FX

The S&P 500 sold off in the final hour of trade and S&P 500 futures ended the week close to lows. Uncertainties regarding US politics and the Fed’s emergency lending facilities, coupled with further lockdown concerns weighed. Following a choppy session, the S&P 500 sold off in the final hour of trade, ultimately ending the

GBP/USD has been marching higher in hopes of a Brexit deal. Vaccine news is to continue competing with covid statistics in a new week set to be dominated mostly by Brexit once again. The Federal Reserve’s minutes, updated US growth figures and forward-looking UK surveys will be also eyed, FXStreet’s Analyst Yohay Elam reports.  Key

The US oil storage tanks are filling up again amid the rising number of coronavirus cases and approaching levels reached following April’s oil price crash, according to Bloomberg.  Stockpiles at Cushing, Oklahoma, the delivery point for West Texas Intermediate (WTI) futures, stood at 61.6 million barrels as of Nov. 13, or about 81% of capacity

Gold has been under pressure in recent days, hit most recently by news that AstraZeneca is joining Moderna and Pfizer/BioNTech in reporting upbeat vaccine results. If the world is heading toward immunization from COVID-19, the need for fiscal and monetary stimulus is diminishing.  On the other hand, the virus continues spreading, causing economic damage which

AUD/USD fails to respect highly positive Aussie employment report as risk dwindles. One-week-old horizontal support can add to the downside filters, 0.7340/45 becomes the key resistance. AUD/USD remains depressed near 0.7290, down 0.10% intraday, during the early Thursday. The pair earlier bounced off an intraday low after Australia’s October month employment data offered a positive

Silver prices have been choppy on Wednesday, swinging between gains and losses, and recovering sharply from late European morning lows at $24.20. XAG/USD has been consolidating within a pennant structure this month and looks subject to breakout.    Spot silver prices (XAG/USD) have been choppy on Wednesday, swinging between gains and losses, but have broadly continued

NZD/USD dips as risk sentiment sours on coronavirus concerns.  Rising cases overshadow optimism stemming from encouraging vaccine trials.  Dovish Federal Reserve expectations restrict losses in Kiwi. NZD/USD is flashing red on Tuesday as concerns over rising coronavirus cases and prospects of fresh lockdowns dampen the euphoria from vaccine trial breakthroughs. The pair is currently trading

NYSE: PFE is falling again, responding to coronavirus vaccine competition. Pfizer Inc’s cheaper immunization cost may help it get an edge.  A COVID-19 vaccine distribution pilot in four states could also help the firm gain traction.  Being first does not mean staying on top – Pfizer Inc (NYSE: PFE) and BioNTech SE (BNTX)  stunned the world by

The OPEC+, a group of major oil producers led by Saudi Arabia and Russia, should consider delaying its planned output boost by three to six months, a technical panel advising ministers suggested, according to Bloomberg.  In an online meeting held Monday, the Joint Technical Committee concluded that the resurgence of coronavirus and new wave of lockdowns

The European Commission will authorise the coronavirus vaccine deal with CureVac on Tuesday, EU Commission President Ursula von der Leyen said on Monday and noted that the deal will include 400 million doses, as reported by Reuters. “We hope to finalise a deal soon on Moderna COVID vaccine,” von der Leyen added.  Market reaction These comments don’t

NZD/USD tracks equities higher, rises 0.65% in Asia.  Risk assets rise on coronavirus vaccine optimism and ASEAN trade deal.  The NZD/USD pair jumped over 40 pips on Monday as the coronavirus vaccine optimism lifted the US stock futures and drew bids for the risk currencies such as the NZD. The pair found buyers near 0.6840

Here is what you need to know on Monday, November 16:  The US continues to report record coronavirus infections. On  Friday, the country informed over 184K new cases in the past 24 hours, while US President Donald Trump announced the imminent distribution of COVID-19 vaccines. The announcement was taken with a pinch of salt and

GBP/USD put in a strong performance into the weekend close, rallying over 80 pips or more than 0.6%. News that UK PM Johnson’s Eurosceptic advisor Cummings had resigned early and positive Brexit updates helped. GBP/USD trades just below the psychological 1.3200 level heading into the weekend close, with the pair having gained 80 pips today,

Gold closed last two days of the week in the positive territory. XAU/USD lost more than 3% for the week. Gold could continue to push higher with a daily close above $1,900. The XAU/USD pair closed the last two days of the week in the positive territory but closed below $1,900. On a weekly basis,

EUR/GBP rebound from 0.8860, rejected at 0.9000. The pound appreciates after UK’s top adviser Cummings announces his exit. Euro’s recovery from week-lows at 0.8860 has been rejected at 0.9000 and the pair pulled back to 0.8960 area on Friday, on track to close the week with a 0.7% loss. The sterling appreciates as Brexit deal

“The baseline is that further stimulus will be approved to help a more targeted group of people,” St. Louis Federal Reserve President James Bullard said on Friday, as reported by Reuters. Additional takeaways “Households still have a lot of resources in aggregate, though a ‘K’ shape of recovery means some may need more help.” “Recession likely only

WTI drops as coronavirus resurgence in the US revives lockdown fears.  OPEC+ is reportedly considering a three to six-month delay to a scheduled output boost.  The US oil prices fell during Friday’s Asian trading hours, extending a two-day losing trend as concerns over rising coronavirus infection overshadowed reports of major producers mulling a delay in

Gold regained traction on Thursday and recovered the previous session’s modest losses. COVID-19 jitters, sliding US bond yields, weaker USD remained supportive of the uptick. Investors might refrain from placing aggressive bets ahead of Powell’s scheduled speech. Gold edged higher during the early North American session and refreshed daily tops, around the $1880 region post-US macro