FX

Weekend politics is to dominate the open today, starting with a number of headlines pertaining to the knife-edge Brexit negotiations. Bloomberg reports that the UK has warned the EU that talks this week are ‘moment of reckoning’ for a deal. The Sunday Express reports that the UK threatens to starve the EU of cash as Brexit fury reaches boiling

Commenting on the August US jobs report, “payrolls were +1.37 million in August, close to the +1.35 million consensus,” noted TD Securities analysts. Key quotes “Private payrolls rose a lesser 1.027 million but the household survey employment measure rose 3.756 million and unemployment fell to 8.4% from 10.2%. The household survey series is much more volatile than the

EUR/USD  is trading just above flat after struggling after the NFP data. There is also a support trendline that is working very well at the moment. EUR/USD 4-hour chart EUR/USD has had a tough week as the greenback made a small comeback. The lack of progress in fiscal talks in the US and an ECB

AUD/USD trades 0.30% higher after a couple of tough sessions. The price has found some support after the NFP data. AUD/USD Price Analysis AUD/USD has pushed higher today while some of the other majors struggled. Most of the majors have recovered after the USD gained some short term strength following the US non-farm payroll data. Both

WTI benefits from the risk-on action in European equities. Concerns over weakening fuel demand could cap the upside. Corrective bounce to extend ahead of US NFP, rigs data? WTI (futures on Nymex) has caught a fresh bid-wave in the European session, extending the rebound from monthly lows of $40.23. Following a brief consolidative stint in

Developing story EUR/JPY has been in a long term bull trend since the start of may earlier this year and it has reached a supply zone on the monthly chart.  So far, the bulls have managed to hold their ground, but they are tiring as momentum slows down in the 126 handle.  This gives rise

GBP/USD witnessed some follow-through selling for the second consecutive session on Thursday. The USD built on its recovery from two-year lows and was seen as a key factor behind the slide. The sterling was weighed down by the BoE Governor Bailey’s dovish comments, softer UK PMI. The GBP/USD pair maintained its offered tone near the

Here is what you need to know on Thursday, September 3: The greenback extended its advance against most of its major rivals, holding on to gains and poised to extend its advance. The EUR was pressured by comments from ECB’s Committee member Lane, who said that they don’t look at the exchange rate, but adding

USD/CHF has established a near-term bull “wedge” after holding psychological support at 0.9000, opening the door to a correction higher to 0.9162 initially, the Credit Suisse analyst team reports. Key quotes “USD/CHF has held key psychological support at 0.9000 with RSI momentum not confirming the latest move lower and the subsequent sharp recovery has seen

Here is what you need to know on Wednesday, September 2:  After falling to fresh lows throughout the first half of the day, the dollar managed to recover some ground. The trigger was an upbeat ISM Manufacturing PMI, which spurred some profit-taking. Nevertheless, the dollar is still the weakest across the FX board. EUR/USD hit

September has kicked off with an extension of previous trends – higher stocks and a fall in the dollar. EUR/USD is trading close to 1.20, fueled by several encouraging factors. New German forecasts and the ISM Manufacturing PMI are awaited, Yohay Elam, an analyst at FXStreet, reports. Key quotes “Federal Reserve Vice-Chair Richard Clarida clarified

WTI under pressure despite a lower US dollar at the start of the week. US oil production remains constrained after Laura’s progress through the Gulf. The price of oil is currently trading at $42.87 having travelled between a low of $42.58 and a high of $43.54, lower by 0.14%. Meanwhile, Hurricane Laura spared key energy

USD/JPY regained some positive traction on Monday amid receding safe-haven demand. Upbeat Chinese PMI prints remained supportive of the prevalent risk-on environment. Fed’s dovish signal last week might hold bulls from placing fresh bets and cap the upside. The USD/JPY pair edged higher through the early European session and was last seen hovering near the

Here is what you need to know on Monday, August 31: The dollar plunged on Friday in the aftermaths of the US Powell’s announcement last week. The Federal Reserve shifted the monetary policy, putting more emphasis on employment and saying it could let inflation run beyond the 2.0% target. Japanese PM Shinzo Abe resigned over

Gold looks north amid a favorable technical set up on 4H chart. A test of July high at $1985 is inevitable, with eyes on $2000. Weekly closing above 100-SMA on 4H chart boosts the bullish odds. Friday’s surge led Gold (XAU/USD) on the verge of a falling channel breakout on the four-hour (4H) chart, as the

EUR/USD trades 0.69% higher on Friday and looks like it will close 0.89% higher on the week. The monthly chart shows the price is heading to some key levels. EUR/USD monthly chart EUR/USD has had an impressive run of late but on Friday it was some of the other major counterparts that outperformed against the

Gold (XAU/USD) booked the first weekly gain in three weeks, settling 1.20% higher above the psychological $1950 mark. The metal almost tested the critical $1976 hurdle once again on Friday, as the dovish Fed narrative continued to pressure the US dollar alongside the Treasury yields. Markets assessed the implications Fed Chair Powell’s call for lower

Patrick Timothy Harker is the President of the Federal Reserve Bank of Philadelphia who is currently speaking at the Jackson Hole symposium and he has made some comments that pretty much confirms what was said by Fed Chair Powell on Thursday. Interestingly he said he sees a very bumpy “Nike-Swoosh” style recovery. Both Harker and Bullard