The yellow metal continues its recovery on Tuesday amid a widespread risk aversion, declining yields and weaker dollar. Gold prices are regaining ground for a sixth day in a row but still fail to make a decisive break above the $1,225 immediate resistance. Investors refrain from risk taking against the backdrop of ongoing Brexit concerns, Italy’s budget...
At the start of a new week, the greenback is trading under a mild selling pressure after a steep decline on Friday. The American currency feels uncomfortable after the Fed officials expressed concerns about global growth. Investors took the recent comments as a signal that the central bank could slow down the process of monetary policy normalization, which...
Crude oil prices continue to recover gradually, with Brent has settled above the $67 figure on Friday. Today is the third day of gains in a row, but the bullish impetus still looks too fragile and cautious. The price seems to have found support below $65 earlier this week, however the downside risks are still there and it looks like it’s too early to call a...
The greenback remains on the defensive for a third day in a row on Thursday. The key reason behind its local weakness is a meaningful progress on Brexit as Theresa May got cabinet approval for her draft agreement which fuelled sterling and euro rally. By the way, the buck is also lower against the Japanese yen even as inves-tor sentiment in the global financial...
It looks like the dollar demand is back after yesterday’s correction, with EURUSD is under a bearish pressure again, while the pound seems to be losing its Brexit-related enthusiasm. Despite the fresh headlines from Lon-don could yet fuel another sterling rally, a wider picture shows that the greenback remains strong, mainly due to monetary policy divergence. ...
Crude oil prices lick wounds after another aggressive sell-off. Brent slipped below the $69 figure for the first time since April and struggles to get back above $70 on Tuesday as concerns over a weaker global demand still prevail in the market. The recent decline in prices was fuelled by dollar rally. The American currency is on the rise due to monetary...
The euro continues to grind lower on Monday with the EURUSD pair has lost the 1.30 handle for the first time since mid-2017 against the backdrop of a stronger USD index that hit a 17-month high earlier in the day. The buck is widely supported by investor expectations on further tightening by the Federal Reserve. By the way, the December rate hike has been...
Crude oil market has mostly ignored the speculations on a possible OPEC output cut in 2019. Brent has expended its bearish path to seven-month lows marginally above the $70 crucial handle on Friday as concerns over global oversupply weight. The dollar continued its advance after the hawkish FOMC statement, which adds to the selling pressure. As the US...
The yellow metal is suffering losses for a fifth day in a row after an impressive rally that took place last Thursday. Today, gold prices have eroded the $1,222 handle and now threaten to challenge the $1,220 support level. The dollar regains strength following a bearish knee-jerk reaction to the midterm election outcome, which increases the downside risks for...
The greenback is edging lower on Wednesday amid profit-taking as midterm election outcome matched market expectations. During the European session the dollar got under the renewed selling pressure as investors continue to digest election results. However, after the dust settles, the buck could regain strength and move to the offensive amid positive...
The USDJPY pair is extending gains on Tuesday with the price has refreshed a one-month high of 113.44 before a partial retracement. The risk-on sentiment is prevailing in the global financial markets, which caps the safe haven yen demand. Investors are rather cautious ahead of midterm elections in the US. The base case scenario implies that Republicans...
The volatile pound rose decently last week, though the gains were still modest as compared to the decline a week earlier. GBPUSD regained the 1.30 handle and keeps above this level on Monday but struggles to proceed with the recent rally amid the conflicting signals. The optimism was capped by another disappointing UK economic data. October’s service PMI fell...
Dollar dropped dramatically yesterday and remains under the selling pressure on Friday. The risk-on environment coupled with pound strength and weaker US economic data fuelled a more aggressive sell-off in the buck across the board. Today, the greenback may get a chance for a recovery. The US NFP employment report could serve as a catalyst for bulls should...
The greenback has eased across the board yesterday and remains under a heavy pressure on Thursday. Against this backdrop, gold prices managed to bounce from three-week lows and trim weekly losses. As such, the precious metal is back above the $1,215 handle and is targeting the $1,230 level again. Earlier this week, the bullion retreated heavily amid some...
USDJPY refreshed three-week high of 113.33 on Wednesday and stays above 113.00 due to a combination of a generally stronger dollar, dovish Bank of Japan, and risk-on sentiment. As expected, the Japanese central bank left its monetary policy unchanged and reiterated that rated will remain ultralow for an extended period. The regulator has also said that risks...
Crude oil prices are making shallow recovery attempts on Tuesday after the yesterday’s decline. Despite the general risk sentiment has improved somehow, commodity traders refrain from buying due to some conflicting signals. Investors seem to believe that the threat of supply shortfall has abated. Some economic signals point at the prospects of slowing global...
EURUSD is trading marginally higher today after finding a bottom at 1.1335 on Friday. The pair is clinging to the 1.14 handle but still lacks the impetus to stage a more robust and stable rebound. Over the weekend, S&P revised the Italy’s outlook to ‘negative’ but kept the country’s credit rating unchanged. Meanwhile, Italy’s officials hinted at the...
The pound remains under a heave selling pressure with the short-term outlook has deteriorated after attempts to break the 1.28 handle yesterday. GBPUSD has settled marginally above this level on Friday but more challenges will likely come in the days ahead. First, Brexit issues continue to discourage the GBP bulls. The fact that Prime Minister Theresa May has...