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Here is what you need to know on Monday, January 20th: The American dollar extended its gains on Friday, ending the week at highs against most major rivals, despite US data missed the market’s expectations. The EUR/USD pair settled below 1.1100. UK Retail Sales came in well below expected, hurting Sterling against most major rivals
The GBP/USD has been pivoting around the 1.30 area since mid-October and technical charts suggest that it could be fast approaching a break-out according to analysts at Rabobank. Key Quotes:  “Price action implies that GBP/USD is in a consolidation period. Movement in both directions is contained by two tradelines forming a triangle. The ongoing convergence
Next week, the European Central Bank (ECB) will have its policy meeting. According to ING analysts, the meeting will be uneventful, unlikely to shake the EUR/USD tight range. They see the pair with a neutral bias for next week, trading in the 1.1060/1.1200 range.  Key Quotes:  “The European Central Bank meeting (Thursday) should be a
Silver (XAG/USD) Technical Outlook: Silver has been unable to hold above resistance at $18.35 The fundamental drivers of recent bullishness have subsided, so XAG/USD could be vulnerable to further consolidation How to Trade Silver Silver Price Forecast: Will XAG/USD Consolidate Further? Silver has enjoyed an encouraging start to the year, receiving a boost from geopolitical
Analysts at MUFG Bank, point out that the Swiss franc has strengthened alongside the price of gold, perhaps reflecting debasement fears. They argue market participants are also questioning Swiss National Bank’s appetite for maintaining negative rates and intervening to dampen CHF strength. Key Quotes: “Market participants are also questioning whether the SNB will still has the
Karen Jones, analyst at Commerzbank notes that EUR/USD continues to see a slight recovery and the intraday Elliott wave counts are contradictory and they remain unable to rule out scope for a deeper sell off to the 100 day ma and uptrend at 1.1068/64. Key Quotes “Overhead the market is facing tough resistance at 1.1190-1.1240
Japanese stocks follow Wall St higher to end the week Another record close for US equities is helping to keep Asian markets more buoyed to wrap up the week. Although Chinese stocks are more tepid amid China GDP data earlier, which reaffirmed the slowest growth pace in 29 years. Both the Hang Seng and Shanghai
New Zealand Dollar Talking Points NZD/USD attempts to retrace the decline from earlier this month, but the exchange rate may continue to chip away at the correction from the 2019 low (0.6204) as the Relative Strength Index (RSI) falls back from overbought territory and fails to preserve the bullish trends carried over from the previous
GBP/JPY seesaws near the two-week top, extends run-up beyond 23.6% Fibonacci retracement of the pair’s October-December 2019 upside. A downside break will have a 21-day SMA and support-line of the short-term triangle as challenging the bears. GBP/JPY takes the bids to 144.15 during Friday’s Asian session. The pair stays positive above 23.6% Fibonacci retracement of