Extension above 1.11 eyes key Fibo barrier at 1.1166
The Euro broke above 1.11 barrier, in extension of strong four-day rally and hit new two-month high at 1.1138 on Friday.
Weak dollar and fresh optimism that post-pandemic recovery will pick up, continue to boost risk mode and push single…
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Traders move into safe-haven ahead of President Trump’s speech on China
The dollar was sold in Asia / early Europe on Friday ahead of President Trump’s speech on China, due later today, as rising tensions over Hong Kong and fears of US reaction prompted investors into safe haven yen.
The pair was down nearly…
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Dollar index extends weakness as better than feared US data boost risk appetite
The dollar index extends weakness to new two-month low on Thursday as markets hold in risk-on mode as less bad than feared US jobless claims and durable goods data partially offset negative impact from GDP data which showed that suggest…
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Oil remains in defensive after 5.7% drop on surprise crude stockpiles build
WTI oil consolidating on Thursday after falling 5.7% previous day (the biggest one-day drop since 27 Mar).
Oil price was hit by unexpected and strong build in US crude stockpiles (API report on Wednesday showed 8.7 million barrels rise…
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Optimistic fundamentals prevent deeper pullback for now
The Aussie remains bid ion Thursday despite double failure at 200DMA (0.6657), underpinned by fresh optimism that economic downturn over pandemic lockdown may be less severe than feared.
This so far fades negative signals on…
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Sterling remains pressured by Brexit trade talks uncertainty and risk of negative rates
Cable remains in defensive mode in early Thursday, following previous day’s fall that retraced the largest part of Tuesday’s strong rally.
Today’s action is holding within narrow range and in thin daily cloud, but pressures cloud base…
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Bulls continue to face strong headwinds at 200DMA
The Euro is holding within 1.10 zone in European session on Thursday after hitting new, marginally higher high (1.1035) in nearly two months.
Bulls failed to close above 200DMA (1.1009) on Wednesday, despite spike to 1.1030, signaling that…
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