FX

GBP/CAD is in the hands of the bulls, taking on the next layer of resistance. On a break of resistance, 0.7480 is earmarked as a daily extension’s target.  Further to the prior analysis, GBP/CAD Price Analysis: Choppy consolidation with bullish bias, the market has moved in accordance with the daily support and upside continuation expectations.

The AUD/USD pair is set to complete an irregular top below 0.7666/43, with next support then seen at 0.7502, which is expected to provide a solid floor, according to economists at Credit Suisse. Key quotes “AUD/USD is starting to succumb to its dramatic loss of momentum and with a momentum top now confirmed, we shift

WTI clings to mild gains above $52.00 after bouncing off lowest in six days. US dollar weakness, virus woes battle off in America and rising rig counts. US-Iran tension, Gaza-Israel conflict fail to entertain oil traders. US dollar moves, risk catalysts will be the key amid delayed inventory data. WTI fades recent corrective pullback from

Economists at Danske Bank expect the EUR/NOK pair to continue moving downward towards 10.10 over this quarter but with limited downside potential below that level.  Key quotes “Norges Bank’s NOK buying, higher NOK rates and bid oil add tailwinds for the NOK near-term and we see EUR/NOK moving to 10.10 in 3M.” “We identify NOK

Gold is likely to open the week with intense selling pressure under the 200-day SMA. XAU/USD continues to struggle as the US dollar strengthens, downside eyes $1,800. Gold has retraced significantly after topping out at a nine-year high above $2,000 in August 2020. Recovery from the downtrend has proved to be an uphill battle for

USD has been strongly supported on what has shaped up to be a very much risk-off Friday. DXY has broken above a key downtrend and eyes a move towards 91.00. USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD

Gold futures market suffered for another week as the US dollar gained. XAU/USD might revisit $1,800 if the short term support at $1,820 fails to hold in the coming week. Gold experienced intense selling pressure in the concluded trading week. The precious metal was not able to pick up momentum following the consistent growth of

US equity markets closed Friday in the red, the second day of losses in a row. Friday saw quintessential risk-off trade; risk assets sold off and havens were bought on a variety of concerns. US equity markets closed the final trading day of the week in the red, the second day of losses in a row.

WTI has been on the back foot on Friday dropping from the high $53.80s to around $52.00. Demand concerns amid further lockdown restrictions in Europe, coupled with other global risk-off factors have weighed. The front-month futures contract for the American benchmark for sweet light crude oil, West Texas Intermediary (WTI), has been on the back

The UK is preparing to conduct vaccinations for half a million people per day from next week, The UK Times reported, citing an unnamed “senior Whitehall source”. Key details “All over-50s could be vaccinated by the end of March.” government is preparing to more than double the pace of the programme next week.” “Vaccines for

Gold prices rebound from three-day lows, limited by $1850. DXY turns negative ahead of Powell and Biden.    After the beginning of the American session, gold gained momentum and broke above $1943, hitting a fresh daily high at $1852. So far, it has been unable to remain above $1850. Price is moving sideways ahead of

Gold Price Analysis: XAU/USD dives out of a bear flag despite President Trump’s impeachment Gold is trading near $1,848 per ounce at press time, representing a 018% gain on the day. The yellow metal printed a low of $1,842 during the overnight trade and confirmed a bear flag breakdown, a bearish continuation pattern, on the

Economists at Nordea see the EUR/USD pair peaking in the first half of the year as the USD yield curve is still alive. The USD curve has more steepening potential, while the potential is very modest in the EUR curve. Key quotes “Usually, long bond yields tend to pick-up when nominal GDP growth is strong,

NZD/USD rallied above 0.7200 again during Tuesday’s US session. It seemed as though the USD was hit by the cautious comments on QE tapering from Fed officials. NZD/USD closed Tuesday trade with solid gains of more than 50 pips or about 0.7% amid a wave of US dollar weakness that saw the Dollar Index drop

Further comments are flowing from the Bank of England (BOE) Governor Andrew Bailey, as he now speaks on the topic of negative interest rates. Key quotes Negative rates are a controversial issue. There are a lot of issues with negative rates. No country has used negative rates in ‘retail’ end of the financial market. There

Rise in Treasury yields is increasingly challenging the status-quo in markets and supporting the US dollar. Gold’s bullish trend is being challenged as are bullish commitments.  The price of gold is sitting at $1,846 and has travelled between a range of $1,817 and $1,856 on the day. Gold is flat towards the close on Wall Street while an

Goldman Sachs analysts bet 4-to-1 odds on a surprise move of a Bank of England (BOE) rate cut next month. Key quotes “The possibility of a 10-basis-points rate cut taking the Bank rate to zero suggests positive risk-reward” in betting on lower OIS rates at the February meeting.” “Forecasts more incentives for banks to lend

Here is what you need to know on Monday, January 11: The greenback advanced on Friday despite a disappointing Nonfarm Payroll report, as job losses spurred speculation that more fiscal stimulus is in the docket. President-elect Joe Biden called for immediate further fiscal support, including increased direct payments of $ 2,000. The dollar gains were