FX

WTI briefly surpassed the $49.00/barrel mark on Friday and trades with gains despite equity market downside. Crude traders continue to focus on positive vaccine news and US fiscal stimulus optimism. Crude oil markets are defying downside being seen across US equities on Friday, with front-month WTI futures trading higher by more than a percent and

The yen is marginally lower after posting a December low at 102.88. The USD/JPY pair is expected to consolidate above this level as positive divergence on the daily RSI points to stabilisation, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, briefs.  Key quotes “Since the recent decline in USD/JPY to 102.88 has been accompanied by

Boris Johnson has stated that EU talks are in a serious situation. Reporters Adam parsons states, ”EU diplomatic sources have told me that fishing, rather than the level playing field, is now the most difficult issue in negotiations. Talks are continuing.” Laura Kuenssberg said, ”And the No 10 version – unless the EU budges, we’re

The AUD/USD pair is nearing the long term 38.2% Fibonacci retracement at 0.7639 where it may struggle, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank. Key quotes “AUD/USD continues its advance and nears the 38.2% Fibonacci retracement of the 2011-2020 descent at 0.7639. We would allow for some near-term profit taking to take

Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes “Current policy stance is appropriate.” “Financial conditions are highly accommodative.” “Rate-sensitive sectors

GBP/USD nears the September and current December highs which were made at 1.3483 and 1.3540, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports. Key quotes “GBP/USD is seeing a strong bounce from the 55-day moving average at 1.3158 and nears the 1.3479/83 September and December 9 highs. Key resistance above this area remains the

Here is what you need to know on Wednesday, December 16: The dollar found some market favor at the beginning of the day amid a risk-off mood but ended the day in the red against most major rivals. The sentiment was sour amid fresh coronavirus-related lockdowns in the US and Europe, as e New York Mayor

As the NZ economy’s performance since covid has been impressive, providing fundamental support for NZD outperformance, economists at Westpac target NZD/USD 0.7200 by year-end. What’s more, the kiwi is forecast to surpass the 0.7500 level by mid-2021.  Key quotes “The NZD/USD pair retains potential for slightly further upside near-term, targeting 0.7200 by year-end, although we

EUR/USD bulls remain in the driving seat above daily support. Bulls can look for a continuation towards critical Fibonacci levels.  Bears will be looking for a break of daily support for a weekly 38.2% Fibonacci retracement.  EUR/USD net longs jumped higher, building on the gains of the previous two weeks which leaves a bullish bias

The prevalent upbeat market mood extended some support to AUD/USD on Monday. COVID-19 vaccine optimism undermined the safe-haven USD and remained supportive. Investors might refrain from placing aggressive bets ahead of this week’s FOMC meeting. The AUD/USD pair managed to rebound around 30 pips from Asian session lows and was last seen trading near the

In a joint statement on Sunday, the UK Prime Minister Boris Johnson and European Commission President said that they discussed the key unresolved issues and decided to go for a fresh round of negotiations in order to reach a historic trade deal, the Guardian reported, citing sources who claimed progress was being made. Key quotes

Gold awaits a breakout from the recent trading range. XAU/USD remains locked between 50-DMA and 200-DMA. All eyes on the Fed decision and a potential US fiscal stimulus deal. Gold (XAU/USD) resumed its bearish momentum following a brief recovery from multi-month lows sub-$1800 in the last week. The sellers returned after the metal faced rejection at

Amid looming Sunday’s deadline to clinch a trade deal with the UK, the European Union (EU) member states have been warned not to entertain side deals with Britain, which would ease the consequences of a no-deal Brexit, the Financial Times reported Saturday, citing a diplomatic note. This comes after both the UK Prime Minister Boris Johnson

Following Wednesday’s sell-off, Gold (XAU/USD) traded within the $1825-$1850 range in the balance of the week, settling almost unchanged below $1840. The choppy trading could be attributed to the coronavirus vaccine-driven optimism and US fiscal stimulus headlines.   Heading into a fresh, an elusive US stimulus aid package and the FDA Pfizer’s covid vaccine authorization

NZD/USD is back to the 0.7070s following another trip north of 0.7100. A downturn in the market’s appetite for risk and an uptick in USD is the blame for the Friday slide. NZD/USD managed to set fresh multi-year highs above the 0.7100 level again early on during Friday Asia-Pacific trade. However, since the start of

Here is what you need to know on  The US dollar remains under pressure despite drops a mixed market mood. The fading chances of a US stimulus and Brexit deals are somewhat weighing on markets, with gold retreating. On the other hand, commodity currencies extend their gains, led by the jump in oil prices. US

S&P 500 Index looks to close the day flat. Rising crude oil prices provide a boost to energy stocks. Occidental Petroleum Corp (OXY: NYSE) is the top gainer on Thursday. The S&P 500 Index (SPX) started the day deep in the negative territory but staged a rebound after political headlines from the US suggested that

Investors’ sentiment on the Asian currencies improved to multi-year highs amid expectations that a vaccine-driven economic recovery in 2021 could likely fuel a surge in exports and capital inflows, the latest Reuters poll of analysts and fund managers showed on Thursday. Key findings “Long positions on the Chinese yuan, seen as the anchor for other