EURUSD rose yesterday after the ECB meeting was not as dovish as many feared. The pair briefly jumped above the 1.13 handle and has settled below the 100-DMA since then. On Friday, the euro is under some pressure again as dollar demand moderately picks up ahead of the major event of the week. Market participants are eagerly awaiting the US NFP employment...
After a brief jump above 1.13, EURUSD turned lower on Wednesday following three days of gains and finished at daily lows around 1.1220. The pair volatility rose ahead of today’s ECB meeting as traders are nervously awaiting fresh signals from the central bank. Some market participants expect the regulator to announce new stimulus, citing the fact that the ECB...
Gold rallies for a fifth day in a row, with prices jumped above $1,335, touching a 3.5-month high on Wednesday. The ascent accelerated after a break above the 100-DMA and the $1,300 psychological resistance. Now, the bullion can target the $1,340 handle. The main driver behind the ongoing rally in the precious metal is a weaker dollar. The greenback faced...
The greenback continues to retreat against the major rivals on Tuesday. EURUSD pair jumped to April 18 highs around 1.1275, where the 100-DMA lies. The pair sees the third day of gains as the selling pressure around the common currency has eased after it found a bottom marginally above the 1.11 handle earlier last month. The negative pressure on the dollar...
In May, Brent lost over 10% and is now down nearly 20% from peaks, registered in late April. On Monday, prices extended the drop, touched $60.75 for the first time since February, and clings to the $61 handle. Risk aversion continues to dominate in the global markets, including oil. Further escalation in the US-China trade tensions and Trump’s aggressive...
USDJPY extended losses below the 109.00 and registered four-month lows at 108.75 amid a widespread risk aversion in the global financial markets that traditionally fuels the safe-haven yen demand. The pair turned lower once it failed to challenge the 110.00 barrier earlier in the week. 10-year yields are down by 3.7 bps to 2.177%, while US equity futures are...
After a brief dip to the $66.60 area, Brent trimmed losses and recovered to the $68 figure yesterday. On Thursday, the prices are clinging to this level but lack the impetus to stage a more sustainable rebound amid the ongoing trade war between the US and China, the two largest consumers of oil. The latest API report brought some relief to investors as the...
Despite the ongoing US-China trade tensions, gold failed to capitalize on its safe-haven status and challenge a strong technical resistance at $1,290 and slipped to $1,276 yesterday. On Wednesday, the bullion has recouped nearly all previous losses but the rebound looks unsustainable as the greenback continues to rise from multi-week lows. The recent dynamics...
EURUSD remains under pressure for a second day in a row on Tuesday as the sentiment around the common currency remains fragile since the start of the week. The pair failed to settle above the 1.12 level once again and had to retreat to daily lows around 1.1175. Dollar sees a recovery against major rivals, which coupled with the EU-Italian budget woes turned...
Last week, USDJPY fell decently from the 100-DMA around 110.70, but once again managed to hold above the key 109.00 support area. The pair was driven by safe-haven yen demand amid escalation in the US-China trade war coupled with the general dollar weakness. The greenback is making some bullish attempts on Monday, however, the upside potential looks limited as...
The U.S. dollar came under strong selling pressure as poor macroeconomic data coupled with rising tensions between the U.S. and China took the gloss off the greenback in investors' eyes. The U.S. Dollar Index (DXY) collapsed below 98.00 amid growing concerns over the health of the American economy and the side effects of the US-Sino trade war on the global...
The British pound has been a big loser recently, which is hardly a surprise to anyone. The British Prime Minister Theresa May is still struggling to get her Brexit deal through the parliament, while the opposition increasingly calls for her to resign. The degree of political and economic uncertainty skyrocketing, making it virtually impossible for the corporates...
Oil prices extended the decline on Wednesday and headed for the most prolonged sell-off period since the end of April amid growing concerns that the trade spat between the U.S. and China will slow down the global economic growth and hamper the oil demand. In a separate development, the American Petroleum Institute (API) published a weekly report on U.S. crude...
The Swiss Franc has been nursing losses since late New York session on Monday as traders took SNB's intervention threats close to heart. The bearish momentum was prompted by intervention fears as the Swiss National Bank stands ready to step in if it deeds necessary to ensure the market stability, according to the recent comments of Thomas Moser, the...
The Australian Dollar snapped a five-days long sell-off on Monday after a surprise win for Scott Morrison in elections over the weekend. The country's ruling Liberal-National coalition headed Prime Minister Scott Morrison managed to stay at the helm in what is considered to be a miracle victory as Labor party had been widely expected to win. The shock...
USDJPY made some bullish attempts early on Friday but faced rejection from one-week highs around the 110.00 figure and turned negative on the day after a brief relief yesterday. The pair retreated closer to mid-109.00s, where is received a short-term support in the form of the 100-hour moving average. The yen’s safe-haven status if further underpinned by the...
Brent futures finished decently higher for the second consecutive trading day on Wednesday. Today, the prices extend gains, with Brent is challenging the $72 barrier again, having registered a daily high of $72.30. The short-term technical picture looks constructive at this stage. The EIA report was mixed yesterday but traders decided to focus on positive...
After two days of losses, EURUSD makes recovery attempts on Wednesday but the rebound looks unsustainable and the common currency is still vulnerable. Following a rejection from early-May highs around 1.1260, the prices struggle to stay above the 1.12 handle. German Q1 GDP came in as expected at 0.4% q/q. This is the first quarter growth since Q2 2018. The...