FX

As per the latest coronavirus (COVID-19) data from Germany’s Robert Koch Institute (RKI), active cases in the country sat around ~39,000 as of yesterday while the latest update today sees another 13 deaths so that brings the total tally to 9,634 persons. Additional details suggest that the cases grew 4,122 to 329,453 by the press

The NZD/USD pair is likely to trade around 0.65 in a 1-3 month view amid the Reserve Bank of New Zealand’s (RBNZ) dovish rhetoric, Rabobank Senior FX Strategist Jane Foley argues.  Key quotes “In Q2, New Zealand GDP shrank by a record 12.2% q/q. This contraction was around half of the 23.5% q/q fall that

With the US presidential election coming closer, up for November 05, global banks come forward with their analysis concerning the most likely outcome if the market favorite Democrats win. A blue wave referred to as the Democrat’s control of the presidency and both chambers of Congress will become a positive catalyst for energy commodities, per the

Here is what you need to know on Monday, October 12:  Hopes for a US coronavirus stimulus package led the way at the end of the week. The greenback came under strong selling pressure, ending the week with sharp losses against most major rivals. White House advisor Larry Kudlow said that US President Donald Trump

The UK will try out every way to reach a trade deal with the European Union (EU), the British Prime Minister (PM) Boris Johnson told French President Emmanuel Macron on Saturday, Downing Street office cited a read-out of the call. Key quotes “(Johnson) confirmed the UK’s commitment to exploring every avenue to reach an agreement.”

The People’s Bank of China (PBOC) will slash its reserve requirement ratio (RRR) to zero for some forex exchange forwards trading, effective from Monday, the central bank said on its website this Saturday. The PBOC said: “The People’s Bank of China (PBOC) will continue to maintain flexibility in the exchange rate, stabilize market expectations, and

Previewing next week’s key events in the UK, TD Securities analysts noted that the UK wants to finalize the outline of a deal with the EU by October 15. Key quotes “There are high expectations for some high-level give & take to finally push negotiations over the line and into the infamous “tunnel.” However, we

Gold has been moving higher in the hope the Congress approves a multi-trillion fiscal stimulus deal. President Donald Trump is reportedly eager to strike an accord ahead of the elections, while his fellow Republicans seem reluctant to go with him, especially given his standing in the polls.  Will Trump get his way? The precious metal

GBP/CAD recovers from September 01 low while staying inside a weekly falling channel. Sustained trading below 200-bar SMA, bearish chart pattern battle bullish candlestick formation. One-month-old support line offers intermediate rest ahead of the channel’s lower line. GBP/CAD seesaws around 1.7085 after bouncing off the lowest since the month’s start during the early Friday. In

US House Speaker Nancy Pelosi noted on Thursday that there will not be a standalone airline bill without a comprehensive COVID relief bill, as reported by Reuters. Pelosi further noted that she will be happy to review a standalone airline bill if they are offered a broader COVID relief bill. Market reaction The S&P 500

According to the latest data from the German disease and epidemic control center, Robert Koch Institute (RKI), the number of confirmed coronavirus cases rose to 310,144 with a total of 9,578 deaths reported on Thursday. The number of new infections rose by a whopping 4,058 on Thursday while the death toll rose by 16, the

US President Donald Trump made a terrible mistake by ending coronavirus aid negotiations, US House Speaker Nancy Pelosi told ABC on Wednesday, as reported by Reuters. “It is really important to come to an agreement on COVID-19 aid,” Pelosi added and said that it was a missed opportunity to not pass a larger relief package. Market

Gold Price Analysis: Bears back in the drivers seat, 1:3 R/R setup in place Gold prices are weaker as the week goes by and have fallen into the bear’s liar. The price of gold has moved into bearish territory offering a trade setup scenario. A 1:3 R/R 4-hour swing trade is on the cards, but

Jerome Powell, Chairman of the Federal Reserve System, is responding to questions at the National Association for Business Economics’ 62nd Annual Meeting. Key quotes “If recovery is slower, rates will be at lower bound for longer; guidance is outcome-based, not time-based.” “Lots of people will benefit from low rates; low unemployment before the crisis had

GBP/USD Price Analysis: Refreshes 12-day top but rising wedge on 4H probes the bulls GBP/USD rises to the highest in more than two weeks while trading around 1.2985, the intraday top being 1.2992, during the early Tuesday morning in Asia. In doing so, the Cable attacks 38.2% Fibonacci retracement of the September month’s downside amid

Jonathan Haskel, Bank of England (BoE) Monetary Policy Committee (MPC) member, said on Monday that he expects measured productivity to fall due to COVID-19 as health and safety improvements hard to measure, as reported by Reuters. Additional takeaways “Rising UK mortgage rates probably reflect the withdrawal of cheaper products, risk aversion.” “Fiscal policy is doing a lot

Analysts at Scotiabank offer a brief preview of the US Federal Reserve (Fed) September monetary policy meeting minutes due this Wednesday. Key quotes “The … meeting … introduced unexpected dissension in the ranks when two officials voted against the statement “One consideration will be whether debate and opposing views were somewhat more prevalent across non-voting FOMC

Here is what you need to know on Monday, October 5:  The coronavirus extended its claws to the White House. US President Trump announced on Friday that he and his wife Melania contracted COVID-19. As the day went by, the news reported that several of his advisor and staff members also caught the virus. Risk-off