Miroslav Marinoff | Trading Pedia

Forex Market: GBP/USD rebounds as risk sentiment improves, UK consumer inflation unexpectedly rises in June

July 15, 2020 11:38 am

GBP/USD rebounded on Wednesday, moving back above the 1.2600 mark, as the US Dollar retreated due to improved risk sentiment following news of progress in development of a potential COVID-19 vaccine. The Pound also benefited from a surprisingly upbeat UK CPI inflation report, released earlier Wednesday. Several news media reported that Moderna Inc’s experimental COVID-19 […] Read more

Commodity Market: US Crude Oil extends gains ahead of OPEC’s JMMC meeting outcome, API reports sharp decline in oil inventories

July 15, 2020 9:21 am

Futures on US West Texas Intermediate Crude Oil extended gains from a day ago on Wednesday, after a report by the American Petroleum Institute (API) showed the largest drop in crude oil inventories in 11 months, while markets awaited the outcome from a meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ later in […] Read more

Forex Market: AUD/USD hits a fresh one-month high as COVID-19 vaccine hopes, macro data boost investor risk appetite

July 15, 2020 6:56 am

AUD/USD extended gains from the prior trading day and touched a fresh one-month high in early Asian session on Wednesday, as news of progress in development of a potential coronavirus vaccine and upbeat US CPI inflation numbers fueled demand for risk-sensitive currencies such as the Aussie. Reports emerged that Moderna Inc’s experimental COVID-19 vaccine had […] Read more

Forex Market: GBP/USD falls to a one-week low as UK annual GDP shrinks more than expected in May

July 14, 2020 10:47 am

GBP/USD extended losses from the previous trading day and touched a fresh one-week low in early European trade on Tuesday after a report by the UK Office for National Statistics showed a larger-than-anticipated GDP contraction in May. Annual Gross Domestic Product shrank 24.0% in May, or at the second sharpest pace on record, following a […] Read more

Commodity Market: Gold slips from resistance area, but geopolitical tensions, virus spread may limit losses

July 14, 2020 9:20 am

Having faced strong resistance in the area near July 8th high ($1,818.09) during the past several trading days, Gold briefly eased below the $1,800 mark on Tuesday as the US Dollar regained strength, making the yellow metal costlier for holders of other currencies. Still, geopolitical tensions and worsening COVID-19 situation in the United States and […] Read more

Forex Market: NZD/USD extends earlier losses as US-China diplomatic tensions, worsening COVID-19 crisis undermine risk sentiment

July 14, 2020 7:11 am

NZD/USD extended losses from the prior trading day on Tuesday, as frictions between the United States and China on several fronts as well as surging new COVID-19 cases dampened demand for risk-sensitive currencies such as the kiwi dollar. Diplomatic relations between Beijing and Washington have worsened. The United States is moving closer to end Hong […] Read more

Forex Market: GBP/USD once again encounters resistance at 1.2670 at the start of a data-laden week

July 13, 2020 11:56 am

GBP/USD encountered resistance at 1.2670, or the area near the high from June 16th, for a third straight trading day on Monday, beginning what is going to be a macro data-laden week. The US Dollar lost its safe haven allure and risk-sensitive currencies advanced over the past week on investor bets the worst of the […] Read more

Commodity Market: US Crude Oil retreats nearly 2% as markets expect an easing in oil supply cuts at upcoming OPEC+ meeting

July 13, 2020 9:17 am

Futures on US West Texas Intermediate Crude Oil retreated almost 2% on Monday, paring gains achieved on Friday, as market players awaited a technical meeting by OPEC at which oil supply reductions are expected to be eased. The Ministerial Monitoring Committee, OPEC+’s production oversight group, will meet on July 14th and 15th to assess each […] Read more

Forex Market: AUD/USD gains on coronavirus vaccine hopes, US-China tensions may limit upside

July 13, 2020 7:20 am

AUD/USD looked set to snap a two-day streak of losses and traded not far from last Thursday’s one-month high during early European session on Monday, as hopes of a potential COVID-19 vaccine seemed to have offset concerns over the spread of the illness, reducing the haven appeal of the US Dollar. Last Friday Gilead Sciences […] Read more

Forex Market: GBP/USD slips from three-week highs, but still set for second week of gains in a row

July 10, 2020 11:45 am

GBP/USD came off Thursday’s three-week highs and steadied just above the 1.2600 mark in late European trade on Friday, as the recent dollar rally seemed to have paused. The Pound and other risk-sensitive currencies fell overnight as concerns over the accelerating coronavirus spread across the United States and a new surge in infections in some […] Read more