EURUSD briefly jumped to the 1.1160 area as traders cheered positive PMI numbers out of France. But the euro pared earlier gains quickly along with risk assets following German and Eurozone figures which knocked down the optimism as the numbers came in lower than expected and confirmed that the regional economy continues to struggle in October. In particular,...
EURUSD extends the pullback from monthly highs around 1.1180 registered at the start of the week. The pair retreated below the 100-DMA and now threatens the 1.11 handle as the greenback gradually regains strength against the European currencies amid the prevailing risk-off sentiment. Also, traders are getting more cautious ahead of the ECB meeting due...
Gold prices remain in a consolidative mode for over a week already, with bullish attempts are capped by signs of progress in the US-China trade talks and prospects of approving the Brexit deal. The bullion failed to challenge the $1,500 figure last week and struggles for direction since then. On Monday, the yellow metal was rejected from the $1,495...
Oil prices failed to confirm a break above the $60 handle and slipped back below $59 on Friday. Today, the prices are making some recovery attempts but the selling pressure still persists as investors show a cautious tone amid the ongoing Brexit turmoil, US-China trade frictions and weak economic data. As such, the British parliament delayed a crucial vote on...
In less than a week, GBPUSD gained nearly 6% against the greenback. Yesterday, the pair refreshed five-month highs around the 1.30 psychological level which served as a resistance. On Friday, the pound retreats marginally and has settled around 1.2850, awaiting further development surrounding Brexit. The recent rally came as the EU and UK agreed on a Brexit...
Gold prices have been trading with a bearish bias since September, with the bullion had to retreat from long-term highs just below $1,557, down to the current levels below the $1,500 handle which now stands as the immediate resistance. Once above, the yellow metal could try to regain a more robust momentum. In the short term, gold may resume the upside move...
Brent crude extends losses for a third day in a row. Trade-related optimism has waned quickly and investors show a limited demand for risky assets. Moreover, tensions between the world’s two largest economies could reemerge as recent developments demonstrate. In particular, China vowed to take countermeasures against the U.S. in response to a bill that favors...
EURUSD finished marginally lower on Monday, and the upside bias resumed earlier today, with the pair continues to hold above the 1.10 handle. In general, the common currency continues to fluctuate in a limited range, with bulls remain cautious ahead of German ZEW survey. The economic sentiment index is anticipated to fall further to -27.3 in October from...
Gold prices dipped to early-October lows on Friday as investors were cheering a partial US-China trade deal. As a result, Washington decided not to raise tariffs on $250 billion worth of Chinese imports from 25% to 30%, which brought some relief to global markets. The bullion registered a weekly low just below the $1,474 figure and finished at $1,488 on...
Since the beginning of this month, EURUSD has been recovering gradually, after two weeks of steep losses in the second half of September. Yesterday, the euro has finally broken above the 1.10 handle amid a broad-based weakness in the greenback. Risk sentiment improved dramatically due to positive developments in Washington, with Trump said trade talks between...
The USDJPY pair is getting more volatile as signals from the trade front are rather contradictory. In Asia, the greenback briefly jumped above the 100-DMA to register one-week highs around 107.77 after an earlier dip to 107.00. The pair has settled around opening levels since then. Such dynamics confirms a heightened uncertainty around the upcoming trade...
The upcoming US-China trade talks are in market focus now, with the two countries continue to flex muscles. In the latest move, Washington imposed visa restrictions on Chinese officials accused of involvement in repression of Muslim populations. In turn, Beijing said the US was using the excuse of human rights to interfere in the China’s internal affairs. As...
USDJPY is gaining bullish momentum since the start of the week. The pair climbed back above the 107.00 handle and clings to the levels just below the 107.50 intermediate resistance. Once above, the dollar will encounter the 100-DMA which now comes at 107.63. The upside impetus however looks unsustainable as risk aversion could reemerge at any point. On...
Late last week, investor sentiment has improved somehow due to generally positive US jobs data which curbed concerns over a potential recession in the world’s largest economy after dismal manufacturing and services PMIs. This week is going to be busy as well, with a new round of US-China trade talks will be in focus. The reports that Chinese officials have...
After a series of dismal economic data from the US this week, the dollar continues to lose ground against major counterparts. EURUSD saw a short-term rally on Thursday, with the 1.10 handle served as a local resistance. Today, the common currency preserves a bullish bias amid a broadly weaker greenback. Now, market focus shifts to the upcoming US NFP jobs...
Crude oil prices declined aggressively on Wednesday, with Brent has registered fresh nearly one-month lows around $57.20. Today, the prices are making some recovery attempts but struggle to get back above the $58 handle and remain under pressure in general. The market took a hit from a series of dismal economic data from the US, which spurred concerns over...
After EURUSD made fresh two-year lows at 1.0878 amid a stronger dollar and dismal Eurozone data. The manufacturing PMI came in at 45.7 beating forecasts of 45.6 in September, registering the lowest level since October 2012. Later in the day, the pair reversed and closed around 1.0930 as the greenback turned lower across the board. The US manufacturing PMI ISM...
Oil prices are making shallow recovery attempts on Tuesday after yesterday’s plunge by over 2%. Brent crude so far struggles to get back above the key $60 level but could gradually regain the upside momentum and stage a more pronounced ascent from recent lows in the short term. Traders continue to digest the news that Saudi Aramco has restored full oil...