AUD/USD has had a strong run since mid-March, trading from .5701 to .7243. The Reserve Bank of Australia (RBA) stated at their last meeting that given the recent outbreaks of the coronavirus and localized shutdowns, current monetary policy was...
Markets will place an extra weight on employment readings and GDP growth figures out of the UK on Tuesday (08:30 GMT) and Wednesday (06:00 GMT) respectively after the Bank of England showed concerns of a rising unemployment rate at...
AUDUSD completed a double top formation around the 0.7243 resistance level and dropped beneath the 0.7174 resistance and the 40-period simple moving average (SMA). However, the price found strong support at the 23.6% Fibonacci retracement level of the up...
Markets continue to tread water today with little movements. European indices are fluctuating in tight range between gain and loss. US futures point to mildly higher open. In the currency markets, most major pairs and crosses are stuck in...
USDJPY is testing the 100-period simple moving average (SMA) in the 4-hour chart and the upper boundary of the Bollinger band, remaining around the 106.00 handle. The RSI indicator is pointing slightly up in the positive territory, while the...
Oil's price action underwhelms
Having failed to push on with upside breakouts early last week, a stronger US dollar on Friday saw that momentum fade yet again, with both Brent crude and WTI finishing lower. Brent crude fell 1.10% to...
Bank of France said in the monthly report that economic activity is running -7% below normal levels in July. That follows -13.8% contraction in the economy in Q2.
It also noted, in July, "industrial activity continued to recover, albeit at...
Gold finished Friday's session in the red after pulling slightly below its new record high of 2,079, but overall managed to add another constructive week for the ninth consecutive time.
In the daily chart, technical signals remain cautiously bullish. The...
EURUSD had been in a strong bullish rally until it reached a new 27-month high of 1.1915 on Thursday, that caused the pair to correct down below the 1.1800 round number.
The technical indicators are losing momentum as the MACD...
Eurozone Sentix Investor Confidence rose to -13.4 in August, up from -18.3, beat expectation of -15.2. It's also the fourth increase in a row, and highest since February. Current Situation index rose to -41.3, up from -49.5, highest since...
After a mixed performance at the start of the trading week, stocks across key Asian markets turned green with Australia's ASX 200 and South Korea's KOSPI outperforming their peers and gaining 1.7% and 1.5% respectively. European benchmarks are also...
This morning, official data showed that grew 2.7% on year in July (vs +2.6% expected), while PPI dropped 2.4% (vs -2.5% expected). Australian economy remains closely linked to China. Tomorrow, July Australian NAB Business Confidence will be expected at...
The week starts with a rather subdued tone without much activity. It's National Day of Singapore while Japan is also on Mountain Day holiday. There is also no further price movements on US-China tensions. Major forex pairs and crosses...
August' preliminary reading of New Zealand ANZ Business Confidence dropped back to -42.4, down form -31.8. It's still above lockdown low of -55, though. Own Activity Outlook also dropped to -17.0, down from -8.9.
ANZ said the reading "adds to...
Key Highlights
Gold price rallied above the $2,000 resistance for the first time ever.
A new all-time high is formed near $2,075 the price is currently correcting lower.
The US Nonfarm Payrolls increased 1,763K in July 2020.
The US...
Chicago Fed President Charles Evans said in a CBS interview that "we've not control over the virus spread," and "another support package is really incredibly important". He emphasized the importance of public confidence "so that people feel good about...
We expect RBNZ to leave the OCR unchanged at 0.25% this week. It will likely increase the size of the Large-Scale Asset Purchase (LSAP) Program (QE) to NZD 80-90B from the current NZD 60B. The accompanying statement would contain...
According to the CFTC Commitments of Traders report for the week ended August 4, NET LENGTH for crude oil futures gained +3 697 contracts to 536 266 for the week. Speculative long position rose +16 930 contracts, while shorts...
As suggested in the CFTC Commitments of Traders report in the week ended August 4, NET SHORT for USD Index futures decreased -252 to 6 475 contracts. Bets fell on both sides as the greenback is still finding bottom...
Dollar was under pressure most of the week on risk-on sentiments. NASDAQ gapped higher and marched to new record highs. Nevertheless, the greenback staged a notable comeback after combination move by the US administration against the Chinese Communist Party,...