Gold”s immediate bias is neutral with prices trading within Monday’s range. Monday’s high is the level to beat for the bulls. Gold created a long-legged Doji candle on Monday, implying indecision in the market. The metal is currently trading near $1,890 per ounce. The immediate bias would remain neutral as long as prices are held […]
AUD/JPY is mildly bid after Friday’s Doji candle. A close above the Doji candle’s high is needed to confirm bull revival. AUD/JPY is currently trading near 76.22, representing a 0.25% gain on the day. The pair created a classic Doji candle on Friday, signaling indecision in the market and making Monday’s close pivotal. A close
Former Chinese Finance Minister Lou Jiwei expressed his view on the likely US-China trade relationship on Biden’s presidency. Key quotes “Even if Biden is president, US-China trade frictions won’t necessarily be eased. “ “Financial institutions should be determined to deleverage debt levels in an orderly manner, prevent debt-fuelled recovery.” “It is time to study the
Silver bounces off intraday low to challenge the short-term resistance line. 50% Fibonacci retracement, 200-hour EMA add to the upside barriers. One-week-old rising trend line will probe the bears. Silver prices take a U-turn from intraday low while rising to $24.25 during early Thursday. In doing so, the metal buyers attack a falling trend line
USD/ZAR is looking to dive out of a bullish channel on the hourly chart. A breakdown would open the doors for a re-test of recent lows. USD/ZAR’s recovery from an eight-month low of 15.2092 reached Monday is at risk of being aborted as the pair is teasing a rising channel breakdown on the hourly chart. At the
The average yield for the Bloomberg Barclays US corporate high yield index tanked by 45 basis points to a record low of 4.56% on Monday as coronavirus vaccine hopes boosted risk appetite and demand for riskier companies. Monday’s slide was the biggest single-day decline since April 9, when the Federal Reserve expanded its corporate bond purchases to include some junk
PBoC set yuan mid-point at 6.6123 / dlr vs last close 6.6079. Uncertainties prevail, but USD/CNY technical analysis points to a correction. USD/CNY has been relentless in its pursuit of lower lows since breaking the April 2020 support structure and the US elections that have weighed heavily on the US dollar has just tipped the pair
US 10-year Treasury yields seesaw near three-week low flashed the previous day. Biden keeps the lead in the US presidential election race, Trump stays hopeful. Virus woes, Fed Chair’s comments tame stimulus hopes. US 10-year Treasury yields look for a clear direction, down 0.7 basis points (bps), around 0.77% during the early Friday. The coupon slumped
EUR/USD takes a U-turn from the intraday high of 1.1739. An eight-day-old falling trend line adds to the upside barriers. Biden inches closer to the presidency, Trump blocks the way to White House via Pennsylvania. EUR/USD trims the early-Asian gains while recently declining to 1.1720 on Thursday. In doing so, the pair marks another pullback
AUD/USD tracks the S&P 500 futures lower amid risk-aversion. Florida and Pennsylvania are a toss-up and crucial for the race. AUD/USD faded its recovery attempts and now resumes its declines towards 0.7100, almost 100-pips down from daily highs of 0.7220. Markets are facing growing fears of a contest election, with Florida results showing a Trump
