FX

Gold Price Analysis: XAU/USD consolidates biggest losses in two weeks with eyes on $1,850 Gold prices nurse recent losses while picking up bids near $1,840 during the early Thursday morning in Asia. The yellow metal not only snapped the two-day winning streak while reversing from the two weeks high but also posted the heaviest declines

USD/JPY keeps the consolidative mood unchanged for yet another session on Wednesday, always within the 103.70-104.80 range and against the backdrop of alternating risk appetite trends and the generalized bearish view on the dollar. Further rangebound is likely in the near-term, FXStreet’s Pablo Piovano briefs. Key quotes “The combination of the weaker greenback with the

Silver refreshes intraday low after stepping back from three-week top. Key resistance line, 100-day SMA challenge bulls amid normal RSI conditions. Bears will look for entries below 21-day SMA. Silver prices bounce off an intraday low of $24.51, currently down 0.05% to $24.55, during Wednesday’s Asian session. In doing so, the white metal marks another

Alvin Liew at UOB Group’s Global Economics & Markets Research assessed the latest Nonfarm Payrolls figures (Friday). Key Quotes “The US nonfarm payrolls (NFP) increased for the 7 th month in a row but the pace of adding jobs has been slowing quite markedly in November.” “US November job gains clocked in at 245,000 (nonfarm

AUD/JPY breaks two-week-old support line after bulls step back in last three days. Bearish MACD favors sellers looking for a clear break below short-term horizontal support. AUD/JPY stays depressed around 77.20 during the early Tuesday morning in Asia. In doing so, the pair keeps the downside break of a short-term support line break amid bearish

There has been some progress after the latest round of negotiations between the UK’s chief Brexit negotiator David Frost and his European counterpart Michel Barnier but they failed to bridge all differences, an EU diplomat said on Monday, per Reuters. “Gaps include stable access to UK waters for EU fishermen and state aid provisions,” the diplomat

Here is what you need to know on Monday, December 7: The greenback corrected some of its extreme oversold conditions after reaching fresh year lows against most major rivals but remains the weakest currency across the FX board. The EUR/USD pair is firmly anchored above 1.21, while USD/CAD trades sub-1.2800. USD/JPY and AUD/USD saw little action

Major US equity bourses rallied into the close of US cash trade, each closing at record highs and SPX nearly surpassing 3700. A soft US labour market report was seen as boosting the chances of fiscal stimulus given, hence was taken as good news. President-elect Biden calls for stimulus and suggests any deal this year

Gold rebounds massively from the lows traded in November. A break above the 100 SMA on the 4-hour chart will help validate the expected spike to 1,875. Gold’s price recently broke out of a descending wedge pattern. This breakout shifted the bulls’ focus upward after support at 1,760. Several resistance levels delayed the recovery, including

DXY pairs losses in the final hours of FX trade and manages to close in the green close to 90.80. However, DXY still closed the week with steep losses of just over 1.0%. The Dollar Index (DXY) picked up into the Friday FX market close, closing the final trading day of the week close to

NASDAQ:WKHS gains back 10.96% on Thursday after a sell-off earlier this week. Wall Street analysts from R.F. Lafferty reiterates its bullish stance on the stock. Another analyst, Roth Capital Partners, appears to be a little more hesitant on Workhorse. It did not take long for NASDAQ:WKHS to recover from its dip earlier in the week

Early Friday morning in Asia, CNN quotes US President Donald Trump’s most senior intelligence official John Ratcliffe while stating  that China is preparing for “an open-ended period of confrontation with the US,” urging bipartisan action to address “the greatest threat to America today” and to “democracy around the world since World War II.” The report

Hungarian Prime Minister Viktor Mihály Orbán’s cabinet chief reiterated on Thursday that they cannot accept the European Union’s budget proposal in its present form, as reported by Reuters. Additional takeaways “EU budget or recovery fund cannot take effect without Hungarian approval.” “We have the right to veto.” “We are open to further negotiations.” “There will not

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“Some member states are becoming jittery as we enter Brexit endgame,” Reuters reports, citing a European Union (EU) diplomat. Additional takeaways “Still unclear if negotiators can bridge gaps on three key issues.” “Briefing for envoys was an exercise to calm nerves in Paris and elsewhere that Barnier will continue to defend core EU interests, including

EUR/USD is benefitting from a weaker US dollar on stimulus hopes.  The single currency has rallied from a low of 1.1923 to a high of 1.2076 and is currently trading 1.22% higher on the day.  This is a dollar-based moved as highlighted in the following charts: From the prior day’s analysis, it was noted that

Eurozone Preliminary CPIs and GDP overview Eurostat will publish the first estimate of Eurozone inflation figures for November at 1000 GMT on Tuesday. The headline CPI is anticipated to drop 0.2% YoY vs. -0.3% previous while the core inflation is seen steady at 0.2% YoY in the reported month. Deviation impact on EUR/USD Readers can find

Reuters has reported that the Eurozone finance ministers have agreed to use their bailout fund, the European Stability Mechanism (ESM), as an emergency backstop for the single currency area’s bank resolution fund. This was according to the German Finance Minister Olaf Scholz. ”The agreement, stalled since last year, will make the eurozone more stable and resilient to