USD/CAD pair is posting modest daily gains on Friday. US Dollar Index continues to push lower below 95.00 ahead of US data. Crude oil rebounds modestly following Thursday’s sharp drop. The USD/CAD pair dropped to its lowest level since June 10th at 1.3349 on Thursday but closed the day flat above 1.3400 as falling crude
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USD/CAD fails to extend U-turn from 1.3351 beyond 1.3417. Bullish MACD raises fears of the channel break and attack to 200-HMA. An eight-day-old falling trend line adds to the upside barrier. June low becomes the key support holding gates for 1.3200. USD/CAD seesaws near 1.3400 during the early Friday’s Asian session. The loonie pair bounced
“The Bank of England does have tools to calm dysfunctional markets,” Jonathan Haskel, a member of the Monetary Policy Committee (MPC) of the BoE, said on Thursday. “Returns on real estate may not be very rosy due to the long-term impact of COVID,” Haskel added. Regarding the economic outlook, Haskel said he was worried about
Silver prices recede after crossing the October 2013 peak with a high of $23.26. Confirmation of a bearish chart pattern will recall the sub-$22.00 area. Bulls will have to cross September 2013 top to extend the north-run. Silver prices mark depression around $22.88 during the initial Asian trading on Thursday. The white metal surged to
Coronavirus crisis will exacerbate spending pressures in rapidly ageing societies in Europe, Moody’s Investor Services said on Wednesday, as reported by Reuters. “Coronavirus fallout will make Europe more indebted, more social and more reliant on technology,” Moody’s added. “Coronavirus crisis is expected to increase momentum around Europe’s digital strategy, supporting demand for technology companies’ services.” Market reaction
Retail Sales overview Early Wednesday, the market sees the preliminary reading for the June month Retail Sales data from Australia at 01:30 GMT. Following a 16.9% increase in May, markets are expecting a 7.1% rise in the key data. Traders are particularly interested in the data as the RBA Governor Philip Lowe showed readiness to
In a report published on Tuesday, the UK’s Office for Budget Responsibility (OBR) noted that the UK’s debt to GDP ratio could exceed 100% soon. The OBR noted that the year-to-date borrowing is lower than they have determined in the central scenario and explained that this situation was reflecting the lack of loan write-offs in data
AUD/JPY stays firm around the six weeks high flashed the previous day. Data from Australia comes in weak, Japan CPI prints upbeat figures. Hopes of further stimulus, vaccine news previously favored the risk-on moves. Aussie bulls await policymakers’ discussion over the pandemic’s resurgence and any preparedness for that. AUD/JPY remains on the front foot around
USD/JPY struggled to preserve its early gains to 1-1/-week-tops amid renewed USD selling. A weaker tone surrounding the US bond yields further contributed to the intraday pullback. A modest recovery in the equity markets failed to impress bullish traders or lend any support. The USD/JPY pair has now drifted back to the lower end of
USD/CAD remains in the range between 1.3565 and 1.3590 since Thursday. A three-week-old falling trend line adds to the upside barriers. 38.2% Fibonacci retracement offers immediate support ahead of 200-day SMA. USD/CAD stays sluggish around 1.3580 during the early Asian session on Monday. Despite its latest efforts to cross 21-day SMA, the loonie pair has
While speaking to reporters on the third day of EU leaders’ talks on budget and recovery fund, “we made not enough progress to reach an agreement,” Greek Prime Minister Kiriakos Mitsotakis said on Sunday. “I hope today we can break the deadlock,” Mitsotakis added. “We’re facing an unprecedented economic crisis, we cannot afford to appear divided
European Council President Charles Michel made a new proposal to break the deadlock at the EU summit, Reuters reported on Saturday, citing an internal document and EU diplomats. “To assuage concerns by the northern camp of thrifty EU countries led by Dutch Prime Minister Mark Rutte, the share of free grants in the proposed 750
XAU/USD extended its rally and closed sixth straight week higher. Strong support for gold seems to have formed near $1,800. Pair could stage a technical correction before pushing higher. The troy ounce of the precious metal gained $11 last week and registered its highest weekly close since September 2011 at $1,810. Moreover, the XAU/USD pair
Equities finish the week strong and push higher on Friday. The VIX also dipped and dropped 8.29% on the session. S&P 500 weekly chart It has been a positive week for stocks as vaccine stories dominate the headlines over the week. The bullishness comes despite the US coronavirus cases hitting record levels. Interestingly the tech
Gold Price Analysis: First hurdle crossed, next bullish levels in sight – Confluence Detector Gold has recaptured the round $1,800 level and also topped a critical hurdle mentioned earlier in the day. The road is now open for XAU.USD to continue to higher ground. The Technical Confluences Indicator is showing that the next target is
GBP/USD extends pullback from 1.2536 after flashing a bearish candlestick formation the previous day. Failures to cross 200-day EMA, lower high from the recent top favors the sellers. Bulls will have a bumpy road before challenging the June month top. GBP/USD extends the latest recovery moves from 1.2536 to 1.2558 during the early Asian session
IDEX stock gains +6.56% during trading day. Low volume for IDEX stock despite share price rising. Bargain-hunting investors may have been behind the upswing. NASDAQ:IDEX investors have seen a brief glimmer of hope today as the share price has risen for the first time in nearly a week. The stock opened $0.03 higher from its
Gold Price Analysis: XAU/USD bulls stay hopeful above $1,800 despite Wednesday’s spinning top Gold prices ease from one week high to $1,810 amid early Thursday morning in Asia. The bullion marked consecutive third positive daily closing the previous day. However, sluggish moves portray a “Spinning Top” candlestick formation suggesting traders’ indecision. The pattern joins the