July 24, 2020 7:02 am
GBP/USD kept steady near fresh six-week highs on Friday after a report by the UK Office for National Statistics showed retail sales had surged at a record monthly rate in June, far exceeding market expectations. Retail sales rose 13.9% in June from a month ago, following a revised up 12.3% increase in May. However, considering […]
Read moreJuly 23, 2020 10:57 am
GBP/USD maintained ground above the 1.2700 mark on Thursday, but traded within a relatively tight range as market players were expecting fresh news over any developments regarding EU-UK Brexit trade negotiations. Earlier this week reports emerged stating that the United Kingdom had abandoned hopes to sign a post-Brexit trade deal with the European Union, while […]
Read moreJuly 23, 2020 9:24 am
Futures on US West Texas Intermediate Crude Oil advanced for a fourth straight trading day on Thursday, but gains seemed limited after US crude oil stocks unexpectedly rose, indicating an impact from the accelerating COVID-19 pandemic on US fuel consumption. More than 15 million people worldwide have already been infected by the novel coronavirus, while, […]
Read moreJuly 23, 2020 7:11 am
AUD/USD rallied for a fifth straight trading day on Thursday and remained not far from yesterday’s 15-month high, but market players are now likely to stick to caution amid escalating tensions between China and the United States. China has until Friday to close its consulate in Houston on accusations of espionage, while US President Trump […]
Read moreJuly 22, 2020 11:30 am
Having touched a six-week high on Tuesday, GBP/USD distanced from that area on Wednesday, sliding below the 1.2700 mark, as reports in the media emerged hinting at a possible no-deal Brexit scenario. British Transport Secretary Grant Shapps said earlier Wednesday that the government wanted a free trade deal with the European Union, but still, the […]
Read moreJuly 22, 2020 9:38 am
With the US Dollar struggling near 19-week lows, Gold advanced for a fourth straight trading day on Wednesday, touching highs last seen in September 2011. “Gold is deriving strength from a broadly weaker dollar despite the improving market mood,” FXTM analyst Lukman Otunuga said. “The fundamental themes weighing on global sentiment remain intact, with rising […]
Read moreJuly 22, 2020 7:20 am
NZD/USD gained for a fourth straight trading day on Wednesday, touching highs not seen since early January, as a surge in investor risk appetite helped the pair overcome a major level of resistance (0.6600). The announcement of a “historic” EU deal on a EUR 750 billion stimulus plan continued to support risk-on mood. “The deal […]
Read moreJuly 21, 2020 11:37 am
GBP/USD extended gains from the prior two trading days and touched highs not seen in nearly six weeks during early European trade on Tuesday, as the announcement of a “historic” EU deal on recovery fund and positive news regarding COVID-19 vaccine trials bolstered risk-sensitive currencies such as the Pound. European Union leaders finally reached an […]
Read moreJuly 21, 2020 9:30 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day and hit a fresh 4 1/2-month high on Tuesday, as positive news regarding COVID-19 vaccine trials and an EU deal on a EUR 750 billion recovery fund lifted prospects for fuel demand. AstraZeneca and Oxford University said yesterday their novel […]
Read moreJuly 21, 2020 7:02 am
AUD/USD gained for a third straight trading day and touched a fresh six-week high on Tuesday as a fiscal stimulus announcement in Europe buoyed global risk sentiment, supporting currencies such as the Aussie and the kiwi. European Union leaders finally reached an agreement on a EUR 750 billion stimulus plan for their coronavirus-ravaged economies after […]
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