FX

EUR/GBP prints minute gains on Tuesday in the Asian trading session. Probable downside if price decisively moves beyond 0.8550.     Momentum oscillators hold onto the oversold zone with a bearish sentiment. EUR/GBP continues to grind shallow price movement on Tuesday tracing the previous session’s lull performance. At the time of writing, EUR/GBP is trading at

GBP/USD witnessed an aggressive short-covering move on Monday amid a broad-based USD weakness. The set-up favours bearish traders, warranting some caution before positioning for any further gains. The GBP/USD pair refreshed daily tops heading into the North American session, with bulls looking to build on the momentum further beyond the 1.3700 mark. The mentioned handle coincides

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.4969 vs the last close 6.5012. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled. Each morning, the People’s

What you need to know on Monday, August 23:  The dollar gave up some ground at the end of the week, but it’s the strongest currency across the FX board. The better performance of equities and bouncing government bond yields put a cap on the greenback’s demand. The main themes were the spread of the

EUR/GBP rises 0.22% on weak UK economic data. UK’s retail sales data drop 2.5% vs 0.4% expected. The short-term trend is up, however stronger UK economic data, supports the British pound. The EUR/GBP rises for the second day in a row, modestly gain 0.22%, trades around 0.8580. For the second week in a row, recovers

On the session, the USD/CHF is down 0.14%, trades around 0.9176. The daily chart supports the uptrend. In the case of a short correction, price will tend to favor buyers Daily chart The price is trading around 0.9170. The daily moving averages stand underneath the spot price, and support moves towards the upside, however, recent

As we head towards the NY close, the white-metal trades down 0.87%. The US dollar fell 0.06% as the American session unwinds. The US 10-year Treasury yield rise to 1.26%. Despite US dollar weakness, silver slides for the third day in a row, and trades around $23.06 down almost 1%. The US dollar index is

Retail Sales in Canada rose less than expected in June.  USD/CAD clings to daily gains around 1.2900 after the data. Retail Sales in Canada rose by 4.2% on a monthly basis in June, the data published by Statistics Canada showed on Friday. This reading followed May’s contraction of 2.1% and came in slightly weaker than

“A majority of Japanese firms want Prime Minister Yoshihide Suga to lose office through general elections that must be held this year, frustrated with the lack of leadership in his handling of COVID-19 and its economic fallout,” a Reuters poll published early Friday showed. Key quotes The Corporate Survey canvassed 503 large and midsize non-financial

Silver witnessed some follow-through selling for the third successive day. Slightly oversold RSI on the 1-hour chart helped limit any further losses. The technical set-up still remains tilted firmly in favour of bearish traders. Silver extended its recent pullback from the vicinity of the 50% Fibonacci level of a sharp fall from monthly swing highs

A break above 151.16, the double-top neckline could negate the chart pattern. If the pattern is confirmed, 149.00 is the target. GBP/JPY post modest gains 0.08%, eyes 151.16. The GBP/JPY trades modestly up in the session at 151.05 slightly up 0.05%. In the previous session, the pair closed at 150.82 a gain of 0.30%.  GBP/JPY

GBP/USD Forecast: Dead-cat bounce points to further falls, Fed minutes could pummel the pound No mercy in the summer – the safe-haven dollar has been gaining ground and the pound has been suffering from weak data. That has resulted in a mere “dead-cat bounce” for GBP/USD, following its sharp drop below 1.38. It is now

USD/CHF edges higher during the two-day uptrend towards weekly high. Downbeat momentum, key SMA hurdle challenges the further upside. 61.8% Fibonacci retracement offers strong support, bulls may aim for 0.9200 during further advances. USD/CHF remains on the front foot, recently easy around 0.9150 during Wednesday’s Asian session. The Swiss currency pair bounced off the 61.8%

AUD/USD fell to its lowest level since November at 0.7279. US Dollar Index clings to modest daily gains above 92.70. RBA noted that recent coronavirus outbreaks are weighing on recovery. After closing the first day of the week in the negative territory, the AUD/USD pair came under strong bearish pressure during the Asian session and

Silver edges higher following the corrective pullback from multi-day low. Firmer RSI, successful break of support-turned-resistance back the bulls. 200-SMA adds to the upside filters, weekly support line offers extra challenge for bears. Silver (XAG/USD) consolidates the last week’s slump, up for the third consecutive day around $23.88 amid Tuesday’s early Asian session. In doing

NIO stock is lower again in premarket trading. NIO breaks $40 in Monday’s premarket session. NIO has been falling since the results last week. NIO shares are down again in Monday’s premarket as some sad news hits the stock in relation to a driver fatality. The Securities Times which is a Chinese publication is reported as

Bearish risks continue to prevail in the EUR/GBP according to analysts at MUFG Bank. They hold the idea of shorting the cross with a target at 0.8320. They consider that positive developments regarding COVID reinforces the bullish outlook for the pound.   Key Quotes: “We are maintaining a short EUR/GBP trade idea to reflecting building

GBP/USD Weekly Forecast: Sterling capped by looming Federal Reserve policy change Sterling stalls near the middle of its six-month range. UK economic data improves, promising an advance in the third quarter. Covid cases climb but future direction and  impact are uncertain. FXStreet Forecast Poll is bullish but the gains are minor. Sterling declined on the