GBP/JPY stays firmer around two-week top amid bullish MACD. 13-day-old horizontal area guards immediate upside ahead of the early month’s multi-day high. One-week-long support line, key SMAs restrict short-term downside. GBP/JPY wavers around 152.15-20, up 0.33% intraday, ahead of Wednesday’s London open. In doing so, the pair attacks the key horizontal resistance that holds the
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Atlanta Federal Reserve President Raphael Bostic said on Tuesday that he does not anticipate the Federal Reserve will have to do much in response to rising US Treasury bond yields, as reported by Reuters. “Bankers are saying that credit market risk is low with repayment far better than expected when the pandemic began,” Bostic further noted.
AUD/USD trims intraday gains, stays below key hurdles. Fortnight-old horizontal area, monthly resistance line test recovery moves. Bears need to break 0.7557 for confirmation, monthly top adds to the upside barriers. AUD/USD steps back from 0.7664 while trimming intraday gains to 0.24% ahead of Tuesday’s European session. In doing so, the quote fades upside momentum
EUR/USD has continued to struggle to get close to the 1.1800 level, with gains petering out around the 1.1790 area. Continued concerns about lockdown and the Coivd-19 pandemic in the Eurozone mean that it is unsurprising to EUR struggle. EUR/USD has continued to struggle to get close to the 1.1800 level, with gains petering out
EUR/USD is on the defensive as the DXY holds ground amid risk-aversion. Macro-economic divergence continues to weigh on the common currency. The spot to remain at the mercy of the USD dynamics amid a quiet start. The recovery attempts in EUR/USD remain capped below 1.1800, as the traders remain on the defensive starting out a holiday-shortened US
What you need to know on Monday, March 29: The American dollar eased on Friday but finished the week with gains against most major rivals. Stocks were up, weighing on demand for the greenback, also affected by profit-taking ahead of the close. The EUR/USD pair finished the week sub-1.1800, and near its 2021 low at
Spot gold continues to stick within a few dollars of its 21-day moving average within a tight mid-$1720s-mid-$1740s range. The precious metal has been caught this week between the conflicting forces of a strong USD but lower real yields. Spot gold prices (XAU/USD) continue to stick within a few dollars of its 21-day moving average,
US equity markets saw an aggressive rally into the Friday close, with the S&P 500 now back close to ATHs. US data was largely ignored, with investors reverting to default bullishness on the prospects for the US economic recovery. US equity markets were seemingly panic bought into Friday’s close, with the S&P 500 rallying nearly
Inflation concerns fade as Fed officials stay with the dovish theme. Oil takes flight as the Suez remains blocked. Stocks close out the week in the green but big tech struggles. Equities close nicely on Friday to cap a solid week of gains for the broader indices. The S&P 500 finished the week ahead by
Gold has been drifting higher as the market mood improves and US Treasury yields play a more limited role in determining the market direction. The precious metal is able to shine while other commodities are under pressure – concerns of a slow exit from the covid crisis have resurfaced. How is XAU/USD positioned on the
Cooperation between NATO and the European Union (EU) was more important than at any time, US Secretary of State Antony Blinken said in a statement on Thursday. “I came here very much with one particular focus in mind, and that was to make clear the United States’ determination to revitalize our alliances and partnerships,” Blinken said. Meanwhile,
EUR/USD struggles for direction around the 1.18 area. The dollar remains on the positive path and records 2021 highs. US final Q4 GDP came in at 4.3% QoQ, surpassing consensus. The single currency stays well on the defensive and drags EUR/USD to fresh YTD lows in sub-1.1800 levels on Thursday. EUR/USD in 4-month lows EUR/USD
GBP/JPY gained some positive traction on Thursday and snapped five days of the losing streak. A combination of factors lifted the global risk sentiment and undermined the safe-haven JPY. The GBP benefitted from a modest USD pullback and provided an additional boost to the cross. The GBP/JPY cross edged higher during the Asian session and
Spot silver is higher on Wednesday despite a stronger US dollar, likely as a result of profit-taking. XAG/USD prices bounced at the $25.00 level and currently trade nearly 5.0% lower on the week. Despite an ongoing pick up in the fortunes of the US dollar on Wednesday spot silver prices (XAG/USD) are holding up fairly
WTI retreats towards six-week low flashed the previous day. Fears of US-China trade war join geopolitical and virus-led downbeat sentiment. API marked oil inventory build, EIA stockpile eyed. US dollar moves and risk catalysts will be important to watch. WTI fades recovery moves from early February low while easing to $57.60 amid Wednesday’s Asian session.
Gold Price Analysis: XAU/USD chopping either side of its 21DMA in mid-$1730s Spot gold (XAU/USD) prices have been choppy and recently fell back towards this week’s lows around $1730, with prices having been buffeted by the conflicting forces of falling US bond yields against a strengthening US dollar. Spot prices thus continue to trade well
Silver takes offers around intraday low, drops for the second consecutive day. US dollar picks up bids as bond bears return, market turns cautious ahead of the key events. Silver stays depressed near the intraday low of $25.59, down 0.54% on a day, during early Tuesday. While Turkish action and strong equities weighed on the
AMC shares are up over 500% in 2021. The cinema leader has been boosted by sentiment not reality. The meme stock is trading at a lofty multiple for such an enormous debt pile. AMC shares have been one of the major trends of the US stock market so far this year, after experiencing stratospheric appreciation. AMC