FX

USD/JPY is still expected to grind lower in the next weeks, according to UOB Group’s FX Strategists. Key Quotes 24-hour view: “We expected USD to weaken yesterday but we were of the view that ‘102.85 is a solid support and this level is unlikely to yield so easily’. We highlighted that the ‘next support is

AUD/USD is falling sharply in the second half of the day. Wall Street’s main indexes are posting large losses. US Dollar Index rises toward 90.00 on risk aversion. The AUD/USD pair started the new year on a firm footing and came within a couple of pips of the multi-year high it set at 0.7743 last

Gold prices ease from the multi-day high as US dollar marks corrective pullback. Risks dwindle amid virus woes, mixed prints of December’s activity numbers in Asia. Sustained upside break of short-term triangle favor buyers. Gold prices trim early Asian gains while receding to $1,921.67, up 1.21% intraday, ahead of Monday’s European session. The yellow metal

Here is what you need to know on Monday, January 4: The dollar closed the year on a weak note and may remain under selling pressure. Wall Street kept advancing, adding pressure on the greenback. The DJIA and the S&P closed at record highs. The shared currency eased on profit-taking but held above 1.2200 against its

Wall Street’s main indexes trade little changed on Thursday. US stock markets will close early on New Year’s eve.  S&P 500 Energy Index is down nearly 1%. Major equity indexes in the US started the day near Wednesday’s closing level as trading volume remains thin on New Year’s Eve. As of writing, the Dow Jones

Spot silver prices are off highs set during Asia Pacific trade and thus trade lower on the day. The technical picture looks bullish, however, though further gains are likely to wait until January. Spot silver was the best performing precious metal in 2020 after years of underperformance. Spot silver (XAG/USD) prices broke to the upside of

EUR/USD is posting modest daily losses on Thursday. Profit-taking ahead of the New Year holiday seems to be weighing on the EUR. EUR/USD is up more than 2% for the second straight month in December. After closing the previous four trading days in the positive territory, the EUR/USD pair edged slightly lower on the last

GBP/USD is finishing the year on the front foot amid a weaker USD. Sterling traders continue to mull the themes of UK lockdowns, vaccination and continued Brexit negotiations into 2021. GBP/USD is finishing the year on the front foot, with the pair crossing above the 1.3650 mark for the first time since May 2018 and

Gold have the best year since 2010, rising $350 or 22%. XAU/USD continues to test the $1900 area, a critical short-term resistance. Gold is about to end the year with a bullish bias, testing the $1900 barrier, supported by a US dollar decline. It gained 22% over the year and hit a record high at

Gold (XAU/USD) surged to all-time highs above $2,000 in August. The yellow metal went into a consolidation phase below $2,000 toward the end of summer and staged a deep correction in November. However, the improving market sentiment in the last quarter of the year also weighed heavily on the USD and allowed XAU/USD to rebound

WTI keeps upside break of 100-HMA and 61.8% Fibonacci retracement. Baker Hughes US Oil Rig Count grew 267 during the latest weekly release of 2020. Two US B52 bombers head to the Middle East to warn Iran. Two-week-old falling trend line on bulls’ radars, sellers have multiple barriers around 47.50/60. WTI settles around $48.40 by the

GBP/USD gained strong follow-through traction for the second straight session on Wednesday. The upbeat mood undermined the safe-haven USD and remained supportive of the momentum. Approval of COVID-19 vaccine by AstraZeneca/Oxford further boosted the global risk sentiment. The USD selling remained unabated through the first half of the European session and pushed the GBP/USD pair

As Asian traders prepare for the US Senate voting on the coronavirus (COVID-19) stimulus, they have another reason to be cautious as the US reports the first covid variant found in the UK. Also disturbing the fact is that the case found in Colorado doesn’t have any travel history. This could be the push for

GBP/USD regained positive traction on Tuesday and recovered a part of overnight losses. The prevalent risk-on mood undermined the safe-haven USD and remained supportive. The GBP/USD pair added to its intraday gains and climbed further beyond the key 1.3500 psychological mark during the early part of the European session. Following the previous session’s sharp intraday

GBP/USD is languishing close to lows of the day around 1.3450. The “sell the fact” reaction to the announcement of the deal last week has continued into the final trading week of the year. It’s been a rough day for sterling, with GBP/USD slumping more than 0.6% to around 1.3450 having previously traded above the

Gold struggled to capitalize on its intraday gains and faced rejection near the $1900 mark. Sustained USD selling bias provided a modest lift to the dollar-denominated commodity. The prevalent risk-on environment was seen exerting pressure on the safe-haven metal. Gold refreshed daily lows during the early European session, albeit quickly recovered thereafter. The commodity was

Here is what you need to know on Monday, December 28: A post-Brexit agreement was finally reached on Christmas Eve. During the weekend, the EU and the UK published the full text of their post-Brexit arrangement, which includes details on trade, law enforcement and dispute settlement among other things. The accord needs to be ratified by

The European Union and the United Kingdom reached a trade deal. Pound retreats after the announcement, EUR/GBP rises to 0.9000. The EUR/GBP pair rose from three-week lows around 0.8950 to 0.9007, trimming daily losses after the announcement that the United Kingdom reached a deal with the European Union after months and months of talks. The