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EUR/USD Forecast: Euro Gaps Up, Sluggish at Day's End

The euro gapped higher to kick off the year, showing signs of strength, and then took right off to slam into the 1.23 level by midday. That is an area that has been resistance more than once, and the fact that we sold off from there is a bit telling as we have formed a very ugly candlestick for the

Gold Soars, Oil Pared Back, Bitcoin Wobble

Oil pares gains as lockdowns become more severe New and extended lockdowns may be taking their toll on broader risk appetite today and it may have taken the edge off oil prices which appeared to be continuing their impressive late 2020 run into the new year. The lockdowns are becoming more severe wh

AUD/USD: Excellent buying opportunity at 0.7570

AUD/USD – NZD/USD AUDUSD saw a correction yesterday as predicted & we bottomed exactly at ourbuying opportunity at 7640/30. The bearish engulfing candle is another negativesignal, although we are seeing a recovery over night for a 60 pip profit on our longs. NZDUSD broke support at 7575/70 but m

GBP/USD stabilises above lows as PM Johnson confirms England lockdown

GBP/USD saw little reaction when the UK PM confirmed earlier government leaks that England will enter a stricter lockdown. Prices are currently consolidating just above the 1.3550 mark after a day of steep losses. GBP/USD has flatlined just above lows of the day just under 1.3550 set midway through

S&P 500 slumps more than 2% following another record open

The S&P 500 has dropped more than 100 points from all-time intra-day highs set shortly after the open. Markets are taking risk off the table ahead of risk events later in the week. Following another record open for the S&P 500, which saw the index hit all-time intra-day highs at 3770, the S&

S&P 500 starts 2021 at new all-time high near 3,770

Wall Street's main indexes started the new week on a firm footing. S&P 500 Energy Index posts strong gains after the opening bell. Major equity indexes in the US opened in the positive territory on the first trading day of 2021 but seems to be struggling to gather further bullish momentum. As of

European Shares Rally On Recovery Hopes

European stocks opened on an upbeat note on Monday as the new EU/UK trade deal regulations came into force over the weekend and the U.K. began the Oxford/AstraZeneca vaccine rollout, making another step in the global battle against the pandemic. Sentiment was also boosted after a survey showed activ

EXPLAINER-How investors view the Georgia U.S. Senate runoff

NEW YORK, Jan 4 (Reuters) - Investors have been weighing a major political unknown since the November election that could ripple through asset prices: control of the Senate. A flip to Democrat control could put more pressure on the dollar and spark Treasury debt yields higher, while Republicans keep

China's Dec factory activity moderates, higher costs hit firms

BEIJING, Jan 4 (Reuters) - Activity in China’s factory sector rose in December as the world’s second-largest economy sustained its recovery to pre-pandemic levels, a business survey showed on Monday, however, increasing cost pressures slowed the pace of expansion. The Caixin/Markit Manufacturing Pur

U.S. Stocks Finish Strong Year On Upbeat Note Despite Pandemic

Stocks showed a lack of direction throughout much of the trading session on Thursday before moving to the upside going into the close. With the late-day advance, the Dow and the S&P 500 reached new record closing highs. The major averages all closed in positive territory, although the Nasdaq pos

GBP/USD Forecast: British Pound Pressuring Highs Again

The British pound rallied during the trading session on Wednesday to reach above the 1.36 level yet again. This is an area that has now formed a “triple top”, but one thing that should be paid attention to is the fact that we are closing towards the top of the range, which typically means you get a

China state banks seen buying dollar to ease sharp yuan rally, traders say

SHANGHAI/BEIJING, Dec 31 (Reuters) - China’s major state-owned banks were seen buying U.S. dollars at the level of about 6.52 yuan on Thursday, traders said, in a move viewed as an effort to keep the yuan from rising too fast and breaching a key level. The onshore spot market opened at 6.5204 per do

China's factory recovery moderates as higher costs slow business

BEIJING (Reuters) - China’s factory activity expanded in December as hot export demand fueled a recovery in the world’s second-largest economy from the coronavirus slump, although higher labour and transport costs slowed the pace of growth. The official manufacturing Purchasing Manager’s Index (PMI)

USTR: Additional tariffs target products from France, Germany

Early Thursday morning in Asia, the US Trade Representative's office unveiled stated suggesting further tariffs on the French and German products. The list includes aircraft manufacturing parts and certain wines, cognacs and other brandies, said the official update. FX implications Despite the downb

Pull-up Update