USD/JPY is posting modest daily losses on Wednesday. 10-year US Treasury bond yield is down more than 1%. US Dollar Index stays near 92.00 ahead of FOMC Minutes. The USD/JPY pair stayed relatively quiet around 104.50 for the majority of the day and edged modestly lower during the American trading hours. As of writing, the
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In opinion of FX Strategists at UOB Group, AUD/USD is now seen retaking the 0.7400 hurdle and above in the next weeks. Key Quotes 24-hour view: “Our expectation for AUD to ‘consolidate within a 0.7260/0.7330 range’ yesterday was wrong as it soared to a high of 0.7368, dropped back down to an overnight low of
WTI surged nearly $2 to reach $45 for the first time since early March on Tuesday. A confluence of risk on factors, including decreased US political uncertainty and vaccine, strong data and OPEC+ optimism are all helping. WTI trades with gains of nearly $2 or 4.5% on Tuesday, taking the American benchmark for sweet light crude
The Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle said that he doesn’t expect a rate hike for three years, in a scheduled speech on “Monetary Policy in 2020” at the Australian Business Economists webinar. Additional quotes Policy action has reduced borrowing costs Bond buying program means A$ is lower than it otherwise would
USD/CAD is pushing lower at the start of the week. WTI is trading at its highest level in more than two months near $43. US Dollar Index extends slide toward 92.00 ahead of mid-tier data. The USD/CAD pair is edging lower on Monday as the rising crude oil prices help the commodity-related CAD outperform its
USD/ZAR snaps two-day losing streak with the week-start upside gap to 15.42. Fitch downgrades South Africa to BB- with a negative outlook. Having marked a 10-pips gap-up, from 15.32 to 15.42, at the week’s start, USD/ZAR seesaws in a choppy range, currently around 15.43, during Monday’s Asian session. In doing so, the pair respects the
Silver trades sharply below highs made at the start of the US session, but holds onto decent gains on the day. Significant upside was seen in precious metals markets as US Treasury Secretary Mnuchin spoke prior to the US open. Silver (XAG/USD) started off strong on Friday, rallying through the Asia and European morning session.
NZD/USD appreciates for the third consecutive week to reach a 23-month high at 0.6950. The kiwi trades higher as risk appetite returns. NZD/USD is biased higher and might break above 0.6945 – Credit Suisse. The New Zealand dollar is pulling back on Friday’s late trading after having posted a fresh 23-month high at 0.6950. The pair
The S&P 500 sold off in the final hour of trade and S&P 500 futures ended the week close to lows. Uncertainties regarding US politics and the Fed’s emergency lending facilities, coupled with further lockdown concerns weighed. Following a choppy session, the S&P 500 sold off in the final hour of trade, ultimately ending the
Gold’s recovery from $1,850, rejected at $1,880. XAU/USD fails to take advantage of the positive market mood. Breach of $1,850 support might accelerate the downtrend. Gold futures are consolidating above $1,870 ahead of the weekly close after having been rejected at $1,880 earlier today. Bullion has managed to bounce up fro key support at $1850 although
The EU negotiating team has reportedly briefed ambassadors that Brexit talks remain unresolved on three main issues. These are fisheries, governance, and a level playing field. Brussels says London has not moved on these topics. GBP/USD is trading closer to 1.3250, down from near 1.33. Face-to-face talks have been suspended after one EU team member
USD/CHF recovery hits resistance at 0.9130 and retreats to 0.9110 area The dollar pares losses and remains barely changed on the day. Speculation about Fed monetary easing in December is weighing on USD longs. US dollar’s bullish reversal from 0.9105 area witnessed during the early European session on Thursday has been capped at 0.9130 and
“India’s economy seeing a faster return to normal, with COVID-19 curve flattening,” the Barclays Research Team said in a note released Thursday. Additional takeaways Raises FY22 growth forecast for India to 8.5% from 7.0% Expect recent improvement in India manufacturing to broaden to services sector early next year. See better trajectory for recovery of consumption
GBP/USD’s four-day rally hits resistance at 1.3315. Pound appreciates on hopes of an imminent Brexit deal. GBP/USD might reach 1.3474/1.3514 – Credit Suisse. The sterling appreciated for the fourth consecutive day on Wednesday, fuelled by higher hopes of a trade deal with the EU. The pair, however, was rejected at 1.3315, for the second time
EUR/USD regains poise, tracking risk recovery in stocks. Hopes for swift vaccine-led global economic recovery overshadow rising coronavirus cases. Dips remain well supported by expectations for additional Fed easing. EUR/USD has reversed early losses, with the risk assets regaining poise despite rising odds of coronavirus-induced lockdown restrictions in major economies. Bounces from 1.1850 The pair is
AUD/USD has dropped below 0.7300 amid post-US cash open/soft US retail sales data downside in US equities. Having failed to break above 0.7340, the upper bound of its recent range, further near-term consolidation seems likely. AUD/USD has been on the back foot in recent trade, most recently dropping below the 0.7300 level to set fresh lows
NZD/USD refreshes intraday high, bulls eye 20-month high flashed last week. NZ Trade Minister O’Connor says strong NZD is always a concern. Vaccine news backs the buyers even as virus woes bother US states. NZD/USD gains 0.10% intraday, to currently around 0.6915, after refreshing the highest level since March 26, 2019 during Tuesday’s Asian session.
Risk flows started to dominate financial markets on Monday after Moderna announced that the latest trial showed that its coronavirus vaccine candidate if 94.5% effective. Additionally, the company said that the vaccine is expected to remain stable at standard refrigerator temperatures of 2° to 8°c for 30 days, per Reuters. The company further noted that