Copper posts a three-day uptrend despite recession fears and pre-Fed anxiety. The drop in the dollar and fears of a lower supply from China and Peru also underpin the recovery movements. US consumer confidence and slowdown rumors may entertain traders ahead of the FOMC. Copper prices remain firm as markets cheer on a softer dollar […]
Tag: RiskAppetite
USD/CAD flirts with the 50 DMA around 1.2850
A combination of factors caused aggressive intraday selling around USD/CAD on Monday. The rally in crude oil prices underpinned the loonie and put pressure on amid a weaker dollar. Recession fears could dampen oil prices and limit dollar losses ahead of the key FOMC decision. The pair USD/CAD has seen an intraday turnaround from multi-day […]
GBP/USD strengthens beyond 1.2050, on fresh multi-week highs
GBP/USD hit a new multi-week high amid the onset of fresh dollar selling. An intraday positive shift in risk sentiment weighed on the greenback as a haven. Brexit woes could cap sterling’s gains ahead of the crucial FOMC decision. The pair GBP/USD attracted some buying on the dips near the 1.1960 area on Monday and […]
AUD/USD climbs back above 0.6950 and nears 1-month highs on weak dollar
AUD/USD reverses intraday decline on Monday and approaches one-month highs again. A positive risk tone and stable yields support the pair. Traders might refrain from making aggressive bets ahead of this week’s key data/events. The AUD/USD pair found buyers near the 0.6880-0.6875 region on Monday and gained momentum during the first half of the European […]
EUR/USD faces rejection near descending channel resistance amid modest USD bounce
EUR/USD price pulled back from two-week highs reached this Wednesday. The appearance of some dollar purchases was considered a key factor that exerted pressure. Repositioning ahead of the ECB on Thursday contributed to the pullback. The price of EUR/USD saw an intraday reversal from the 1.0275 area, or a two-week high reached earlier this Wednesday, […]
USD/CHF extends intraday recovery from two-week low and climbs above 0.9700
USD/CHF gains some positive traction on Wednesday and reverses some of the previous day’s decline. A positive risk tone weighs on the safe haven CHF and offers support to the pair. High US bond yields help the dollar stop its corrective pullback and provide a modest boost to the pair. The pair USD/CHF attracts some […]
EURUSD resumes rally towards 1.0300, focus is on the ECB
EURUSD regains traction on the upside, while US dollar continues to slide. Expectations of an ECB rate hike of more than 25 basis points benefit the common currency. Reopening of the Russian Nord Stream 1 pipeline, market sentiment remains optimistic. The price of EURUSD is quoting near 1.0250, having found renewed bullish traction around the […]
Coronavirus: More than 1,000 new cases in China, more restrictions are coming
More restrictive measures are under consideration as China reports more than 1,000 new coronavirus cases for the first time since May 20.. The country registered 1,012 new cases of coronavirus for July 19of which 150 were symptomatic and 862 asymptomatic, according to the National Health Commission (CNS). Beijingthe capital of China, reported a new local […]
Gold trims intraday gains and struggles to break above $1,725-$26 resistance zone
The gold price gained some positive traction on Monday amid continued dollar profit-taking. Diminishing odds of a more aggressive Fed rate hike weighing on the dollar and extending support. The boost in risk appetite and the rally in US bond yields act as a headwind, capping the pair. the price of gold It starts the […]
NZD/USD faces rejection near 0.6200, trims intraday gains
NZD/USD rose for the second day in a row amid dollar profit-taking. Stronger-than-expected quarterly inflation data from New Zealand also offered some support. The rally in US bond yields helped limit dollar losses and capped the pair’s gains. The pair NZD/USD it was supported by last week’s bounce from the 0.6060 zone, its lowest level […]
