Last week, USDJPY fell decently from the 100-DMA around 110.70, but once again managed to hold above the key 109.00 support area. The pair was driven by safe-haven yen demand amid escalation in the US-China trade war coupled with the general dollar weakness. The greenback is making some bullish attempts on Monday, however, the upside potential looks limited as...
The U.S. dollar came under strong selling pressure as poor macroeconomic data coupled with rising tensions between the U.S. and China took the gloss off the greenback in investors' eyes. The U.S. Dollar Index (DXY) collapsed below 98.00 amid growing concerns over the health of the American economy and the side effects of the US-Sino trade war on the global...
The British pound has been a big loser recently, which is hardly a surprise to anyone. The British Prime Minister Theresa May is still struggling to get her Brexit deal through the parliament, while the opposition increasingly calls for her to resign. The degree of political and economic uncertainty skyrocketing, making it virtually impossible for the corporates...
Oil prices extended the decline on Wednesday and headed for the most prolonged sell-off period since the end of April amid growing concerns that the trade spat between the U.S. and China will slow down the global economic growth and hamper the oil demand. In a separate development, the American Petroleum Institute (API) published a weekly report on U.S. crude...
The Swiss Franc has been nursing losses since late New York session on Monday as traders took SNB's intervention threats close to heart. The bearish momentum was prompted by intervention fears as the Swiss National Bank stands ready to step in if it deeds necessary to ensure the market stability, according to the recent comments of Thomas Moser, the...
The Australian Dollar snapped a five-days long sell-off on Monday after a surprise win for Scott Morrison in elections over the weekend. The country's ruling Liberal-National coalition headed Prime Minister Scott Morrison managed to stay at the helm in what is considered to be a miracle victory as Labor party had been widely expected to win. The shock...
USDJPY made some bullish attempts early on Friday but faced rejection from one-week highs around the 110.00 figure and turned negative on the day after a brief relief yesterday. The pair retreated closer to mid-109.00s, where is received a short-term support in the form of the 100-hour moving average. The yen’s safe-haven status if further underpinned by the...
Brent futures finished decently higher for the second consecutive trading day on Wednesday. Today, the prices extend gains, with Brent is challenging the $72 barrier again, having registered a daily high of $72.30. The short-term technical picture looks constructive at this stage. The EIA report was mixed yesterday but traders decided to focus on positive...
After two days of losses, EURUSD makes recovery attempts on Wednesday but the rebound looks unsustainable and the common currency is still vulnerable. Following a rejection from early-May highs around 1.1260, the prices struggle to stay above the 1.12 handle. German Q1 GDP came in as expected at 0.4% q/q. This is the first quarter growth since Q2 2018. The...
Gold prices rallied decently yesterday, with the bullion broke above the 100-DMA, which acts as a support level around $1,297 on Tuesday as the bullish momentum is waning. The prices extended gains to one-month highs above $1,300 but failed to confirm a bullish breakthrough and started to retreat. The bullion is closely following investor sentiment in the...
After a brief recovery on Friday, USDJPY resumed the downside move at the start of a new trading week as Asian markets suffered early week losses. Late last week, the pair dipped to early-February lows marginally below the 109.50 area and remains in the lower part of the trading range, threatening the lows. Trump’s aggressive rhetoric towards China spooked...
Crude oil prices saw a directional trade yesterday. Brent remains highly volatile these days as traders are nervously monitoring the news on the US-China trade talks. On Friday, the futures are making further bullish attempts above $71 but still struggle to overcome this level as uncertainty persists. Overnight, US has hiked tariffs on $200 billion of Chinese...
Against the backdrop of widespread risk aversion that drives global markets lower this week, USDJPY has aggressively weakened farther below the 110.00 handle to fresh three-month lows around 109.60 on Thursday. Yesterday, Trump further toughened his stance toward China, threatening to prolong his trade war with Beijing, which signaled that it was prepared to...
Gold prices are rising this week as concerns over the US-China trade relations fueled safe-haven demand in the global markets. On Wednesday, the bullion extended gains to mid-April highs marginally below the $1,290 handle and could make further bullish attempts if trade tensions continue to rise. US-China trade talks will resume in Washington tomorrow. After...
Brent crude saw a very volatile trading on Monday with markets were digesting the unexpected US-China trade war escalation after Trump threatened to tighten tariffs on Chinese exports. The announcement triggered a massive sell-off in the global markets, including oil. Investor sentiment has stabilized since then but some caution still prevails, which caps the...
The USDJPY pair dropped dramatically on Monday after a plunge late last week, witnesses amid a widespread dollar selling following mixed labor market data from the US. The prices extended losses to late-March lows around 110.30 earlier in the day and has settled marginally below 112.00 since then. The latest plunge in the pair was due to a fresh wave of...
Extending the post-FOMC retracement from nearly two-week highs, EURUSD struggles to regain the upside momentum for a third day in a row on Friday. The pair failed to confirm a break above 1.12 and retreated to the 1.1150 area which is under threat now. Interestingly, the euro remains under pressure despite better-than-expected European inflation data....
Crude oil prices managed to strike a third day of gains yesterday but failed to keep the upside momentum and turned lower today as traders are digesting the latest report from the US. According to the EIA data, US crude stockpiles last week jumped by nearly 10 million barrels to 470.6 million barrels, to their highest since September 2017. Meanwhile,...