Month: November 2020

Markets are generally rather quiet in Asian session today, with Thanksgiving holiday in the US in sight. Risk markets are taking a breather after the earlier rally, so do the selloffs in Dollar, Yen and Swiss Franc. Nevertheless the trio remain the weakest ones for the week. On the other hand, New Zealand and Australian
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AUD/USD consolidates gains below 0.7400 in a thin market session. US FOMC minutes hurt demand for USD. Westpac’s analysts see the Aussie breaking past 0.7400 next week. The Australian dollar has been practically flat at 0.7365 area on a quiet session with the US celebrating Thanksgiving day. The pair consolidates gains near three-month highs with
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Daily thread to exchange ideas and to share your thoughts The dollar is going to be the key focus amid thinner liquidity conditions, as we see EUR/USD manage a close above 1.1900 for the first time since 1 September, with buyers slowly nudging price higher to start the session. There is some daily resistance closer towards 1.1966
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NEW DELHI: Gold and silver futures gained in the morning trade on Thursday as increasing jobless claims in the US showed the world is far from being out of the crisis. The number of Americans filing first-time claims for jobless benefits increased to a seasonally adjusted 778,000 last week amid surging coronavirus cases and business
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The minutes for the FOMC meeting in November shows that policymakers were cautiously optimistic about the economic recovery and the impacts of the monetary policy tools on the economic outlook. As negative interest rate has been ruled out, the Fed’s future policy tool is dependent on asset purchases (QE). We are not surprised to see
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UOB Group’s FX Strategists noted EUR/USD could gradually approach to 1.1980 in the next weeks. Key Quotes 24-hour view: “We expected EUR to strengthen yesterday and were of the view that ‘a break of 1.1920 could potentially trigger further buying towards the next resistance at 1.1955’. While EUR cracked 1.1920, there was not much follow-through
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CDC data today US coronavirus deaths rose by 1989 yesterday; that’s only about 10% below the April peak. There were 165,282 new cases and that’s a bit of good news because a week earlier cases were at 177,000. All else equal, US cases are likely plateauing but given that today is the biggest travel day
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