The US dollar fell against safe-havens and rose against other currencies on news about new tariffs on goods from China, with Australian dollar being the top loser among major currencies. The pair hit new eight-month low in extension of steep fall that lasts for eleven  straight days and shows loss of 3.5% so far. Bears were slightly slowed by…

WTI oil price is consolidating above new six-week low at $53.58, posted after nearly 6% fall on Thursday. Oil was already under pressure after hawkish Fed on Wednesday that boosted dollar and sold after President Trump’s tweet above more tariffs on Chinese goods that soured the sentiment and intensified existing fears of lower global demand on…

The pair falls further in early Friday’s trading and pressuring key short-term support at 106.78 (25 June low) following 1.31% fall on Thursday (the biggest one-day loss since 17 May 2017). Message from President Trump that the US would impose additional 10% tariff on $300B worth Chinese goods, shook markets and sparked strong demand for…

Cable is holding near new 31- month low at 1.2100, posted earlier today and awaiting news from BoE’s policy meeting today. Recovery attempt on Thursday stalled at 1.2249 and pound fell quickly after Fed cut rates in expected action but signaled no further easing in coming months that lifted dollar and pushed sterling lower again. Hawkish tone…

The Euro fell to the lowest levels in over two years against dollar in early Thursday’s trading, in extension of strong post-Fed fall on Wednesday, when the pair was down 0.72%. The single currency was hit by hawkish stance from the Fed, as the central bank cut interest rates by 0.25% as widely expected and for the first time in over a decade, but…

WTI oil price rose above important technical barrier at $58.62 (Fibo 61.8% of $60.96/$54.84 / daily cloud top) on Wednesday, extending advance for the fourth straight day. Oil price accelerated higher in late Tuesday, boosted by API crude stocks report which showed crude stocks fell by 6 million barrels, with fresh strength being sparked by better…

Eventual break and close below key supports at 5.5740 (Fibo 61.8% of 5.1595/6.2445 ascend) and 5.5649 (200DMA) generated strong bearish signal for deeper decline, in extension of downtrend from 6.2445 (2019 high). Bears eye psychological 5.50 support, with stronger bearish acceleration to open way towards Fibo support at 5.4156 (76.4% of…

The Euro showed mild reaction on a batch of data from the EU today, as upbeat German retail sales and slightly better than expected jobs data were offset by French and Spanish GDP, which came in line and slightly below expectations, while EU GDP was slightly better than expected, but inflation remains weak. The pair continues to trade within…