USD Index Can See Further Bearish Developments
Similar to EURUSD, USD index has also been trading within a correction as part of a trend, however of a downtrend. We labelled a high for this correction at the 98.45 area, from where a strong decline started developing. Ideally...
EUR/USD Trades Near 1.1090
On Wednesday, the EUR/USD currency pair tested the resistance level formed by the weekly R1 at 1.1078. During today’s morning, the pair was trading at the 1.1085 level. Note that the exchange rate has reversed north from the lower boundary...
Gold Volatile Due To Trade Narrative
The precious metal was trading volatile on Wednesday. The trade talks, which seem to have stalled now, raise prospects that the Phase-One deal will not be made this year. The earlier view was that both parties would strike a deal...
Sentiments Weighed Down by US-China Uncertainties, Yen Higher
Commodity currencies are back under pressure as Asian markets tumble on uncertainties over US-China relations. It’s unsure whether the phase-one trade deal could be completed in time to avert the December batch of new tariffs. The situation is further complicated...
Germany’s Producer Price Index Declined More-Than-Expected In October
For the 24 hours to 23:00 GMT, the EUR marginally declined against the USD and closed at 1.1077. On the macro front, Germany’s producer price index (PPI) fell 0.6% on an annual basis in October, more than market expectations for...
FOMC Minutes Revealed that Most Members Saw Current Rate Level as Appropriate
The FOMC minutes for the October meeting revealed that most members judged that the monetary easing was enough to support growth. However, they continued to see downside to the economic outlook. In October, the members voted to cut the Fed...
Stocks making the biggest moves after hours: Tiffany & Co., L Brands, Uber & more
Brent Lewin | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Tiffany & Co. jumped 4% during extended trading after a Reuters report that French luxury goods maker LVMH raised its bid from...
NZDJPY Consolidates Around Sturdy 50.0% Fibonacci Which Denies Advances
NZDJPY is in the process of pushing above the 69.75 restrictive level – which is the 50.0% Fibonacci retracement of the down leg from 73.23 to 66.30 – a point within a range of 70.02 to 68.93, which buyers have...
Sterling Slide Flatters Corbyn and Johnson
Thin air at highs accounts for sterling fall more than Corbyn’s debate performance Labour’s Jeremy Corbyn didn’t ‘lose’ the first big TV debate of the election campaign by a big enough margin. Hence the result pretty much qualifies as a...
GBPCAD Breaches Key Resistance in Effort to Maintain Bullish Picture
GBPCAD is pushing above a key resistance of 1.7133 from the swing high from May 29. The ascent, which commenced on August 9, is aided by the progressing bullish cross of the 50-day simple moving average (SMA) and the improving...
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