USDCHF Hits 2-Week Low; Remains Bullish in Medium Term
USDCHF extended Tuesday’s losses and is currently trading not far above a two-week low of 0.9952 hit earlier on Wednesday. The RSI turned lower after entering overbought territory above 70. At the moment, it continues to head lower in support...
Gold Looks Neutral in Near-Term; Develops in Sideways Channel
Gold is currently trading within a consolidation area over the last month, with upper boundary the 1239 resistance level and lower boundary the 1212 support barrier. At the end of the previous month, the price reached a new three-month peak...
US Mid-Term Results Cheered by Stocks, But Dollar and Yields Pressured
Dollar’s selloff continues as markets enter into US session. It’s clear that Democrats have regained control of the House while Republicans retained control of Senate. The reactions in the financial markets are not too straightforward. Stocks are cheering the results...
EURUSD Sees Strong Rally With Eyes On 1.1549 Zone
EURUSD sees strong rally with eyes on the 1.1549 zone. This is a build up on its recent bullish recovery. Support lies at the 1.1450 level. A violation will aim at the 1.1400 level. A turn below here will target...
Dollar’s Rivals Gain as US Congress Split Flags Political Noise; RBNZ Rate Decision Awaited
Here are the latest developments in global markets: FOREX: As was widely anticipated, Democrats took control of the House and Republicans retained the majority in the Senate in the mid-term US elections. The dollar index opened with a gap down on...
Canadian Dollar Higher as Risk Appetite Returns after US Election
The Canadian dollar has posted gains in the Wednesday session, USD/CAD is trading at 1.3080, down 0.33% on the day. On the release front, Canada releases Ivey PMI, which is expected to improve to 50.9 points. There are no major...
EURUSD Bulls Targeting 1.1500 Level
The euro has moved to a fresh monthly trading high against the greenback during the European trading session, as the US dollar index tumbles below the 96.00 level. EURUSD bulls are now targeting towards the 1.1500 level after a strong...
Treasury yields fall as the midterms result in a split Congress; Fed gathers for two-day meeting
U.S. government debt prices rose on Wednesday as midterm election results came in line with expectations, seeing the Democrats taking control of the House of Representatives and splitting Congress. As of 5:10 a.m. ET, the yield on the benchmark 10-year...
Dollar Suffers as Democrats Set to Regain House Majority
Dollar trades broadly lower as results of US mid-term election kick in. At the time of writing, Democrats already claimed victory of 163 seats in the House while Republicans got 159 seats. And the Democrats have already achieved a net...
Wall Street foe Maxine Waters is likely to take over the House panel that oversees big banks
A fierce Trump critic and Wall Street foe appears poised to take control of the House’s powerful financial services committee. Rep. Maxine Waters has been the top Democrat on the banking panel since Barney Frank, the former congressman from Massachusetts,...
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