FX

WTI fizzles the run-up above $40.00 after flashing two-week high of $41.48. Overbought RSI conditions, strong SMA probe the bulls. Sellers await a clear downside break of 61.8% Fibonacci retracement level around the $41.00 area. WTI consolidates the recent gains to $41.48 within a choppy range above $41.00, currently up 0.20% around $41.30, during the

GBP/USD Forecast: BOE may compound the Fed and trigger greater downfall The Brexit bonanza has proved short-lived – Pound bulls prematurely celebrated Prime Minister Boris Johnson’s climbdown before the Federal Reserve sent the safe-haven dollar higher. Now it is the Bank of England’s turn to move cable – and potentially tilt it lower. PM Johnson

NZD/USD keeps the post-Fed recovery despite shrugging off New Zealand (NZ) GDP data. New Zealand’s second-quarter (Q2) GDP shrank 12.2% QoQ versus -12.8% forecast. US Federal Reserve struck mildly hawkish tone despite showing readiness to pump the markets for longer. Aussie employment data will be the key ahead of the next week’s RBNZ. NZD/USD remains

AUD/USD posts modest daily gains above 0.7300 on Wednesday. USD struggles to find demand ahead of FOMC’s policy announcements. Labour market data from Australia will be released on Thursday. The AUD/USD pair closed the first two days of the week modestly higher and preserved its bullish momentum on Wednesday. As of writing, the pair was

Four senior congressmen write to Boris Johnson to reiterate there will be no US-UK trade deal if the legislation to override the EU-UK Withdrawal Agreement isn’t pulled pic.twitter.com/Q3n7yewn0S — Sam Coates Sky (@SamCoatesSky) September 15, 2020 The tweet is a follow up of earlier informal warnings from Rep. Nancy Pelosi, Speaker of the United States House

AUD/USD rose sharply on upbeat Chinese data on Tuesday. US Dollar Index stays in the negative territory below 93.00. RBA reiterated that it will not hike rates until progress is made toward full employment. The AUD/USD pair gained traction during the Asian session on Tuesday and climbed to its highest level since September 3rd at

Amid the on-going Sino-American tussle, the Trump administration silently eased stance towards China and Hong Kong. This comes after the “US State Department said on Monday it had eased a travel advisory for Americans considering travel to China or Hong Kong from ‘Do Not Travel’ to ‘Reconsider Travel.’, as per Reuters. Key quotes The State

NZD/USD is edging higher after finishing the previous week in the red. US Dollar Index retreats toward 93.00 on Monday. Risk-on market environment makes it difficult for the USD to find demand. The NZD/USD pair registered modest daily gains on Friday but closed the week modestly lower. With the market sentiment turning positive at the

Telegraph came out with the story suggesting a delay in the UK’s much-awaited budget during the early Monday morning in Asia. The news cited anonymous sources to suggest that the Chancellor Rishi Sunak searched for leeway to announce the budget amid the coronavirus (COVID-19) resurgence. Key quotes Treasury sources say Chancellor wants ‘flexibility’ to hold

The United States’ federal budget deficit rose above $3 trillion for the first eleven months of fiscal 2020 amid the massive increase in government spending to counter the negative impact of the coronavirus outbreak, the data published by the US Treasury Department showed on Friday. During the same period of 2019, the deficit was $1.067 trillion. 

WTI has pushed 0.87% from the lows on Friday.  The Baker Hughes rig count once again stalls. WTI 1-hour chart WTI has been in freefall for most of the week dropping 5.28% this week following on from last weeks loss of 8.16% drop. There has been a small recovery and now it seems there is

Gold is in the middle of a downtrend as far as the RSI is concerned. XAU/USD has the potential breakout to highs above 2,000. The world’s precious metal has been trading a lower high and a lower low pattern for the past two days. A descending trendline continues to limit the upside. This week’s barrier

EUR/USD has pushed up 0.21% on Friday and is flat for the week. The price has now moved back to the middle of the weekly range. EUR/USD fundamentals EUR/USD has had an interesting week, to say the least. There have been Brexit woes to deal with but the pair managed to hold up after the

NASDAQ:NVAX gains 2.22% on Thursday despite broader market dip. News of AstraZeneca halting its COVID-19 vaccine study has boosted other rivals in the industry. Novavax has dropped nearly half of its market cap during the last month, enticing bargain investors. NASDAQ:NVAX has gained where its rivals have faltered as the race for the coronavirus vaccine

AUD/JPY prints fifth failure to cross 50-bar SMA in the last seven days. Bullish MACD keeps the quote above 200-bar SMA. Monthly high will get the bull’s attention during the strong upside, sellers may eye August 20 low. AUD/JPY stays pressured around 77.00 amid the early Friday morning in Asia. In doing so, the Aussie

NYSE:KODK rises 5.24% after a renowned investment firm initiates a new position. Investors anticipate the federal loan being released and Kodak to begin supplying the U.S. with active pharmaceutical ingredients. It has been a strange year for a multitude of reasons but not the least of which has been the sudden resurgence of Eastman Kodak

After the UK’s Internal Market Bill sounded all alarms for the European Union (EU) policymakers, Telegraph came with news suggesting the bloc’s readiness to file a suit against its ex-neighbor. It was also confirmed that European Commission Vice-President Maroš Šefčovič will meet with the UK’s Michael Gove on Thursday to seek clarifications on the full

GBP/USD remained depressed for the sixth consecutive session on Wednesday. Rising fears of a no-deal Brexit, sustained USD buying continued exerting pressure. Bearish traders now await the UK internal market bill for some meaningful impetus. The GBP/USD pair now seems to have entered a bearish consolidation phase and was seen oscillating in a range near