Another build in US crude stocks pressures oil price further
WTI oil extends weakness into second straight day and cracked $39 support after release of US crude stocks data on Thursday.
The oil price falls further as bulls stalled after hitting new 3 ½ month high ($41.61) on Tuesday.
Rising…
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Gold hits new 8-year high as investors move into safety on fears of the second wave of virus
Spot gold extended advance into fourth straight day and hit new highest level in nearly 8 years ($1779) on Thursday.
Growing fears of the second wave of Covid-19 pandemic prompt traders into safety, while talks about new stimulus measures…
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Dollar rises as fears of the second wave of virus sour risk sentiment
The dollar regained traction on Thursday, as fears of the second wave of Covid-19 eventually tempered optimism about global post-pandemic recovery, with positive impact on risk sentiment from upbeat German business climate data also being…
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Bulls face headwinds at key resistance zone
Cable pulls back from new one-week high (1.2542) and dips below 1.2500 in early European trading on Wednesday as bulls faced headwinds from strong resistance zone at 1.2517/42 (10 DMA / Fibo 38.2% of 1.283/1.2335 / 20DMA).
The pair was…
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Euro stands at the front foot ahead of German data, but weak momentum requires caution
The Euro holds positive tone for the third consecutive day and trading above 1.13 mark in early Wednesday, following Tuesday’s close above this barrier.
Risk sentiment on rising optimism of global economic recovery, talks about further US…
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Recovery loses traction despite upbeat PMI numbers
Cable probed briefly above 1.2500 level and hit session high at 1.2512, in immediate reaction to upbeat UK PMI data, but subsequent quick easing signaled that recovery faces strong headwinds.
Data showed significant improve in…
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