The Aussie dollar makes some recovery attempts on Thursday after yesterday’s rejection from the 0.71 figure. The local corrective rebound is due to some pickup in risk sentiment capping the USD demand. However, despite the selling pressure has eased, the wider picture shows that AUDUSD still vulnerable to further declines. The AUD rallies still look...
Crude oil prices plunged 5% yesterday after Saudi Arabia highlighted that OPEC+ countries were ready to pump more oil in order to meet any supply shortfalls due to sanctions on Iran. Despite traders have already heard sim-ilar hints from some exporters, the reaction was rather painful for the market. The relatively strong dollar and widespread risk-off tone have...
The market optimism over the Chinese officials’ comments on stimulus has evaporated on Tuesday and gave way to renewed political fears. As a result, the risk-off sentiment is driving stock markets lower, while the Japanese yen safe-haven demand has surged significantly. The US-Saudi tensions, Italian budget issues, Brexit woes and trade-war fears propel the...
Gold has registered the third consecutive weekly gain and continues to hover close to the July highs, although buyers’ enthusiasm seems to be abating gradually. However, the precious metal could still retain the bullish tone down the road as global risk sentiment remains somehow unsteady. A good sign for gold bulls is the fact that the metal stays afloat...
Canadian Dollar is the star of the day, as it managed to rise to 1.3027 area in the morning, and then to lose all the gains in an hour touching 1.5-month low at 1.3119. Canadian Retail Sales and CPI Data are to blame. Retail sales ex autos decreased by 0.4% in August compared to a 0.1% rise forecasted. CPI also fell down by 0.4% m/m compared to a 0.1% rise...
AUDUSD had a hard time trying to break above 0.7140, but it was rejected on Thursday again losing almost 50 pips during the day. While US-China wars are still on the agenda putting the Australian currency under pressure, there is a light in the end of the tunnel. The Australian employment data posted early in the morning continued to show underlying strength....
There is something interesting going on in Canada. And it may become a serious argument in favor of future CAD appreciation. This Monday Business Outlook Survey was out confirming the robust business prospects even before the NAFTA deal was finalised. It means that we would see even more optimistic outlook within the report next month. What does it mean? It...
While EURUSD stays under pressure, GBPUSD managed to show an amazing appreciation – it adds around 100 pips a day two days in a row. Positive UK data only supported the move, as average wages increased to 2.7% from 2.6% forecasted reaching the highest level in 9 years. However, there was a fly in the ointment - claimant count number climbed to 18.5K from...
Every day is full of new food for thoughts. We saw another day of US Dollar sale due to risk aversion flows and profit-taking after long-term bullish trend. We strongly believe that most part of the move was related to investors who decided to get out of the market and sit on the fence, or in some safe heaven like yen. Another reason of USD sell-off is...
While stock market selloff triggered a wave of speculations about the possible stock bubble burst, investors were in no rush to buy safe havens and to dump risky assets. NZDUSD and AUDUSD actually became the outperformers among the major currency pairs. Does it mean the market stopped loving USD, or it’s just a temporary correction of the most oversold...
GBPUSD is the pair of the week, as it appreciated 4th day out of the last five. The market is full of rumors and hopes. On Wednesday, the British newspapers reported that there were chances to see some draft agreement by next Monday. It means that the officials can be just in time for EU summit scheduled for the next week. There are speculations that a...
GBP keeps outperforming EUR as the market feels the taste of Brexit deal in the air. There are still some issues related to Irish border, confirmed by UK spokesman James Black. His confirmation that the actual deal has yet to be done sent GBPUSD lower during the day to 1.3060 area. However, many investors are unwilling to send the pound lower, as there is the...
USD/JPY is on radar as it managed to lose 150 points during the last 3 days, with 100 pips losing on Monday. There were speculations that the key trigger of the pair move was risk-off sentiment in the financial markets, with Italian budget woes pressuring the stock markets. However, it hardly correlates with AUD and NZD moves that managed to add around 40...
The greenback has pulled back on Thursday after the initial rally across the board. The EURUSD pair regained the 1.15 figure, while the cable jumped above 1.30 due to dollar correction coupled with signs of stabilization in Italy and some positive Brexit developments. However the last trading day of the week may bring some adjustments in dollar pairs after...
USDJPY retreats from fresh 2018 highs registered at 114.54 earlier in the day. Yesterday, the pair jumped aggressively and pierced the 114.00 handle for the first time early-November 2017. The rising US Treasury yield is behind the widespread dollar strength, while the current pair’s retreat from tops is due to the prevailing risk-off sentiment in the global...
The greenback remains supported after some correction attempts earlier in the day on Wednesday. The Fed officials’ rhetoric confirms the central bank’s commitment to further gradual tightening which helps the USD index stay close to six-week highs registered yesterday. The EURUSD pair is still under pressure despite the reports that Italy may offer...
The crude oil markets are further supported by the looming US sanctions on Iran that are set to start on November 4. From its lows registered in August, Brent has risen by 20%, mostly on concerns that some additional shortfalls could tighten the already balanced market further. Apart from Iran, traders fear that Venezuelan production will continue to decline,...
The pound has stopped its aggressive decline on Monday, with the pair is trying to recover its ground and find a bottom in the 1.30 area. The latest relief came from surprisingly strong UK PMI data. The manufacturing index rose 53.8, above the expected 52.5, after three months of slowing. The prior result was revised higher to 53 from 52.8. Moreover, the output...