After three weeks of gains, Brent is trading directionless on Monday. The official Chinese data confirmed that the country’s economy has slowed in 2018 to 6.6%, which was the lowest growth rate in 28 years. But the numbers failed to spook investors as the expectations were even more bearish. In general, the risk sentiment looks subdued which prevents oil prices...
The euro turned marginally higher on Friday but in weekly charts, the EURUSD remains firmly in the red. The common currency continues its efforts to break above the 1.14 handle which is in focus these days. The pair still lacks the directional impetus amid lack of meaningful drivers. Traders continue to digest a more cautious ECB stance. Investors are now...
The US dollar is trading in a mixed mode on Thursday, appreciating against the euro and declining against the Japanese yen. The dynamics reflects the lack of risk appetite in the global financial markets as investors continue to worry about slowing global growth, the US government shutdown, and political and economic issues in Europe. The greenback is moving...
Gold, along with other safe-haven assets, failed to receive a boost from a parliamentary vote in the UK where Theresa May suffered the worst defeatof a government in the history of the House of Commons. Now, investors bet on a ‘softer’ Brexit, which in turn supports high-yielding assets, while the Japanese yen and gold turned lower on Tuesday. Today, the...
Euro is trading little changed from the early January levels, demonstrating a neutral dynamics. On the weekly charts, EURUSD is stuck between the 100- and 200-SMAs and continues to trade within a limited range. But the general dollar weakness suggests the common currency could resume the rally after the current retreat. To make a new bullish breakthrough, the...
A fresh flurry of bearish news renewed safe-haven demand at the start of a new trading week, with the Japanese yen is back on the offensive after two days of a limited correction. USDJPY failed to break above 109.00 last week and now threatens the 108.00 figure again on Monday. In another sign that US-China trade war hurts the global economy, the huge...
Gold prices climbed to fresh six-month highs a week ago as the rally was capped by the psychological barrier at $1,300. The precious metal failed to regain the sustainable traction since then and goes through a consolidation mode in anticipation of fresh drivers. On Friday, the prices resumed the upside move, challenging the $1,295 handle. In the weekly and...
The greenback outperformed its major rivals in 2018, though felt much worse towards the end of the year. Since the start of January, the US currency faces an even stronger selling pressure as the Federal Reserve is sending clearer signals about a pause in further tightening due to slowing growth in the US and globally, trade wars, and the increasing political...
The common currency resumed the rise on Wednesday after a brief retreat yesterday. EURUSD is still stuck in a range limited by the 1.14 barrier on the upside as bulls lack the incentive to make a clear break above the 100-DMA that caps the momentum since late-September. However, there are some arguments for euro gains in the medium term. First, the dollar...
After a brief pause that was just a short-term bounce within a bullish trend, gold prices resumed the ascent on Thursday, though failed to challenge the six-month highs close to $1280 reached the day before. On Friday, the price has refreshed a six-month high above $1281 and looks set to target the key $1300 barrier. The yellow met-al continues to attract demand...
The US stock markets shifted to a recovery mode on Wednesday after an aggressive pre-Christmas sell-off. S&P 500 gained by nearly 5%, with most sectors turned green. However, the rebound was more like a dead cat bounce and a sign that the selling was overdone rather than an improvement in investor sentiment. By the way, risk trends looked less robust in Asia on...
The greenback has been losing ground aggressively at the end of the year. The US currency fails to resist the fundamental bearish drivers threatening to derail the already vulnerable upside trend in the USD. These drivers are the widespread rout in the US stock markets, concerns over the economic growth, Trump’s aggressive for-eign policy and political disputes,...
After a short-lived corrective rally on Friday, the greenback is back under the selling pressure at the start of the last trading week on the year. The market liquidity is getting thinner ahead of Christmas holidays, and the trad-ing activity will be rather subdued in the days to come. The buck finishes the month on a weaker note, while the government shutdown...
The greenback remains on the defensive against major currencies on Friday, though the downside pressure has eased somehow after an aggressive sell-off yesterday. Due to a widespread USD weakness, EURUSD reached a 1.5-month high at 1.1485, where the 100-DMA lies. This area capped the upside potential on Thursday but the upside risks are still there. So the key...
USDJPY tumbled to nearly two-month lows below the 112.00 handle on Thursday, continuing to march south for a fifth day in a row. The dollar struggled to get a relief from the Fed’s unexpectedly ‘hawkish’ tone as the safe-haven demand has surged after the central bank meeting. Such a behavior in the market shows that the risk trends set the tone for investors...
The recovery in gold prices from August lows is gaining momentum. On Wednesday, the precious metal has extended weekly gains to fresh mid-July highs marginally above $1,251 and holds in the positive territory, ex-pecting fresh short-term drivers. It looks like gold is shining again, after a break of the aggressive bearish trend. The bullion’s appeal is...
After several failed attempts to settle above the $60 figure, Brent crude has accelerated its decline and made fresh 14-month lows marginally above $57 on Tuesday. The current environment in the markets confirms that not only oil remains attractive for selling on rallies, but traders tend to open short positions and don’t believe in the efficiency of a new OPEC+...
The dollar turned negative on Monday following a widespread rally at the end of last week. The USD demand ebbs even as the risk sentiment remains subdued as investors still prefer a cautious approach due to the linger-ing global risks. The EURUSD pair has switched to a recovery mode and trades around the 1.1350 area. Interestingly, the euro is rising despite...