FX

AUD/USD reverses Monday’s 2-month highs above 0.7300. Monday’s Pfizer-led rally appears to be losing momentum. NAB Business Confidence improved to 5 in October.  Following Monday’s uptick to new 2-month highs beyond 0.73 the figure, AUD/USD meets some selling pressure and recedes to the 0.7260/50 band on turnaround Tuesday. AUD/USD meets solid hurdle near 0.7340 AUD/USD

Gold charts mild recovery after Monday’s 4.56% crash.  Risks remain skewed to the downside with prices trading well below Monday’s high. Gold is currently trading near $1,877 per ounce, representing a 0.79% gain on the day, having hit a low of $1,850 during the overnight trade. That level was last seen on Sept. 28.  While prices have

The Bank of England (BoE) aims to keep borrowing costs at rock-bottom levels for as long as necessary to get the economy moving, Andy Haldane, the Chief Economist of the BoE, said on Monday, as reported by Reuters. “Financial markets point to a lengthy period of very low interest rates but things can change,” Haldane further noted. “A

USD/CHF wavers around the lowest levels since January 2015. Three-day-old resistance line, 200-HMA restrict immediate upside. Highs marked during early July 2014 offer nearby support below 0.8982. USD/CHF stays mildly offered near 0.8996 during early Monday. The pair dropped to the lowest since January 27, 2015, on Friday before the oversold RSI conditions trigger its

A wedge pattern on the 4-hour chart hints at a potential reversal to 1,900. Gold sends mixed signals ahead of the new week’s trading; a rally to 2,000 is possible. Gold spiked significantly this week and brushed shoulders with 1,960. The instability witnessed in the stock market saw the precious metal used as a hedging

Joe Biden has been elected the 46th President of the United States according to Fox News, AP, ABC, NBC, and CNN.  The former Vice-President has pulled ahead in Pennsylvania. The latest batch of votes from the Keystone State put Biden ahead by around 34,000 votes ahead of President Donald Trump. Here is the official post

Gold is on the verge of a rally to 2,000, especially if the US election tension spills into next week. Support at 1,950 is key to ensuring that buyers keep their eyes on the ultimate prize, 2,000. Gold rallied significantly this week amid tension regarding the United States 2020 presidential election. The precious metal closed

XAU/USD rallies 4% on the week to reach $1,960 highs. Risk appetite boosts gold demand and sends the USD tumbling. Gold futures have ticked higher on Friday to reach seven-week highs at $1,960. Bullion has appreciated nearly 4% on the week boosted by USD weakness amid post-US election risk rally. XAU/USD rallies on risk appetite

EUR/USD needs to break above 1.1881 in order to see a base established to mark an end to its consolidation from September for a resumption of its core bull trend for a move back to the 1.2011 high, per Credit Suisse. Key quotes “With the USD itself breaking already breaking lower from its range to

Silver bulls catch a breather around one-month high. 50-day SMA offers immediate support, bulls to have a bumpy road ahead. Silver prices drop to $25.14, down 0.98% intraday, as markets in Tokyo open for Friday’s trading. The white metal surged to the highest since October 12 the previous day while crossing 50-day SMA. However, the

Gold is in demand as markets are cheering the growing chances of a decisive US election, where Democratic Joe Biden comes on top within hours or days rather than seeing a protracted legal process. Moreover, Republicans – on course to retain the Senate – seem more willing to support a new stimulus package.   After the

GBP/JPY refreshes three-day low amid increasing odds of BOE’s negative rates. UK Chancellor Sunak is also up for helping the economic cope with the second lockdown. US elections, FOMC adds importance to “Super Thursday”. GBP/JPY stays heavy around 135.30, following the recent drop to 135.13, amid Thursday’s Asian trading. Although the US elections gain major

NASDAQ:QCOM gains 1.19% on Tuesday as tech stocks take the broader markets positive. Qualcomm prepares for its quarterly earnings call on November 4th after the closing bell. Qualcomm is riding the wave of 5G phones and devices that are coming to the market. The global markets have rallied this week as the world awaits the

USD/CAD’s reversal from 1.3390 finds support at 1.3100 area. The US dollar loses ground with the market pricing-in a Democrat victory. Longer-term, the Canadian dollar is expected to underperform – MUFG. The greenback extended its reversal from last week highs at 1.3390 area on Tuesday, to find support at 1.3100 area before picking up to

A combination of factors exerted some follow-through selling around USD/CAD on Tuesday. The US political uncertainty kept the USD bulls on the defensive and exerted some pressure. A sudden pickup in oil prices underpinned the loonie and added to the intraday selling bias. The USD selling bias picked up pace during the early European session

EUR/GBP remains slightly positive, supported above 0.9000. The announcement of the second lockdown in the UK weighs on the pound. On the positive side, hopes of a Brexit deal are underpinning GBP crosses. The euro found support at 0.8995 earlier on Monday, following a bearish reaction from intra-day highs at 0.904. The pair has ticked

Japanese Prime Minister Yoshihide Suga said on Monday, he is not thinking about lowering the sales tax, which is used to fund social security. Last week, Suga said that he would push for “budgetary steps” to support an economy hit by the coronavirus pandemic, per Reuters. However, a Japanese government spokesman said last Friday that

Here is what you need to know on Monday, November 2:  The greenback finished October with gains against most major rivals, backed by a sour market’s sentiment. Concerns related to the number of new coronavirus cases in Europe and the US, alongside uncertainty about the US presidential election, were behind the dismal mood. The EUR/USD