FX

Gold futures market suffered for another week as the US dollar gained. XAU/USD might revisit $1,800 if the short term support at $1,820 fails to hold in the coming week. Gold experienced intense selling pressure in the concluded trading week. The precious metal was not able to pick up momentum following the consistent growth of

USD has been strongly supported on what has shaped up to be a very much risk-off Friday. DXY has broken above a key downtrend and eyes a move towards 91.00. USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD

US equity markets closed Friday in the red, the second day of losses in a row. Friday saw quintessential risk-off trade; risk assets sold off and havens were bought on a variety of concerns. US equity markets closed the final trading day of the week in the red, the second day of losses in a row.

Recap DAL had a terrible 2020 down over 30%. Delta is the biggest transAtlantic airline in the world. DAL results comfort nervous holders and Wall Street analysts. As it was mentioned in December what a perfect storm Delta (DAL) faced in 2020 with the pandemic and global lockdowns effectively making it a black swan event

The dollar index trades largely unchanged on the day near 90.25.  The US President-elect Joe Biden unveils the coronavirus rescue plan, promises support to small businesses.  The dollar index, which tracks the greenback’s value against major currencies, is barely moving in response to the US President-elect Joe Biden’s ongoing unveiling of the aggressive coronavirus rescue

The Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth in 2021 unchanged at 5.9 million barrels per day (bpd) in its latest monthly report, per Reuters. Additional takeaways “US shale supply outlook is now slightly more optimistic with rising oil prices, the output is seen recovering more in the second

EUR/USD’s downturn from the Jan. 6 high of 1.2349 has stalled with sellers struggling to keep losses below 1.2140. That level has restricted downside at least three times in the past 72 hours and has neutralized the immediate bearish bias. A positive follow-through in the form of a quick move above 1.2223 (Wednesday’s high) would

DXY resumes the upside following Tuesday’s negative close. The continuation of the uptrend is expected to meet 91.00. After bottoming out in fresh lows near 89.20 earlier in the new year, the dollar managed to regain moderate buying attention and extended the move to the vicinity of 90.70 earlier in the week. If the bullish

EUR/USD battles the upper end of recent trading range. Bulls cheer upside break of one-week-old falling trend line amid upbeat MACD. 200-hour EMA guards immediate upside, sellers may look for entries below previous resistance line. EUR/USD picks up bids near 1.2208 during Wednesday’s Asian session. In doing so, the quote keeps the recent choppy trading

USD/CHF edged lower on Tuesday and retreated further from the 0.8915-20 supply zone. Positive technical indicators favour bullish traders and support prospects for further gains. A sustained move beyond trend-channel resistance is needed to confirm the positive bias. The USD/CHF pair witnessed some selling on Tuesday and eroded a part of the previous day’s positive

WTI fades bounce off 50-HMA while staying near 11-month top. Strong SMA supports keep oil buyers hopeful despite RSI’s downside bias. One-week-old resistance line guards immediate upside, 200-HMA adds to the downside filters. Although 50-HMA probed WTI pullback from February 2020 top, the oil benchmark eases to $52.12 during Tuesday’s Asian trading. Considering the quote’s

USD/JPY edged higher for the fourth consecutive session on Monday. The set-up supports prospects for a move towards the 104.75-85 zone. The USD/JPY pair built on last week’s rebound from the vicinity of multi-month-old descending channel support and gained some follow-through traction on Monday. This marked the fourth consecutive day of a positive move and

GBP/NZD has a compelling technical case for a downside extension.  Bears eyeing a break of dynamic support.  In a prior and recent analysis, GBP/NZD Price Analysis: Bears seek an extension to 1.8580, GBP/NZD was grinding higher for a 38.2% correction on the daily chart.  Prior analysis In the above daily chart, the price was forecasted to

Gold sold-off 2% on Friday, loses $56 on the week. XAU/USD could see a quick pullback before the downside resumes. Daily RSI has pierced through the midline, into the bearish zone. Gold (XAU/USD) recovered some ground into the weekly closing, although booked a 2% loss on Friday. The sell-off knocked-off the metal to the weakest levels

EUR/USD briefly dropped below 1.2200 in recent trade but has since recovered back to trade in the 1.2220s. EUR/USD has broken below a short-term upwards trend channel that had been in play since December 2020. EUR/USD briefly dropped below the 1.2200 level in recent trade, a move that coincided with the Dollar Index (DXY) rising

Gold (XAU/USD) wilted on Friday as Treasury yields surged on strengthening risk-on flows amid expectations of higher fiscal stimulus under Biden’s presidency. Prospects of a smooth transition of power in Washington eased political uncertainty, which further added to the weight on the safe-haven gold. The metal lost $70 and touched three-week lows at $1828.62 before

Friday saw the S&P 500 and Nasdaq 100 hit and close at all-time highs. “The market is now anticipating a massive amount of stimulus, a CARES act part two and a massive infrastructure program”. A downbeat jobs report for December was broadly ignored, with the market “living in the future”. Friday saw the S&P 500

During 2020 the Indian rupee depreciated against the US dollar from 71.375 to 73.548. For the year ahead, economists at MUFG Bank expect the rupee to extend its decline while current account balances are set to decline from 2020’s record surplus.  See –  USD/INR Price Forecast 2021: Indian rupee’s four boosters to bolster its recovery