FX

USD has been strongly supported on what has shaped up to be a very much risk-off Friday. DXY has broken above a key downtrend and eyes a move towards 91.00. USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD

US equity markets closed Friday in the red, the second day of losses in a row. Friday saw quintessential risk-off trade; risk assets sold off and havens were bought on a variety of concerns. US equity markets closed the final trading day of the week in the red, the second day of losses in a row.

  ·         European indices lower FTSE -0.74%, DAX -1%, Euro Stoxx -0.6% ·         US stock futures lower Dow -0.52% S&P -0.41% Nasdaq -0.51% ·         US Core PPI 1.2% versus 1.4% expected. US: Annual Core PPI edges lower to 1.2% in December vs. 1.4%

Gold Price Analysis: Bears testing bullish commitments at 200 dma Gold flirting with the 200-DMA as markets await Biden’s rescue plan. Further to the prior analysis, Gold Price Analysis: XAU/USD’s recovery at odds with the US dollar’s daily chart, the price of gold remains anchored. Rising rates continue to place a wet towel on gold

Spot silver has seen significant volatility in recent trade, though no fundamental news has caused this. Prices are up despite a stronger USD and was unaffected by underwhelming US jobless claims data. Market focus now turns to Fed Chair Powell and Biden’s fiscal stimulus announcement. Spot silver (XAG/USD) prices have seen significant upside in recent

GBP/USD Price Analysis: Bulls taking charge above critical long-term support structure GBP/USD setting up for a bullish continuation above monthly support. The 4-hour resistance needs to be overcome first. Bulls are now up through the monthly resistance. However, there is room for a significant retest of the new support structure, so the upside could well

WTI prices comes under pressure and loses the $53.00 mark. The API reported a 5.8 million barrel drop late on Tuesday. The EIA’s weekly report on crude supplies comes up next. The 2021 rally in crude oil prices remains well and sound for yet another session, with prices of the WTI trading at shouting distance

Analysts at HSBC are skeptical about the sustainability of the US dollar’s recent bounce, which has been supposedly fueled by the rise in Treasury yields. The 10-year yield rose to a 10-month high of 1.18% on Tuesday.  “The most recent relationship between the currency and risk appetite as measured by the S&P 500, is stronger

USD/CHF is moving sideways near 0.8900 on Tuesday. US Dollar Index stays flat on the day near 90.50. 10-year US T-bond yield is rising for the sixth straight day. The USD/CHF pair gained nearly 50 pips on Monday and climbed to a 10-day high of 0.8921. With the financial markets turning subdued in the absence

The dollar index hits multi-month highs above 90.50.  The US Treasury yields rise, crowding out dollar shorts. The dollar index looks set to challenge an SMA hurdle. The dollar index (DXY), which tracks the greenback’s value against majors, looks north as US Treasury yields rise, shaking out elevated shorts.  The 10-year yield has jumped to

Bank of England (BoE) policymaker Silvana Tenreyro said on Monday that it’s possible more stimulus, at an appropriate pace, will be needed, as reported by Reuters. Additional takeaways “BoE work on the feasibility of negative rates still in progress, I have nothing new to add to this.” “If that is the case, having negative rates in our

EUR/CAD is on the backfoot but dynamic support could play a role in a bullish correction. Bears will target a downside extension from the daily W’s neckline resistance area.  EUR/CAD on the brink of an upside rejection according to the daily chart’s structure. The following is a top-down analysis that supports a bullish bias for

Here is what you need to know on Monday, January 11: The greenback advanced on Friday despite a disappointing Nonfarm Payroll report, as job losses spurred speculation that more fiscal stimulus is in the docket. President-elect Joe Biden called for immediate further fiscal support, including increased direct payments of $ 2,000. The dollar gains were

EUR/USD briefly dropped below 1.2200 in recent trade but has since recovered back to trade in the 1.2220s. EUR/USD has broken below a short-term upwards trend channel that had been in play since December 2020. EUR/USD briefly dropped below the 1.2200 level in recent trade, a move that coincided with the Dollar Index (DXY) rising

Gold (XAU/USD) wilted on Friday as Treasury yields surged on strengthening risk-on flows amid expectations of higher fiscal stimulus under Biden’s presidency. Prospects of a smooth transition of power in Washington eased political uncertainty, which further added to the weight on the safe-haven gold. The metal lost $70 and touched three-week lows at $1828.62 before

Friday saw the S&P 500 and Nasdaq 100 hit and close at all-time highs. “The market is now anticipating a massive amount of stimulus, a CARES act part two and a massive infrastructure program”. A downbeat jobs report for December was broadly ignored, with the market “living in the future”. Friday saw the S&P 500

Employment in Canada fell more than expected in December. USD/CAD pushes higher toward 1.2700 after the data. Employment in Canada declined by 62,600 in December, compared to analysts’ estimate of 27,500, and the Unemployment Rate ticked up to 8.6% from 8.5% in November as expected, Statistics Canada reported on Friday. “As more provinces adapted their

US dollar index picks up bids after clearing short-term key resistance line, 200-HMA. MACD dwindles on the way to key Fibonacci retracement levels. US dollar index (DXY) rises to 90.02, currently up 0.13% around 89.95, during early Friday. The greenback gauge crossed a downward sloping trend line from December 22 the previous day while struggling