FX

UK Prime Minister Boris Johnson has announced a second broad lockdown from Thursday, November 5, and until December 2. The PM has said, “The virus is doubling faster, that we can conceivably add capacity.”  Leaving home is restricted to limited, essential activities.  Johnson has also announced that the furlough scheme will extend for another month.

XAU/USD lost more than 1% last week and closed near $1,880. Bearish pressure could gather strength is gold drops below $1,860. 100-day SMA at $1,890 aligns as first resistance. The XAU/USD pair suffered heavy losses on Wednesday and Thursday but staged a rebound on Friday. Despite the fact that the pair gained 0.6% on the

The euro finds support at 1.1640 after a five-fay sell-off. COVID-19 lockdowns and the ECB have sent the euro tumbling. The US elections will be a key EUR/USD driver next week. The euro extended its downtrend for the fifth consecutive day and is on track for a 1.75% weekly decline to close the week near 1.1640

Annual core PCE Price Index in US came in lower than expected in September. US Dollar Index edges lower toward 93.70 ahead of Wall Street’s opening bell. The Personal Consumption Expenditures (PCE) Price Index in September rose 0.2% on a monthly basis, the US Bureau of Economic Analysis reported on Friday. On a yearly basis,

EUR/USD’s bear flag breakdown has exposed September lows.  The daily chart RSI also favors deeper losses.  The path of least resistance for EUR/USD is to the downside.  The pair fell by over 0.6% on Wednesday, confirming a bear flag breakdown on the daily chart. The breakdown indicates the sell-off from the Sept. 1 high of

Russia’s President Vladimir Putin said on Thursday that they hope they can start mass coronavirus vaccination by the end of the year, as reported by Reuters. “The COVID-19 vaccine from Great Britain has come glitches,” Putin added and noted that the vaccine produced by Russia was more efficient. Market reaction These comments don’t seem to

AUD/JPY bears are in control below critical weekly support. Bulls might enjoy some relief in a meanwhile correction in a downside channel.  AUD/JPY is in the hands of the bears and below bearish structure as the price deteriorates on weakness in the Aussie as well as in risk sentiment.  The yen has attracted a bid

NASDAQ:MVIS continues with its momentum from Monday as the stock rose a further 3.54%. Ladenburg Thalmann analyst reiterates buy rating and sets new price target. Microvision announces quarterly earnings call on October 29th, 2020. NASDAQ:MVIS has continued its rally from the previous day as the stock rose a further 3.54% on Tuesday to close the

AUD/USD is wilting in early Asia on COVID-19 woes and ahead of key data.  There are downside risks to the AUD should US election polls narrow from here. AUD/USD is currently trading at 0.7117, under some pressure in early Asia ahead of key data for the day ahead.  A slightly risk-on tone in other asset

AUD/USD finds decent support near the 0.7100 mark and stages a goodish bounce on Tuesday. An uptick in the US equity futures undermined the safe-haven USD and remained supportive. Dovish RBA expectations, coronavirus jitters might keep a lid on any strong gains for the pair. The AUD/USD pair added to its intraday gains and refreshed

AUD/USD bears facing a strong level of the support structure. Price is trapped and swing traders await a breakout.  AUD/USD has been in the hands of the bears since the end of August and following five consecutive months of higher highs and lows.  A deeper correction to a 38.2% retracement level brings in the 0.67 area,

AUD/USD is expected to navigate between 0.7030 and 0.7185 in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Last Friday, we highlighted that AUD ‘could edge upward to 0.7150 first before a pullback can be expected’. We added, ‘the next resistance at 0.7185 is not expected to come under threat’.

Here is what you need to know on Friday, October 23: The American dollar remained under selling pressure at the end of the week, amid political jitters in the US. Republicans and Democrats have continued to discuss a coronavirus stimulus aid package, reporting progress in discussions and indicating that they were “almost there” on an

AUD/USD bounces up at 0.7100 and returns to 0.7130 area. The aussie is set for a weekly gain despite the dovish RBA. US elections and RBA to push the AUD below 0.7000 – Westpac Australian dollar’s bearish reaction from one-week highs at 0.7155 area has been supported above 0.7100 and the pair managed to pick

NZD/USD bounces up from 0.6650 and returns to 0.6680 area. Kiwi appreciates more than 1% this week with the USD on the defensive. NZD/USD remains supported by global sentiment – Westpac. New Zealand dollar’s bearish reversal from one-month highs above 0.6700 seen on the early US session found support at 0.6650 area and the pair picked up

EUR/GBP pares losses and returns to 0.9100 area. The pound loses ground with investors growing cautious about the Brexit talks. EUR/GBP unlikely to drop below 0.8800 over the coming months – Rabobank. The euro has pared previous losses on Friday after bouncing from 0.9000 lows earlier this week and appreciate about 0.7% on the day returning

Gold prices have stabilized around the all-too-familiar $1,900 level after President Donald Trump and former Vice-President Joe Biden clashed in their last televised debate ahead of the elections. XAU/USD has room to surge if Biden wins and Democrats flip the Senate – as they would approve a generous stimulus package. The second-best outcome is a

WTI bulls gearing up for the next push higher. Cautious optimism persists amid US stimulus hopes. US oil buoyed by Russia’s intent to extend supply cuts. WTI (futures on NYMEX) is holding on to the 40.50 level amid a consolidative mode following a retreat from Thursday’s recovery rally to $41.01. The US oil remains underpinned