The Japanese yen is trading marginally higher on Friday as risk sentiment turned sour after two days of rising market optimism. USDJPY still struggles to regain the 114.00 hurdle as investor sentiment is unstable and the greenback lacks the upside impetus. In the weekly charts however the pair is firmly in the positive territory after a deep slide during the...
In the weekly charts, gold prices are trading in the negative territory but the overall dynamics continues to im-prove. Earlier this week, the bullion reached the $1,250 handle for the first time since July, which is another con-firmation of reaching a bottom at $1,160 in August. Further dynamics in the yellow metal will depend on the fate of the dollar’s...
Ahead of tomorrow’s ECB meeting, EURUSD has settled marginally above the 1.13 threshold and doesn’t dare to challenge the 1.14 barrier since the start of the week. After two days of declines, the euro makes some recovery attempts on Wednesday but the overall demand looks very limited due to growing concerns over the spreading political crisis across the EU. ...
Gold prices have been in a recovery mode since August, when the metal found a bottom at $1,160. Despite the corrective rebound is bumpy and uneasy, the technical picture has improved significantly, especially after last week’s rally that was the most aggressive since March. Yesterday, the precious metal has reached a mid-July high above $1,250, where it was...
After a short-term positive reaction to the OPEC+ deal on Friday, crude oil prices struggle to show a sustained recovery as the exporters agreed to curb output by 1.2 million barrels a day. Despite a consensus was finally reached, investors refrain from aggressive buying as there are some doubts that all the members of the group will fulfill their obligations...
The greenback is mixed on Friday as traders take a cautious tone ahead of the key US NFP employment report. The release could bring back short-term volatility in the dollar pairs but the broader picture will still depend on the Federal Reserve rate hike bet. The US-China trade war, prospects of slower global growth, and a more cautious tone by the Fed make...
Global markets are trading in a risk-off mode on Thursday amid a potential escalation of US-China trade tensions despite the two countries reached a 90-daycease-fire a few days ago. The Huawei Technologies executive was arrested in Canada at the request of the United States. The arrest is related to the supposed violation of US sanctions on Iran and now Meng...
Crude oil prices show a mixed dynamics this week amid the contradictory signals ahead of the crucial OPEC+ summit in Vienna. After the Monday’s rally, Brent dipped yesterday but managed to hold above the $61 thresh-old that is standing on the way to the key psychologically important support at $60. On Wednesday, the prices quickly derailed the $61 level but met...
There is no reprieve for the greenback on Tuesday as all the major factors point to further waning of its attrac-tiveness. The US currency struggles to regain strength after the recent change in the Fed’s tone on tightening prospects. Recent investor optimism over the US-China trade negotiations added to the bearishness as well. Today, the PBOC has...
After a meeting between Donald Trump and Chinese leader Xi Jinping at the Group of 20 summit, the two lead-ers reached a 90-day cease-fire in their trade dispute. Global investors are cheering the breakthrough that as-sumes that the US will hold off on his plan to raise tariffs on $200 billion in Chinese goods early next year. Against this backdrop,...
After a brief relief, crude oil prices extend loses Friday. Brent keeps bleeding for an eights week in a row as demand-supply concerns still persist in the market ahead of the crucial OPEC+ meeting due next week. The prices failed to regain the $60 threshold and turned negative on the day, still threatening long-term lows below $58. Over the weekend, the G20...
The greenback continues to bleed nearly across the board, digesting the unexpectedly “dovish” tone from Pow-ell. The Fed Governor stated that rates were just below neutral range and didn’t mention a future 'gradual path of rate hikes for next year. Such rhetoric made traders worry about the potential pausing hikes in 2019. As a result, the dollar came under...
After yesterday’s decline, EURUSD tried to stage a recovery but failed to attract buyers and resumed the downside move even as the dollar demand seems to be losing steam following the recent rally. The pair was rejected from the 1.13 handle and refreshed two-week lows below 1.1270. Despite the talks of Trump’s auto tariffs were denied today, the speculations...
The greenback continues its ascent on Tuesday, with the major currencies are on the defensive ahead of this week’s G 20 Summit in Argentina. The pound is broadly lower as Brexit deal hopes continue to fade. GBPUSD slipped to mid-November lows around 1.2733, which helps to lift the buck. Interestingly, the EURUSD pair is also edging lower even as the Italian...
The euro recovery is gaining traction on Monday after a steep decline late last week. EURUSD is extending gains above 1.13 but lacks momentum to challenge the 1.14 handle so far. The local demand growth is due to some positive developments in Italy. In particular, Italy's deputy prime minister Luigi Di Maio hinted at a possible budget deficit reduction. As...
Crude oil prices resumed the decline after some shallow recovery attempts earlier this week. On Friday, Brent has challenged the $62 support and slipped to fresh February lows around $61.80. The selling pressure has eased a bit since then but downside risks remain as the barrel struggles to get back above $62. The market has shifted focus to the upcoming...
Unstable investor sentiment prevents the USDJPY pair from a more robust recovery. The financial markets fail to show a steady rise due to a number of risk factors, from US-China trade war to Brexit and global growth. Against this backdrop, safe haven demand prevails and helps the Japanese yen to stay afloat even as the Bank of Japan continues to adhere to its...
The positive sentiment in risk appetite underpins the euro on Wednesday. Yesterday, EURUSD was rejected from daily highs still below 1.15 and slipped under 1.1360. Now, the pair is trading positive on the day but still struggles to regain the 1.14 figure which confirms a cautious tone amid the Italy’s budget woes. The reports that Italy may make cuts to the...