FX

Four senior congressmen write to Boris Johnson to reiterate there will be no US-UK trade deal if the legislation to override the EU-UK Withdrawal Agreement isn’t pulled pic.twitter.com/Q3n7yewn0S — Sam Coates Sky (@SamCoatesSky) September 15, 2020 The tweet is a follow up of earlier informal warnings from Rep. Nancy Pelosi, Speaker of the United States House

AUD/USD rose sharply on upbeat Chinese data on Tuesday. US Dollar Index stays in the negative territory below 93.00. RBA reiterated that it will not hike rates until progress is made toward full employment. The AUD/USD pair gained traction during the Asian session on Tuesday and climbed to its highest level since September 3rd at

Amid the on-going Sino-American tussle, the Trump administration silently eased stance towards China and Hong Kong. This comes after the “US State Department said on Monday it had eased a travel advisory for Americans considering travel to China or Hong Kong from ‘Do Not Travel’ to ‘Reconsider Travel.’, as per Reuters. Key quotes The State

NZD/USD is edging higher after finishing the previous week in the red. US Dollar Index retreats toward 93.00 on Monday. Risk-on market environment makes it difficult for the USD to find demand. The NZD/USD pair registered modest daily gains on Friday but closed the week modestly lower. With the market sentiment turning positive at the

Telegraph came out with the story suggesting a delay in the UK’s much-awaited budget during the early Monday morning in Asia. The news cited anonymous sources to suggest that the Chancellor Rishi Sunak searched for leeway to announce the budget amid the coronavirus (COVID-19) resurgence. Key quotes Treasury sources say Chancellor wants ‘flexibility’ to hold

The United States’ federal budget deficit rose above $3 trillion for the first eleven months of fiscal 2020 amid the massive increase in government spending to counter the negative impact of the coronavirus outbreak, the data published by the US Treasury Department showed on Friday. During the same period of 2019, the deficit was $1.067 trillion. 

WTI has pushed 0.87% from the lows on Friday.  The Baker Hughes rig count once again stalls. WTI 1-hour chart WTI has been in freefall for most of the week dropping 5.28% this week following on from last weeks loss of 8.16% drop. There has been a small recovery and now it seems there is

Gold is in the middle of a downtrend as far as the RSI is concerned. XAU/USD has the potential breakout to highs above 2,000. The world’s precious metal has been trading a lower high and a lower low pattern for the past two days. A descending trendline continues to limit the upside. This week’s barrier

EUR/USD has pushed up 0.21% on Friday and is flat for the week. The price has now moved back to the middle of the weekly range. EUR/USD fundamentals EUR/USD has had an interesting week, to say the least. There have been Brexit woes to deal with but the pair managed to hold up after the

NASDAQ:NVAX gains 2.22% on Thursday despite broader market dip. News of AstraZeneca halting its COVID-19 vaccine study has boosted other rivals in the industry. Novavax has dropped nearly half of its market cap during the last month, enticing bargain investors. NASDAQ:NVAX has gained where its rivals have faltered as the race for the coronavirus vaccine

AUD/JPY prints fifth failure to cross 50-bar SMA in the last seven days. Bullish MACD keeps the quote above 200-bar SMA. Monthly high will get the bull’s attention during the strong upside, sellers may eye August 20 low. AUD/JPY stays pressured around 77.00 amid the early Friday morning in Asia. In doing so, the Aussie

NYSE:KODK rises 5.24% after a renowned investment firm initiates a new position. Investors anticipate the federal loan being released and Kodak to begin supplying the U.S. with active pharmaceutical ingredients. It has been a strange year for a multitude of reasons but not the least of which has been the sudden resurgence of Eastman Kodak

After the UK’s Internal Market Bill sounded all alarms for the European Union (EU) policymakers, Telegraph came with news suggesting the bloc’s readiness to file a suit against its ex-neighbor. It was also confirmed that European Commission Vice-President Maroš Šefčovič will meet with the UK’s Michael Gove on Thursday to seek clarifications on the full

GBP/USD remained depressed for the sixth consecutive session on Wednesday. Rising fears of a no-deal Brexit, sustained USD buying continued exerting pressure. Bearish traders now await the UK internal market bill for some meaningful impetus. The GBP/USD pair now seems to have entered a bearish consolidation phase and was seen oscillating in a range near

The Dow Jones Industrial Average fell 632.42 points, or 2.25% The S&P 500 lost 95.12 points, or 2.78%, to 3,331.84. The Nasdaq Composite dropped 465.44 points, or 4.11%. US benchmarks ended lower for a third straight session on Tuesday, with Nasdaq falling 4.1% and officially confirming a correction. Technology dragged down the market as it extended

In its latest report, the US-based Fitch Ratings reduced its long-term price forecasts for both Brent and West Texas Intermediate (WTI) oil. Key points “The cut in the price forecast is to reflect large underutilized production capacities, the extended period of high oil inventory caused by the coronavirus pandemic, falling upstream unit costs and the long-term

AUD/USD remains pressured inside a choppy range between 0.7275 and 0.7280 as Tuesday’s Asian session begins. The absence of US traders, major data/events restrict market activity at the week’s start. Geopolitical tension between China and India joins the Sino-US tussle to weigh on the risk-tone. Aussie NAB Business Confidence, US NIFB Business Optimism Index, Consumer

Growing fears of a no-deal Brexit prompted some fresh selling around GBP/USD on Monday. A goodish pickup in the USD demand further contributed to the slide below the 1.3200 mark. The GBP/USD pair failed to capitalize on Friday’s goodish rebound of around 100 pips, instead met with some fresh supply on the first day of