FX

Here is what you need to know on Monday, November 30: A busy week kicks off with stocks, gold, and the dollar all edging lower together as November draws to an end. Fresh Brexit optimism is supporting the pound while oil is struggling with OPEC+ disagreements. Vaccine developments and data releases are eyed.  Gold has

Here is what you need to know on Monday, November 30: The American dollar was the worst performer on Friday, falling against all of its major rivals, but the pound. The EUR/USD pair was the best performer, reaching a fresh 2-month high of 1.1963. The GBP/USD pair fell for a second consecutive day as the

GBP/JPY’s reversal from  140.00 area extends to 138.35. Brexit uncertainty and Scotland’s referendum hurt the pound. GBP/JPY eroding trendline support at 138.40. The sterling is trading lower against the Japanese yen for the second consecutive day, giving away most of the ground taken earlier this week. Pound’s reversal from intra-week highs right below 140.00 has

AUD/USD shrugged off negative China trade news on Friday to hit fresh monthly highs. Excellent Australian containment of the Covid-19 pandemic is likely supporting the currency alongside NZD. AUD/USD looks set to end the week on the front foot and at its highest levels since early September of just below 0.7400. On the day, the

Gold lost 4.5% on the week, the worst week since end-September. Stops got triggered after gold breached the $1800 critical threshold. Coronavirus vaccine progress-led economic optimism hammered gold. Gold (XAU/USD) finally breached the critical $1800 support on Friday, closing the week below that level for the first time since July 16. The spot eroded 4.5% of

GBP/USD has dropped to 1.3300 in recent trade, around which it is currently consolidating. No new news appears to have driven the move, though there has been an overarching pessimistic feeling regarding Brexit talks this week. No new news is driving the move, but GBP/USD is back to fresh lows of the day and briefly

Gold continues to feel the pull of gravity after facing rejection at $1818 for two consecutive days. Despite the uncertainty about the coronavirus vaccine development and continued escalation in the infections globally, gold remains vulnerable amid thin trading conditions on Black Friday/ Expectations that the coronavirus vaccines will prompt a swifter global economic recovery in

GBP/USD slides back from monthly highs close to 1.3400, eyes test of 1.3300 support area GBP/USD continues to hit a brick wall at 1.3400, with the pair unable to surpass Asia session highs at 1.3398 during this morning’s European session before the sellers came in drove the action back as low as the 1.3320s. The

OPEC+, a group of major oil producers led by Saudi Arabia and Russia, are leading toward delaying the planned production boost to compensate for a slowdown in economic activity due to the second wave of coronavirus and rising Libyan oil output, sources told Reuters.  Producers were due to raise output by 2 million barrels per

NZD is one of the best performing G10 currencies on Wednesday, with NZD/USD crossing above 0.7000 again amid a softening USD. Month-end flows are likely to be one factor helping NZD, as are recent suggestions for the RBNZ to include house price inflation in its inflation remit. NZD/USD has again rallied north of the 0.7000

The People’s Bank of India (PBOC) injected a net 20 billion yuan into the banking system through open market operations on Wednesday, according to Xinhua.  The central bank poured in 120 billion yuan into the market through seven-day reverse repurchase agreements (repos) at an interest rate of 2.2%, overcompensating for the 100 billion yuan drained

AUD/USD remains on track to close with strong gains. US Dollar Index edges lower on Wall Street rally. RBA’s Debelle says he is not convinced negative rates would work. The AUD/USD pair climbed to its highest level since early September at 0.7368 but lost its traction ahead of the American session. After edging lower toward

NZD/USD ignores RBNZ Governor Orr’s comments on house prices.  The monetary and financial policies alone cannot solve property issues, according to Orr.  New Zealand’s government has proposed adding property prices to central bank’s remit.  Reserve Bank of New Zealand’s (RBNZ) governor Adrian Orr was out on the wires soon before press time, pushing back against

Analysts at Citibank point out  Sentiment remains bullish in sterling with the combination of the most recent (positive) UK COVID developments, a possible Brexit announcement this week (or next) and a less negative rate impetus from the Bank of England together with more fiscal stimulus from the UK government.  Key Quotes: “There’s no doubt that

AUD/USD’s immediate bias is neutral with the pair stuck in a triangle pattern.  A breakout would imply a resumption of the rally from November lows.  AUD/USD is currently trading above 0.7310, representing a 0.16% gain on the day.  While the pair is flashing green, it is yet to exit a two-week ascending triangle, as seen

Here is what you need to know on Monday, November 23: The greenback retained its weak tone against most major rivals, but major pairs held within familiar levels. Market players look beyond macroeconomic data, maintaining the focus in coronavirus-related news. Several front-runner companies developing vaccines to prevent COVID-19 have reported early results from their stage

Silver trades sharply below highs made at the start of the US session, but holds onto decent gains on the day. Significant upside was seen in precious metals markets as US Treasury Secretary Mnuchin spoke prior to the US open. Silver (XAG/USD) started off strong on Friday, rallying through the Asia and European morning session.

NZD/USD appreciates for the third consecutive week to reach a 23-month high at 0.6950. The kiwi trades higher as risk appetite returns. NZD/USD is biased higher and might break above 0.6945 – Credit Suisse. The New Zealand dollar is pulling back on Friday’s late trading after having posted a fresh 23-month high at 0.6950. The pair