FX

GBP/USD trims losses and closes the week above 1.2900. The pound shrugs off Boris Johnson’s call for a no-deal Brexit. The sterling has shown resilience on Friday and managed to trim previous losses against the US dollar despite UK PM Boris Johnson’s plea to prepare for a no-deal exit from the European Union. The pound

EUR/GBP recovery from 0.9000 area stalls at 0.9100. The pound holds its ground despite growing concerns of a no-deal Brexit. The EUR/GBP is seen at 0.8900 in three months – Rabobank. The euro has been unable to extend its recovery from weekly lows neat 0.9000 to levels past 0.9100 on Friday. The pair found resistance right

EUR/USD has declined by 1% so far this week and looks set to extend losses as the technical picture is bearish despite the fact that the pair is entering oversold conditions according to Friday’s 4-hour chart, Yohay Elam, an Analyst at FXStreet, reports. At press time, the EUR/USD pair is trading largely unchanged on the

Oil prices rally in New York but remain down on the day. Demand-side risks mounting as the COVID-19 second wave swells and USD catches a bid. The price of US oil is trading at $40.88 and between a range of $39.25 and $41.27, down some 0.5% on the day so far.  The rally in the

EUR/GBP remains dull around 0.9025/30 following its bounce off 0.9007, five week low, the previous day. The pullback from the channel, bullish MACD favor further recovery. 200-HMA, bearish chart pattern keeps suggesting pair’s weakness. EUR/GBP treads water around 0.9030 while heading into the European session on Thursday. The pair slumped to the lowest since early

Economists at Rabobank expect to see a spike to the 0.93 region on the EUR/GBP pair on the event that no trade deal is signed by the EU and the UK.  Key quotes “On the assumption that the UK and EU will find enough common ground to sign off on a trade deal this year

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work

Ireland’s Foreign Minister Simon Coveney said on Tuesday that he doesn’t see any major breakthrough in Brexit talks this week but added that a deal is very much still possible, as reported by Reuters. Additional takeaways “Final deal needed on fair competition through the level playing field.” “Many issues in relation to fishing outstanding, some

Gold refrained from extending the previous day’s losses from three-week top. China’s dislike of US arms push to Taiwan, COVID-19 updates and American President Trump’s health recovery recently gained market attention. Wall Street cheered tech-rally, ignored fears of further US stimulus stalemate. Trade data from China, US CPI and American traders’ reaction to the latest

These are the main highlights of the CFTC Positioning Report for the week ended on October 6h: Net longs in EUR receded to levels last seen in late July. Concerns over the second wave of the coronavirus and its impact coupled with increasing restrictions already in place by several countries appear to have undermined the

Gold bulls catch a breather around three-week high near $1,930 flashed on Friday. Fresh challenges to US stimulus, Brexit and the coronavirus news probe the metal’s latest upside. Off in the US, light calendar in Asia restrict market reaction. Gold takes rounds to $1,928/29, following the day-start weakness to $1,926.40, during the pre-Tokyo open Asian

Gold poised for a rally towards the $2000 mark in the week ahead. Bulls charted a classic falling wedge breakdown on the daily chart. A break above 50-DMA resistance is critical to take on the further upside. Following the settlement at two-week highs of $1930, Gold (XAU/USD) remains poised to extend the bullish momentum into a

The People’s Bank of China (PBOC) will slash its reserve requirement ratio (RRR) to zero for some forex exchange forwards trading, effective from Monday, the central bank said on its website this Saturday. The PBOC said: “The People’s Bank of China (PBOC) will continue to maintain flexibility in the exchange rate, stabilize market expectations, and

Gold (XAU/USD) settled the past week at two-week highs of $1930.60, having recorded the second straight weekly gain. The yellow metal tracked the rally in stocks amid a broad US dollar sell-off, induced by the increased expectations of the US policymakers agreeing on a comprehensive fiscal stimulus deal. Heading into a fresh week, gold traders

Previewing next week’s key events in the UK, TD Securities analysts noted that the UK wants to finalize the outline of a deal with the EU by October 15. Key quotes “There are high expectations for some high-level give & take to finally push negotiations over the line and into the infamous “tunnel.” However, we

The UK Finance Minister Rishi Sunak said that the September GDP data showed that the economy has grown for four consecutive months. Key quotes “Today’s figures show our economy has grown for 4 consecutive months.” “But I know that many people are worried about the coming winter months.” These comments come after the September month

Economists at Westpac have lifted Australian 2021 growth forecast to 2.8% from 2.5% and 2022 from 2.7% to 3.5% following the 2020/2021 Budget. The AUD/USD pair is holding a tough battle with key resistance below the 0.7200 level. Key quotes “The Budget provides two major sources of policy to boost the economy around household incomes

WTI Oil has been flirting with the $40 level after Crude Oil Inventories showed a minor increase of 0.5 million barrels, worse than expected. Bart Melek, Head of Commodity Strategy at TD Securities, notes that tough support is seen at $37 while stubborn resistance awaits at $42. Key quotes “Following an upbeat week, crude oil