HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Month: January 2021
Oil prices extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as an industry report showed U.S. inventories fell last week. Brent crude rose 85 cents, or 1.6%, to $54.45 a barrel at 1050 GMT, its highest level since Feb. 26, 2020, after
Yen selling takes center stage today, following strong rise in global treasury yields. In particular, US 10-year yield is trading at 0.99 at the time of writing, after hitting 1.037 earlier. Dollar remains generally pressured, and even the recovery against Yen is weak. The surprised contraction in ADP employment is definitely not giving the greenback
Private payrolls in December contracted for the first time since the early days of the coronavirus pandemic, according to a report Wednesday from ADP. The decrease of 123,000 provided a sign that the U.S. economy had cooled considerably heading into the end of 2020. Economists surveyed by Dow Jones had been expecting growth of 60,000.
GBP/JPY keeps bounces off short-term horizontal support, 100-bar SMA. MACD flirts with bulls as the quote keeps Wednesday’s gains. A Three-week-old ascending trend line lures the bulls. GBP/JPY prints mild gains above 140.00, currently around 140.25, during Thursday’s Asian session. In doing so, the pair retains the early week’s recovery moves from late-December lows and
AUD/USD trades to a high of 0.7815, the highest level since March 2018 For bank trade ideas, check out eFX Plus The market continues to stick with the reflation narrative on the session and that is leading to equities climbing higher after a bit of a pullback earlier on. Tech may be bearing the brunt
Latest data released by Markit/CIPS – 6 January 2021 Composite PMI 50.4 vs 50.7 prelim The preliminary report can be found here. A slight downwards revision as services activity is seen declining for a second month in a row, albeit marginally. That said, the data here doesn’t hold much significance as Q1 economic prospects have
Popular wallet provider and crypto trading platform Blockchain.com has announced it will be delisting XRP and suspending its trading next week, following in the steps of Coinbase, Binance.US, OKCoin and others. Although, as of press time on Jan. 6, Blockchain.com’s information on supported crypto assets continues to feature XRP, a blog post published on Jan.
NEW DELHI: Gold and silver futures prices in the domestic market traded with cuts on Wednesday amid uncertainty around elections in Georgia, which will decide how easy it will be for US President elect Joseph Biden to take decisions during his presidency. Polls closed in Georgia’s dual runoff elections that will determine both control of
The global reflation theme of 2021 should continue to support AUDUSD. With the cash rate at the effective lower bound, RBA also extended asset purchases worth of AUD100B until mid-2021. Yet, it appears that there is little the central bank can do to curb the currency strength. Risks from trade frictions with China are limited
USD/CAD is falling for the second straight day on Wednesday. WTI trades in the positive territory above $50. USD selloff remains intact ahead of US data, FOMC Minutes. The USD/CAD pair closed in the positive territory on Tuesday as surging crude oil prices helped the CAD outperform its rivals. With the oil rally remaining intact
A break looks inevitable US 10-year yields have pushed to the upside in the past few hours but they’re still within the recent range. In the bigger picture though, the series of higher lows approaching 1%, paints a picture of a market getting ready to bust higher. If Democrats sweep tonight, that move will be
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Saudi Arabia has offered to make voluntary cuts in its oil output in February in a bid to persuade fellow OPEC+ producers to hold steady amid concerns that new coronavirus lockdowns will hit demand. Two OPEC sources said Saudi Arabia made the offer on Tuesday at a meeting of OPEC+, which combines OPEC producers and
Dollar weakens again in rather quiet markets today. But there is no committed selling so far, as the greenback is staying inside yesterday’s range. European majors also soften, on lockdown concerns, and shrug of solid German economic data. Commodity currencies are stronger in general, even though risk markets are rather sluggish. US futures are pointing
NZD/USD wavers in a choppy range between 0.7250 and 0.7260 after refreshing multi-month high the previous day. Return of risks refreshed US dollar declines, backed commodities and Antipodeans, NZ GDT also favored buyers. Noise surrounding China ignored, vaccine hopes battle virus woes. China’s Caixin Services PMI, Georgia runoff will be important to watch. NZD/USD buyers
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