USD/JPY Steadies Above 103.50, EUR/USD Extends Losses
Key Highlights USD/JPY climbed higher above the 103.50 and 104.00 resistance levels. EUR/USD extended its decline below the 1.2150 support zone. Crude oil price consolidating gains, while gold price is still well below $1,900. The US Retail Sales figure (to...
Powell sees no interest rate hikes on the horizon as long as inflation stays low
Federal Reserve Chairman Jerome Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery. “When the time comes to raise interest rates, we’ll certainly do that, and...
Jobless claims surge to highest weekly total since August
First-time claims for unemployment insurance jumped to 965,000 last week amid signs of a slowdown in hiring due to pandemic restrictions, the Labor Department reported Thursday. The total was worse than Wall Street estimates of 800,000 and above the previous...
US Dollar Higher ahead of Powell
Another relatively mixed session on Thursday, with the US opening marginally higher ahead of the open as investors weigh up reported stimulus plans from the incoming Biden administration. While the promise of more Covid relief is good news for the...
Euro’s Decline Continues as Italy Yields Jump, Dollar and Yen Mixed
Euro’s broad based decline continues today, dragging down the Swiss Franc, and to a lesser extent Sterling too. Italy bench yield jumps sharply on increasing risk of fresh elections in the summer. On the other hand, commodity currencies continue to...
USD Tends to Gain as Yields Rise
The USD tended to gain against most of its counterparts yesterday as yields tended to rise fuelled by market expectations for President-elect Joe Biden’s plans for a massive fiscal stimulus. Biden is to provide details about his plan for trillions...
XAU/USD Remains Above 1,820.00
On Wednesday, the XAU/USD exchange rate bounced off the Fibo 23.60% at 1,860.59. Given that yellow metal is pressured by the 55– and 100-hour moving averages near 1,853.00, it is likely that some downside potential could prevail in the market....
USD/JPY Might Extend Gains
Yesterday, the USD/JPY currency pair raised to the 104.00 mark. It is likely that the exchange rate could gain support from the 55– and 100-hour moving averages near 103.95 and trade upwards in the nearest future. Note that the nearest...
Euro Falls Against Commodity Currencies, Dollar Mixed Despite Pull Back in Yields
Selloff in Euro against commodity currencies appear to be a main theme today, in otherwise mixed markets. Dollar seems not too bothered by the pull back in treasury yields overnight and stays generally inside last week’s range. Sterling is struggling...
Gold Price Could Recover To $1,900, GBP/USD Outperforms
Key Highlights Gold price found support near $1,815 after a sharp decline from $1,960. The price could face a strong resistance near $1,900 if it corrects higher. GBP/USD climbed higher and revisited the 1.3700 resistance zone. The US CPI increased...
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