The dollar was hit dramatically overnight, after comments from NY Federal Reserve President John Williams who hinted that lower rates and more aggressive cuts could come soon. Despite the later NY Fed attempts to temper the remarks, the greenback remained under pressure and trimmed loses only partially.
Against this backdrop, gold prices jumped to six-year highs...
EURUSD extends the recovery after a steep decline earlier this week, with the price is nearing the intermediate resistance in the 1.1250 area on Thursday. The upside momentum was fueled by dollar weakness as the US currency shifted to a corrective mode after the recent rally due to strong economic data.
Overnight, US dollar index nursed losses versus main...
Brent crude plunged over 3% on Tuesday, with prices slipped back from $67 to the local lows below $64. Today, the futures are making shallow recovery attempts but the impetus is subdued and downside risks persist.
The driver behind the sell-off was Trump who raised hopes of easing tensions with Iran and pointed to a potential progress with US - Iranian...
Gold prices failed to extend the upside move yesterday and continue to struggle on Tuesday, with the bullion holds below the $1,420 area for a third day in a row. USD demand has picked up slightly after a negative start of the week, which caps the upside potential in prices.
Markets are still focused on the upcoming rate cut by the Federal Reserve and...
Brent crude remains stuck between the 100- and 200-DMAs on Monday, with futures struggle to get back above the $67 handle after marginal gains late last week. The market remains in limbo against the backdrop of some contradictory factors.
Some pressure comes amid reports that tropical storm Barry weakened to a “depression”, which means that there won’t be...
Oil prices continue to attract sellers on bullish attempts. After a brief jump above $65, Brent finished below $64 on Monday. Today, the futures are trying to get back above this level but the impetus remains subdued, in part due to a stronger dollar. The US currency extends the ascent since the release of strong jobs data as traders now expect the Fed will...
EURUSD has settled in a limited trading range after an aggressive sell-off on Friday, with strong US NFP employment data sent the greenback higher across the board. As a result, the euro broke down of its consolidative trading range and registered over two-week lows marginally above 1.12.
Despite spectacular employment data, Fed Fund futures continue to...
Gold prices have partially retreated from long-term highs but remain steady in general, as a number of factors are driving flows into the precious metal. The bullion is trading marginally lower for a third day in a row, staying above $1,400 after a major one-day rally earlier this week.
The yellow metal registered six-year highs ten days ago, with the...
USDJPY has been trading mostly on the defensive this week, with the dollar struggles to regain the upside momentum as risk sentiment remains unstable amid the contradictory signals. The pair registered one-week lows around 107.50 yesterday and remains below 108.00 in a muted trading on Thursday.
The Japanese yen derives support from lingering worries about...
Gold prices resumed the rally after a short period of a bearish correction. The bullion showed resilience despite heightened volatility, as the retreat was limited by the $1,380 area, where the metal has attracted demand and got back to six-year highs.
The recent events surrounding the G20 summit and resuming the dialog between the US and China fueled risk...
Crude oil prices failed to stage a sustainable rally on Monday as Brent attracted an aggressive profit-taking above $66.50 and now tries to cling to the $65 level as traders continue to express concerns over the slowing global growth after disappointing manufacturing PMIs in major countries.
Market participants were not inspired by OPEC decision to extend the...
EURUSD pair resumed the downside move after finishing the week unchanged on Friday. The pair slipped through the 200-DMA and registered ten-day lows marginally above the 1.13 handle which represents the immediate support now.
The euro is under pressure due to a widespread dollar demand after Trump and Xi agreed to resume trade talks. Cease-fire in the...
After some intraday fluctuations, EURUSD was little changed in the end of the day on Thursday. Bullish attempts continue to attract sellers, which prevents the euro from breaking the 1.14 barrier. On the other hand, the pair remains above the 200-DMA, which is a positive technical signal, at least in the short term.
Market attention now shifts to the G20...
USDJPY is gaining bullish traction for the second consecutive session on Thursday, extending the recovery from multi-month lows registered below 107.00 last week. The yen’s safe-haven appeal turned sour amid optimism over the widely expected trade talks between the US and China this weekend.
The greenback regained positive momentum ahead of the final US Q1...
Brent crude refreshed June highs around $65.43 on Wednesday and tries to settle above the $65 handle as the G20 summit looms. Risk sentiment has deteriorated somehow after comments from Fed’s Powell and Bullard were not as dovish as expected. But this is overshadowed by lingering tensions between the US and Iran, fueling concerns over possible supply...
The EURUSD pair extends the ascent on Tuesday, hovering around fresh three-month highs above the 1.14 handle. The euro is rising for a fifth day in a row, with the main bullish driver is a broad-based weakness in the greenback.
Despite the pair starts to show some overbought conditions, the common currency could refresh local highs in the short term as Powell...
Gold prices extend the rally on Monday, with the bullion is trying to get back above the $1,400 psychological level, clinging to six-year highs registered at the end of last week. This is the fifth day of gains in a row as demand for the precious metal remains robust due to rising tensions between the US and Iran, a dovish shift by major central banks, and a...
Brent has refreshed June highs early around $64.30 early on Friday but failed to extend gains and got back below the $64 handle, clinging to the opening levels. In the weekly charts, the futures remain in the positive territory, largely due to yesterday’s rally amid euphoria in the financial markets.
Today, the risk sentiment shows signs of abating after the...
