Despite the risk-on sentiment across the markets, fueled by recent Brexit news, the USDJPY pair struggles to show a sustainable rally. The bulls still struggle with the 112.00 barrier but first need to settle above the 100- and 200-DMAs around 111.40. The pair tried to overcome this barrier earlier this month but was rejected from 2019 highs. The UK PM May...
Brent crude is trending higher on Monday, after a brief dip below the $64 handle on Friday. The barrel has recovered since to the levels above $66 but is yet to confirm a break of this handle as the sentiment in the market looks fragile. On the one hand, crude continues to derive support from supply cuts by OPEC and US sanctions on Venezuela and Iran. Traders...
The dollar demand was getting muted towards the end of the trading week but reemerged on Thursday as the ECB dumped the euro and risk-off sentiment intensified. The majors are making some recovery attempts ahead of the US NFP jobs report due later today. Considering a rather high correlation between the ADP and NFP numbers, we could see solid results for...
AUDUSD managed to bounce off fresh three-month lows despite weak retail sales data. The pair extended losses to the lows near 0.7020, where it seems to have found some bids and turned positive on the day. On the upside, the recovery is limited by the 0.7050 area. The Australian retail sales recovered just by 0.1% in January versus +0.3% expected, after a...
Gold prices extended recent loses to fresh late-January lows around $1,281, where the bullion received some support and finished marginally higher yesterday. On Wednesday, the precious metal continues timid recovery attempts despite the dollar remains strong after the data showed a rebound in US housing and services activity. Geopolitical headlines seem to be...
Crude oil prices rose on Monday, with Brent touched a high of $66.30 but failed to stay elevated above the $66 threshold. Today, the prices are retreating, clinging to the $65 mark. The sentiment in the market continues to depend mainly on the risk trades. Risk-on tone has abated on Tuesday as Chinese officials have set the lowest growth target in nearly...
The EURUSD pair is still unable to break above the 1.14 figure that the prices were challenging last week. On Monday, the common currency continues to lose ground amid a better tone around the dollar. The pair reached one-week lows and threatens the 1.13 level that capped the recent downside pressure. Over the weekend, Trump said the dollar was too strong...
USDJPY extends the rally on Friday, with the pair refreshed 2019 highs marginally below the 112.00 handle. The greenback broke above the 111.00 barrier as well as the 100- and 200-DMAs, which added to the bullish technical picture in the short term. The ascent is due to a rally in riskier assets amid rising hopes of striking a US-China trade deal after...
Gold prices are trying to resume the ascent after a drop on Wednesday. The yellow metal failed to stay above the $1,320 figure and slipped to two-week lows below $1,317, where buyers reemerged. Today, the bullion is making attempts to regain the $1,323 threshold amid souring risk sentiment. Stocks are falling on Thursday amid the fading optimism over the...
After Trump interrupted the oil market rally, Brent crude struggles to regain the upside momentum as traders continue to digest the message from the US leader. The futures have recovered by 1% yesterday and trade almost unchanged on Wednesday, trying to find further direction. The API report was fairly bullish, with crude oil stockpiles unexpectedly fell by...
AUDUSD feels relatively comfortable in the familiar range, with the immediate resistance comes at last week’s highs around the 0.72 figure, while on the downside, the selling pressure is capped by the 0.7060 handle. The short term technical outlook looks neutral, while in the longer term, the pair could face some difficulties. The aussie feels a drag from the...
The common currency appreciated last week and has settled above the 1.13 threshold after a short-lived jump to a high of 1.1370 earlier in the week. The recent rally seems to have stalled, while the current recovery attempts look too modest at this stage. Despite the risk-on sentiment across the board, EURUSD fails to show a sustainable rally. Such dynamics...
USDJPY remains in a limited range this week, with the 111.00 figure continues to act as the key resistance. The pair dipped marginally yesterday amid investor optimism over the US-China trade talks and another portion of weak economic data from the US. On Friday, the dollar is trying to resume growth but lacks the impetus against the backdrop of mixed investor...
Crude oil prices resumed the rally on Wednesday and extended gains to the $67,43 figure. After reaching fresh November highs, Brent has settled around the $67 level and looks directionless in the short-term charts, trading with a slight bearish bias on Thursday. The recent ascent in prices was fueled by a number of factors. Saudi Energy Minister Khalid...
Gold prices received a boost from dovish comments by Fed’s Mester that sent the dollar lower nearly across the board. Traders were at a loss as this central bank official used to be hawkish, which added to the upside pressure on the precious metal. The prices surged to fresh April highs above $1,346 on Wednesday and remain elevated despite some correction from...
EURUSD is consolidating previous gains on Tuesday, with the pair has settled around the 1.13 psychological level. Despite some softness, the dollar is holding rather firm as traders are focused on US-China trade talks in Washington due to resume on Thursday. So, in the coming days, the greenback will likely remain rather robust, if, of course, the FOMC...
As the latest Fed meeting was accompanied by the central bank’s commitment to data dependence, flexibility and patience, the upcoming FOMC meeting minutes may have a significant impact on the markets and the dollar in particular as the monetary authorities are expected to clarify the prospects of their monetary policy. Should the regulator hint that the shift...
Soft US retail sales data reignited concerns among investors and weakened risk appetite in the global financial markets. However, crude oil prices showed resilience and extended the rally towards fresh nearly three-month highs around the $65 psychological mark on Friday. Brent seems to have encountered a local resistance at this level as lack of news from...