Japan’s Q3 Gross Domestic Product preliminary result arrives at 5.0% QoQ vs. expected 4.4%, but the yen is unchanged. Key notes July-Sept private consumption rises for the first time in four quarters. CAPEX falls for the second straight quarter. Exports rose for the first time in three quarters. GDP posts fastest expansion since comparable data
FX
A Brexit deal is very difficult but still doable, Ireland’s Foreign Minister Simon Coveney told Sky News on Sunday, as reported by Reuters. Additional takeaways “If UK imposes Internal Market Bill, we won’t get a deal.” “Two sides are very far apart on fishing.” “Talks could fall apart on fishing, hopes that won’t be the case.”
Gold closed last two days of the week in the positive territory. XAU/USD lost more than 3% for the week. Gold could continue to push higher with a daily close above $1,900. The XAU/USD pair closed the last two days of the week in the positive territory but closed below $1,900. On a weekly basis,
EUR/GBP rebound from 0.8860, rejected at 0.9000. The pound appreciates after UK’s top adviser Cummings announces his exit. Euro’s recovery from week-lows at 0.8860 has been rejected at 0.9000 and the pair pulled back to 0.8960 area on Friday, on track to close the week with a 0.7% loss. The sterling appreciates as Brexit deal
USD/JPY accelerates its reversal beloew 105.00 to reach 104.55 area. Theyen appreciates on coronavirus concerns. The dollar remains bullish while above 104.40 – UOB. The USD/JPY has accelerated its downtrend from week highs at 105.65 after breaking below 105.00 on Friday and is attempting to stay above the 104.55/60 area. The greenback is trimming gains after Monday’s
USD/JPY bounces-off lows, re-takes 105.00 in Europe. Falling wedge breakout confirmed on a 15-minutes chart. RSI remains well within the bullish territory. USD/JPY is trying hard to extend the bounce above the 105 level, having hit daily lows at 104.86 in the Asian trades. The technical set up in the immediate term has turned in
USD/CAD rallied into Wilkins speech but was capped below session highs. US dollar is mixed as investors weigh the risks of the coronavirus spread vs the vaccine news. USD/CAD is currently trading at 1.3140 having travelled on the bid from a low of 1.3051 to a high of 1.3149 and is trading up to some
In a sign of confidence that the US trade and foreign policy under Democrat Joe Biden’s leadership would be less confrontational, investors have taken bullish bets in the Asian currencies for the first time in two months, a Reuters poll shows. Key points Bullish positions in the Chinese yuan and Singapore dollar have strengthened, according to the
Gold resumes its climb In early October Gold looked ready to rally. This 8-hour bar chart of the gold Exchange Traded Fund, GLD shows what happened. At that point, one could count 7 swings in the decline from the high at 3, so it looked like gold had completed a 7 move down Chaos Clamshell.
With the Reserve Bank of New Zealand offering an upbeat view of the economy, the country’s money markets are pricing out prospects of the Reserve Bank of New Zealand pushing rates to sub-zero levels in 2021. The central bank’s governor Adrian Orr was out on the wires soon before press time, stating that the economy
Lee Sue Ann, Economist at UOB Group, expects the RBNZ to leave the policy rate unaltered at its meeting on Wednesday. Key Quotes “We think it is indeed looking more likely that the RBNZ will cut the OCR, buy we will only be revising our OCR forecasts after assessing information from the upcoming November meeting.”
GBP/USD Price Analysis: Bulls struggle near two-month top, 5-day SMA offers immediate support GBP/USD recedes to 1.3160 during the initial hour of Tuesday’s Asian session. The pair refreshed the two-month peak on Monday but failed to stay positive beyond 1.3200. However, bullish signals from the MACD joins strong RSI, not near the overbought region, favor
The S&P 500 Index needs to close above 3550 to see its bullish “triangle” continuation pattern earlier than expected, clearing the way for a move back to the 3588 record high and new highs in due course, according to economists at Credit Suisse. See – S&P 500 Index tend to perform well in the three-month period
GBP/USD seesaws around short-term key resistance line after refreshing two-month high. Upbeat RSI conditions keep buyers hopeful above 200-bar SMA. GBP/USD stays positive around 1.3175, up 0.15% intraday, during Monday’s Asian session. The early Asian up-tick to 1.3182 extended the pair’s run-up to the fresh high since September 07 amid the price-positive RSI conditions. Even
A wedge pattern on the 4-hour chart hints at a potential reversal to 1,900. Gold sends mixed signals ahead of the new week’s trading; a rally to 2,000 is possible. Gold spiked significantly this week and brushed shoulders with 1,960. The instability witnessed in the stock market saw the precious metal used as a hedging
Joe Biden has been elected the 46th President of the United States according to Fox News, AP, ABC, NBC, and CNN. The former Vice-President has pulled ahead in Pennsylvania. The latest batch of votes from the Keystone State put Biden ahead by around 34,000 votes ahead of President Donald Trump. Here is the official post
Turkish central bank governor sacked in the wee hours of the night and replaced immediately. The lira is likely to lose traction against USD come Monday; projected down leg eyes the 100 SMA and the 50 SMA. Turkey’s central bank Governor, Murat Uysal has been fired by the country’ President, Recep Tayyip Erdogan. Interestingly, Uysal
XAU/USD rallies 4% on the week to reach $1,960 highs. Risk appetite boosts gold demand and sends the USD tumbling. Gold futures have ticked higher on Friday to reach seven-week highs at $1,960. Bullion has appreciated nearly 4% on the week boosted by USD weakness amid post-US election risk rally. XAU/USD rallies on risk appetite