The Australian dollar is showing little movement in the Wednesday session. Currently, the pair is trading at 0.7706, down 0.08% on the day.
Australia's economy has recovered from the Covid-induced downturn more quickly than expected. The country has contained Covid quite well, and global demand for Australian exports is growing. The impressive economic recovery...
The euro has rebounded on Tuesday, erasing most of the losses seen on Monday. Currently, EUR/USD is trading at 1.1901, up 0.46% on the day.
The euro had its way with a wobbly US dollar late in 2020 and pushed close to the 1.23 line in late February. However, the euro has been under sustained pressure since then. EUR/USD is barely hanging onto the 1.19 level and...
The Japanese yen has started the week with considerable losses. Currently, USD/JPY is trading at 108.82, up 0.51% on the day.
The yen's woes continue, as the US dollar continues to beat up on the Japanese currency. USD/JPY has jumped 5.6% since January 1 and is pressing on the 109 line, which has held since June 2020. The catalyst behind the recent strength of...
Thursday's OPEC+ meeting became a market-mover event, as members announced that production cuts would be extended in April. This caught the market completely off guard, as OPEC+ was widely expected to raise output by 500,000 barrels per month. Instead, OPEC+ has opted to hold back some 9.2 million barrels from the market each day, until at least the beginning of...
The Australian dollar has recorded slight gains in the Thursday session. Currently, the pair is trading at 0.7790, up 0.23% on the day.
Retail sales climbed 0.5% in January, which followed the December gain of 0.6%. These are by no means earth-shattering numbers, but the two consecutive gains are welcome news after back-to-back declines of around 4 per cent. The...
The British pound is almost unchanged for a third straight day. Currently, GDP/USD is trading at 1.3964, up 0.07% on the day.
Pound stabilizes below 1.40
The British pound is in tranquil waters this week, after the currency slid 1.5% late last week. The catalyst for the steep drop was the sharp jump in US Treasury bonds, which boosted the US dollar. However,...
The British pound is almost unchanged for a third straight day. Currently, GDP/USD is trading at 1.3964, up 0.07% on the day.
The British pound is in tranquil waters this week, after the currency slid 1.5% late last week. The catalyst for the steep drop was the sharp jump in US Treasury bonds, which boosted the US dollar. However, with US Treasuries retreating,...
The euro is showing limited movement in the European session. Currently, EUR/USD is trading at 1.2035, down 0.10% on the day. The euro hasn't managed a winning day since Thursday, and the pair is perilously close to the 1.20 line, which is a psychologically important level.
Germany is the eurozone's largest economy and has traditionally been the economic...
The Canadian dollar has kicked off the trading week with strong gains. Currently, USD/CAD is trading at 1.2669, down 0.55% on the day.
US yields moved higher last week, particularly the 10-year treasuries, which rose as high as 1.6% per cent. This move boosted the US dollar against the major currencies, and USD/CAD climbed close to 1% last week. However, bond...
The Canadian dollar has kicked off the trading week with strong gains. Currently, USD/CAD is trading at 1.2669, down 0.55% on the day.
US yields moved higher last week, particularly the 10-year treasuries, which rose as high as 1.6% per cent. This move boosted the US dollar against the major currencies, and USD/CAD climbed close to 1% last week. However, bond...
The dollar has been in a long term downtrend against the loonie but that may be about to change.
The greenback came back into favour on Friday after a period of softness which saw it fall to its lowest level against its Canadian counterpart for around three years.
Rising oil prices can often be supportive for the Canadian dollar and likely contributed to its...
What a difference one short day can make in the currency markets. It was just yesterday that the red-hot Australian dollar crossed above the 80-level for the first time since February 2018. The Aussie was once again treating its US counterpart as a punching bag, posting impressive gains of 4.3% in the month of February. The US dollar index has been weakening, and...
The pound has been on an incredible run against the dollar, smashing through 1.40 over the last week and gathering momentum to extend its gains.
When you look at where price is compared to the moving averages, there is an argument that the move is now quite overextended and perhaps poised for consolidation or a correction. But the MACD and stochastic just don't...
Rising bond yields are bad news for gold, which is trending lower as borrowing costs continue to spike.
A strong global economic recovery comes at a cost and what we're seeing in bond markets is indicative of investors belief that the recovery is going to be very powerful indeed and bring with it inflation. The Fed and others have sought to play down the...
Oil prices have enjoyed a remarkable rally over the last four months as the world has gone from entering the most severe wave of Covid-19 to rolling out vaccines and planning its final exit from the restrictions.
Efforts by OPEC+ have been key to this, including the surprise one million barrel cut from Saudi Arabia earlier in the year, which confirmed the group...
It's been a few weeks since EUR/USD broke below the neckline of its head and shoulders and the response since has been a little sluggish, to say the least.
The trend was starting to look very favourable for the dollar as it enjoyed a bit of a resurgence, taking out the neckline of a head and shoulders pattern in the process.
Since then, it came back and tested...
The pound has continued its impressive run against the dollar in recent weeks, despite the greenback having performed quite well against other currencies.
We've seen growing optimism around the UK economy this year following an impressive early rollout of the Covid vaccine which will enable the economy to reopen sooner and the recovery to be more...
Gold fell into bearish territory last week but since then, it appears to have found some support. Was it a false breakout or will the downtrend gather pace?
I see little reason to think that we're seeing a resurgence in gold currently. The rebound coincided with a drop in the dollar after the US jobs report, which may have provided a convenient profit taking...
