FX

EUR/USD sidelined near 1.2150 as upbeat China data fails to inspire dollar selling. Coronavirus concerns overshadow vaccine optimism and China data and keep risk under pressure. The options market sees low odds of a continued rally while heading into the year-end. China data released early Tuesday showed the economic recovery broadened in November. So far,

NYSE: RCL is on the rise on the day that the US beings vaccinating its population against COVID-19. A return to normal would allow Royal Caribbean Cruises to bring elderly customers onboard.  Investors are shrugging off the firm’s financial woes.  A small clinic in Long Island, New York, administered the first coronavirus vaccine in the

Amid the latest reports that a $908 billion bipartisan coronavirus relief package set to be introduced in the US Congress as early as Monday will be split into two packages, US Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi has a 30-minutes call on Sunday, Pelosi spokesman Drew Hammill tweeted out. The Speaker and

Here is what you need to know on Monday, December 14: The dollar posted a modest advance on Friday, favored by the risk-off market’s mood. The dismal sentiment was mostly caused by no progress in Brexit talks. . By the end of the week, UK PM Boris Johnson said that it is “very, very likely” that

Following Wednesday’s sell-off, Gold (XAU/USD) traded within the $1825-$1850 range in the balance of the week, settling almost unchanged below $1840. The choppy trading could be attributed to the coronavirus vaccine-driven optimism and US fiscal stimulus headlines.   Heading into a fresh, an elusive US stimulus aid package and the FDA Pfizer’s covid vaccine authorization

Amid looming Sunday’s deadline to clinch a trade deal with the UK, the European Union (EU) member states have been warned not to entertain side deals with Britain, which would ease the consequences of a no-deal Brexit, the Financial Times reported Saturday, citing a diplomatic note. This comes after both the UK Prime Minister Boris Johnson

The Dow was supported by a melt-up in Disney’s share price, but the S&P 500 and Nasdaq Composite indices both fell on Friday. A lack of progress in both US fiscal stimulus and Brexit discussion is being cited as weighing on sentiment. The S&P 500 and Nasdaq Composite Indices both closed Friday’s session with losses

Gold remained depressed for the third consecutive session on Friday. Resurgent USD demand was seen exerting pressure on the commodity. A turnaround in the global risk sentiment helped limit any further losses. Gold edged lower during the mid-European session and dropped to the lower end of its weekly range, around the $1824 region, albeit lacked

Silver prints mild losses, recently fails to extent recovery moves from $23.87. Sustained trading below the key HMA suggests further downside. Monthly horizontal support challenges the bears amid normal RSI conditions. Silver declines to $23.96, down 0.17% intraday, during Friday’s Asian trading. In doing so, the white metal keeps its U-turn from 100-HMA, marked the

Jane Foley, Senior FX Strategist at Rabobank, discusses some of the factors that could curtail upside potential in EUR/USD in the coming months. The pair could slide below the 1.20 level. Key quotes “For the US to record lower than expected inflation, this may necessitate either a slower than expected US economic recovery, which could

GBP/JPY has slid back from earlier highs north of the 140.00 level to consolidate around 139.50. The pair still trades in the green, however, as traders await the outcome of Brexit talks between Johnson and von der Leyen GBP/JPY surged as high as the 140.30s on Wednesday, aided by positive comments from UK Cabinet Minister

The MSCI All Country World Index returned 12.2% in November, its best-ever monthly performance and has gained a further 2.4% in December so far. Economists at UBS see further upside based on widespread vaccine availability in 2Q21, a broadening of the economic recovery, additional US fiscal stimulus and continued global monetary policy support.  Key quotes

WTI trades off earlier lows and above the $45.50 level as traders eye pandemic and political developments. Coming up at 21:30GMT, weekly API crude oil inventories could trigger a reaction ahead of Wednesday’s official EIA inventory report. WTI bulls were there to support the price action earlier on during Tuesday’s session, keeping the American benchmark

According to FX Strategists at UOB Group, USD/CNH is expected to drop further and retest the 6.4960 level in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘oversold conditions suggest further USD weakness is unlikely’ and we expected USD to ‘consolidate and trade between 6.5120 and 6.5350’. Our view was not wrong

GBP/USD is in a phase of consolidation following recent failures to the upside and downside.  Brexit deal is still elusive and talks move into the 11th hour.  GBP/USD is trading at 1.3390, between a 1.3223 and 1.3437 range for the day, down some 0.30%. The focus is with Brexit from a domestic standpoint, while investors

Traders reduced their open interest position in gold futures markets by just 597 contracts on Friday, in light of flash data from CME Group. In the same line, volume extended the downtrend for yet another session and shrunk by nearly 7K contracts. Gold stays limited by $1,850/oz Friday’s inconclusive price action in gold was amidst

Major US equity bourses rallied into the close of US cash trade, each closing at record highs and SPX nearly surpassing 3700. A soft US labour market report was seen as boosting the chances of fiscal stimulus given, hence was taken as good news. President-elect Biden calls for stimulus and suggests any deal this year

Gold rebounds massively from the lows traded in November. A break above the 100 SMA on the 4-hour chart will help validate the expected spike to 1,875. Gold’s price recently broke out of a descending wedge pattern. This breakout shifted the bulls’ focus upward after support at 1,760. Several resistance levels delayed the recovery, including