FX

Growth stocks outperformed value stocks on the final trading day of the week. The Nasdaq 100 gained and Dow dropped while the S&P 500 was caught in the middle and flat. The Fed hurt financials by announcing there will be no extension to SLR relief at the end of the month. It was a mixed

EUR/USD is consolidating close to the 1.1900 level as the week draws to a close. Eurozone news with regards to the pandemic has continually gotten worse throughout the week. EUR/USD has managed to reclaim the 1.1900 level following a brief dip into the 1.1870s early on during US trading hours and looks to be stabilising

USD/CNH is likely to navigate between 6.4730 and 6.5360 in the next weeks, commented FX Strategists at UOB Group. Key Quotes 24-hour view: “Yesterday, we held the view that USD ‘could dip below 6.4850’. However, USD rebounded to an overnight high of 6.5151 after touching 6.4850. Despite the rebound, upward momentum has not improved by

EUR/USD has been on the back foot near the entirety of Thursday’s session and has dropped back into the low 1.1900s. Rising US government bond yields have been the main factor driving the downside. But news of Covid-19 restrictions being tightened in France is weighing on the euro. EUR/USD, which has been under selling pressure

The Bank of England hosts a policy meeting today, with a likelihood of policy parameters being left unchanged. Cable’s recent decline to 1.3779 off UK-EU tensions is priced in (and unlikely to extend with arbitration in focus), leaving GBP/USD’s uptrend support at 1.3749 untested, which means there is room for the pair to push higher,

Silver moves higher into bullish territory following dovish Fed. US dollar crumbles as the market comes back more into the line of a dovish Fed.  Silver prices are moving into the closing bell on Wall Street higher by almost 2% following a dovish outcome from the Federal Reserve which has weighed on both the rates

Agricultural prices are currently trading near multi-year highs, but strategists at Capital Economics doubt that a supercycle is underway or will occur anytime soon. Instead, agricultural prices will fall over both the short and longer term as demand growth wanes and supply holds up well. Key quotes “Agricultural prices have rallied since the middle of

GBP/CAD bulls looking for hourly support to hold and resistance to break.  Bulls can target a 38.2% Fibo of the weekly bearish run and 4-hour resistance first.  GBP/CAD is stalling on the downside. There are prospects for a significant correction within the current monthly bearish candle and three consecutive weeks of bearish closes.  The following is a

Coronavirus infections are spreading exponentially once again in the country, up 20% in the last week, Germany’s Robert Koch Institute (RKI) epidemiologist Dirk Brockmann told ARD television on Tuesday. Key comments “We are exactly on the flank of the third wave. That can no longer be disputed. And at this point we have eased the

XAG/USD bulls chipping away at daily resistance within a firming backdrop for commodities. Monthly, weekly time frames conflicting as markets adopt the greenback and await the FOMC. Silver has been chipping away at the upside as the bulls look to prior daily resistance and the US dollar makes small progress in prospects of breaching the

In opinion of FX Strategists at UOB Group, Cable is still seen navigating within the 1.3810-1.4020 in the near-term. Key Quotes 24-hour view: “Last Friday, we held the view that GBP ‘could strengthen but overbought conditions suggest any advance is unlikely able to maintain a foothold above 1.4020’. However, GBP fell sharply from 1.4005 to

What you need to know on Monday, March 15:  The American dollar eased heading into the weekly close against most major rivals, although retained its dominant strength. US Treasury yields provided support to the greenback, reaching fresh one-year highs.  The bond market volatility is expected to continue leading the way this week. Wall Street closed

The S&P 500 and Dow both hit record closing highs for a second session, having recovered from a pre-market sell-off. The Nasdaq 100 was unable to recover into the green as rising long-term interest rates weighed. Strong US data, reopening/pandemic optimism and fiscal stimulus optimism all helped support risk appetite. In the end it was

Gold bounces off the ascending channel’s lower boundary support as a bullish impulse emerges. The MACD reinforces XAU/USD’s uptrend on the daily chart. The bearish leg may continue toward $1,650 if the channel’s middle boundary support fails to hold. Gold has continued to drop from January highs around $1,950 amid a stronger US dollar. The

US equities struggled to follow Thursday’s records with mixed indices. Nasdaq down nearly 1%, Dow sets another record up 0.9% and S&P up 0.1%. Inflation ticks back into consciousness, PPI rises and 10 Year pops to 1.63%. Major US indices struggled to eke out gains on Friday to end the week on a positive note. The week

Gold has bounced firmly from the $1700 level and are back to flat as the USD pulls back from highs. The precious metal has mostly traded as a function of USD and higher yields has not hurt it too much. Spot gold prices have bounced pretty firmly from the $1700 level and are now trading

FX Strategists at UOB Group noted EUR/USD faces extra gains although a test of 1.2060 looks unlikely in the next weeks. Key Quotes 24-hour view: “We expected EUR to strengthen yesterday but we were of the view that ‘the strong resistance at 1.1980 is unlikely to come into the picture’. EUR held below 1.1980 until

EUR/USD is probing the upper 1.1900s as the US dollar comes under pressure. A dovish ECB meeting failed to deal any lasting damage to the euro. EUR/USD is currently probing fresh highs for the session in the 1.1980s, which incidentally are also weekly highs, with the pair having not struggled too much to break above