Gold Surges Through 1800 While Currencies Range Bound
Major forex pairs and crosses are staying inside yesterday’s range as trading turned subdued. US futures are nearly flat despite mild weakness in European markets. Europe majors are currently the strongest ones for the week, as led by Sterling. The...
EUR/JPY Analysis: Could Decline Today
The common European currency declined by 45 points or 0.37% against the Japanese Yen on Tuesday. The currency pair breached the 50– hour simple moving average during yesterday’s trading session. Most likely, the exchange rate will continue to decline within...
Commodity Currencies Weaken as Risk Rally Lost Momentum, Sterling Shrugs Brexit Deadlock
Australian Dollar weakens generally today and takes commodity currencies lower too. Risk-on markets have taken a halt this week, with some notably pullbacks in the US markets overnight. But Asian markets are just mixed. European majors are generally firmer for...
Asia Morning: U.S. Stocks Ease, Airline Shares Shed Over 5%
On Tuesday, U.S. stocks reversed course to the downside after a surge in the prior session. The Dow Jones Industrial Average fell 396 points (-1.51%) to 25890, the S&P 500 dropped 34 points (-1.08%) to 3145, and the Nasdaq 100...
Stocks making the biggest moves after hours: Levi Strauss, AMC, Disney and more
A person dressed as Minnie Mouse walks in front of the Disney store in Times Square as New York City moves into Phase 2 of re-opening during the coronavirus pandemic on June 28, 2020. Noam Galai | Getty Images Check...
Fed’s Mester says economic growth ‘leveling off,’ sees more help needed
Cleveland Federal Reserve President Loretta Mester said activity is slowing in her region due to rising coronavirus cases, and she sees more policy help necessary to help the economy through the pandemic. Speaking to CNBC in a live interview Tuesday,...
GBPCHF Yields Attempts to Halt the Decline
GBPCHF seems to have found a foothold on the 1.1760 level, that being the 38.2% Fibonacci retracement of the down leg from 1.2819 to the all-time low of 1.1109. The recent appreciation in price appears to have backing from the...
USDCNH Plunges to New 4-month Low
USDCNH plummeted to a fresh four-month low of 6.9947 earlier today after the strong bearish rally on Monday. The market is in the process to cover some of the losses, approaching the 50.0% Fibonacci retracement level of the up leg...
Investors Await UK “Mini-Budget”
Sunak to announce mini-budget UK Chancellor of the Exchequer Rishi Sunak is set to deliver a summer statement on Wednesday. The event, dubbed a ‘mini-budget’, will not have the impact or attract the widespread coverage as would an actual budget...
Sterling Regains Ground as Dollar Lacks Follow Through Buying
Markets are in mild risk-off mode today but losses are so far limited so far. Dollar attempts for a rebound but upside is so far limited. The greenback is somewhat outshone by Sterling, which is regaining so strength, in particular...
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