Gold is trying hard to recover ground above the $1800 mark, as the US dollar continues to benefit from broad risk-aversion amid looming coronavirus risks. Let’s see how it is positioned ahead of the critical US CPI release. The Technical Confluences Indicator shows that the yellow metal is likely to face an uphill task to take on the […]

Sentiment towards EUR/USD is bullish courtesy of signs of a rebound in the German economy.  Germany’s Merkel says a second EU summit may be needed on the fiscal stimulus package. Upside may remain elusive if the global stocks turn risk-averse on lingering virus concerns. EUR/USD looks north with the German economy showing signs of bottoming out

Bitcoin resumes the decline after a failed recovery attempt. Global pessimism will increase the selling pressure on the first digital coin. Bitcoin (BTC) has returned to the previous range and seems to be more inclined to retest $9,000 towards the end of the week. At the time of writing, BTC/USD is changing hands at $9,184,

USD/CAD gained traction for the second consecutive session on Friday. Concerns about surging COVID-19 cases benefitted the safe-haven USD. Weaker crude oil prices undermined the loonie and remained supportive. Investors now look forward to the Canadian jobs report for a fresh impetus. The USD/CAD pair climbed further beyond the 1.3600 mark and shot to 1-1/2-week

EUR/USD is trading closer to 1.1250 as concerns about US coronavirus cases are growing. Eurozone finance ministers are meeting ahead of next week’s summit.  US PPI and updated COVID-19 statistics are awaited. From a technical perspective, the overnight sharp pullback might have already shifted the near-term bias back in favour of bearish traders. A subsequent

NZD/USD drops 0.23% in Asia after failing to break above 0.66 on Thursday.  Risk-off action in the equity market bodes well for the safe-haven US dollar.  Fed’s balance sheet size drops below $7 trillion, could add to bearish tone around equities.  The NZD/USD pair is extending overnight losses with the US dollar continuing to draw

GBP/USD is advancing above 1.26, benefitting from broad US dollar weakness as stocks advance. UK Chancellor Sunak presented a £30 billion stimulus package and promised additional support. Brexit talks remain stuck. GBP/USD has entered overbought territory according to the Relative Strength Index on the four-hour chart – which is above 70. Cable continues trading above

AUD/JPY recedes from 75.00 after mixed China data, measures to tame the virus outbreak. A short-term ascending trend line, trading beyond 200-bar SMA favor the bulls. Multiple upside barriers stand tall to challenge the optimists past-75.00. AUD/JPY drops to 74.83, down 0.06% on a day, during the early Thursday. Even so, the pair stays inside

NZD/USD extends pullback from June month high of 0.6585. China’s CPI grew more than 2.5% to 2.7% but PPI dropped below -3.2% to -3.7% on YOY. Australian states keep battling to tame the virus spread, US figures cross 3.0 million. New Zealand’s ANZ data have been upbeat off-late but failed to ignore the risk reset.

GBP/USD is trading around 1.2550, holding onto its gains. UK Chancellor Sunak is set to lay out the fiscal stimulus plan. Brexit remains deadlocked as PM Johnson told German Chancellor Merkel that Britain could leave without a deal. Pound/dollar has broken above a downtrend support line that capped it since late June and is trading