News of further production cut maintain optimism but fears of fresh corona infections weigh
WTI oil rose $1.5 on Monday after Saudi Arabia announced that it will further reduce the output by one million bpd.
Oil price holds in green for the second day and fresh advance signals that shallow pullback from new recovery high ($26.71)…
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Short squeeze could extend to key barriers
Dollar advances vs yen on Monday, holding in green for the third straight day and penetrating deeply into daily cloud (106.70/107.88) which marked strong resistance.
The greenback enjoys support from many countries re-opening after…
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Bulls are consolidating after failure on initial attack at key barriers
The Australian dollar pulls back from new monthly high at 0.6561 hit in Asian trading on Monday, as bulls face headwinds and unable to clearly key barriers provided by falling 100DMA (currently at 0.6534) and 30 Apr high at 0.6569.…
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WTI oil is on course for the second weekly bullish close despite recovery stall
WTI oil traded in a bumpy mode within nearly $2 range on Friday, as fresh upside attempts after larger recovery stalled and past two days ended in red, were short-lived.
Oil price is trying to regain traction after terrible US jobs data,…
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Better than feared us labor data inflate dollar
Dollar rose across the board after US jobs data showed better than markets feared results in April.
Non-farm payrolls and unemployment came below horrific forecasts (which showed expectations for the worst situation in jobs sector since…
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Cable stands at the front foot ahead of US jobs data
Cable is standing at the front foot in European trading on Friday after Thursday’s action ended in Doji candle and signaling that four-day fall might be running out of steam.
The lower 20-d Bollinger band contained fall and fresh upside…
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Bears expected to keep control as long as price holds below converged 10/20DMA’s
The Euro returned to weakness after late Thursday/ early Friday recovery stalled on approach to pivotal barrier at 1.0863 (converged 10/20DMA’s).
Strong demand for dollar as traders look for safety on deepening crisis, keeps the single…
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Turkish lira falls to new all-time low vs dollar
Turkish lira fell to new all-time low against dollar on Thursday, following strong sell-off as traders got disappointed by comments from Fed policy maker, which were interpreted as ruling out a Fed swap line to cushion the negative impact…
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