FX

EUR/USD remains on the defensive well below 1.1800. Investors’ attention stays on US politics, pandemic. ECB-speak, EMU’s Industrial Production next of relevance. EUR/USD alternates gains with losses in the 1.1740 region and reverses the initial drop to multi-day lows near 1.1730 on Wednesday. EUR/USD now looks to data, ECB EUR/USD is down for the third

Here is what you need to know on Wednesday, October 14: The American dollar surged on resurgent risk aversion. The usual themes were brought to trading tables, as investors were concerned about the absence of a US coronavirus stimulus package, no progress in Brexit talks, and the continued increase in coronavirus cases which weighs on

The pace of CNY appreciation following the re-opening of Chinese markets after the Golden Week holidays likely caused a degree of concern among officials. Consequently, the People’s Bank of China (PBoC) announced the lowering of the risk reserves ratio for FX forwards trading (from 20% previously to 0%). Economists at TD Securities see the PBoC

Here is what you need to know on Tuesday, October 13: The greenback appreciated in slow motion at the weekly opening but ended a dull Monday down against most major rivals. China set the yuan fixing at 6.7126, weaker than expected, while the PBOC lowered the FX risk reserve ratio to zero. The country “unveiled

Traders trimmed their open interest positions in Natural Gas futures markerts for the fourth consecutive day on Friday, this time by nearly 9.8K contracts in light of advanced prints from CME Group. On the opposite side, volume extended the choppy activity and went up by almost 59K contracts. Natural Gas prices now target $3.00/MMBtu Prices

Here is what you need to know on Monday, October 12:  Hopes for a US coronavirus stimulus package led the way at the end of the week. The greenback came under strong selling pressure, ending the week with sharp losses against most major rivals. White House advisor Larry Kudlow said that US President Donald Trump

According to the latest data published by the French Health Ministry on Saturday, the number of new coronavirus cases in the country soared by a record high of 26,896, bringing up the tally to 718,873. France reported 54 new deaths as the total fatalities rose to 32,684. Meanwhile, the UK recorded 15,166 new coronavirus cases,

The People’s Bank of China (PBOC) will slash its reserve requirement ratio (RRR) to zero for some forex exchange forwards trading, effective from Monday, the central bank said on its website this Saturday. The PBOC said: “The People’s Bank of China (PBOC) will continue to maintain flexibility in the exchange rate, stabilize market expectations, and

Gold (XAU/USD) settled the past week at two-week highs of $1930.60, having recorded the second straight weekly gain. The yellow metal tracked the rally in stocks amid a broad US dollar sell-off, induced by the increased expectations of the US policymakers agreeing on a comprehensive fiscal stimulus deal. Heading into a fresh week, gold traders

Previewing next week’s key events in the UK, TD Securities analysts noted that the UK wants to finalize the outline of a deal with the EU by October 15. Key quotes “There are high expectations for some high-level give & take to finally push negotiations over the line and into the infamous “tunnel.” However, we

The UK Finance Minister Rishi Sunak is set to announce the next phase of the job support programme on Friday, cited a ministry spokeswoman. The spokeswoman said: “The chancellor will be setting out the next stage of the job support scheme later today that will protect jobs and provide a safety net for those businesses

The price of gold has moved up to test a key resistance structure.  A 1:8 R/R trade setup example has been triggered on the move as the last resort for the bears.  Gold prices are testing the bear’s commitments and resilience on failed downside price action. Gold and DXY technical analysis A bullish case for the

CME Group’s advanced prints for Natural Gas futures noted open interest shrunk for the second session in a row on Wednesday, now by nearly 21K contracts. On the other hand, volume reversed the previous drop and rose by around 198.1K contracts. Natural Gas remains capped by $2.80/MMBtu Wednesday’s positive performance of Natural Gas was amidst

The price of gold could have played into the hands of the bears seeking a discount.  A 1:3 R/R 4-hour bearish swing trade was activated on the bid.  Gold prices rallied on dollar weakness following mixed messages pertaining to the US President Donald Trump’s tweets about fiscal stimulus.   Gold and DXY technical analysis A bullish case for the

The tax cuts announced in Australia’s annual budget will not come into effect until December this year, said the Treasurer Josh Frydenberg in a press briefing in Canberra on Wednesday. Key quotes  “The stimulus would not be seen in the incomes of Australians until December.” “The advice to us … is that people will receive

Most of the $22.6 billion year-to-date increase in the United States trade deficit is due to a spike in gold imports,  US Trade Representative (USTR) Robert Lighthizer said on Tuesday. “US President Trump’s trade policy is working in spite of the virus, August trade data reflects a strong performance of the US economy compared to trading partners,”

A month before election day, Biden’s lead remains consistently solid, rising marginally in rolling average of polls whereas outside of average of polls, some of the most recent results show a record double-digit lead for Biden. Meanwhile, Electoral College projections are similar to early September: Biden leads but still many toss-up states. Trump’s recent COVID-19

S&P 500 Index remains on track to register strong daily gains. Regeneron Pharmaceuticals Inc (REGN: NASDAQ) shares are up more than 6%. Major cruise liner stocks are posting heavy losses. The S&P 500 Index (SPX) started the new week sharply higher on positive developments surrounding US President Donald Trump’s condition and preserved its bullish momentum.