FX

EUR/GBP is a little higher on Thursday, but has been rangebound having failed to break below the 200DMA in the mid-0.8900s. EUR traders are focused on Thursday’s EU27 Leaders videoconference, where Poland and Hungary are expected to veto the recovery fund and budget. GBP is focused on Brexit discussions, which faced a hiccup today after

At its November monetary policy meeting held on Thursday, Indonesia’s central bank, Bank Indonesia (BI), unexpectedly cut its 7-day reverse repo rate by 25bps to 3.75% from the previous 4.0%. Governor Warjiyo said that the decision took into account low inflation, external stability and to support economic recovery. more to come …

USD/CHF heads south for the fifth day in a row to test support at 0.9090/00 area. The US dollar depreciates across the board on a moderately risk-on market. The US dollar remains on the back foot against the Swiss franc, trading lower for the fifth consecutive day amid a broad-based USD weakness. With upside attempts

LSE:RR sheds 0.29% as the LSE dips alongside global markets. Rolls-Royce continues to recover from its steep drop in October. News of potential COVID-19 vaccines has renewed investor interest. LSE:RR has been hit hard during the coronavirus pandemic and it is not just because people are not buying its cars. Shares have had a tumultuous

WTI trades lower as a function of the broader risk-off market tone, although is off $40.50 lows. Today’s OPEC+ JMMC largely went under the radar, with focus on the end of month official OPEC+. WTI crude currently trades just above $41.00, above lows closer to $40.50, but still with losses of around $0.30 on the

FX option expiries for Nov 17 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1700 669m 1.1830 982m 1.1850 2.1bn 1.1900 1.1bn – GBP/USD: GBP amounts         1.3080 214m  – USD/JPY: USD amounts          104.03 424m 105.00 556m – EUR/GBP: EUR amounts 0.8900 923m 0.9050 804m

Analysts at Citibank see the negative trends for the US dollar intact. In the short-term they forecast the DXY could rise to 94.40 and to drop below 90.00 on a six-twelve month horizon.  Key Quotes: “Our base case heading into 2021 is for a Biden/Harris led government, whilst Congress will be split with Republican control

GBP/USD at four-day tops, as US dollar loses further ground. Risk-on mood overshadows discouraging Brexit developments. Focus remains on the covid stats amid light economic docket. GBP/USD looks to extend its bullish momentum above 1.3200 into European trading this Monday, helped by the upbeat market mood-led additional weakness in the US dollar across its main

Here is what you need to know on Monday, November 16:  The US continues to report record coronavirus infections. On  Friday, the country informed over 184K new cases in the past 24 hours, while US President Donald Trump announced the imminent distribution of COVID-19 vaccines. The announcement was taken with a pinch of salt and

GBP/USD put in a strong performance into the weekend close, rallying over 80 pips or more than 0.6%. News that UK PM Johnson’s Eurosceptic advisor Cummings had resigned early and positive Brexit updates helped. GBP/USD trades just below the psychological 1.3200 level heading into the weekend close, with the pair having gained 80 pips today,

Gold closed last two days of the week in the positive territory. XAU/USD lost more than 3% for the week. Gold could continue to push higher with a daily close above $1,900. The XAU/USD pair closed the last two days of the week in the positive territory but closed below $1,900. On a weekly basis,

EUR/GBP rebound from 0.8860, rejected at 0.9000. The pound appreciates after UK’s top adviser Cummings announces his exit. Euro’s recovery from week-lows at 0.8860 has been rejected at 0.9000 and the pair pulled back to 0.8960 area on Friday, on track to close the week with a 0.7% loss. The sterling appreciates as Brexit deal

DXY remains under pressure below the 93.00 mark. US Producer Prices surprised to the upside in October. Flash November Consumer Sentiment next of note. The US Dollar Index (DXY), which gauges the greenback vs. a bundle of its main rivals, trades on the defensive and still below the 93.00 yardstick. US Dollar Index still capped

AUD/USD pressured with S&P 500 futures as risk-off mood dominates. US dollar favored amid growing coronavirus fears and jittery markets. US covid updates and consumer sentiment data closely eyed. AUD/USD remains on the defensive in weekly lows above 0.7200, extending its losing streak into a fourth straight day on Friday. At the time of writing,

S&P 500 struggles to build on Wednesday’s gains. S&P 500 Energy Index is down nearly 2% on Thursday. Technology shares post modest gains in the early trade. Wall Street’s main indexes opened mixed on Thursday amid varying performances of major sectors. As of writing, the Dow Jones Industrial Average was down 0.5% on the day

USD/CAD prints a rising wedge bearish reversal pattern on the hourly chart.  A breakdown would expose the recent low of 1.2928. USD/CAD’s recovery from Monday’s low of 1.2928 to 1.3070 has taken the shape of a rising wedge pattern as per the hourly chart.  A rising wedge comprises converging trendlines connecting higher highs and higher

The United Kingdom will report the preliminary estimate of its Q3 Gross Domestic Product this Thursday at 07:00 GMT and the figure is expected to indicate a nice comeback in the three months to September. The release could trigger some action around GBP crosses but it’s unlikely that it could provide sustainable support to sterling,

With the Reserve Bank of New Zealand offering an upbeat view of the economy, the country’s money markets are pricing out prospects of the Reserve Bank of New Zealand pushing rates to sub-zero levels in 2021.  The central bank’s governor Adrian Orr was out on the wires soon before press time, stating that the economy