FX

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Silver (XAG/USD) has rallied to and failed at the three-month downtrend at 26.00. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, is unable to rule out losses to the 200-day ma at 20.22 but 21.64/63 is still acting as a decent support. Key quotes “Silver has rallied to and so far failed at

AUD/NZD prints four-day losing streak, probes one-week low. RBNZ’s Orr sounds optimistic even as the central bank announced additional LSAP, starting December LFP will be active. Risks remain mixed, Aussie Westpac Consumer Confidence eased for November. AUD/NZD bears attack 1.0600, down 0.52%, after RBNZ Governor Adrian Orr marks resilience on economic activity amid the early

The Reserve Bank of New Zealand (RBNZ) is scheduled to announce its Monetary Policy Statement on 11 November at 01:00 GMT and as we get closer to the release time, here are the forecast by the economists and researchers of seven major banks regarding the upcoming central bank’s meeting. The RBNZ is likely to keep

AUD/JPY drops from the eight-week high, flashed on Monday, as China’s CPI, PPI print downbeat figures for October. Weekly support line, 200-bar SMA lure the bears. AUD/JPY drops to 76.35, down 0.47% intraday, during early Tuesday. The pair reversed from the multi-day high the previous day while China’s October month Consumer Price Index (CPI) and

After Joe Biden’s victory, Germany will try to get a new start to trade policy with the US, German Economy Minister Peter Altmaier said on Monday, as reported by Reuters. “We will try to find a new common ground with the US and reach an agreement,” Altmaier added. “We are trying to de-escalate the existing conflicts

GBP/JPY trades near 136.22 versus 135.75 in early Asia.  The weekly candle favors stronger gains toward an SMA hurdle.   GBP/JPY is currently trading near 136.22, representing a 0.28% gain on the day, having carved out an inverted hammer last week.  The candlestick pattern indicates that the pullback from the October high of 137.85 has ended

A wedge pattern on the 4-hour chart hints at a potential reversal to 1,900. Gold sends mixed signals ahead of the new week’s trading; a rally to 2,000 is possible. Gold spiked significantly this week and brushed shoulders with 1,960. The instability witnessed in the stock market saw the precious metal used as a hedging

Joe Biden has been elected the 46th President of the United States according to Fox News, AP, ABC, NBC, and CNN.  The former Vice-President has pulled ahead in Pennsylvania. The latest batch of votes from the Keystone State put Biden ahead by around 34,000 votes ahead of President Donald Trump. Here is the official post

Gold is on the verge of a rally to 2,000, especially if the US election tension spills into next week. Support at 1,950 is key to ensuring that buyers keep their eyes on the ultimate prize, 2,000. Gold rallied significantly this week amid tension regarding the United States 2020 presidential election. The precious metal closed

XAU/USD rallies 4% on the week to reach $1,960 highs. Risk appetite boosts gold demand and sends the USD tumbling. Gold futures have ticked higher on Friday to reach seven-week highs at $1,960. Bullion has appreciated nearly 4% on the week boosted by USD weakness amid post-US election risk rally. XAU/USD rallies on risk appetite

Unemployment Rate in Canada fell modestly in October. USD/CAD retreated to 1.3050 area after the data.  Net Change in Employment in Canada rose by 83,600 in October, compared to analysts’ estimate of 100,000, and brought the Unemployment Rate down to 8.9% from 9% in September, Statistics Canada reported on Friday. This reading missed the market

WTI extends pullback from the monthly high of $39.55. Early-October lows lure the bears, the falling trend line from August 26 adds to the upside barriers. WTI drops to $38.73, down 0.91% intraday, during early Friday. The black gold surged to the highest since October 27 the previous day, before taking a U-turn from a

The flexibility and the speed of action in dealing with pandemic impact need to be maintained, European Central Bank (ECB) member Mario Centeno said on Thursday, as reported by Reuters. “The ECB will next month recalibrate instruments to support recovery,” Centeno added. “One of the measures to be considered is the potential expansion of asset purchases.”

Silver prices print mild gains after Wednesday’s downbeat performance. A three-week-old falling trend line on the bulls’ radars, weekly support line blocks sellers’ entry. MACD suggests further recovery but a clear break of $24.50 becomes necessary. Silver picks up the bids near $24.05, up 0.64% intraday, during Thursday’s Asian session. In doing so, the white

Private sector employment in US rose at a softer pace than expected. US Dollar Index stays below 93.50 after the data.  Employment in the US’ private sector rose by 365,000 in October, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.  This reading followed September’s increase of 753,000 (revised

GBP/USD is feeling the pull of gravity as the safe-haven US dollar is drawing bids, with The New York Times and other media outlets reporting that President Trump is leading in the key state of Florida.  The currency pair has declined by more than 100 pips to hit a low of 1.30 in the past 60 minutes

A combination of factors continued weighing on USD/CAD for the second straight session. The USD witnessed aggressive long-unwinding trade ahead of the US presidential election. A strong rally in crude oil prices underpinned the loonie and aggravated bearish pressure. The USD/CAD pair dived to one-week lows, around the 1.3140-35 region during the mid-European session, albeit