FX

The emerging market currencies have been slammed over the past week or so. Names like Brazilian real, Mexican peso and South African rand have declined by 5.65% to 4.48%, respectively.  “We are in a real EM sell-off now,” Robin Brooks, chief economist at the Institute of International Finance (IIF) and former chief strategist at the

USD/JPY turned positive for the fourth consecutive session and shot to fresh one-week tops. Coronavirus jitters, worries of an economic slowdown continued benefitting the greenback. The risk-off mood underpinned the safe-haven JPY and capped any further gains for the pair. The USD/JPY pair edged higher during the early North American session and was last seen

Gold Price Analysis: XAU/USD’s potential short-term reprieve if USD pulls back Gold prices have deteriorated in the US dollar’s relentless comeback as investors move away from stocks. The price of the dollar is correlated to gold, so it stands to reason that if the dollar is about to tail off its gains, then gold should

GBP/JPY staged a modest intraday recovery of around 80 pips from the 50% Fibo. level. The set-up still favours bearish traders and supports prospects for additional weakness. Hence, any subsequent move up might still be seen as an opportunity for bearish traders. The GBP/JPY cross once again showed some resilience below the 50% Fibonacci level

GBP/USD snaps three-day losing streak while recovering from two-month low. Bearish MACD, September 11 low can probe the pullback moves. 61.8% Fibonacci retracement joins 200-day and 100-day SMAs to restrict immediate downside. GBP/USD extends recovery moves from 1.2710 towards attacking 1.2750, currently near intraday high of 1.2745, as markets in Tokyo open for Wednesday’s trading.

S&P 500 ideally holds below resistance at 3319/29 to keep its immediate risk lower for a deeper corrective setback to 3204/00, potentially the 200-day average at 3104, analysts at Credit Suisse apprise. More: Key quotes “The S&P 500 gapped sharply lower on Monday at the open and although the market subsequently managed to recover a

NZD/USD consolidates the previous day’s losses from the seven-day low of 0.6651. Virus-led risk aversion remains as the key driver, US dollar strength cheered the most. Traders seem to prepare for Wednesday’s RBNZ, Fedspeak can offer intermediate moves. NZD/USD struggles for a clear direction near 0.6665 during Tuesday’s Asian session. The pair dropped the most

S&P 500 has fallen as expected to test its key medium-term 63-day average, now at 3292. Although this is holding at present, the risk is seen for a close below 3292 with next supports seen at 3285/80 and then 3260/59, per Credit Suisse. More: S&P 500 Index needs further fiscal support to avoid a correction Key

NZD/USD has corrected from fresh highs as markets eye the RBNZ this week. The optimism of a fast recovery from the deepest recession in decades has buoyed the bird. NZD/USD is currently trading at 0.6758 in a quiet start to the week in Asia, oscillating between a low of 0.6752 and 0.6768. With an upside correction in

The troy ounce of the precious metal closed the week modestly higher at $1,950 but struggled to make a decisive move in either direction. Following its September policy meeting, the Federal Reserve kept its policy rate unchanged as expected and adopted a relatively more optimistic tone with regards to economic recovery. However, the greenback struggled

EU rejects the UK Internal Market Bill – of course! On Thursday Boris Johnson’s Conservative government published their proposed changes to the internal market bill. The bill has received parliamentary approval (House of Commons) but is set to go to the House of Lords to see if the bill is passed into law. The bill would

XAU/USD failed to make a decisive move in either direction this week. $1,925 aligns as a critical support for gold. The descending triangle on the daily chart points out to a bearish outlook. The troy ounce of the precious metal fluctuated in a relatively tight range throughout the week and closed with a gain of

Gold is trading 0.34% higher after another slow week. The Fed did the precious metal no favours with no changes in policy. Gold daily chart Gold has had another tough week as the Fed disappointed the market with no real additional information about the new policies. There was one thing of now as the dot

EUR/USD has been advancing as the dollar pares some of its Fed-related gains but US consumer sentiment and coronavirus headlines from Europe may reverse the recovery, in the opinion of FXStreet’s analyst Yohay Elam. See – EUR/USD maintains the sideways range with resistance seen at 1.1868 – Credit Suisse Key quotes “The Fed signaled no rate rises

WTI fizzles the run-up above $40.00 after flashing two-week high of $41.48. Overbought RSI conditions, strong SMA probe the bulls. Sellers await a clear downside break of 61.8% Fibonacci retracement level around the $41.00 area. WTI consolidates the recent gains to $41.48 within a choppy range above $41.00, currently up 0.20% around $41.30, during the

GBP/USD Forecast: BOE may compound the Fed and trigger greater downfall The Brexit bonanza has proved short-lived – Pound bulls prematurely celebrated Prime Minister Boris Johnson’s climbdown before the Federal Reserve sent the safe-haven dollar higher. Now it is the Bank of England’s turn to move cable – and potentially tilt it lower. PM Johnson

NZD/USD keeps the post-Fed recovery despite shrugging off New Zealand (NZ) GDP data. New Zealand’s second-quarter (Q2) GDP shrank 12.2% QoQ versus -12.8% forecast. US Federal Reserve struck mildly hawkish tone despite showing readiness to pump the markets for longer. Aussie employment data will be the key ahead of the next week’s RBNZ. NZD/USD remains

AUD/USD posts modest daily gains above 0.7300 on Wednesday. USD struggles to find demand ahead of FOMC’s policy announcements. Labour market data from Australia will be released on Thursday. The AUD/USD pair closed the first two days of the week modestly higher and preserved its bullish momentum on Wednesday. As of writing, the pair was