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

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: 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

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