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Also firmer against the Greenback, as Sterling consolidates around 1.2850 and above 0.9100 vs the Euro amidst more positive sounding Brexit vibes. According to latest media reports, the EU has relented on its criteria for crafting a joint trade deal text that required a broad agreement on all outstanding issues, while head of the European Commission von der Leyen...

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USD The Dollar has drifted down from Friday’s highs following a Wall Street recovery rally that has filtered through to APAC and EU equities to varying degrees. However, the DXY remains anchored around the 94.500 level and for once may derive some underlying support into month/quarter end given at least one bank model signalling a buy vs the Eur based on a...

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Gold back up into $1950...

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It makes some sense that the Kiwi and Aussie are front-running major currency recovery gains vs the Greenback having been amongst the biggest losers when their US counterpart was in the ascendency and DXY reached its 94.601 peak. Nzd/Usd has bounced firmly from yesterday’s low not far from 0.6500 towards the round number above and Aud/Usd is back in the high...

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The Pound continues to resist Buck advances and maintain recovery momentum against the Euro on a combination of Brexit positivity and hope that latest fiscal support will cushion the UK economy against further COVID-19 collateral damage. Cable is holding ‘comfortably’ above 1.2700, albeit unable to sustain a 1.2800+ push, while Eur/Gbp has breached 0.9150 amidst...

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Sterling continues to marginally buck the broad trend in major circles, and latest fiscal initiatives rolled out by UK Chancellor Sunak may have been a factor, albeit all pretty much in line with overnight reports in the media (6-month, 2/3 wage support scheme, though bounce back loans will be extended to 10 from 6 years, with the deadline for applications rolled...

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The Buck is off best levels, but remains firmly bid after the index extended its rally beyond 94.500 and closer to the next significant upside target, at 94.634 (March 9th high) vs 94.601, so far. Weaker than forecast initial jobless claims for NFP survey week did not derail the Greenback for long, if at all, given the wider implications for risk sentiment and...

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Somehow, the Pound finds itself propped at the top of the G10 table after another roller-coaster ride comprising several humps and bumps over the course of Wednesday’s EU session. Cable was knocked off its 1.2700+ perch and Eur/Gbp revisited Monday’s 0.9220 or so high following UK Foreign Minister Raab’s contention that PM Johnson’s tighter COVID-19 containment...

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UK FCA told banks to ramp up preparations for all Brexit scenarios, while it is said to have some painful lessons from pending reviews and noted strong regulatory standards go hand-in-hand with the UK's position as a global financial centre. ECB President Lagarde said the strength of the recovery remains very uncertain and the uncertainty of the current...

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Fed Chair Powell reiterates in testimony to Congress that the Fed will do what it can and for as long as it takes to support the recovery, while he added that many economic indicators show a marked improvement but despite improvement from depth of crisis, the path ahead for economy remains highly uncertain. (Newswires) Fed's Kaplan (voter, dissented hawkishly...

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Although the Dollar has regained some poise amidst more pronounced risk aversion at the start of a new week, Usd/Jpy continues to decline alongside Yen crosses in the absence of Japanese market participants for ‘Old Age Day’. The headline pair has now breached another key chart if not major technical level in the form of July 31’s 104.20 low and there is little in...

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Hardly a surprise to see the Dollar mostly rangebound and the index recoil to its confines around the 93.000 axis that has been pivotal for a while, as many if not most currency market participants keep positions light in the run up to the FOMC. However, US retail sales data looms before the big event and often possesses the potential to surprise given a wide...

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Sterling remains vulnerable heading into Friday’s round of Brexit trade talks, and with UK PM Johnson facing a Conservative Party revolt against the Internal Market Bill on top of the EU backlash following no reassurances about commitment to comply with the WA from yesterday’s extraordinary joint committee meeting. However, Cable briefly clambered back over 1.2800...

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UK Government legal opinion is that the Internal Market Bill is not unconstitutional and parliament would not be such if it enacted it, while UK Minister Gove later commented that the UK will not discard the Internal Markets bill. (Newswires) A Tory grandee rebellion is reportedly underway to give Parliament a veto on the Government’s plan to override the...

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The Loonie retains some post-BoC momentum in advance of Governor Macklem’s speech, with Usd/Cad straddling 1.3150 and the Antipodean Dollars are essentially idling vs their US counterpart as Nzd/Usd and Aud/Usd rotate around 0.6680 and 0.7275. Gbp/Aud is hanging onto support with strong anticipations of a break into the next fibonacci D extension zone sat at 1.7500.

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Not much movement in G10 currencies compared to the frantic price action that panned out on Wednesday, but the ECB policy meeting and press conference from President Lagarde hold potential to spark another bout of volatility along with the extraordinary joint committee convene between the EU and UK arranged after yesterday’s controversial IMB. In the interim,...

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Another day, but no real let up in the pressure on the Pound as a confirmed break of 1.3000 in Cable culminated in a breach of the 200 WMA (circa 1.2931) and a test of interim support ahead of 1.2900 in the form of a late July low (1.2912 from the 29th of that month). Meanwhile, Eur/Gbp extended its advance through 0.9100, but held below the next upside chart...