Downbeat German data add to negative outlook as bears crack key Fibo support
The Euro fell further and hit the lowest since 2 Dec on Monday, in extension of steep fall last Thu/Fri (down 0.6%).
Downbeat German Ifo business climate index (Jan 95.9 vs 97 f/c and 96.3 in Dec), released earlier today, added to…
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Safe-haven yen rises further on coronavirus fears
The pair opened with gap-lower on Monday and fell to the lowest since 8 Jan on rising risk aversion as death toll on corona virus in China rises.
Safe-haven yen extends its strong advance (up 0.74% last week) in such environment, with…
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Yen strengthens again on China virus risk-off mode
The pair weakened in early US trading on Friday, reducing hopes of stronger recovery, after strong downside rejection on Thursday signaled formation of bear-trap on Fibo support at 109.28 (38.2% of 107.65/110.29).
Downbeat US Jan…
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Oil prices returned to red after brief correction as fears of virus spread affecting demand weigh…
WTI oil price returned to red on Friday after brief recovery from new eleven-week low ($54.77) stalled just under $56 mark.
Technical studies on daily chart remain firmly bearish and add to negative sentiment on rising fears that spreading…
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Sterling eases despite upbeat UK PMI data as traders collect profits
Cable jumped to two-week high (1.3174 after release of much better than expected UK PMI data, but gains were short-lived as traders took profits from longs in past four days and sent the pair to session low at 1.3085.
The sentiment…
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Euro holds in red after dovish ECB but bears may pause for consolidation
The Euro remains in red and consolidating above new seven-week low on Friday, after being hit by dovish ECB.
Thursday’s 0.3% fall resulted in eventual break of key supports at 1.1079/70 (Fibo 61.8% of 1.0981/1.1239 / daily cloud base /…
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Oil price slumps on rising fears over fuel demand on China virus spreading
US CRUDE OIL
WTI oil price slumped to eleven-week low on Thursday, extending steep fall into fourth straight day, after coming under increased pressure on rising concerns that spreading virus in China may have stronger impact on demand.…
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Balanced tone from ECB chief Lagarde keeps the euro at familiar levels for now
The Euro refrained from stronger reaction on comments from ECB President Christine Lagarde, with spike above 1.11 handle on remark pointing to moderate increase in inflation, being short-lived.
Lagarde’s comments on press conference were…
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Swiss franc returns to strength, signaling that SNB’s intervention was so far rhetoric
The Swiss franc regained traction and strengthened on Thursday after corrective action from 0.9612 (16 Jan low, the lowest since Sep 2018) was strongly rejected on Wednesday at 0.9728 (falling daily Kijun-sen) that faded hopes in the market…
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Bulls pause after strong rally, awaiting UK PMI data for fresh signals
Cable eases after three-day rally which repeatedly failed under pivotal Fibo barrier at 1.3158 (61.8% of 1.3284/1.2954).
Wednesday’s 0.7% advance marks the biggest one-day rally since 31 Dec, fueled by better than expected data (CBI…
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