The upcoming US-China trade talks are in market focus now, with the two countries continue to flex muscles. In the latest move, Washington imposed visa restrictions on Chinese officials accused of involvement in repression of Muslim populations. In turn, Beijing said the US was using the excuse of human rights to interfere in the China’s internal affairs. As...
USDJPY is gaining bullish momentum since the start of the week. The pair climbed back above the 107.00 handle and clings to the levels just below the 107.50 intermediate resistance. Once above, the dollar will encounter the 100-DMA which now comes at 107.63. The upside impetus however looks unsustainable as risk aversion could reemerge at any point. On...
Late last week, investor sentiment has improved somehow due to generally positive US jobs data which curbed concerns over a potential recession in the world’s largest economy after dismal manufacturing and services PMIs. This week is going to be busy as well, with a new round of US-China trade talks will be in focus. The reports that Chinese officials have...
After a series of dismal economic data from the US this week, the dollar continues to lose ground against major counterparts. EURUSD saw a short-term rally on Thursday, with the 1.10 handle served as a local resistance. Today, the common currency preserves a bullish bias amid a broadly weaker greenback. Now, market focus shifts to the upcoming US NFP jobs...
Crude oil prices declined aggressively on Wednesday, with Brent has registered fresh nearly one-month lows around $57.20. Today, the prices are making some recovery attempts but struggle to get back above the $58 handle and remain under pressure in general. The market took a hit from a series of dismal economic data from the US, which spurred concerns over...
After EURUSD made fresh two-year lows at 1.0878 amid a stronger dollar and dismal Eurozone data. The manufacturing PMI came in at 45.7 beating forecasts of 45.6 in September, registering the lowest level since October 2012. Later in the day, the pair reversed and closed around 1.0930 as the greenback turned lower across the board. The US manufacturing PMI ISM...
Oil prices are making shallow recovery attempts on Tuesday after yesterday’s plunge by over 2%. Brent crude so far struggles to get back above the key $60 level but could gradually regain the upside momentum and stage a more pronounced ascent from recent lows in the short term. Traders continue to digest the news that Saudi Aramco has restored full oil...
Risk sentiment looks subdued on Monday, with investors prefer a cautious approach due to the lingering uncertainty around the upcoming US-China trade talks and ahead of fresh economic data, including the key US NFP employment report. Against this backdrop, USDJPY turned lower after three days of gains. The pair struggled to make a clear break above the 108.00...
After some consolidation, EURUSD broke to the downside on Thursday and extended losses to fresh two-year lows just above the 1.09 handle. Despite some intraday bounce, the euro remains under the selling pressure and could suffer further losses amid a resilient dollar across the board. Apart from a resilient greenback, the downside pressure came from another...
Crude oil prices declined on Wednesday amid the reports that Saudi Arabia goes ahead of schedule to make the repairs to its oil facility. Besides, Trump left the door open for a path to de-escalation with Iran, which added to the negative sentiment in the market. As such, Brent briefly dipped to the $60.30 area but manages to finish around $61.50. Meanwhile,...
EURUSD turned lower on Wednesday after a short-term rise yesterday. The pair still struggles to hold above the 1.10 handle as the 1.1225 intermediate resistance caps the bullish attempts after a rejection from 1.1075 last week. On Tuesday, the common currency derived some support from slightly better-than-expected German IFO data coupled with a modest...
Gold prices have been in a recovery mode these days as market sentiment remains unstable amid some conflicting signals from geopolitics and economy. The bullion struggled to overcome the $1,525 area yesterday but managed to stay above the $1,500 handle and shows a limited bearish bias early on Tuesday. Dismal economic data from Germany pointed to a rising...
Despite the bullish momentum has partially waned after the earlier rally, oil prices remain at relatively high levels and will likely stay afloat in the near term as geopolitical tensions are still elevated, with the prospects for a recovery in the Saudi oil production are looking unclear. Brent slipped below the $64 figure while the bearish momentum is capped...
EURUSD gains for a second day in a row on Friday but stays in the negative territory in the weekly charts. One week ago, the pair was rejected from the levels above 1.11 which remains the key to the upside, with the intermediate resistance comes around 1.1075. Despite the current recovery attempts, the short-term and broader outlook for the euro remains...
After yesterday’s slide, Brent crude is making shallow recovery attempts on Thursday. The prices registered local lows marginally above the $63 handle on Wednesday and has settled in a range limited by the 100- and 200-DMAs and will likely stay within this narrow channel awaiting fresh signals from the geopolitical front. Traders shifted to profit taking...
Citing fairly decent economic data from the US of late, traders trimmed their easing expectations to nearly 60% from over 90% last week. The latest example of robust figures was manufacturing output which posted a stronger-than-expected 0.5% gain in August. Nevertheless, the Federal Reserve rate cut during today’s meeting looks like a done deal amid the...