Remains vulnerable to slide further

  A modest USD profit-taking assisted GBP/USD to reverse an intraday dip to sub-1.3600 levels. Acceptance below 200-day SMA might have already set the stage for a further near-term decline. Any attempted recovery move is more likely to remain capped near the 1.3700 round-figure mark. The GBP/USD pair once againRead More →

NZD/USD slides to four-month lows, around 0.6975 region

  NZD/USD continued losing ground on Wednesday and dropped to fresh multi-month lows. The NZ government’s overnight announcement to curb housing prices weighed on the kiwi. The risk-off mood benefitted the safe-haven USD and contributed to the ongoing downfall. The NZD/USD pair remained depressed through the Asian session on WednesdayRead More →

  U.K.-based pharmaceutical giant AstraZeneca said Tuesday it will suspend clinical trials of a coronavirus vaccine it developed with Oxford University after a British subject fell ill. The decision will affect the company’s just-started so-called Phase 3 trial, which recruited 30,000 volunteers in the U.S. after 10,000 subjects in theRead More →

  Widespread Dollar weakness helped Gold regain positive traction on Friday. A further decline in US bond yields continued to support this positive development. The bulls appeared to be relatively unaffected by the positive mood in global equity markets. Gold continued to gain ground during the mid-European session and wasRead More →