FX

US dollar recovers modestly on Thursday, DXY rises toward 93.00. EUR/USD consolidating around 1.1820, falls after a four-day rally The EUR/USD is consolidating modest daily losses after posting on Wednesday the highest daily close in more than a month. A rebound of the US dollar across the board weakened the pair that is moving sideways

Gold Price Analysis: XAU/USD fails to scale 50-day SMA even as US inflation expectations rise Gold, a proven store of value, struggles to gather upside traction despite the uptick in the US inflation expectations. The yellow metal is trading at $1,918 per ounce at press time, having faced rejection above the 50-day simple moving average (SMA)

Pounds soars as Brexit are set to restart formally. EUR/GBP drops on Wednesday a hundred pips, approaches monthly lows. The EUR/GBP dropped further during the last hours after Bloomberg report that Brexit talks were set to restart, aiming for a deal by mid-November. The pair fell to 0.9016, reaching the lowest level since October 15.

Goldman Sachs said Monday in a note that a “blue wave” of victories in next month’s US Presidential Elections that would give Democrats control of both houses of parliament could lead to a whopping $2.5 trillion new stimulus plan. Key quotes (Source: Bloomberg) The stimulus plan would likely include a stimulus package in Q1, followed

Euro rises further versus the US dollar, hit monthly highs. If it holds above 1.1830, EUR/USD could extend gains over the next sessions. The EUR/USD rose further and recently climbed above 1.1830, reaching the highest level in four weeks. The pair holds near the top, consolidating important daily gains supported by a weaker US dollar

In the view of the analysts at Goldman Sachs, the vaccine optimism and a Blue wave sweeping win could boost sentiment and turn in favor of the AUD bulls in the coming weeks. Key quotes “AUD rally could be frustrated by easing expectations ahead of RBA’s 2 November meeting.“ “That said, the risk backdrop over

President Trump is trailing Biden by a wide margin but skeptics point to 2016. Nonetheless, there are seven reasons why this time is different, according to FXStreet’s Analyst Yohay Elam. The Senate race is much closer and could be more consequential for markets.  More: Key quotes “Bigger gap: According to the RealClearPolitics, former Vice-President Joe

Gold prices trim the early-day gains to $1,903.12, look for a firm direction on the daily chart. Risk tone recovers as US President Trump wants a bigger plan after House Speaker Pelosi gave Tuesday’s deadline to the White House. Brexit worries, virus woes challenge market optimism, China data dump eyed. Gold drops to $1,900.45, after

AUD/USD’s recovery attempt has been capped right below 0.7100 The previous support level turned resistance and the 50-hour SMA are limiting upside attempts. On the downside, 0.7055 level is supporting the pair. The Australian dollar has dropped nearly 2% this week weighed by US dollar strength amid a generalized rush for safety. The pair extended its

Gold is likely to open next with gains targeting 1,940 if the 50 SMA resistance is broken. An ascending parallel channel and the 100 SMA work hand in hand, providing short term support. Gold closed the week’s trading at 1,900 after a minor correction from the weekly high at 1,914. The precious metal has gradually

GBP/USD trims losses and closes the week above 1.2900. The pound shrugs off Boris Johnson’s call for a no-deal Brexit. The sterling has shown resilience on Friday and managed to trim previous losses against the US dollar despite UK PM Boris Johnson’s plea to prepare for a no-deal exit from the European Union. The pound

USD/JPY extends its rebound from 105.15 to 105.40 area Bright US consumption data boosts US dollar’s recovery. The dollar might remain between 105.00 and 106.00 for some time – UOB Greenback’s rebound from session lows at 105.15 has extended during Friday’s US session, with the pair stretching to the mid-range of 105.00, supported by positive US

Investors trimmed their open interest positions by around 6.1K contracts on Thursday, reversing at the same time three consecutive daily pullbacks in light of flash data from CME Group. Volume, too, extended the downside and receded by around 38.6K contracts. WTI stays limited by $41.50 Prices of the barrel of WTI keep the side-lined theme

The UK’s chief Brexit negotiator David Frost said on Thursday that he is surprised that the European Union is no longer committed to working intensively to reach a future partnership, as reported by Reuters. Additional takeaways “Also surprised by the suggestion that to get an agreement all future moves must come from the UK.” “It’s an

USD/CHF directs the previous day’s failure to cross 0.9150 towards 0.9100 round-figure. 50-day SMA, 61.8% Fibonacci retracement offer immediate supports amid bearish MACD. Bulls can target 0.9200 after the trendline break. USD/CHF drops to 0.9131, down 0.05%, while heading into the European session on Thursday. In doing so, the pair respects the previous day’s pullback

Loonie hits daily lows versus the dollar but remains under control. USD/CAD holds a bearish bias despite rising for two consecutive days. The USD/CAD is rising for the second day in a row but is still trading sharply lower compared to the level it had a week ago and still the bias points to the

The latest data from Germany’s Robert Koch Institute (RKI) backs the market’s fears of a larger coronavirus (COVID-19) wave while surging to the five-month high. Not only the daily new confirmed cases that grew 5,132 to 334,585 but the death toll also spiked up with 40 more fatalities taking the total to 9,677. It’s worth

Mexican peso losses momentum against US dollar, holds positive bias. USD/MXN rebounds from key support area at 21.15. The USD/MXN is rising on Tuesday for the second day in a row, at a modest pace. It continues to rebound from the 21.15 support line. A consolidation under 21.10 is needed to clear the way to