Risk sentiment looks subdued on Monday, with investors prefer a cautious approach due to the lingering uncertainty around the upcoming US-China trade talks and ahead of fresh economic data, including the key US NFP employment report. Against this backdrop, USDJPY turned lower after three days of gains. The pair struggled to make a clear break above the 108.00...
After some consolidation, EURUSD broke to the downside on Thursday and extended losses to fresh two-year lows just above the 1.09 handle. Despite some intraday bounce, the euro remains under the selling pressure and could suffer further losses amid a resilient dollar across the board. Apart from a resilient greenback, the downside pressure came from another...
Crude oil prices declined on Wednesday amid the reports that Saudi Arabia goes ahead of schedule to make the repairs to its oil facility. Besides, Trump left the door open for a path to de-escalation with Iran, which added to the negative sentiment in the market. As such, Brent briefly dipped to the $60.30 area but manages to finish around $61.50. Meanwhile,...
EURUSD turned lower on Wednesday after a short-term rise yesterday. The pair still struggles to hold above the 1.10 handle as the 1.1225 intermediate resistance caps the bullish attempts after a rejection from 1.1075 last week. On Tuesday, the common currency derived some support from slightly better-than-expected German IFO data coupled with a modest...
Gold prices have been in a recovery mode these days as market sentiment remains unstable amid some conflicting signals from geopolitics and economy. The bullion struggled to overcome the $1,525 area yesterday but managed to stay above the $1,500 handle and shows a limited bearish bias early on Tuesday. Dismal economic data from Germany pointed to a rising...
Despite the bullish momentum has partially waned after the earlier rally, oil prices remain at relatively high levels and will likely stay afloat in the near term as geopolitical tensions are still elevated, with the prospects for a recovery in the Saudi oil production are looking unclear. Brent slipped below the $64 figure while the bearish momentum is capped...
EURUSD gains for a second day in a row on Friday but stays in the negative territory in the weekly charts. One week ago, the pair was rejected from the levels above 1.11 which remains the key to the upside, with the intermediate resistance comes around 1.1075. Despite the current recovery attempts, the short-term and broader outlook for the euro remains...
After yesterday’s slide, Brent crude is making shallow recovery attempts on Thursday. The prices registered local lows marginally above the $63 handle on Wednesday and has settled in a range limited by the 100- and 200-DMAs and will likely stay within this narrow channel awaiting fresh signals from the geopolitical front. Traders shifted to profit taking...
Citing fairly decent economic data from the US of late, traders trimmed their easing expectations to nearly 60% from over 90% last week. The latest example of robust figures was manufacturing output which posted a stronger-than-expected 0.5% gain in August. Nevertheless, the Federal Reserve rate cut during today’s meeting looks like a done deal amid the...
While oil market remains the key drivers for the global financial markets, risk sentiment looks subdued, as rising geopolitical tensions in the Middle East curb the appeal of high-yielding assets. Against this backdrop, EURUSD has been on the defensive since the start of the week and has settled around the 1.10 handle. Late last week, the pair failed to get...
Crude oil prices jumped over 15% early on Monday amid the attack on a Saudi Arabian production facility over the weekend. Brent rose above $68 and then retreated partially but remains elevated as traders assess the damage for global oil supplies which declined by over 5% after the attack was on the world's biggest petroleum-processing facility. Meanwhile,...
Oil prices recovered from the recent lows, but the upside potential is still limited due to oversupply concerns. The recent geopolitical developments bode ill for oil bulls as the market surplus is set to grow into the next year and beyond and push the prices towards new lows, according to the recent report published by the International Energy Agency. A...
Oil prices attempt a recovery after a devastating collapse triggered by news that US President Donald Trump considered easing sanctions on Iran. Brent crude settled at $61.25 after a short-lived dip below $61.00 to $60.53; while WTI is changing hands at $56.27 at the time of writing, off the recent low registered at $55.61. The upside momentum offers a...
The euro has recovered from the previous week’s low of $1.0925; however, the upside potential of the single currency is limited as the market players prefer to postpone the investment decision before the European Central Bank delivers its monetary policy decision. At the time of writing, EUR/USD is changing hands at $1.1035, unchanged from this time on...
Saudi Arabia’s decision to replace its energy minister created a sense of uncertainty on the market; however the prices resumed the growth and refreshed new highs on Monday. During early Asian hours on Tuesday, the international oil marker Brent crude hit an intraday high above $63.00 and swiftly dropped to $62.70 by the time of writing. West Texas Intermediate...
British pound attempted a recovery on Monday and reached the highest level since July; however, the upside failed to gain traction. GBP bulls seem to have bumped into a brick wall on the approach to $1.2350 despite some positive developments on Brexit front. Speaking at a press conference with the Irish leader Leo Varadkar, the U.K. Prime Minister Boris...
Gold prices refreshed multi-year highs earlier this week but trimmed gains decently after yesterday’s plunge. The safe-haven demand has abated amid some signs of easing US-China trade tensions as the two countries agreed to resume talks in early October. Besides, dollar demand reemerged after ISM Non-Manufacturing PMI and ADP employment data exceeded...
EURUSD staged a robust rally yesterday and regained the 1.10 figure amid a weaker greenback across the board. The pair registered highs around 1.1040 but failed to extend the recovery on Thursday and shows early signs of a bearish correction. German industrial new orders dropped by 2.5% month-on-month in July from 2.7% MoM in the previous month. On the year,...