FX

NZD/USD is consolidating just above the 0.7250 level, lower as a function of the stronger US dollar. Amid a lack of any New Zealand specific fundamentals, NZD/USD has traded mostly as a function of dollar flows this week. NZD/USD has flatlined in recent trade just to the north of the 0.7250 level, having slipped back

The greenback continues to recover, and the USD/JPY pair trades at daily highs above the 103.60 price zone. More near-term gains are at sight with next resistance seen at 103.90, as FXStreet’s Chief Analyst Valeria Bednarik notes. Key quotes “The pair’s strength comes from government debt yields, which surged to multi-month highs on Wednesday, following

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USD/CAD is falling for the second straight day on Wednesday. WTI trades in the positive territory above $50. USD selloff remains intact ahead of US data, FOMC Minutes. The USD/CAD pair closed in the positive territory on Tuesday as surging crude oil prices helped the CAD outperform its rivals. With the oil rally remaining intact

WTI eases after refreshing the highest since February 25, 2020. API stockpiles recede from previous draw to -1.663M during the latest week. OPEC+ agreed over Russia, Kazakhstan output hike but not what they asked for, Saudi Arabia prepared for voluntary production cut. Risk headlines will be the key, China Caixin PMI, EIA data are important

GBP/USD Forecast: Imposition of third lockdown in UK could cap the upside The GBP/USD pair witnessed a dramatic turnaround on the first trading day of 2021 and retreated over 160 pips from the 1.3700 mark, or fresh 32-month tops. The early positive move was exclusively sponsored by sustained US dollar selling bias and seemed rather

The Dow Jones Industrial Average lost 382.59 points, or 1.25%, to 30,223.89. The S&P 500 SPX fell 55.42 points, or 1.48%, to 3,700.65. The Nasdaq Composite lost 189.84 points, or 1.47%, to 12,698.45. US stocks were falling at the start of the year while investors watched two Senate runoff elections in Georgia and ultimately showed their

Gold is off weekly tops but holds gains above $1930. Overbought conditions on the 4H chart warrant caution for the bulls. $1940 and $1950 still remain on the buyers’ radars. Gold (XAU/USD) holds the higher ground near eight-day tops of $1935, as the bulls gather pace for the next push to the upside. As observed in

During the 47th meeting of the Joint Technical Committee (JTC), OPEC Secretary-General Mohammad Barkindo noted that crude oil demand will shift from reverse to forward gear and rise to 95.9 million barrels per day (bpd) this year, a gain of 5.9 million bpd from 2020. Even so, the OPEC leader also raised concerns over the inventory levels while saying that inventory

EUR/USD gives up some ground after reaching a fresh 2020 high on Wednesday at 1.2309. The pair is quiet in ultra-thin market conditions as the world celebrates Year-End but the rally is set to continue, according to FXStreet’s Chief Analyst Valeria Bednarik. Key quotes “The US has just released Initial Jobless Claims for the week

Wall Street’s main indexes trade little changed on Thursday. US stock markets will close early on New Year’s eve.  S&P 500 Energy Index is down nearly 1%. Major equity indexes in the US started the day near Wednesday’s closing level as trading volume remains thin on New Year’s Eve. As of writing, the Dow Jones

Spot silver prices are off highs set during Asia Pacific trade and thus trade lower on the day. The technical picture looks bullish, however, though further gains are likely to wait until January. Spot silver was the best performing precious metal in 2020 after years of underperformance. Spot silver (XAG/USD) prices broke to the upside of

EUR/USD is posting modest daily losses on Thursday. Profit-taking ahead of the New Year holiday seems to be weighing on the EUR. EUR/USD is up more than 2% for the second straight month in December. After closing the previous four trading days in the positive territory, the EUR/USD pair edged slightly lower on the last

GBP/USD is finishing the year on the front foot amid a weaker USD. Sterling traders continue to mull the themes of UK lockdowns, vaccination and continued Brexit negotiations into 2021. GBP/USD is finishing the year on the front foot, with the pair crossing above the 1.3650 mark for the first time since May 2018 and

Gold have the best year since 2010, rising $350 or 22%. XAU/USD continues to test the $1900 area, a critical short-term resistance. Gold is about to end the year with a bullish bias, testing the $1900 barrier, supported by a US dollar decline. It gained 22% over the year and hit a record high at

Daily technical and trading outlook – GBP/USD GBP/USD – 1.3641.. Sterling was the strongest G4 currency vs usd y’day, price met renewed buying at 1.3494 (AUS) n climbed steadily to 1.3615 in Europe , despite a brief pullback to 1.3573 in NY, cable hit 1.3626 at the close. On the bigger picture, despite cable’s brief

GBP/USD has ground higher throughout the day on Wednesday as the US dollar has come under pressure. The pair recently printed fresh annual highs in the 1.3620s. GBP is amongst the outperforming G10 currencies today amid UK vaccine optimism. GBP/USD printed fresh annual highs in the 1.3620s in recent trade. The pair has been moving

Sustained USD selling bias pushed EUR/USD to fresh 32-month tops on Wednesday although the momentum ran out of steam near the 1.2300 mark amid thin trading volumes. The next relevant target for bulls is pegged near 1.2340 area, FXStreet’s Haresh Menghani reports. Key quotes “Relatively thin liquidity conditions on the back of year-end holidays help