July 20, 2020 9:28 am
Gold held firm above the $1,800 mark during Monday’s European trade, as the spread of the novel coronavirus and concerns over its impact over global economic recovery kept the precious metal supported. “There’s no doubt that we are in the medium-term uptrend for gold. It appears that there’s a segment of the investment community that […]
Read moreJuly 20, 2020 7:10 am
NZD/USD has faced strong resistance in the area just below the 0.6600 mark since early July, with the daily chart visualizing the formation of a possible Double Top, marked by the high from June 10th (0.6585) and the high from July 9th (0.6601). The daily chart also showcases a bearish divergence between NZD/USD exchange rate […]
Read moreJuly 17, 2020 11:32 am
GBP/USD remained mostly stable in late European trade on Friday, but was set to register its sharpest weekly loss in one month, as uncertain macroeconomic outlook, arduous Brexit negotiations as well as Britain’s highest COVID-19 death toll in Europe have all mounted pressure on the Pound. As the UK economy rebounded at a considerably slower […]
Read moreJuly 17, 2020 9:20 am
Futures on US West Texas Intermediate Crude Oil extended losses on Friday, as global fuel demand recovery remains uncertain amid the accelerating spread of the novel coronavirus in countries such as the United States, India, Spain and Australia. At the same time, oil producers prepare to ease record supply cuts from next month. The United […]
Read moreJuly 17, 2020 7:07 am
Having failed to hold above psychological 0.7000 level on several occasions since the start of July, AUD/USD traded within a narrow range just below that mark on Friday, but was still set to register its fourth straight week of gains. The US Dollar held gains against the majority of its peers overnight, after the United […]
Read moreJuly 16, 2020 11:28 am
GBP/USD retreated on Thursday despite an unexpected drop in UK jobless claims in June, as mixed macro data from China failed to support investor risk sentiment, while boosting the greenback. Earlier Thursday China reported a faster-than-expected GDP growth during the second quarter, 3.2% year-on-year. However, retail sales unexpectedly shrank at an annualized rate of 1.8% […]
Read moreJuly 16, 2020 9:31 am
Gold eased from Wednesday’s one-week highs on Thursday, as prospects of a COVID-19 vaccine prompted investors to trim their safe haven bets. Earlier this week Moderna Inc’s novel coronavirus vaccine showed promising results from its early-stage trials. The vaccine triggered immune responses in all 45 healthy volunteers, the company’s research team told the New England […]
Read moreJuly 16, 2020 7:07 am
NZD/USD retreated on Thursday, as mixed Chinese and domestic macroeconomic data did not support a move beyond the psychological 0.6600 level. China, New Zealand’s largest trading partner, reported a faster-than-expected GDP growth during the second quarter, 3.2% year-on-year. However, retail sales unexpectedly shrank at an annualized rate of 1.8% in June, which marked the sixth […]
Read moreJuly 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 moreJuly 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 […]
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