FX

In a press conference on Saturday, British Prime Minister Boris Johnson said that he had been briefed on data showing that the new variant of the coronavirus is spreading more rapidly in parts of England, as reported by Reuters. Johnson further announced that London and areas of Southeast England will go into tier 4 level

US equities spent most of US trading hours on the back foot, only to rally sharply into the close. Quad witching and Tesla’s inclusion in the S&P 500 index next Monday distorted trade. US equities seemingly did not trade as a function of the usual themes that have been driving the price action as of

The AUD/USD pair surged to 0.7639, a level that was last seen in June 2018, holding on to its gains as the week comes to an end. The aussie will extend its positive momentum next week as overbought conditions still short of granting a correction, according to FXStreet’s Chief Analyst Valeria Bednarik. Key quotes “Winter

USD/JPY trades near 103.42, representing a 0.32% gain on the day.  The BOJ kept interest rates unchanged, extended the corporate funding package as expected.  The oversold bounce in the US dollar powers USD/JPY higher.  USD/JPY continues to trade near the session high of 103.42, with the Bank of Japan (BOJ) deciding to extend the March 2021 deadline

The rally in spot silver prices has continued on Thursday, with XAG/USD matching the November high and eclipsing $26.00. Soft US data is has exacerbated expectations for more Fed easing, sent US yields lower and is supporting precious metals. Spot silver (XAG/USD) prices are surging for a third straight day on Thursday, with prices briefly matching

USD/CAD keeps recovery moves from 1.2688, the lowest since April 2018 flashed on Monday. Normal RSI conditions, two-day-old support line suggests further upside. Bulls can eye November lows, sellers will wait for fresh multi-day bottom for entry. USD/CAD picks up the bids near 1.2750, up 0.05% intraday, during early Thursday. In doing so, the loonie

GBP/USD gained some strong follow-through traction amid hopes for an imminent Brexit deal. Hopes for additional US fiscal stimulus continued weighing on the USD and remained supportive. Investors now look forward to the US retail sales for some impetus ahead of the FOMC decision. The GBP/USD pair continued scaling higher through the mid-European session and

Early Wednesday morning in Asia, Reuters came out with an update suggesting the MSCI Inc. is to delete the securities of 10 Chinese companies from some global indexes after the US imposed restrictions on their ownership, but said it would also launch new versions of several indexes that retain the same securities. The news mentions

EUR/USD is still expected to see an eventual clear break above 1.2145/55 to reassert the uptrend for a move to 1.2355 and eventually above 1.2500, analysts at Credit Suisse apprise. Key quotes “We continue to look for a clear and sustained move above our long-held 1.2145/55 first upside objective – the ‘neckline’ to the early

The Dow Jones Industrial Average fell 0.62% to end at 29,859.97 points. The S&P 500 SPX lost 0.44% to 3,647.33. The Nasdaq Composite climbed 0.5% to 12,440.04. Despite the roll-out of the COVID-19 vaccine campaign in the United States, US stocks were mixed by the close. The Dow Jones Industrial Average touched a record high before

Economists at Westpac believe coronavirus vaccines will eliminate downside risks for the US economy which is set to rebound strongly in 2021. What’s more, FOMC is set to maintain extraordinary support. Key quotes “If we look ahead a year to the end of 2021, by then the US economy should not only have recouped the remainder

In a joint statement on Sunday, the UK Prime Minister Boris Johnson and European Commission President said that they discussed the key unresolved issues and decided to go for a fresh round of negotiations in order to reach a historic trade deal, the Guardian reported, citing sources who claimed progress was being made. Key quotes

Gold awaits a breakout from the recent trading range. XAU/USD remains locked between 50-DMA and 200-DMA. All eyes on the Fed decision and a potential US fiscal stimulus deal. Gold (XAU/USD) resumed its bearish momentum following a brief recovery from multi-month lows sub-$1800 in the last week. The sellers returned after the metal faced rejection at

Amid looming Sunday’s deadline to clinch a trade deal with the UK, the European Union (EU) member states have been warned not to entertain side deals with Britain, which would ease the consequences of a no-deal Brexit, the Financial Times reported Saturday, citing a diplomatic note. This comes after both the UK Prime Minister Boris Johnson

The US Food and Drug Administration (FDA) announced the much-awaited authorization of Pfizer and BioNTech’s jointly developed coronavirus vaccine for emergency use (EUA) late Friday. This comes after the vaccine advisers to the US medical regulator voted 17 to 4 Thursday, recommending the approval of the vaccine for emergency use. Pfizer’s covid vaccine, which has shown 95%

USD/JPY hits fresh lows, even as Wall Street away from lows. US 10-year yield falls to 0.87%, lowest since December 1. The USD/JPY dropped further and bottomed at 103.82, reaching the lowest level in a week. As of writing it trades at 103.90/95, down 20 pips for the week. The Japanese currency is among the top

USD/CHF wavers around the lowest since January 2015. Nearly overbought RSI conditions suggest pullback inside bearish chart pattern. May 2014 low can lure the bears during further downside. Following its drop to the fresh multi-month low of 0.8851, USD/CHF seesaws near 0.8855, down 0.15% intraday, ahead of Friday’s European session. In doing so, the quote

AUD/USD continues to push higher during American trading hours. Renewed hopes for a US stimulus deal is boosting market sentiment. US Dollar Index stays in negative territory below 91.00. The AUD/USD pair extended its daily rally during the American trading hours and touched its highest level since June 2018 at 0.7528. As of writing, the