FX

It was a choppy day, but EUR/USD ultimately finished above the 1.2100 level. USD saw weakness during US trading hours as risk appetite improved. It was a choppy final trading day of the week for EUR/USD; the pair sold off during early European trading hours, dropping below its 21-day moving average at the 1.2100 level

Gold is likely to open trading on Monday in losses, especially if the critical ascending channel’s middle boundary support breaks. The MACD has reinforced XAU/USD’s bearish outlook on the daily chart. Recovery will come into the picture if gold closes the day above the middle boundary support. Gold has continued to struggle amid a stronger

All three major US indices closed at record highs on the long US weekend. The fundamental backdrop remains very much bullish, as has been the case now for two weeks running. All-time closing highs for everyone! The party on Wall Street continues and the major US indices rounded out the week with a bang; the

AUD has rallied back into the green above 0.7750 in recent trade, despite news of Melbourne’s new lockdown. The Aussie is the best performing G10 currency on the week. AUD/USD has rallied from session lows in the 0.7220s to trade back in the green and above the 0.7750 mark on the final trading day of

According to advanced readings from CME Group for natural gas futures markets, traders added around 26.4K contracts to their open interest positions, reaching the fourth consecutive build on Thursday. On the flip side, volume extended the choppy performance and went down by nearly 9.3K contracts. Natural Gas could retreat to the $2.73/MMBtu area Natural Gas

AUD/USD bears need a break of support to confirm a downside bias.  Bulls are in charge while testing deeper into the weekly resistance.  AUD/USD bulls are in charge on the long-term time frames, but a close below resistance will open prospects of a retracement of the daily bullish impulse.  The following is a topdown analysis that

CME Group’s preliminary readings for crude oil futures markets noted traders increased their open interest positions for the second session in a row on Wednesday, this time by around 7.3K contracts. Volume, instead, shrunk by around 222.3K contracts after two consecutive daily builds. WTI faces a tough barrier at $60.00 The rally in crude oil

GBP/JPY briefly topped the 145.00 level for the first time since December 2019 on Wednesday. The pair looks set for a ninth week of successive gains, as GBP continues to benefit from vaccine optimism. It was business as usual for GBP/JPY on Wednesday; the pair continued to grind to fresh post-start of pandemic highs and

FX Strategists at UOB noted the uptrend in EUR/USD could re-visit the 1.2150 region in the next weeks. Key Quotes 24-hour view: “The strong surge in EUR that sent it to soaring and the subsequent strong daily closing of 1.2117 (+0.57%) came as a surprise. While overbought, the rally as room to move above 1.2150

AUD/USD looks set for a third successive day of gains, boosted by a weaker US dollar. The pair is currently testing a downtrend linking the January highs, a break above which would be a bullish signal. AUD/USD looks set for a third successive day of gains as the currency pair makes the most of a

CCIV merger speculation keeps investors thinking! CCIV one of Reddit-driven retail stocks for 2021. Churchill Corp subject of merger speculation with Lucid Motors. Update: Churchill Capital Corp IV (NYSE: CCIV) dropped nearly 6% to settle below the $33 mark on Monday, having found strong support just above $30. The shares of the blank-check company corrected lower

EUR/GBP is a little higher on the day but has fallen back from highs in the 0.8790s. There has been a lack of fundamental catalysts on Monday as the pair looks ahead to events later this week. EUR/GBP has been relatively uneventful on the first trading day of the week; the pair rallied as high

Gold Price Analysis: XAU/USD trades under 50-week SMA Gold (XAU/USD) is trading near $1,808 per ounce at press time, having failed to keep gains above the 50-week Simple Moving Average (SMA) hurdle at $1,815 early Monday.  Last week’s rejection at the trendline falling from August and November highs, coupled with the below-50 reading on the

What you need to know on Monday, February 8: The greenback gave up ground on Friday, ending the week with uneven results. The catalyst was a mixed US employment report, which showed a tepid job creating a downward review to December figures, but an improving unemployment rate. Commodity-linked currencies were able to post modest weekly

It was a solid day at the end of what has been a very solid week on Wall Street. The S&P 500 and Dow posted five days in the green in a row. The Nasdaq 100 and S&P 500 both hit fresh all-time highs on Friday. A solid day at the end of what has

NYSE: GME has kicked off Wednesday’s trading with a surge of some 20% to above $100.  Bargain-seekers are jumping on GameStop Corp after it lost 60%. Retail traders on WallStreetBets have been split over the move to silver. Update: GameStop (NYSE: GME) is for a second consecutive day of moderate gains – an increase of roughly

USD/JPY dropped for the first time in eight days after hitting its highest levels since October 2020. The US dollar fell following downbeat NFP data, but yen was weighed by higher US yields and risk on. USD/JPY posted its first day in the red in eight, after the USD slumped to the bottom of the

The January Canadian employment report showed a decline in net jobs of 213K in January, a number below expectations. According to analysts at the National Bank of Canada, the numbers reflect the impact of new restrictions put in place to slowdown the COVID-19. Key Quotes: “The January employment pullback, a second in a row, was