GBP/USD prints a session low of 1.3871, while US yields stay flat. Dollar draws bids as the US stock futures drop. The US dollar is drawing haven bids and pushing GBP/USD lower, with the US stock futures signaling renewed risk aversion. Cable fell to a session low of 1.3871 soon before press time, having traded
FX
The European Central Bank (ECB) is ready to just all of its instruments and policy options include a deposit rate cut if needed, ECB Governing Council member François Villeroy de Galhau said on Monday, as reported by Reuters. Additional takeaways “Recent eurozone inflation rise shouldn’t be overstated, includes temporary factors.” “There is no risk of overheating in
Gold Price Analysis: XAU/USD corrrects to the 50% mean reversion target Gold prices have corrected a significant portion of the latest bearish impulse. Failures at this resistance could lead to a fresh downside impulse. As per the prior analysis for the open on Monday, The Chart of the Week: Gold correcting towards critical resistance from
What you need to know on Monday, March 1: The greenback appreciated sharply at the end of the week, finishing it with gains against all of its major rivals. Global indexes closed with sharp losses, except for the Nasdaq that managed to post an intraday advance. US Treasury yields continued to retreat ahead of the
GBP/USD is stabilising around the 1.3950 mark as the week draws to a close. On the week, having been up over 1.6% at highs, GBP/USD looks set to finish the week down 0.3%. GBP/USD is stabilising around the 1.3950 mark as the week draws to a close, sharply below multi-year highs set back on Wednesday
US bond yields fell sharply on the final trading day of the week. 10-year yields, having hit the mid-1.50s% on Thursday, dropped back to 1.40% on Friday. After surging all week, US bond yields are seeing a sharp retracement on Friday, as bond-buying ramped up into the close of US trade. The selling is most
Tech stocks saw a modest recovery on Friday as long-term bond yields dropped sharply. The rest of the stock market remained under pressure, however. Focus next week will be on key US data releases, fiscal stimulus headlines and more remarks from Powell. US tech stocks saw a modest recovery on Friday, with the Nasdaq 100
USD/CAD gained traction for the second straight day and recovered further from multi-year lows. The momentum stalled near a descending trend-line/50% Fibo. confluence barrier near 1.2685. Mixed technical indicators on hourly/daily charts warrant caution for aggressive bullish traders. The USD/CAD pair gained traction for the second consecutive session on Friday and built on the previous
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work
The heavily offered tone surrounding the USD continued exerting pressure on USD/CAD. Surging US bond yields, mostly upbeat US macro data did little to impress the USD bulls. A modest pullback in crude oil prices undermined the loonie and extended some support. The USD/CAD pair remained depressed through the early North American session, albeit managed
GBP/USD keeps the longest weekly rally in three years above 1.4100 GBP/USD steps back from an intraday high of 1.4150 to 1.4138 during Thursday’s Asian session. Even so, the cable prints mild gains on a day while rising for the sixth consecutive week, the biggest run-up since 2018, by press time. While tracing the moves,
Economists at Credit Suisse now expect 10yr US Bond Yields to rise to 1.82% by the end of 2021, which is the 50% retracement of the entire fall from 2018. Key quotes “US 10yr Bond Yields have broken clearly above our prior Q1 objective at the 1.25/27% March high and trend support from 2012 with
“The central bank remains committed to providing more stimulus if needed,” said the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr while speaking at the post-monetary policy decision press conference on Wednesday. Additional quotes We want to retain all optionality for stimulus. Always talked about negative rates as an option to be available to us. more to come …
EUR/SEK picks up upside traction and tests 10.1000. Riksbank looks open to further accommodative measures. Sweden’s jobless rate ticked higher to 9.3% in January. Further selling pressure around the Swedish krona lifts EUR/SEK to the vicinity of 10.10 on turnaround Tuesday. EUR/SEK in 2-week highs EUR/SEK adds to Monday’s gains and advanced to the 10.10
Gold picks up the bids, up for third straight day. US dollar weakness favord bulls amid risk-on mood. Powell can reiterate cautious optimism but a mention of reflation woes may be worrisome. Gold refreshes intraday high to $1,814.93, up 0.22% on a day, during Tuesday’s Asian session. In doing so, the quote rises for the
The EUR/USD pair is up this Monday, now trading a few pips above Friday’s high at 1.2144, nearing the critical 121.70/80 resistance zone, Valeria Bednarik, Chief Analyst at FXStreet, reports. Key quotes “Germany published the February IFO Business Climate, which improved to 92.4 from a revised 90.3, as expectations and the assessment of the current
NZD/USD crosses above January’s high to reach the highest level since April 2018. S&P lifts New Zealand’s credit rating, drawing more bids for the Kiwi. The Kiwi has been bid in recent days with commodities rallying on expectations for economic recovery. NZD/USD extends early gains, with major ratings agency Standard & Poor’s (S&P) raising New
Morgan Stanley’s Chief Cross-Asset Strategist Andrew Sheets predicts gold to fall further from the current levels even though inflation is set to rise in 2021. Key quotes (via Kitco News) “Morgan Stanley’s economists forecast US inflation to rise a little over 2% over the next two years. So, this is hardly the runaway type of scenario for inflation