FX

USD/JPY trades 0.18% higher on Friday and 1% higher on the week. There was a strong rejection of 104.00 to the downside. USD/JPY daily chart USD/JPY does not seem to like trading below 104.00 as there seems to be a quick recovery as soon as the level is pierced. The key level on the chart

NZD/USD continues to push lower in early American session. US Dollar Index rose to a fresh two-month high above 94.70. Durable Goods Orders in US increased at a softer pace than expected in August. The NZD/USD pair met a fresh bearish wave in the early American session and dropped to a daily low of 0.6528.

Gold sell-off pauses as US dollar retreats from two-month high Gold bears are taking a hiatus amid the US dollar’s pullback from two-month highs. The yellow metal witnessed two-way business and closed on a flat note on Thursday, forming a Doji candle – an indecision sign.  The selling ran out of steam at $1,848 as

British Finance Minister Rishi Sunak said on Thursday that unemployment is expected to continue to rise in the UK and noted that they are acting before a “tricky, difficult winter economy,” as reported by Reuters. Additional takeaways “We always stand ready to do what’s necessary.” “We are ready to do more if needed.” “We cannot

USD/CAD looks to build on Wednesday’s rally. Dollar strength, oil price-weakness remain supportive. Focus shifts to the US macro news, Day 3 of Powell’s testimony. The USD/CAD pair extends its bullish consolidative mode just shy of the 1.3400 level so far in Thursday’s Asian trading, taking cues from the US dollar price action. The spot refreshed six-week

A combination of factor kept exerting pressure on gold for the third consecutive session. Technical selling below the $1900 horizontal support contributed to the ongoing downfall. Gold maintained its offered tone through the early North American session and was last seen trading around the $1880 region, just above six-week lows touched earlier. The precious metal

EUR/USD’s daily chart shows a head-and-shoulders bearish reversal pattern.  Key indicators support the case for deeper declines.  EUR/USD is currently trading below 1.17, having declined from 1.1773 to 1.1690 on Tuesday.  Notably, the pair closed well below 1.1770 on Tuesday, confirming a head-and-shoulders breakdown on the daily chart.  The bearish reversal pattern has created room for

S&P 500 ideally holds below resistance at 3319/29 to keep its immediate risk lower for a deeper corrective setback to 3204/00, potentially the 200-day average at 3104, analysts at Credit Suisse apprise. More: Key quotes “The S&P 500 gapped sharply lower on Monday at the open and although the market subsequently managed to recover a

NZD/USD consolidates the previous day’s losses from the seven-day low of 0.6651. Virus-led risk aversion remains as the key driver, US dollar strength cheered the most. Traders seem to prepare for Wednesday’s RBNZ, Fedspeak can offer intermediate moves. NZD/USD struggles for a clear direction near 0.6665 during Tuesday’s Asian session. The pair dropped the most

S&P 500 has fallen as expected to test its key medium-term 63-day average, now at 3292. Although this is holding at present, the risk is seen for a close below 3292 with next supports seen at 3285/80 and then 3260/59, per Credit Suisse. More: S&P 500 Index needs further fiscal support to avoid a correction Key

NZD/USD has corrected from fresh highs as markets eye the RBNZ this week. The optimism of a fast recovery from the deepest recession in decades has buoyed the bird. NZD/USD is currently trading at 0.6758 in a quiet start to the week in Asia, oscillating between a low of 0.6752 and 0.6768. With an upside correction in

The troy ounce of the precious metal closed the week modestly higher at $1,950 but struggled to make a decisive move in either direction. Following its September policy meeting, the Federal Reserve kept its policy rate unchanged as expected and adopted a relatively more optimistic tone with regards to economic recovery. However, the greenback struggled

EU rejects the UK Internal Market Bill – of course! On Thursday Boris Johnson’s Conservative government published their proposed changes to the internal market bill. The bill has received parliamentary approval (House of Commons) but is set to go to the House of Lords to see if the bill is passed into law. The bill would

XAU/USD failed to make a decisive move in either direction this week. $1,925 aligns as a critical support for gold. The descending triangle on the daily chart points out to a bearish outlook. The troy ounce of the precious metal fluctuated in a relatively tight range throughout the week and closed with a gain of

Gold is trading 0.34% higher after another slow week. The Fed did the precious metal no favours with no changes in policy. Gold daily chart Gold has had another tough week as the Fed disappointed the market with no real additional information about the new policies. There was one thing of now as the dot

EUR/USD has been advancing as the dollar pares some of its Fed-related gains but US consumer sentiment and coronavirus headlines from Europe may reverse the recovery, in the opinion of FXStreet’s analyst Yohay Elam. See – EUR/USD maintains the sideways range with resistance seen at 1.1868 – Credit Suisse Key quotes “The Fed signaled no rate rises

WTI fizzles the run-up above $40.00 after flashing two-week high of $41.48. Overbought RSI conditions, strong SMA probe the bulls. Sellers await a clear downside break of 61.8% Fibonacci retracement level around the $41.00 area. WTI consolidates the recent gains to $41.48 within a choppy range above $41.00, currently up 0.20% around $41.30, during the

GBP/USD Forecast: BOE may compound the Fed and trigger greater downfall The Brexit bonanza has proved short-lived – Pound bulls prematurely celebrated Prime Minister Boris Johnson’s climbdown before the Federal Reserve sent the safe-haven dollar higher. Now it is the Bank of England’s turn to move cable – and potentially tilt it lower. PM Johnson