USD Index Outlook: Dollar Index Hits New 2020 Low
Pressure on dollar is rising as bears eventually cracked key short-term support at 94.59 (2020 low, posted on 9 March). Steep fall of past six days points to bearish acceleration, as the index is heading towards sixth consecutive week in...
USD/CAD Steady ahead of Manufacturing PMI
It has been a sleepy Friday for USD/CAD. Currently, the pair is trading at 1.3425, down 0.13% on the day. There are no Canadian events on the schedule. US Manufacturing PMI eyed US manufacturing has been hit hard in the...
European Majors Supported By Strong PMIs, Risk Aversion Continues
Yen and Swiss Franc are trading as the strongest ones for today as stock markets are weighed down by escalating US-China tensions. Though, negative sentiments in Europe was partly offset by much stronger than expected Eurozone and UK PMIs. Signs...
AP-NORC poll: Optimism fades jobs lost to virus will return
Nearly half of Americans whose families experienced a layoff during the coronavirus pandemic now believe those jobs are lost forever, a new poll shows, as temporary cutbacks give way to shuttered businesses, bankruptcies and lasting payroll cuts. It’s a sharp...
WTI OIL Outlook: Oil Prices Remain Supported By Weak Dollar But Rising US/China Tensions Weigh
WTI oil price regained traction and bounced from $40.70 to the session high at $41.64 in European trading on Friday, recovering a part of previous day’s drop. However, the price action remains in a choppy mode and holding in range,...
XAU/USD Outlook: Bulls Are Consolidating Before Final Attack At All-Time High At $1920
Spot gold maintains firm bullish tone and holding just below new multi-year high ($1898) and round-figure $1900 barrier on Friday. The metal is heading for the biggest weekly gains since the last week of March, as weakening dollar and inflation...
EUR/JPY Two Scenarios Likely
The common European currency has declined by 81 points or 0.65% against the Japanese Yen since Thursday’s trading session. The currency pair tested the 100– hour simple moving average at 123.35 on Friday morning. If the 100– hour SMA support...
USD/CAD Could Edge Higher
The US Dollar declined by 73 points or 0.55% against the Canadian Dollar during the first half of yesterday’s trading session. However, the currency pair regained some of the position at the day. As for the near future, bullish traders...
NZD/USD Tests 100– Hour SMA
The New Zealand Dollar has declined by 65 points or 0.97% against the US Dollar since Thursday’s trading session. The currency pair tested the 100– hour SMA at 0.6623 on Friday morning. If the support level formed by the 100–...
EUR/USD Consolidates Near 1.1620
On Thursday, the EUR/USD currency pair tested the 1.1620 level. During today’s morning, the pair consolidated near the given level. It is likely that exchange rate could gain support from the 55-hour SMA near 1.1580, and some upside potential could...
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