been trading close to one-year lows, though made some recovery attempts yester-day. The price is clinging to the 1.14 figure and lacks the impetus to stage a more sustainable and pro-nounced recovery. Chances for a steady rise above the 1.15 barrier are low as this level served as a firm support for a long time. In the short-term,...
Spot gold keeps losing ground on Monday, with the price extending loses to the critical $1,200 support. The yellow metal hit $1,210, the lowest level since March 2017, which is the last line of defense ahead of the key $1,200 support. A break below this level will open the way to fresh long-term lows and will mark a new bearish phase for the market. As the...
Spot gold remains under pressure after several recovery attempts earlier this week. The yellow metal thus finishes the eighth from the last nine weeks with declines, confirming a steady bearish trend established this year. A strong dollar remains the key reason behind gold’s weakness. The greenback continues to rise across the board, refreshing one-year...
GBPUSD keeps bleeding on Thursday, with the pair dropped to fresh one-year lows in the 1.2840 area, threatening the 1.28 threshold. The dollar is back on the offensive amid the escalation of a US-China trade war as the two world’s largest economies threaten each other with additional tariffs, fueling risk-off sentiment. Another source of a bearish pressure on...
Crude oil prices have been rising over the past few sessions with Brent has settled above the $74.50 area. However, the market lacks further upside momentum and the risks of resuming the decline remain. The key immediate obstacle for bulls now comes at $75, with the next upside barrier lies around $75.20, where the 50-DMA lies. The prices were recently...
GBPUSD is licking its wounds after a drop to 11-month low of 1.2920 on Monday, having recovered above the 1.2960 area. Despite the immediate downside pressure has eased somehow, bearish risks for the pair remain, and the general picture in the weekly charts is still ominous. The British pound came under an intense pressure from two different fronts. First,...
Crude oil prices are trading with a modest bullish bias on Monday, with Brent has settled above the $73 handle, unable to attract a more sustainable buying interest to challenge the 20-DMA marginally below the $74 barrier. The downside pressure on Brent has eased somehow recently. According to POEC sources, Saudi Arabia has cut its crude oil output in July by...
The pound has suffered a lot from the ‘dovish hike’ by the Bank of England on Thursday. The GBPUSD pair slipped from the 1.3130 area, down to the 1.30 level which has been eroded today. The price continues to retreat and could challenge this year lows before the end of the week. The BoE expressed concerns over Brexit process and made it clear that the...
The greenback remains on the offensive after the Fed meeting. The US central bank hasn’t said anything new and confirmed its commitment to further tightening. This, coupled with the reemerged trade-war concerns, was enough to support USD demand against major rivals. The GBPUSD is changing hands below the 1.31 figure ahead of BoE’s Super Thursday. Investors...
Crude oil prices continue to lose ground on Wednesday following yesterday’s aggressive correction. Brent crude slipped from highs in the $75.60 area, down to nearly two-week lows just above the $73 handle, which so far constrains the selling pressure. After a seven-day rally, the retreat looked inevitable as investors rushed to take profit amid signs of a...
The greenback shows mixed dynamics against major rivals this week, being cautious ahead of the Fed two-day meeting starting today. The dollar gained some support in the USDJPY pair as the yen was unfazed by the Bank of Japan meeting as the central bank left its policy unchanged and showed it still lacks flexibility. The pair is holding above the 111.000...
The British pound finished a third week of decline in a row. On Monday, the GBPUSD pair is attempting to regain ground and clings to the 1.31 handle. However there are still signs that the currency remains vulnerable to further losses, while the recovery potential is limited. The key event for the sterling this week is the BoE meeting due on Thursday. The...
The euro licks its wounds after a decline on ECB Draghi statements which were cautious and in fact haven’t brought anything new to investors. EURUSD dropped to fresh one-week low of 1.1635 during the Asian hours on Friday and now attempts to regain ground. Meanwhile, market focus shifts from a non-event ECB meeting to the US Q2 GDP report, which could have a...