The greenback dropped dramatically following the dismal inflation numbers on Thursday. The EURUSD, which also gained on a more “hawkish” Draghi rhetoric, jumped to two-week high of 1.17. However the pair didn’t dare to challenge the psychological level as the knee-jerk market reaction ebbed, but still looks set for another leg higher as the dollar remains on...
Gold prices show indecisive price action on Thursday as the greenback has been consolidating either. Yesterday, the precious metal gained decently following a strong rejection from lows around $1,192. The prices now stay above the 20-DMA and the $1,200 handle which is however not enough to confirm a shift to a recovery mode. Everything depends on the dollar...
The euro reversed its gains from the start of the week and turned lower on Wednesday, despite there is no evident risk aversion in the markets and the dollar demand is rather subdued. EURUSD has got back below the 1.16 threshold and the 20-DMA, down to 1.1570. The local bearish catalyst for the single currency is another dismal economic report from the euro...
Gold prices have been consolidating in a narrowing range lately, with the recent rise in expectations of higher interest rates in the US caps the dismal recovery attempts. Despite the greenback is on the defensive against major counterparts since the start of this week, the yellow metal fails to attract a more robust buying interest and remains close to the...
Pound has staged a short-term spike following the better-than-expected Q2 DGP report, but failed to sustain gains as the manufacturing and industrial production disappointed. After a brief jump to 1.2954, the cable retreated back to opening levels, however keeps above the 1.29 threshold. Apart from the impressive GDP data, the general weaker tone around the...
The greenback declined dramatically against the yen overnight and remains unattractive for buyers on Friday. There is no obvious risk aversion so fat in the global financial markets, but investors are obviously cautious as the new Trump’s tariffs on China are looming as well as another trade war, this time with Japan. So the risk-off sentiment could reemerge...
The pound staged an impressive recovery yesterday, though trimmed intraday gains consequently. GBPUSD continues to move north on Thursday, but remains below the key 1.30 handle so far. The sterling has regained the upside impetus due to a weaker dollar demand coupled with Brexit news. Positive Brexit headlines from Germany have inspired the bulls and...
The dollar bulls are starting to lose the grip on Wednesday as the risk sentiment shows some signs of improvement. However, the buck remains on the offensive generally as the currency refrains from a deeper retreat ahead of new tariff exchange between the US and China due tomorrow. The trade war escalation could send the riskier assets lower once again, while...
Crude oil prices continue to rise on Tuesday, and in the latest move, Brent has pierced the $79 handle and stays elevated despite the signs of overbought conditions start to emerge in the daily charts. The market sentiment remains firmly positive, with Brent has accelerated its ascent even as the greenback demand has picked up today. Traders continue to push the...
The buying pressure on the greenback has eased since Friday rally, but it doesn’t help the pound which remains on the defensive at the start of a new trading week. The GBPUSD pair opened with a bearish gap on Monday, with the price got back below 1.29 and is approaching the 20-DMA at 1.2850. The selling pressure could increase further in the coming days as the...
After the recent rally, the euro may be set for a bearish correction even as the dollar demand is tentative. A number of risk factors for the single currency that could derail its current bullishness and fuel a retreat from the recent highs above 1.17. EURUSD has slipped from August high of 1.1733 earlier this week on some signs of risk-off sentiment...
The risk-on sentiment continues to abate further on Wednesday, with after mixed flows in Asia, European stock markets slumped on Thursday as trade fears start to reemerge. Investors have already digested the progress on NAFTA and now shift focus on the US-China trade war as the next portion of tariffs is looming. As such, the dollar bulls could get back into...
The greenback has recovered partially on Tuesday after a dip to a four-week low against the euro. The EURUSD pair was rejected from the 1.1733 area and retreated to 1.1660 on Wednesday amid profit-taking following an aggressive USD sell-off since the start of last week. The dollar demand seems to be reemerging, partly due to the abating risk-on sentiment as...
Gold prices continue to recover on Tuesday, holding steady close to nearly two-week highs around $1,214. The greenback remains on the defensive, with the selling pressure has intensified in the wake of a trade deal between the US and Mexico. Against the backdrop of a weaker dollar, which suffers a decline amid a risk-on sentiment, the bullion demand has...
The EURUSD pair gained decently last week, with the euro received support both from dollar weakness and a broad rebound in risk appetite. The price has surged to early-August high of 1.1650 earlier on Monday, but the move higher looks to be out of steam for now. The recent bullish catalyst for the pair was the Powell’s speech at Jackson Hole on Friday, with...
The greenback is back on the defensive after yesterday’s recovery. This week, the US currency came under an intense pressure amid Trump’s criticism, and the bulls still fail to regain control as traders are nervous ahead of the key event of this week – Powell’s speech at Jackson Hole. The Fed’s chair testament will set the tone not for USD pairs only, but for...
Crude oil prices enjoyed an impressive rally yesterday, with Brent rose most in two month. The price has edged above the $75 figure, but struggles to stay above this level on Thursday. The corrective moves look limited so far, but the retreat could deepen in the short term. The bullish EIA report served as a catalyst for buyers as the report showed that US...
The dollar has stabilized after a massive sell-off fuelled by recent Trump’s attack on the Fed policy and comments by the central bank official Kaplan who hinted at a pause in tightening. The greenback demand is reemerging gradually ahead of the FOMC meeting minutes release due later today. As such, EURUSD retreats marginally from highs in the 1.16 region,...