Risk Aversion on Virus Variant, King Dollar, Brexit
A new faster strain of COVID-19 is triggering risk aversion across the board. Thin market conditions are making today’s selloff look more like panic selling. US stocks are down sharply despite a breakthrough from Congress on a USD900 billion pandemic...
Renewed Coronavirus Worries Prompt Risk Aversions, Dollar Rebounds
European markets open the week in heavy selloff on worries over a new strain of coronavirus discovered in the UK, which was seen as “out of control” by the Health minister. At the time of writing, DOW future is also...
Crude Oil Plunges on New Coronavirus Strain
Another negative issue for the oil appeared today, a new coronavirus strain, which was announced found by the World Health Organization in the Netherlands, Denmark, and Australia. This information elevates risks that the coronavirus pandemic might not be “beaten” soon...
Pound Weakens As Negotiations Miss Another Deadline
The pound weakened against the USD, EUR,CHF and JPY, opening with a negative gap during today’s Asian session, as negotiations about Brexit missed another deadline yesterday, while at the same time the mutated coronavirus in the UK intensifies worries. EU-UK...
EURGBP Set To Give Up Some Ground After Sharp Rebound
EURGBP is retracing the sharp increase that followed the positive large-gap open earlier today after failing to extend gains beyond 0.9200. The price has significantly stretched above the upper Bollinger band and the RSI is set to exit the overbought...
European stocks set to open lower amid jitters over new coronavirus strain
European markets are set to trade lower on Monday as investors monitor a fast-spreading new variant of the coronavirus strain that has shut down much of the U.K. Britain’s FTSE 100 was seen opening down by 75 points at 6,442,...
Sterling Dives Again on Brexit Deadlock and Coronavirus Spread
Sterling opened the week broadly lower after Brexit trade negotiations missed yet another deadline. Additionally, European countries rushed to ban travel from UK as coronavirus infections worsened. Aussie and Kiwi are trailing as the next weakest on mild risk aversion....
EUR/USD Sets New 2020 High, Oil Inches Towards $50
Key Highlights EUR/USD surpassed 1.2000 and traded to a new 2020 high at 1.2272. A major bullish trend line is forming with support near 1.2180 on the 4-hours chart. Gold price rallied towards $1,900, and crude oil price is approaching...