FX

Open interest in god futures markets increased by around 1.9K contracts and reversed six consecutive daily pullbacks on Monday, according to flash data from CME Group. In the other direction, volume resumed the downtrend and shrunk by around 32.5K contracts. Gold now looks to $1,860 Prices of the ounce troy of gold met decent support

What you need to know on Tuesday, February 23: The American dollar fell against all of its major rivals, amid renewed market’s optimism. The greenback seesawed between gains and losses moving alongside Treasury yields, which reached fresh YTD highs, falling sharply during US trading hours. The British Pound got a boost from UK Prime Minister

DXY reverses the recent downside and re-tests 90.50. US 10-year yields approach the key 1.40% mark. Chicago Fed Index, Dallas Fed Index, Fedspeak next on tap. The greenback, when tracked by the US Dollar Index (DXY), starts the day on a positive footing and advances to daily highs in the mid-90.00s on Monday. US Dollar

What you need to know on Monday, February 22:  The greenback weakened against most of its major rivals, with AUD and GBP soaring to fresh multi-year highs. The American currency edged lower despite US Treasury yields resumed their advances and finished the week at their highest in a year. Wall Street closed mixed on Friday,

Morgan Stanley’s Chief Cross-Asset Strategist Andrew Sheets predicts gold to fall further from the current levels even though inflation is set to rise in 2021. Key quotes (via Kitco News) “Morgan Stanley’s economists forecast US inflation to rise a little over 2% over the next two years. So, this is hardly the runaway type of scenario for inflation

Weekly closing above Nov 30 low offers a ray of hope for XAU/USD. The bearish bias remains intact until gold stays below 21-DMA. The recovery mode could extend into Asia’s weekly opening. Gold (XAU/USD) staged an impressive bounce Friday, having hit the lowest in seven months at $1761 in the Asian trades. Despite the corrective pullback,

The S&P 500 and Nasdaq 100 both posted their fourth straight day of losses on Friday. But the former remains supported above 3900 as the macro backdrop remains positive. Rising US bond yields have been a cause for concern this week, however, and this was evident on Friday. The S&P 500 ended the session with modest

Toward the end of trading Friday, the Dow traded up 0.09% to 31,520.48 while the NASDAQ rose 0.02% to 13,868.58. However, the S&P fell 0.18% to 3,906.96. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 27,896,700 cases with around 493,110 deaths. India confirmed a total

The GBP/USD pair staged a strong advance, before turning ahead of the 1.4000 mark. Terence Wu, FX Strategist at OCBC Bank, expects the cable to test the 1.4000 level again. Key quotes “The push-back of rate cuts by Bank of England’s Saunders and the imminent phased lifting of lockdown measures in the UK provided the

EUR/USD Bears looking to the 1.2000 level as price meets resistance. A 38.2% Fibonacci confluence with structure puts focus on the downside.  Further to the prior analysis, EUR/USD Price Analysis: Bulls looking for significant upside correction, the cross has indeed completed the M-formation as follows: Prior analysis Prior analysis, 1-hour chart Live market, daily chart Live

NYSEAMERICAN:SENS adds over 20% on Tuesday. Senseonics investors continue to await FDA approval for its continuous glucose monitoring device. SENS has spiked on no apparent news, SEC filings today show no new info. Update February 18: Senseonics Holdings Inc (NYSEAMERICAN: SENS) has been changing hands at around $.395 in Thursday’s premarket session, up some 4% –

Minutes of the FOMC’s January 26-27 meeting revealed on Wednesday that policymakers noted that the pace of the recovery in economic activity and employment had moderated in recent months. Key takeaways as summarized by Reuters “Policymakers noted economic conditions are currently far from longer-run goals, need to remain accommodative until achieved.” “All participants supported the January

Gold (XAU/USD) witnessed some heavy selling on Tuesday and dived to levels below the $1800 mark. Bears await a break below monthly swing lows, around the $1785 before the next leg down, FXStreet’s Haresh Menghani reports. Key quotes “The bearish pressure seems to have abated, at least for the time being, though the near-term bias

Midway through trading Tuesday, the Dow traded higher by 0.14% to 31,502.73, while the NASDAQ fell 0.47% to 14,029.30 and the S&P slid 0.08% to 3,931.52. The seven-day average of new covid-19 cases declined by 23% from a week earlier to around 85,200, with daily deaths related to the infection holding steady at about 3,000,

AUD/USD edged higher on Tuesday, albeit struggled to find acceptance above 0.7800 mark. The prevalent bullish sentiment undermined the safe-haven USD and benefitted the aussie. Surging US bond yields helped limit the USD losses and capped any further gains for the pair. The AUD/USD pair retreated around 30 pips from one-month tops and refreshed daily

Gold is extending to the downside from critical resistance. Support is key at this juncture which the battle between technical and fundamentals play out.  In a follow-up to the prior analysis, Gold Price Analysis: Bulls slammed at critical resistance, focus is on weekly target again, the price is indeed melting, albeit slowly. Fundamentally, analysts at

Here is what you need to know on Monday, February 15: The market mood is upbeat amid optimism about upcoming US stimulus and upbeat vaccine developments, most evident in oil’s ascent above $60. Bitcoin has retreated from near $50K while US and Chinese holidays cause thinner volume. US Stimulus: The US Senate acquitted former President

What you need to know on Monday, February 15: The American dollar fell on Friday as Wall Street soared, with the three major indexes posting record closes, and long-term bond yields reaching one-year highs. Poor US employment-related data and comments from Federal Reserve’s officials, indicating a long way ahead of reaching full employment, were behind