The euro received a boost on Friday after the EU leaders reached an agreement over the migration issue. The EURUSD rallied but failed to challenge the 1.17 local resistance. The bullish impetus turned out very short term and unsustainable as the situation in Germany remains unresolved, so the pair is losing ground on Monday, remaining above 1.16 so far. ...
Brent crude has been testing the $78 level once again as the lingering global supply concerns continue to fuel oil demand this week. The price targets the $80 threshold, trending north for a sixth day in a row. However, the risk of profit-taking is rather high at this stage as the positive drivers have been largely priced in already. Market participants...
GBPUSD has been trading under an intense bearish pressure this week, with the pair failed to keep above the 1.31 threshold on Thursday and slipped to fresh mid-November lows around 1.3065. The price has partially recovered since, but remains weak and vulnerable to further losses. Month-end, quarter-end, and half-year-end flows support the greenback across...
The USDJPY pair managed to stage a solid rebound on Tuesday, but failed to make a clear break above the critical 200-DMA and got back below the 110.00 threshold today. The immediate support now comes around 109.50. The dollar still lacks the upside impetus against the yen as the Japanese currency attracts buying interest as a safe haven currency. The...
The EURUSD pair has been correcting lower on Tuesday after three days of gains. The price failed to keep above the 1.17 threshold and is getting back below the 20-DMA, down to session lows around the 1.1670 area. The short-term technical picture points to downside risks for the single currency. The dollar regains the positive momentum today, with risk-off...
EURUSD continues its recovery on Friday, with the key reason behind the corrective rebound is the widespread dollar weakness amid a retreat in the 10-year US Treasury yields and a better risk-on tone after the recent sell-off. The pair has reached the 20-DMA just above the 1.1670 area, where the rally has exhausted for the time being. As there are no any...
GBPUSD has been trading lower on Thursday, at fresh 7-month lows around 1.3125. The pair remains under pressure mainly due to strength in the US dollar which received a boost recently from the hawkish Fed. The pound has lost the important support area 1.3150 and remains vulnerable to further losses. Today, the Bank of England policy meeting will be in focus....
EURUSD dipped to late-May lows in the 1.1530 area on Tuesday amid a widespread risk aversion that fuelled the dollar demand. The pair has recovered partially since, but continues to trade with a bearish bias and remains vulnerable to further losses in the short term. Despite the downside pressure on the single currency has eased somehow, and global investors...
The USDJPY pair has accelerated its decline on Tuesday amid the increasing risk-off sentiment as an escalating trade war between the US and China continues to hurt investor enthusiasm. The price dropped from last week’s highs close to the 111.00 mark, down to one-week lows around 109.50. Against the background of widespread risk aversion, the Japanese...
Crude oil prices are attempting to stage a corrective rebound on Monday after a dip to fresh two-month lows earlier in the day. Brent has extended the recent decline to $72,10 where it received a support and staged a recovery. However, the bullish momentum remains too timid to open the way to a more pronounced rise from the current levels, with the $74 area is...
The EURUSD pair nosedived to two-week lows following the dovish ECB statement on Thursday. The price has challenged fresh lows in the 1.1543 area earlier today but faced support and since has recovered some ground. During the early European hours, the euro is attempting to get back above the 1.16 threshold. Despite the pair has stopped bleeding, the euro...
Today’s ECB meeting will undoubtedly will be a crucial one, despite the regulator isn’t going to bring any actual changes to its current monetary policy. Despite the economic picture in the euro zone doesn’t warrant a hawkish rhetoric, the recent comments by a number of central bank members point to its readiness for QE removing, probably till the end of this...
Spot gold remains under a bearish pressure after yesterday’s drop. The yellow metal has been trading below the key $1,300 mark since early-June and still doesn’t show any signs of a sustained recovery as market focus has shifted from geopolitics to the upcoming FOMC meeting. The Fed rhetoric could affect the overall sentiment in the global financial markets...
The greenback has regained some ground since the start of the week, mostly due to yen’s significant retreat ahead of today’s US-North Korea summit. Trump has described the meeting with Kim as honest, direct and productive, but he highlighted that sanctions on North Korea will remain in effect and noted that the two leaders will probably need a second summit. ...
The EURUSD pair has regained the bullish impetus on Monday, with the price is testing the 1.18 once again. The euro is underpinned by bullish expectations ahead of this week’s ECB meeting, even as US-EU trade tensions persist. The pair remains above the 20-DMA but will hardly dare to jump to 1.20 and above any time soon as traders will likely be cautious ahead...
The GBPUSD pair is trading marginally lower on Friday, with widespread risk aversion has put the high-yielding currency under some pressure, while the greenback is licking its wounds after a bearish move earlier this week. The price failed to hold above the 1.34 threshold and turned red on the day, challenging the 20-DMA before the opening bell on Wall Street. ...
Crude oil prices have recovered marginally on Wednesday, with Brent managed to keep above the $74,50 area and finished at $75,73. The immediate resistance comes at $76 – a break above will confirm some easing of a downside pressure. However, in the bigger picture, the bearish risks still persist, and the 20-DMA around $77,50 is unlikely to be challenged any time...
EURUSD has appreciated marginally yesterday, with the bullish bias remains intact on Wednesday. The latest rise in the single currency could be attributed to some relief in Italy as the new Prime Minister Conte highlighted that his country has no plans to leave the euro zone. The additional upside pressure came amid ECB QE exit talk. It was reported that the...