Sterling falls to two-week low vs Euro as sentiment sours further
The cross jumped nearly 1% in European trading on Tuesday, as pound’s sentiment weakened.
Rising coronavirus death toll in UK and signals that lockdown will extend for at least three more weeks, add to negative mood, along with UK jobs…
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June WTI oil drops below $20 and keeps firm negative tone after May’s contract made historical…
WTI oil future contract for June delivery fell below $20 on Tuesday, following Monday’s 14% fall after May contract dropped below zero and reached minus $40 per barrel at one moment, in a historical movement, never seen since the contract…
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Cable may extend pullback on close below 20DMA, weighed by weak UK jobs data / stronger dollar
Cable remains at the back foot on stronger dollar and extended weakness to the lowest since 9 Apr to pressure rising 20DMA (1.2382) in early European trading on Monday.
UK jobs data showed that employment growth slowed in March, average…
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Near-term risk shifts lower after repeated upside rejections
The Euro edges lower in early Tuesday’s trading and probes again through cracked Fibo support at 1.0831 (61.8% of 1.0635/1.1147 upleg) after Monday’s action was repeatedly capped by 10DMA / broken bull-trendline drawn off 1.0635 low.…
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Breaking: WTI Oil price turns negative for the first time in history
WTI oil for May delivery fell into negative territory for the first time in history in late US trading on Monday.
Since WTI contract began trading on the NYMEX exchange in April 1983, the lowest it had ever gotten to before this was $9.75…
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Cable eases on Monday but remains within three-day range and without clear near-term direction
Cable edged lower on Monday, pressured by rising coronavirus death toll and no signs of any easing of the lockdown.
The pair is currently holding at the lower side of congestion that extends into third day and probes below rising 10DMA…
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Near-term action to remain biased lower while recovery attempts are limited
The pair is trading within a range that extends into third straight day and moving around broken Fibo level at 107.69 (38.2% of 101.18/111.71).
Directionless near-term mode is supported by flat daily momentum and RSI, but a cluster of…
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Limited recovery warns of fresh weakness
EURUSD
The Euro holds in directionless, 25-pips range on Monday, with attempts to extend last Friday’s recovery remaining capped by 1.0891/99 (broken Fibo 50% of 1.0637/1.1147 ascend, reinforced by converged 5/10DMA’s and broken…
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Current correction seen as positioning as gold remains top safe-haven asset
Spot gold edged lower on Monday despite fading risk sentiment and hit one-week low but so far unable to clearly break pivotal double-Fibo support at $1678 (23.6% $1455/$1747 and 38.2% of $1567/$1747).
Overall picture remains bullish with…
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WTI oil in free fall, hits the lowest since 1999
WTI oil future contract for May accelerated lower in early Monday’s trading and hit the lowest since 1999 on over 16% fall during Asian / early European trading.
The sentiment remains very weak and traders continue panic selling…
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