A combination of supporting factors helps USD / CAD gain strong traction on Wednesday. Nervousness over the coronavirus weighs on investor sentiment and fuels safe-haven monetary flows into the USD. A sharp drop in oil prices weighs on the CAD and supports the pair’s upward move before the BoC. USD buying interest has accelerated during […]
Tag: Coronavirus
Gold with modest losses around $ 1,900 region amid stronger USD
A strong rebound in the demand for USD puts new pressure on the prices of gold, denominated in dollars. A sell-off in the stock markets could offer some support to safe-haven gold and help limit losses. The bears could wait for a sustained break below the 100-day SMA before opening aggressive positions. The gold moves lower […]
WTI falls 4% to new three-week lows below $ 38 level amid coronavirus fears
WTI prices fall amid demand concerns as coronavirus cases rise in the EU. Possible lockdowns in Germany and France affect risk sentiment. The build-up of API crude inventories raises oversupply fears, EIA data will draw attention. The WTI (NYMEX futures) continues to decline during the European session on Wednesday, trading near the lowest levels in […]
USD / JPY near five-week lows around 104.20 region
USD / JPY extends the heavy losses of the previous day and remains under pressure for the second day in a row. The prevailing sentiment of risk aversion benefits the JPY and puts some pressure on the pair. A modest pickup in USD demand could help limit the slide amid political uncertainty in the United […]
GBP / USD falls to week-long lows below 1.3000 amid notable USD demand
GBP / USD comes under new selling pressure on Wednesday and renews weekly lows. Nervousness over the coronavirus drives safe-haven monetary flows into the USD and puts heavy pressure on the pair. Brexit-related uncertainties weigh on the GBP and further increase the selling bias in the pair. The pair GBP/USD has seen strong sales at […]
USD / CHF rises to highs of over a week and seeks to extend momentum above 0.9100 level
USD / CHF extends this week’s positive movement and gains traction for the third day in a row. The unrest around the coronavirus continues to benefit the USD as a global reserve currency. The prevailing sentiment of risk aversion could reactivate the demand for the CHF as a safe haven and limit the rise of […]
Lockdown Fears and Election Uncertainty Control Markets, Bitcoin at 33-Month Highs
This is what you need to know to trade today Wednesday, October 28: The market mood remains subdued as Germany, France, and possibly the UK are considering further restrictions due to rising coronavirus cases. Tension mounts ahead of the US election and its implications for the stimulus. The Bank of Canada is poised to leave […]
Merkel pushes for schools to stay open – Bild
Following reports on Tuesday suggesting that German Chancellor Angela Merkel is considering a “soft” confinement With coronavirus cases on the rise in Europe’s economic powerhouse, Bild notes that Merkel is expected to push for schools and kindergartens to stay open when she meets with the state’s prime minister to discuss the issue later on Wednesday. […]
USD / CAD remains bearish near the 1.3180-75 region, decline appears limited
A combination of factors triggered new selling around USD / CAD on Tuesday. US political uncertainty weighed on the dollar, despite upbeat US macroeconomic data. A good rally in oil prices sustained the loonie and added to the selling bias. The pair USD / CAD it updated daily lows, around the 1.3155 region during the […]
NZD / USD rises to new multi-week highs, picks up 0.6700 and above
A softer tone around the USD helped the NZD / USD continue to gain ground on Tuesday. The uncertain political environment in the United States was seen as a key factor weighing on the dollar. Nervousness over the coronavirus could provide some support for the dollar as a safe haven and limit the pair’s gains. […]
