Yen and Dollar are back in control today as Asian markets turned red, following weakness in the US overnight. Fed Chair Jerome Powell’s comments somewhat disappointed investors. Australian Dollar weakens in general after data showed record contraction in employment. Though, Sterling is the worst one
Asian markets are in positive territory on Monday following the rally on Wall Street Friday after a report released by the Labor Department showed U.S. non-farm employment plummeted in April, but was not as bad as expected. Optimism about an economic rebound as governments in more countries begin to
The prevalent USD selling bias assisted gold to gain some traction for the second straight day.
The upbeat market mood might keep a lid on any strong gains for the safe-haven commodity.
Market participants now look to the ECB decision and the US jobless claims for a fresh impetus.
Gold edged higher
At 4.00 am ET Friday, Germany's ifo business confidence survey results are due. The business sentiment index is expected to fall to 80 in April from 86.1 in March.
Ahead of the data, the euro dropped against its major rivals.
The euro was worth 1.0746 against the greenback, 115.72 against the yen, 1
Daily Pivots: (S1) 1.0853; (P) 1.0881; (R1) 1.0907;
The break of 38.2% retracement of 1.1095 to 1.0777 at 1.0898 suggests that EUR/USD is in a stronger corrective recovery. Intraday bias is mildly on the upside for 61.8% retracement at 1.0974. Though, there is no change in the bearish outlook that l
At 2.00 am ET Tuesday, Destatis has issued Germany's revised GDP data for the fourth quarter. After the data, the euro declined against its major rivals.
The euro was trading at 1.0850 against the greenback, 120.25 against the yen, 1.0631 against the franc and 0.8386 against the pound around 2:03 am
Global core bonds eked out gains yesterday. US Treasuries outperformed German Bunds despite a very strong Philly Fed Business survey. The headline index beat all forecasts and rose to its highest level since February 2017. It followed on the heels of an impressive Empire manufacturing survey earlier
USD/CNH tests key MA for first in two months.
Bulls have pushed the pair above a three-month descending trendline.
Daily chat indicators are reporting strong upside bias.
USD/CNH rose above the psychological resistance of 7.00 on Monday and tested the 100-day moving average (MA) for the first tim
At the upcoming meeting, ECB members would likely acknowledge stabilization in the region’s economy, while reiterating accommodative monetary policy. The focus of the meeting would be the strategic review, the first assessment of the central bank’s monetary policy in two decades. We do not anticipat
German stocks were little changed in early trade on Monday, as investors awaited more U.S. earnings, key macro data and the European Central Bank's first policy meeting of the year for directional cues.
The benchmark DAX was down 7 points at 13,518 after climbing 0.7 percent on Friday.
Medical and s
According to analysts at Nordea Markets, ECB will leave rates unchanged at Lagarde’s second policy meeting and focus will be on the strategic review.
“We change our forecast and no longer expect further easing! Risks are tilted towards slightly higher rates as an immediate market response
EURUSD contained by 1.1160
Overall bullish structure in peril
The EURUSD is at a key level hours before President Lagarde's speech where we will finally have a look at the new President's ideas on monetary policies for the Euro Zone and most importantly her reaction to Mario Draghi's last stunt
European stocks showed a lack of direction on Tuesday as investors booked profits from the recent rally amid signs of a thawing in relations between the United States and China.
After the U.S. Treasury Department dropped China's designation as a currency manipulator, media reports suggest that China
The Czech Republic's industrial production decreased less-than-expected in November and construction output continued to grow, figures from the Czech Statistical Office showed on Friday.
Industrial production fell a working-day adjusted 3.2 percent year-on-year after a 0.4 percent fall in October. E
European stocks were rising on Thursday after the United States and Iran both indicated they want to avoid a wider military conflict.
U.S. Ambassador Kelly Craft told the UN that America stands "ready to engage without preconditions in serious negotiations with Iran, with the goal of preventing furt