FX

EUR/GBP is bearish on the daily and 1-hour time frame.  Bears waiting for bearish conditions on the 15-min time frame EUR/GBP has crossed below the prior day’s lows which leaves a bearish bias on the cross from where bears can start to scan the lower time frames for an opportunity.  The following is a top-down

USD/CAD witnessed some fresh selling on Wednesday and snapped two days of winning streak. The prevalent USD selling bias was seen as one of the key factors exerting pressure on the pair. The loonie seemed rather unaffected by weaker oil prices as the focus remains on BoC decision. The USD/CAD pair edged lower through the

In fitting with a subdued mood to FX trade on Tuesday, USD/JPY trades flat just above 104.00. JPY has shrugged off domestic news and focused on key risk events later in the week. FX markets are fairly tentative on Tuesday, as markets seemingly look ahead to key risk events later in the week such as

FX Strategists at UOB Group noted the positive outlook for EUR/USD, which continues to target the 1.2200 level. Key Quotes 24-hour view; “We expected EUR to ‘edge downwards within a lower range of 1.2090/1.2160’ yesterday and we were of the view ‘a sustained decline below 1.2090 is not expected’. EUR subsequently dipped to a low

White House economic adviser Larry Kudlow said on Monday that there are a lot of conversations going on regarding the coronavirus aid bill and added that odds are improving for an agreement, as reported by Reuters. Additional takeaways “The US economy is much stronger than the last jobs report.” “There are threats to the V-shaped recovery with

Upbeat Chinese trade balance data extended some support to AUD/USD on Monday. Softer risk tone drove some haven flows to the USD and kept a lid on any strong gains. Hopes for additional US fiscal stimulus might cap the USD and help limit the downside. The AUD/USD pair lacked any firm directional bias and remained

Major US equity bourses rallied into the close of US cash trade, each closing at record highs and SPX nearly surpassing 3700. A soft US labour market report was seen as boosting the chances of fiscal stimulus given, hence was taken as good news. President-elect Biden calls for stimulus and suggests any deal this year

Gold rebounds massively from the lows traded in November. A break above the 100 SMA on the 4-hour chart will help validate the expected spike to 1,875. Gold’s price recently broke out of a descending wedge pattern. This breakout shifted the bulls’ focus upward after support at 1,760. Several resistance levels delayed the recovery, including

DXY pairs losses in the final hours of FX trade and manages to close in the green close to 90.80. However, DXY still closed the week with steep losses of just over 1.0%. The Dollar Index (DXY) picked up into the Friday FX market close, closing the final trading day of the week close to

US yields have risen and the yield curve steepened since softer than expected US jobs data, pushing USD/JPY higher. USD/JPY has climbed above 104.00, with risk on equity market flows also supportive. USD/JPY has risen back above the 104.00 level in wake of Friday’s US labour market report for November. The pair is off 104.23

The French Junior European Affairs secretary Clément Beaune has said there is a risk there will not be a Brexit deal. He added that Paris would veto any deal it does not deem satisfactory, confirming reports of denial from Paris, first circulating early on Thursday. His comments follow reports that the UK is frustrated with

XAG/USD under pressure as the greenback corrects from 2.5-year lows. Markets attention is now turning to the Federal Reserve. The announcement of three viable vaccines weighs on safe-havens. XAG/USD is currently trading at $24.0125 and under pressure, losing 0.33% on the day at the time of writing.  The commodity has traded between a range of

Here is what you need to know on Thursday, December 3: The US dollar remains on the back foot amid a mix of positive and adverse developments. US coronavirus cases and worsening relations with China weigh on sentiment, while stimulus and vaccine hope boost sentiment. Brexit and OPEC+ talks and NFP hints are eyed.  US

S&P 500 Index looks to close the day little changed. NetApp Inc stock rises sharply on upbeat earnings figures. Salesforce.Com Inc suffers heavy losses after company announces Slack acquisition. After closing at a fresh all-time high on Tuesday, the S&P 500 Index (SPX) started the day in the negative territory but didn’t have a hard

UOB Group’s FX Strategists noted EUR/USD could now attempt to visit the 1.2200 level in the next weeks. Key Quotes 24-hour view: “Our expectation for EUR to consolidate was wrong as it staged a sudden and sharp rally and cracked the major resistance at 1.2011 (high in Sep). The breach of the key resistance resulted

USD/JPY bulls denied as the greenback suffers another blow.  The yen is an attractive safe haven into an uncertain December for stock markets. Yen long positioning has bounced back and spot is firming also.  USD/JPY is trading at 104.35 between a range of 104.18 and 104.57, flat on the day following a partial round-turn with the

CME Group’s preliminary figures for crude oil futures markets showed open interest increased for yet another session on Monday, this time by around 5.8K contracts. Volume followed suit and went up by around 107.2K contracts after two daily pullbacks in a row. WTI could recede to $43.00/bbl Prices of the WTI extended the correction lower

USD/TRY is ripening for a long opportunity to target a bullish extension of the last bullish impulse.  Bears are in control for the time being and environment needs to shift on the lower time frames.  USD/TRY has been a complicated series of the price action of late, but the following is an illustration of how