FX

One-month risk reversals on gold continue to fall on put demand.  According to data source Reuters, the gauge is currently trading at -0.85 in favor of puts (bearish bets), having peaked at 1.35 in favor of calls (bullish bets) on Nov. 6.  The sharp slide is the result of investors adding bets to position for

Here is what you need to know on Monday, November 30: The American dollar was the worst performer on Friday, falling against all of its major rivals, but the pound. The EUR/USD pair was the best performer, reaching a fresh 2-month high of 1.1963. The GBP/USD pair fell for a second consecutive day as the

GBP/JPY’s reversal from  140.00 area extends to 138.35. Brexit uncertainty and Scotland’s referendum hurt the pound. GBP/JPY eroding trendline support at 138.40. The sterling is trading lower against the Japanese yen for the second consecutive day, giving away most of the ground taken earlier this week. Pound’s reversal from intra-week highs right below 140.00 has

Gold lost 4.5% on the week, the worst week since end-September. Stops got triggered after gold breached the $1800 critical threshold. Coronavirus vaccine progress-led economic optimism hammered gold. Gold (XAU/USD) finally breached the critical $1800 support on Friday, closing the week below that level for the first time since July 16. The spot eroded 4.5% of

AUD/USD shrugged off negative China trade news on Friday to hit fresh monthly highs. Excellent Australian containment of the Covid-19 pandemic is likely supporting the currency alongside NZD. AUD/USD looks set to end the week on the front foot and at its highest levels since early September of just below 0.7400. On the day, the

USD/CAD trades in the negative territory on Friday. WTI clings to gains above $45 following Thursday’s correction. US Dollar Index struggles to find direction ahead of Wall Street’s opening bell. The USD/CAD pair registered small daily gains on Thursday but started to edge lower on Friday as the rising crude oil prices helped the commodity-sensitive

The price of gold has broken into bearish territory below a 38.2% Fibonacci retracement.  Bears will seek a discount on a pullback to retest old support, expected to turn resistance.  In the recent good news in markets, the price of the yellow metal has come under renewed pressure. The yellow metal has completed a 38.2%

NYSE:BCS falls by 4.74% on Wednesday as UK banks got hit hard. Barclays teams with FreshBooks to offer assistance to small businesses in the UK. Barclays works with CGI to create a new trading platform for its customers. NYSE:BCS has definitely seen better days after a damning report from the Chancellor of the Exchequers showed that

USD/CAD lost its traction after recovering to 1.3030. US Dollar Index fell below 92.00 after mixed macroeconomic data releases. WTI trades at fresh multi-month highs near $46. The USD/CAD pair rose to 1.3030 in the early American session but lost its traction pressured by the renewed USD weakness and rising crude oil prices. As of

Gold prices are off highs of the day of just under $1818, but remain marginally in the green on the day. After taking a beating on Monday and Tuesday, gold market participants are taking a breather ahead of the next move. Spot gold prices trade close to the $1810 level, off earlier highs of just

AUD/USD sideways around 0.7350, consolidating at 12-week highs. Aussie’s rally loses steam as risk appetite falters. The Australian dollar looks ready to break 0.7400 – UOB. Australian dollar’s pullback from intra-ay highs at 0.7375 seen on Wednesday’s early trading has been contained at 0.7325, before bouncing up to 0.7360 area. At the moment of writing, the

The US dollar breaks below 0.9100 to test two-week lows at 0.9075. The Swiss franc appreciates amid a sourer market sentiment. The market is awaiting the release of FOMC’s minutes. The US dollar has pushed lower against the Swiss franc on Wednesday’s North American trading session, with the pair breaking below 0.9100 to test the

USD/JPY is posting modest daily losses on Wednesday. 10-year US Treasury bond yield is down more than 1%. US Dollar Index stays near 92.00 ahead of FOMC Minutes. The USD/JPY pair stayed relatively quiet around 104.50 for the majority of the day and edged modestly lower during the American trading hours. As of writing, the

Minutes of the FOMC’s November 4-5 meeting showed on Wednesday that policymakers judged immediate adjustments to the pace and composition of asset purchases were not necessary. However, policymakers further noted that circumstances could shift to warrant such adjustments. Market reaction The US Dollar Index showed no immediate reaction to the FOMC Minutes and was last seen losing

Silver trades sharply below highs made at the start of the US session, but holds onto decent gains on the day. Significant upside was seen in precious metals markets as US Treasury Secretary Mnuchin spoke prior to the US open. Silver (XAG/USD) started off strong on Friday, rallying through the Asia and European morning session.

The S&P 500 sold off in the final hour of trade and S&P 500 futures ended the week close to lows. Uncertainties regarding US politics and the Fed’s emergency lending facilities, coupled with further lockdown concerns weighed. Following a choppy session, the S&P 500 sold off in the final hour of trade, ultimately ending the

NZD/USD appreciates for the third consecutive week to reach a 23-month high at 0.6950. The kiwi trades higher as risk appetite returns. NZD/USD is biased higher and might break above 0.6945 – Credit Suisse. The New Zealand dollar is pulling back on Friday’s late trading after having posted a fresh 23-month high at 0.6950. The pair

US yields lifted recently (0.75% to 0.95% for the ten years) partly in response to the news around the vaccines; markets will be closely watching the progress of the vaccines. Bill Evans, Chief Economist at Westpac, has raised his US 10-year Treasuries forecast and expects the yield curve to steepen in the next year. Key