GBPUSD is the pair of the week, as it appreciated 4th day out of the last five. The market is full of rumors and hopes. On Wednesday, the British newspapers reported that there were chances to see some draft agreement by next Monday. It means that the officials can be just in time for EU summit scheduled for the next week. There are speculations that a...
GBP keeps outperforming EUR as the market feels the taste of Brexit deal in the air. There are still some issues related to Irish border, confirmed by UK spokesman James Black. His confirmation that the actual deal has yet to be done sent GBPUSD lower during the day to 1.3060 area. However, many investors are unwilling to send the pound lower, as there is the...
USD/JPY is on radar as it managed to lose 150 points during the last 3 days, with 100 pips losing on Monday. There were speculations that the key trigger of the pair move was risk-off sentiment in the financial markets, with Italian budget woes pressuring the stock markets. However, it hardly correlates with AUD and NZD moves that managed to add around 40...
The greenback has pulled back on Thursday after the initial rally across the board. The EURUSD pair regained the 1.15 figure, while the cable jumped above 1.30 due to dollar correction coupled with signs of stabilization in Italy and some positive Brexit developments. However the last trading day of the week may bring some adjustments in dollar pairs after...
USDJPY retreats from fresh 2018 highs registered at 114.54 earlier in the day. Yesterday, the pair jumped aggressively and pierced the 114.00 handle for the first time early-November 2017. The rising US Treasury yield is behind the widespread dollar strength, while the current pair’s retreat from tops is due to the prevailing risk-off sentiment in the global...
The greenback remains supported after some correction attempts earlier in the day on Wednesday. The Fed officials’ rhetoric confirms the central bank’s commitment to further gradual tightening which helps the USD index stay close to six-week highs registered yesterday. The EURUSD pair is still under pressure despite the reports that Italy may offer...
The crude oil markets are further supported by the looming US sanctions on Iran that are set to start on November 4. From its lows registered in August, Brent has risen by 20%, mostly on concerns that some additional shortfalls could tighten the already balanced market further. Apart from Iran, traders fear that Venezuelan production will continue to decline,...
The pound has stopped its aggressive decline on Monday, with the pair is trying to recover its ground and find a bottom in the 1.30 area. The latest relief came from surprisingly strong UK PMI data. The manufacturing index rose 53.8, above the expected 52.5, after three months of slowing. The prior result was revised higher to 53 from 52.8. Moreover, the output...
The EURUSD extends its slide on Friday after sharp losses yesterday, as traders are digesting the developments in Italy. The government approved a controversial budget, which aims for a deficit of 2.4% of GDP in 2019.The markets expected that the deficit would be below 2%, in line with EU rules. Moreover, the number may get even higher as the budget is debated...
Brent crude extends its gains on Thursday, with price has refreshed four-year highs marginally below the $82 handle which is the immediate target for bulls now. The barrel has trimmed gains later but remains in the positive territory staying afloat above $81. The key drivers for the market are expectations of the US sanctions on Iran as well as OPEC’s...
Gold price continues its one-month consolidation with few signs of a more robust breakthrough in either direction in the daily charts. However, the upcoming FOMC decision could bring a more aggressive price action in the precious metal market, depending on the dollar direction. There is some pick up in dollar demand in the short-term charts, which keeps the...
The greenback is under pressure against the European counterparts on Tuesday, with EURUSD is back on the way to 1.18, though the impetus looks rather limited for the time being. Traders have already digested slightly more “hawkish” Draghi’s statement, and now the markets are preparing for the FOMC meeting that concludes tomorrow. The probability that the US...
The EURUSD pair is back on the offensive after a brief dip late last week. The price is trading around 1.1770 on Monday, but the recovery impetus looks limited due to some risk events due later this week. Besides, the euro’s upside potential is capped by a slight risk-off tone in the global markets. On Wednesday, the FOMC will announce its two-day meeting...
The greenback is mixed on Friday and remains unsettled in general despite a rise in the US Treasury yields. The EURUSD pair has briefly probed the 1.18 figure a break of which could open the way to 1.20. The price remains close to June highs but refrains from another bullish wave after yesterday’s aggressive rally. Apart from dollar weakness, the single...
Crude oil prices continue to grind higher on Thursday, with Brent has settled around the $79 figure after a brief jump to $79.30 earlier in the day. The price remains in the positive territory and looks set for further rise with the key target at $80. Talks of $80 Brent help the prices to stay elevated as following the comments by Saudi Arabia, similar...
The pound briefly jumped to fresh two-month high of 1.3175 in a knee-jerk reaction to strong UK inflation data. The headline consumer price index rose to its highest levels in six months and was a surprise for markets. However, GBPUSD failed to sustain gains and partially retreated, in part due to the fact that there was much summer-related boost to the CPI for...
Crude oil price action looks unstable these days, with Brent tends to grind lower since reaching a peak above $80 last week. The barrel has rebounded after a brief dip towards $77 support earlier on Tuesday and jumped aggressively to $78.80 recently on the reports that Saudi Arabia said to prefer Brent above $80. However, the asset remains vulnerable to losses...
The greenback started the week on the defensive as part of a marginal profit taking after a rally on Friday fuelled by strong US economic data. Despite the upside impetus has abated, the buck stays afloat as investors anticipate another escalation of the US-China trade war which could trigger another sell0off in the riskier assets. US is reported to impose...