FX

EUR/GBP pares losses and returns to 0.9100 area. The pound loses ground with investors growing cautious about the Brexit talks. EUR/GBP unlikely to drop below 0.8800 over the coming months – Rabobank. The euro has pared previous losses on Friday after bouncing from 0.9000 lows earlier this week and appreciate about 0.7% on the day returning

GBP/USD has stabilized amid mixed PMI and US political uncertainty but sterling could stumble as Brexit is a double-edged sword, according to FXStreet’s Analyst Yohay Elam. Key quotes “Friday is the day when Chief EU Negotiator Michel Barnier provides his weekly assessment of the talks, and he could point to a lack of meaningful progress

NZD/USD bulls have been stopped in their tracks by the miss in the CPI data. The US dollar found a lease of life on Wall Street, bulls encouraged by data. New Zealand’s Consumer Price Index was released in recent trade which has changed the bird’s flight trajectory in early Asia. At the time of writing,

The euro has benefitted from the broad-based weakening of the US dollar so far this week. It has helped to lift EUR/USD back towards the middle of the trading range between 1.1600 and 1.2000 that has been in place since late July. The shared currency has held up well recently even as eurozone fundamentals have

The latest coronavirus (COVID-19) updates from the US and Australia have been worrisome and adds to the fears of a wider wave 2.0. As per Reuters’ tally, 12 out of 50 US states have reported record daily increases in deaths so far in October. The report also mentions that 26 states have reported a record

EUR/JPY moved sharply higher again on Tuesday, however, only a break above 125.11 would end the corrective risks for the core bull uptrend to resume, in the opinion of the Credit Suisse analyst team. Support stays at 123.03/01, then 122.38/23.  Key quotes “EUR/JPY rebounded further on Tuesday after essentially holding above the potential uptrend from

Early Wednesday morning in Asia, South Korea’s Yonhap quoted US Secretary of Defense Mark Esper while terming North Korea as the rogue nation. The comments from the American diplomat also suggested that the world’s biggest economy needs to further enhance his country’s alliances and defense capabilities, per the news. Other than citing the threats from North

NYSE:NIO fell 2.98% on Monday as broader markets dropped. Recent announcements from Tesla may show that NIO is gaining momentum in the electric vehicle sector. A further JP Morgan upgrade shows how much optimism Wall Street has. NYSE:NIO has seen its week-long spike come to an end as shares fell during Monday’s trading session amidst

AUD/JPY remains on the back foot after six consecutive days of declines. Bearish MACD, inability to bounce back beyond the key Fibonacci retracement suggest further downside. AUD/JPY drops to 74.48 during the early Tuesday morning in Asia. The pair bounced off 74.52 to 74.95, before declining to 74.40, the previous day. In doing so, the

The outcome of the presidential election and the composition of Congress will have material implications for fiscal policy, the economic outlook and markets. Prediction markets and polls suggest a blue tide is the most likely outcome. As blue wave probabilities firmed the yield curve steepened, equities rallied and the safe-haven USD declined, though reduced odds

NZD/USD begins the week’s trading with an upside gap beyond 0.6600. Jacinda Ardern secured an emphatic victory in general elections by securing 49.1% votes. China passed a law to restrict controlled exports, US stimulus deadlock, virus woes continue. Risk catalysts can keep the driver’s seat despite the important China data dump. NZD/USD struggles to keep

Gold is likely to open next with gains targeting 1,940 if the 50 SMA resistance is broken. An ascending parallel channel and the 100 SMA work hand in hand, providing short term support. Gold closed the week’s trading at 1,900 after a minor correction from the weekly high at 1,914. The precious metal has gradually

AUD/USD’s recovery attempt has been capped right below 0.7100 The previous support level turned resistance and the 50-hour SMA are limiting upside attempts. On the downside, 0.7055 level is supporting the pair. The Australian dollar has dropped nearly 2% this week weighed by US dollar strength amid a generalized rush for safety. The pair extended its

GBP/USD trims losses and closes the week above 1.2900. The pound shrugs off Boris Johnson’s call for a no-deal Brexit. The sterling has shown resilience on Friday and managed to trim previous losses against the US dollar despite UK PM Boris Johnson’s plea to prepare for a no-deal exit from the European Union. The pound

Gold turns positive for the third straight session amid a modest USD weakness. The uptick lacked any strong follow-through and warrants some caution for bulls. Investors now look forward to the US macro data for some trading opportunities. Gold quickly reversed an early European session dip to the $1903 region and has now moved back

Gold appreciates to levels near $1,910 and turns positive on the day. Investors’ concerns about COVID-19 and Brexit have boosted demand for gold.  Gold prices are pushing higher during the late US session on Thursday, reaching session highs in the vicinity of $1,910 in spite of the generalized US dollar strength. The precious metal seems

EUR/USD loses the grip and drops to the 1.1700 area on Thursday. Markets’ attention will be on the EU Summit on Thursday and Friday. ECB’s Lagarde, US Claims, Philly Fed index next of relevance in the docket. The single currency resumes the downside and drags EUR/USD to fresh weekly lows in the 1.1710/00 band in

The Dow Jones Industrial Average lost 0.58%. The S&P 500 fell 0.66. The Nasdaq Composite dropped 0.8%. Wall Street’s three major benchmarks fell on Wednesday as hopes faded away that an agreement for a fresh stimulus package could be reached in coming weeks. Downbeat comments from Treasury Secretary Steven Mnuchin kicked the bulls into touch