FX

Wall Street’s main indexes trade little changed on Thursday. US stock markets will close early on New Year’s eve.  S&P 500 Energy Index is down nearly 1%. Major equity indexes in the US started the day near Wednesday’s closing level as trading volume remains thin on New Year’s Eve. As of writing, the Dow Jones

AUD/USD rises to the fresh high since April 2018 following China’s NBS PMI data. The headline Manufacturing PMI eased to 51.9 but Non-Manufacturing PMI jumped to a three-month high of 55.7. Risk-tone remains positive tracking Wall Street gains and Brexit deal passage amid a light calendar. US stimulus, virus updates are the key before the

USD/CHF staged a modest bounce after hitting fresh multi-year lows on Wednesday. The risk-on environment undermined the safe-haven CHF and extended some support. The offered tone surrounding the USD capped the upside amid year-end thin liquidity. The USD/CHF pair has managed to rebound around 35 pips from daily swing lows and was last seen hovering

XAG/USD is forming a bullish flag as it remains supported above the $26.00 level. The precious metal also continues to consolidate within a longer-term pennant. Spot silver (XAG/USD) prices were choppy on Tuesday, closing the session with modest losses of around 0.1% or just over 3 cents after prices swing between the $26.00 level, which

GBP/USD Analysis: Profit-taking kicks in as Brexit deal optimism fades The GBP/USD pair witnessed a dramatic intraday turnaround on the first day of a new trading week and tumbled around 150 pips from daily swing highs, near the 1.3575 region. The euphoria over a post-Brexit trade deal faded rather quickly as investors flagged concerns about

AUD/USD reverses losses from the multi-month high following its bounce off 0.7557. US President Donald Trump passes covid aid package, House debates $2000 paycheck amount. Aussie-China tussle continues despite no audience due to the year-end holiday mood. AUD/USD keeps the latest recovery moves near 0.7580 during the early Tuesday. The aussie major refreshed record high

EUR/USD gained some strong positive traction on Monday amid sustained USD selling bias but relatively thin trading conditions warrant some caution before placing aggressive bullish bets, FXStreet’s Haresh Menghani reports. Key quotes “Concerns about the discovery of a new faster-spreading variant of the coronavirus might temper enthusiasm. This, along with a goodish pickup in the

Here is what you need to know on Monday, December 28: A post-Brexit agreement was finally reached on Christmas Eve. During the weekend, the EU and the UK published the full text of their post-Brexit arrangement, which includes details on trade, law enforcement and dispute settlement among other things. The accord needs to be ratified by

The European Union and the United Kingdom reached a trade deal. Pound retreats after the announcement, EUR/GBP rises to 0.9000. The EUR/GBP pair rose from three-week lows around 0.8950 to 0.9007, trimming daily losses after the announcement that the United Kingdom reached a deal with the European Union after months and months of talks. The

EUR/USD lost its traction during the American trading hours. Sharp drop in GBP/USD helped the greenback gather strength. Market action is expected to remain subdued until next week. The broad-based USD weakness allowed the EUR/USD pair to climb above 1.2200 during the European trading hours. However, the pair struggled to preserve its bullish momentum in

Here is what you need to know on Thursday, December 24: Brexit: Markets eye a Brexit breakthrough on X-mas eve, awaiting a joint conference likely to be held by the UK PM Boris Johnson and EU Chief Ursula von der Leyen at 0800 GMT. According to media reports, both sides will talk at 0700 GMT before addressing

WTI bulls come back tot he table in a Santa Clause rally on Wall Street. The “Great Rebalancing” is underway, yet some concerns still remain, according to TD Securities. WTI is trading at $48.10 and higher 2.86% in today’s range of between $46.18 and $48.48.  Oil prices have climbed on Wednesday, boosted by draws in US inventories

EUR/GBP holds lower ground while keeping a downside break of short-term rising trend line. Weekly falling resistance line tests the bulls, bearish MACD favor sellers. EUR/GBP wavers around 0.9090, down 0.05% intraday, while heading into Wednesday’s European open. The pair dropped below an ascending trend line from last Thursday but failed to extend the fall

Low Inventories Hold Back November Home Sales Existing home sales fell 2.5% in November. Analysts at Wells Fargo noted is the first decline in five months and they point out that despite the fact that the number of homes sold fell, homes are selling as fast as ever. Key Quotes:  “Existing home sales fell 2.5%

AUD/USD wavers around intraday low, fades bounces off short-term support line. Normal RSI conditions, failure to cross three-day-old resistance line keep sellers hopeful. AUD/USD drops to 0.7560, down 0.28% intraday, while heading into Tuesday’s European session.  The aussie pair took a U-turn from an upward sloping trend line from November 23 the previous day. However,

AUD/USD has climbed from lows of the day under 0.7500 towards current levels just under 0.7550, but still trades deeply in the red. A large rally in Iron ore prices and improvement in the Sydney Covid-19 outbreak situation hasn’t helped AUD much. AUD/USD has continued its recovery back towards the 0.7550 area after slipping beneath

While confirming market chatters surrounding the US coronavirus (COVID-19) aid package, US House Speaker Nancy Pelosi conveyed the agreement over on an emergency coronavirus relief and omnibus package. The Congress member yet to reveal the details of the much-awaited stimulus. Congressional Democrats have reached an agreement with Republicans and the White House on an emergency

The Washington Post reports that Republican and Democratic lawmakers have reached a compromise on a contentious topic, paving the way for a $900 billion stimulus package. Lawmakers were drawing away from a conclusion after Senator Pat Toomey (R-Pennsylvania) wanted to introduce curbs to the Federal Reserve’s powers to act. The details of the compromise are