The EURUSD extends its slide on Friday after sharp losses yesterday, as traders are digesting the developments in Italy. The government approved a controversial budget, which aims for a deficit of 2.4% of GDP in 2019.The markets expected that the deficit would be below 2%, in line with EU rules. Moreover, the number may get even higher as the budget is debated...
Brent crude extends its gains on Thursday, with price has refreshed four-year highs marginally below the $82 handle which is the immediate target for bulls now. The barrel has trimmed gains later but remains in the positive territory staying afloat above $81.
The key drivers for the market are expectations of the US sanctions on Iran as well as OPEC’s...
Gold price continues its one-month consolidation with few signs of a more robust breakthrough in either direction in the daily charts. However, the upcoming FOMC decision could bring a more aggressive price action in the precious metal market, depending on the dollar direction. There is some pick up in dollar demand in the short-term charts, which keeps the...
The greenback is under pressure against the European counterparts on Tuesday, with EURUSD is back on the way to 1.18, though the impetus looks rather limited for the time being. Traders have already digested slightly more “hawkish” Draghi’s statement, and now the markets are preparing for the FOMC meeting that concludes tomorrow.
The probability that the US...
The EURUSD pair is back on the offensive after a brief dip late last week. The price is trading around 1.1770 on Monday, but the recovery impetus looks limited due to some risk events due later this week. Besides, the euro’s upside potential is capped by a slight risk-off tone in the global markets.
On Wednesday, the FOMC will announce its two-day meeting...
The greenback is mixed on Friday and remains unsettled in general despite a rise in the US Treasury yields. The EURUSD pair has briefly probed the 1.18 figure a break of which could open the way to 1.20. The price remains close to June highs but refrains from another bullish wave after yesterday’s aggressive rally.
Apart from dollar weakness, the single...
Crude oil prices continue to grind higher on Thursday, with Brent has settled around the $79 figure after a brief jump to $79.30 earlier in the day. The price remains in the positive territory and looks set for further rise with the key target at $80.
Talks of $80 Brent help the prices to stay elevated as following the comments by Saudi Arabia, similar...
The pound briefly jumped to fresh two-month high of 1.3175 in a knee-jerk reaction to strong UK inflation data. The headline consumer price index rose to its highest levels in six months and was a surprise for markets. However, GBPUSD failed to sustain gains and partially retreated, in part due to the fact that there was much summer-related boost to the CPI for...
Crude oil price action looks unstable these days, with Brent tends to grind lower since reaching a peak above $80 last week. The barrel has rebounded after a brief dip towards $77 support earlier on Tuesday and jumped aggressively to $78.80 recently on the reports that Saudi Arabia said to prefer Brent above $80. However, the asset remains vulnerable to losses...
The greenback started the week on the defensive as part of a marginal profit taking after a rally on Friday fuelled by strong US economic data. Despite the upside impetus has abated, the buck stays afloat as investors anticipate another escalation of the US-China trade war which could trigger another sell0off in the riskier assets.
US is reported to impose...
The greenback dropped dramatically following the dismal inflation numbers on Thursday. The EURUSD, which also gained on a more “hawkish” Draghi rhetoric, jumped to two-week high of 1.17. However the pair didn’t dare to challenge the psychological level as the knee-jerk market reaction ebbed, but still looks set for another leg higher as the dollar remains on...
Gold prices show indecisive price action on Thursday as the greenback has been consolidating either. Yesterday, the precious metal gained decently following a strong rejection from lows around $1,192. The prices now stay above the 20-DMA and the $1,200 handle which is however not enough to confirm a shift to a recovery mode.
Everything depends on the dollar...
The euro reversed its gains from the start of the week and turned lower on Wednesday, despite there is no evident risk aversion in the markets and the dollar demand is rather subdued. EURUSD has got back below the 1.16 threshold and the 20-DMA, down to 1.1570.
The local bearish catalyst for the single currency is another dismal economic report from the euro...
Gold prices have been consolidating in a narrowing range lately, with the recent rise in expectations of higher interest rates in the US caps the dismal recovery attempts. Despite the greenback is on the defensive against major counterparts since the start of this week, the yellow metal fails to attract a more robust buying interest and remains close to the...
Pound has staged a short-term spike following the better-than-expected Q2 DGP report, but failed to sustain gains as the manufacturing and industrial production disappointed. After a brief jump to 1.2954, the cable retreated back to opening levels, however keeps above the 1.29 threshold.
Apart from the impressive GDP data, the general weaker tone around the...
The greenback declined dramatically against the yen overnight and remains unattractive for buyers on Friday. There is no obvious risk aversion so fat in the global financial markets, but investors are obviously cautious as the new Trump’s tariffs on China are looming as well as another trade war, this time with Japan.
So the risk-off sentiment could reemerge...
The pound staged an impressive recovery yesterday, though trimmed intraday gains consequently. GBPUSD continues to move north on Thursday, but remains below the key 1.30 handle so far. The sterling has regained the upside impetus due to a weaker dollar demand coupled with Brexit news.
Positive Brexit headlines from Germany have inspired the bulls and...
The dollar bulls are starting to lose the grip on Wednesday as the risk sentiment shows some signs of improvement. However, the buck remains on the offensive generally as the currency refrains from a deeper retreat ahead of new tariff exchange between the US and China due tomorrow.
The trade war escalation could send the riskier assets lower once again, while...
