GBP/USD has eased back from prior session highs at 1.40458 but looks likely to hold onto a 1.4000 handle. Positive pandemic trends, be it the UK’s vaccine rollout, news about vaccine efficacy, or falling infection rates have boosted GBP. GBP/USD has eased back from prior session highs at 1.40458 but looks likely to hold onto
FX
Weekly closing above Nov 30 low offers a ray of hope for XAU/USD. The bearish bias remains intact until gold stays below 21-DMA. The recovery mode could extend into Asia’s weekly opening. Gold (XAU/USD) staged an impressive bounce Friday, having hit the lowest in seven months at $1761 in the Asian trades. Despite the corrective pullback,
The S&P 500 and Nasdaq 100 both posted their fourth straight day of losses on Friday. But the former remains supported above 3900 as the macro backdrop remains positive. Rising US bond yields have been a cause for concern this week, however, and this was evident on Friday. The S&P 500 ended the session with modest
Sustained USD selling assisted gold to stage a modest bounce from multi-month lows. An uptick in the US bond yields, the underlying bullish tone capped gains for the metal. The set-up still favours bearish traders and supports prospects for further weakness. Gold struggled to capitalize on its attempted recovery from the lowest level since July
Gold refreshes three-month low, defies the previous day’s bounce off $1,768. Risks dwindle following downbeat US data, fears of inability to tame the virus strains. Absence of major update on the US covid relief stimulus also challenges the mood. Treasury Secretary Yellen reiterates the need for stimulus package, US activity numbers eyed. Gold stands on
The pound continues to be one of the best performing currencies this year which has helped to lift cable back to within touching distance of the 1.4000-level for the first time in almost three years. However, the latest UK press reports suggest that the UK government will adopt a very cautious approach to easing restrictions
A bigger-than-expected drop in Australia’s jobless rate struggles to draw more substantial buying pressure for the commodity-sensitive Aussie dollar. The pair clocked a high of 0.7764 soon before the data release and was last seen trading at 0.7758, having hit a low of 0.7724 on Wednesday. Australia’s jobless rate dipped to 6.4% in January, versus
Platinum reached a peak of 1343.60 on Tuesday and is selling off sharply. The metal is likely to see some consolidation around the 200-month moving average at 1212, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, briefs. Key quotes “Platinum is now selling off and the 200-month ma at 1212 and August 2016
Silver extends losses from a fortnight top marked the previous day. Receding strength of bullish MACD signals, downward sloping RSI favor sellers. A 2.5-month-old support line challenges bear below the short-term key support line. Silver prices remain depressed around $27.12, down 0.24%, despite recently bouncing off an intraday low of $27.05. The reason could be
Palantir Technologies (PLTR) results include a suprising EPS loss. Palantir is one of the favoured retail stock of 2021. PLTR did beat on sales estimates, increasing by 47%. Update, February 16: Shares in Palantir (PLTR) are sharply lower on Tuesday as the company announced a surprising earnings-per-share (EPS) loss of $0.08 versus analyst estimates for $0.02
GBP/USD takes the bids near the fresh high since April 2018. Bullish channel, MACD favor run-up to the 1.4000 threshold. One-week-old support line, 10-day SMA offer immediate supports. GBP/USD prints a three-day winning streak while rising to the fresh high in 34 months while taking the bids near 1.3925 during Tuesday’s Asian session. Bullish MACD
USD/CHF trades in tight range after posting losses last week. US Dollar Index remains on the back foot on Monday. Trading action is likely to remain subdued in the second half of the day. The USD/CHF pair lost nearly 90 pips last week and seems to be having a tough time staging a rebound on
XAU/USD Price Analysis: Bears in the driving seat at critical resistance Gold meets critical resistance on the pullback. Bulls seeking a break of prior closing highs. Gold prices have been consolidated since meeting the prior support after the break of the daily dynamic counter-trendline resistance. The following illustrates the two scenarios from the daily perspective
What you need to know on Monday, February 15: The American dollar fell on Friday as Wall Street soared, with the three major indexes posting record closes, and long-term bond yields reaching one-year highs. Poor US employment-related data and comments from Federal Reserve’s officials, indicating a long way ahead of reaching full employment, were behind
It was a choppy day, but EUR/USD ultimately finished above the 1.2100 level. USD saw weakness during US trading hours as risk appetite improved. It was a choppy final trading day of the week for EUR/USD; the pair sold off during early European trading hours, dropping below its 21-day moving average at the 1.2100 level
Gold is likely to open trading on Monday in losses, especially if the critical ascending channel’s middle boundary support breaks. The MACD has reinforced XAU/USD’s bearish outlook on the daily chart. Recovery will come into the picture if gold closes the day above the middle boundary support. Gold has continued to struggle amid a stronger
All three major US indices closed at record highs on the long US weekend. The fundamental backdrop remains very much bullish, as has been the case now for two weeks running. All-time closing highs for everyone! The party on Wall Street continues and the major US indices rounded out the week with a bang; the
USD/TRY regains some traction following YTD lows. Turkey’s Industrial Production expanded 9.0% YoY. End-of-Year Inflation came in at 11.23% (from 11.15%). The Turkish lira is giving away part of the earlier gains and now lifts USD/TRY to the 7.03 region. USD/TRY gradually approaches 7.0000 After bottoming out in the vicinity of the key 7.0000 level