FX

DXY pairs losses in the final hours of FX trade and manages to close in the green close to 90.80. However, DXY still closed the week with steep losses of just over 1.0%. The Dollar Index (DXY) picked up into the Friday FX market close, closing the final trading day of the week close to

GBP/USD is back close daily lows after EU Chief Negotiator Barnier announced no deal has been reached just yet. Talks have been paused and UK PM Johnson and EU Commission President von der Leyen will discuss the state of play tomorrow. GBP/USD has sunk back towards lows of the day in the 1.3420s as Brexit

NZD/USD edged lower on Friday and retreated further from multi-year tops set on Thursday. Slide below the 0.7050 confluence support might have set the stage for additional weakness. The NZD/USD pair witnessed some profit-taking on Friday and extended the previous day’s retracement slide from the highest level since April 2018 – levels just above the

USD/CHF dropped momentarily below the 0.8900 level in earlier trade for the first time since January 2015. Broad USD weakness is the cause of the decline, with CHF holding up well despite buoyant risk appetite. Broad USD weakness on Thursday is to blame for USD/CHF’s continued march to the south, with the pair momentarily dropping

In opinion of FX Strategists at UOB Group EUR/USD could now attempt a move to the 1.2200 mark in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘robust momentum suggests further EUR strength’. We added, ‘the next resistance is at 1.2100 followed by 1.2130’. Our view was not wrong as EUR surged

According to the Research Department at BBVA, support the argument that a neutral, prudent but accommodative monetary policy will be the main monetary policy stance in 2021 in China. The point out the authorities will postpone the beginning of a real tightening cycle and proactive deleveraging to a later stage. Key Quotes:  “The domestic economy is

GBP/USD consolidates rally to three-month highs of 1.3440 Brexit deal, UK vaccine rollout likely this weekend. US stimulus talks down the dollar, eyes on ADP jobs. GBP/USD looks to extend its bullish consolidative mode above 1.3400 into European trading, having hit three-month highs at 1.3440 amid renewed Brexit optimism and broad-based US dollar weakness. The

USD/CAD trades within a 1.2940-1.2980ish intra-day range at present, having backed off Monday highs above 1.3000. Loonie traders shrugged off weak GDP data and continue to focus on OPEC+/crude oil market developments. USD/CAD is consolidating within a 1.2940-1.2980ish intra-day range at present, after a bout of Tuesday’s Asia session USD weakness brought the pair back

Gold Price Analysis: XAU/USD braces for a bumpy road to recovery above $1775 – Confluence Detector Gold (XAU/USD) is making another recovery attempt from five-month lows of $1765 as the US dollar dips on improved market mood amid coronavirus vaccine and US stimulus hopes. US Treasury Secretary Steve Mnuchin’s push for utilizing $455 billion from

GBP/USD trades just below highs of the day in the 1.3380s, as month-end flows hurt USD. Sterling’s rally comes despite continued deadlock in Brexit negotiations. GBP/USD has moved back towards the top of its recent 1.3300-1.3400 range, buoyed by broad USD weakness that has seen the Dollar Index (DXY) slump to fresh lows of the

The European Central Bank (ECB) should stop talking about fiscal policy as it feeds the perception that the bank is running out of ammo, according to Robin Brooks, Chief Economist at the Institute of International Finance (IIF).  The 17-nation central bank should focus on the core issue of interest rate differentials and its impact on the EUR

Here is what you need to know on Monday, November 30: The American dollar was the worst performer on Friday, falling against all of its major rivals, but the pound. The EUR/USD pair was the best performer, reaching a fresh 2-month high of 1.1963. The GBP/USD pair fell for a second consecutive day as the

GBP/JPY’s reversal from  140.00 area extends to 138.35. Brexit uncertainty and Scotland’s referendum hurt the pound. GBP/JPY eroding trendline support at 138.40. The sterling is trading lower against the Japanese yen for the second consecutive day, giving away most of the ground taken earlier this week. Pound’s reversal from intra-week highs right below 140.00 has

Gold lost 4.5% on the week, the worst week since end-September. Stops got triggered after gold breached the $1800 critical threshold. Coronavirus vaccine progress-led economic optimism hammered gold. Gold (XAU/USD) finally breached the critical $1800 support on Friday, closing the week below that level for the first time since July 16. The spot eroded 4.5% of

AUD/USD shrugged off negative China trade news on Friday to hit fresh monthly highs. Excellent Australian containment of the Covid-19 pandemic is likely supporting the currency alongside NZD. AUD/USD looks set to end the week on the front foot and at its highest levels since early September of just below 0.7400. On the day, the

USD/CAD remained confined in a narrow band on the last trading day of the week. A softer USD failed to assist the pair to capitalize on this week’s attempted recovery. A sharp pullback in oil prices undermined the loonie and helped limit the downside. The USD/CAD pair lacked any firm directional bias on Friday and

AUD/USD consolidates gains below 0.7400 in a thin market session. US FOMC minutes hurt demand for USD. Westpac’s analysts see the Aussie breaking past 0.7400 next week. The Australian dollar has been practically flat at 0.7365 area on a quiet session with the US celebrating Thanksgiving day. The pair consolidates gains near three-month highs with

UOB Group’s FX Strategists noted EUR/USD could gradually approach to 1.1980 in the next weeks. Key Quotes 24-hour view: “We expected EUR to strengthen yesterday and were of the view that ‘a break of 1.1920 could potentially trigger further buying towards the next resistance at 1.1955’. While EUR cracked 1.1920, there was not much follow-through