EUR/USD NEEDS TO SURPASS THE 1.18 LEVEL TO CHANGE THE DOWNTREND – OCBC The EUR/USD pair is contained at the 1.1750 area. Subsequently, economists at OCBC bank still see the recent race higher as a correction rather than a...
AUD/USD NEEDS TO BREAK THE 0.7300/20 AREA TO EXTEND ITS RACE HIGHER – OCBC AUD/USD snaps two consecutive days of the winning streak as the pair has stalled at the 0.7250 level. The aussie needs to pierce the 0.7300/20...
CRUDE OIL PRICE SPIKES AFTER A FIRE AT MEXICO’S PEMEX FACILITY The price of crude oil continued its recovery after a major fire in a Pemex-owned facility. The fire, in Mexico, left 5 people dead and more than 420,000...
GOLD FUTURES: ROOM FOR EXTRA GAINS Open interest in gold futures markets extended the uptrend in place since August 12 and rose by early 9K contracts on Monday, according to flash data from CME Group. In the same line,...
GBP/USD: SCOPE FOR A SUBSTANTIAL RECOVERY TO THE 1.4018 MARK – COMMERZBANK GBP/USD has reversed just ahead of the initial target of analysts at Commerzbank at 1.3592/71. The pair has recaptured the 1.37 line and rallies could reach the...
GOLD PRICE FORECAST: XAU/USD STALLS THE UPSIDE AMID COVID VACCINE OPTIMISM This Tuesday, gold price is retreating from multi-week highs, testing the bearish commitments near $1800. As FXStreet’s Dhhwani Mehta notes, covid vaccine optimism threatens XAU/USD’s upward trajectory. FRESH...
CRUDE OIL FUTURES: REBOUND COULD RUN OUT OF STEAM In light of preliminary figures from CME Group for crude oil futures markets, open interest shrank for yet another session on Monday, this time by more than 19K contracts. On...
NZD/USD POINTS TO FURTHER CONSOLIDATION – UOB According to FX Strategists at UOB Group, NZD/USD is now seen within 0.6820-0.6950 range in the next weeks. KEY QUOTES 24-hour view: “Our expectation for NZD to ‘trade sideways between 0.6810 and 0.6865’ yesterday...
GBP/USD PRICE ANALYSIS: BULLS FACE CRITICAL RESISTANCE NEAR 1.3720 GBP/USD consolidates gains after the previous session’s strong performance. Additional gains for the pair envisioned if price sustained above 1.3720. Momentum oscillator holds onto the oversold zone with a neutral...
USD/CNY FIX: 6.4805 VS PRIOR 6.4969 In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.4805 vs the prior 6.4969. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY)...
