Gold prices have recovered a significant portion of the daily drop. Traders will be watching US data and the FOMC Minutes for the week ahead. XAU/USD is trading at $1,779.16 and flat after Friday’s price action. Gold took advantage of a drop in the US dollar on Friday followingRead More →
USD/CAD extends Friday’s gains to one-week high as US dollar strays strong. Chatters that Biden will cancel Keystone XL pipeline permit on the first day in office weigh on the Canadian dollar. US holiday probes the bulls, China data, risk catalysts eyed for immediate direction. USD/CAD jumps to aRead More →
Economists at Charles Schwab believe the dollar is in for a long decline for the following reasons: the Federal Reserve has shifted to a zero interest rate policy, U.S. economic growth will likely underperform other major economies due to the coronary virus, political uncertainty is rising, and the growingRead More →
EUR/USD bears waiting to pounce with bearish H&S in the making. USD volatility seeking a convincing break to the upside as US yields firm and FX intrinsic values are finally measured. EUR/USD is currently trading at 1.1817 and between a 1.1777 and 1.1864 range while recently pulling back fromRead More →
DXY sticks to the daily recovery although below the 94.00 mark. Markets’ sentiment keeps favouring the safe haven demand on Tuesday. S&P/Case-Shiller Index came in below estimates at 3.7% in May. The greenback, in terms of the US Dollar Index (DXY), remains on the positive note around the 93.70Read More →
