GBP/USD outlook: Bulls regain traction but more evidence needed to signal reversal Cable regained traction on Friday after negative tone prevailed during this week, with three-day drop ending with a hammer candle that generated initial bullish signal. Fresh advance nearly fully reversed losses of this week but needs lift above pivotal barriers at 1.3887/97 (falling
Month: July 2021
USD/CAD pushes for more gains after yesterday’s turnaround Invest in yourself. See our forex education hub. The turnaround and further retracement in oil prices yesterday helped to flip the loonie on its head, as USD/CAD went from being lower in European trading to pushing back towards 1.2500 in North American trading. The pair closed below
Daily thread to exchange ideas and to share your thoughts As the bond market starts to turn around today, the question on everyone’s lips now is whether or not the short squeeze has finally ran its course. It is still too early to say what this latest bounce really means but as always, keep an eye on
NEW DELHI: Gold edged higher on Friday and was set for its third straight weekly gain, as concerns over the fast-spreading Delta variant of Covid-19 and a drop in US Treasury yields lifted the safe-haven metal’s demand. The yellow metal posted mild gains in domestic markets. Sentiment in wider equity markets remained fragile as Delta
Yen and Swiss Franc turn softer today as overall sentiments stabilized. US stocks once again pared back much of earlier losses overnight and closed just slightly down. Asian markets were just mixed only, with Nikkei also reversing most of earlier losses. Dollar is currently the stronger one for today, followed by commodity currencies. As for
FX option expiries for July 9 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1800 1.3b 1.1850 1.1b 1.1875-85 1.7b 1.1900 719m 1.1915 343m – USD/JPY: USD amounts 111.25 530m – AUD/USD: AUD amounts 0.7500 575m 0.7550 754m 0.7600 536m – USD/CAD: USD amounts 1.2350 600m 1.2500 898m
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This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. China crackdown: Week 7 The summer of crackdowns continued this week, making it seven weeks since the initial announcement on May 18 that
10-year Treasury yields sink below 1.30% Invest in yourself. See our forex education hub. The bond market continues to flash a warning sign to the rest of the market as we now see 10-year yields sink below 1.30% to its lowest since February. The retreat since the FOMC meeting in June has been rather swift
Is the reflation trade really dead? If you take a look at commodities and commodity currencies, the peak of the trade came around mid-March. Energy has been an exception but that’s a result of OPEC+ (oil) and hot weather (natural gas). It’s a similar story in equities where growth/tech re-took leadership from value/cyclicals around the
NEW DELHI: Gold in the national capital on Thursday was marginally up by Rs 9 to Rs 46,981 per 10 gram with firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,972 per 10 grams. Silver, however, declined Rs 902 to Rs 67,758
Risk aversion generally dominates the global markets today. Following selloff in Asia, major European indexes open lower and are trading down around -2%. DOW future is also losing around -500pts. Swiss Franc and Yen are overwhelmingly the strongest ones for the day, as followed by Euro and Dollar. Commodity currencies are the worst performing, Focus
What you need to know on Friday, July 9: Risk aversion dominated financial markets. Signs of slowing global growth and resurgent coronavirus cases are behind the sour mood. The rapid spread of the Delta variant is arising concerns in Europe, where governments are imposing some restrictions to try to curb contagions. The EUR/USD pair advanced
Turkey’s crypto userbase grew more than 11 times over the last year, a new survey from Turkish crypto exchange Paribu shows. The “Cryptocurrency Awareness and Perception Survey 2021” was conducted by Akademetre Research, revealing the perceptions and behaviors of Turkish citizens toward Bitcoin (BTC) and other cryptocurrencies. The first such survey was completed in 2020.
USD/JPY tests key trendline support as the yen leads gains today Invest in yourself. See our forex education hub. The latest downdraft in Treasury yields is finally stirring up some nerves in the market, as European indices are marked lower at the open with US futures also falling in tandem. This in turn is helping
Metal news Aluminium is a metal worth considering for a medium term buy.Here are the positive reasons for that: Global aluminium demand growth is set to grow moved by energy transition related sectors like transportation and renewable energy from China, the US and Europe. Many major economies have a real push now to try and
NEW DELHI: Gold held steady on Thursday as lower US Treasury yields countered a stronger dollar after minutes from the Federal Reserve’s last meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year. The yellow metal traded marginally lower in the domestic market. Fed officials last month
US stocks surged to new record overnight, shrugging off FOMC minutes. But Asian markets are walking another path, as led by the free fall in Hong Kong stocks. Yen surges broadly on risk aversion, followed by Swiss Franc. Commodity currencies are generally pressured, with Aussie weighed down by dovish RBA comments too. Euro, Sterling and
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