FX

Gold bears catch a breather around November 30 low after consecutive five days of declines. US dollar ignores pullback in Treasury yields, rises for second day on upbeat data, stimulus hopes. No major data/events in Asia, except for Aussie jobs report, but Chinese traders’ reaction to latest catalysts will be important. Gold struggles to overcome

FX Strategists at UOB Group noted USD/CNH could bounce off recent lows and re-test the 6.4500 area in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that USD ‘could dip below 6.4000 but the prospect for extension to 6.3900 is not high’. However, USD rebounded strongly after touching 6.4010. While the sharp rebound

Oil prices slump to a 38.2% Fibonacci level despite the fundamentals. A technical correction as profit-taking ensues has been in play while the greenback spikes.  The reflation trade has been gathering pace which has seen investors move over to riskier asset classes in the past number of trading session where US oil prices rallied to fresh cycle

Since the crash of March 2020, all stocks have tried to recover what they lost and Disney was no exception. Disney did not only recover the lost, but It also reached historic highs. Now, we are going to try to build an impulse from the March 2020 lows with a target around $230. Target measured

What you need to know on Tuesday, February 16: Optimism maintained the greenback under pressure against all major rivals but the JPY. The upbeat sentiment was backed by hopes that US Congress will speed up a stimulus bill now that they acquitted former US President Donald Trump on his second impeachment. China and the US

Andrew Sheets, Chief Cross-Asset Strategist for Morgan Stanley, believes that inflation will rise, but that the gold price will fall. He thinks that’s not a contradiction, and other commodities, not gold, are set to perform best in the bank’s central scenario. Key quotes “Morgan Stanley’s economists forecast US inflation to rise a little over 2%

Bulls remain in the driver’s seat fully planted on bullish grounds. An upside bias is presumed from a topdown analysis. As per last week’s analysis, AUD/CHF Price Analysis: One for the watchlist for a bullish extension, the price extended to the upside for a breakeven scenario from entry point. The following is a top-down analysis that arrives at

Gold continues to suffer under a stronger US dollar. XAU/USD has lost the 50 SMA crucial support, risking declines towards $1,780. Recovery will come into play if gold settles above the 23.6% Fibonacci level. Gold has recently been rejected at $1,850, paving the way for the ongoing declines. Before that, the precious metal had rebounded

Gold is likely to open trading on Monday in losses, especially if the critical ascending channel’s middle boundary support breaks. The MACD has reinforced XAU/USD’s bearish outlook on the daily chart. Recovery will come into the picture if gold closes the day above the middle boundary support. Gold has continued to struggle amid a stronger

All three major US indices closed at record highs on the long US weekend. The fundamental backdrop remains very much bullish, as has been the case now for two weeks running. All-time closing highs for everyone! The party on Wall Street continues and the major US indices rounded out the week with a bang; the

NZD/USD has recovered sharply from pre-US trading session lows in the 0.7170s after finding support at Monday’s low. The rally from lows came primarily as a result of road USD weakness. NZD/USD has recovered sharply from pre-US trading session lows in the 0.7170s, the pair seemingly having found strong support around Monday’s low and last

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, suggesting that recovery in Britain’s industrial sector remained uneven in December. Manufacturing output arrived at 0.3% MoM in December versus 0.6% expectations and 1.1% booked in November, while total industrial output came in at 0.2% vs. 0.5% expected and 0.3% last.

XAU/USD falls sharply during the American trading hours. Next near-term support for gold could be seen at $1,818. RSI indicator on the one-hour chart dropped below 30. The XAU/USD pair came under heavy selling pressure during the European trading hours and dropped to a daily low of $1,823. Renewed USD strength amid rising US Treasury

EUR/GBP remains pressured towards the monthly bottom, also nine-month low. Key HMAs, weekly resistance line guard immediate upside. Bears eye April 2020 low during further weakness. EUR/GBP remains on the back foot, down 0.06% to 0.8755, despite the latest corrective pullback from an intraday low of 0.8753 during early Thursday. In doing so, the quote

Midway through trading Wednesday, the Dow traded down 0.07% to 31,355.00 while the NASDAQ fell 0.46% to 13,943.81. The S&P also fell, dropping 0.23% to ,902.13. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 27,192,910 cases with around 468,200 deaths. India confirmed a total of

Gold buyers attack short-term triangle resistance while teasing the intraday high. Successful U-turn from 50-bar SMA, amid bullish MACD, favor optimists. Bears have a bumpy road even if they manage to conquer $1,833 support confluence. Gold seesaws around an intraday high of $1,845.33, currently up 0.39% to $1,1843.14, during the pre-European session trading on Wednesday.

Adam Hoyes, Assistant Economist, at Capital Ecomomics, explains they see United Kingdom equities outperforming during 2021, as some of the headwinds that they faced in 2020 fade or even act as tailwinds. Key Quotes:  “We think that investors will eventually look through these near-term risks as vaccine rollouts progress and restrictions are eased.  This may

CCIV merger speculation keeps investors thinking! CCIV one of Reddit-driven retail stocks for 2021. Churchill Corp subject of merger speculation with Lucid Motors. Update: Churchill Capital Corp IV (NYSE: CCIV) dropped nearly 6% to settle below the $33 mark on Monday, having found strong support just above $30. The shares of the blank-check company corrected lower