FX

Reuters quotes five anonymous sources during the weekend news while saying, “China has given domestic and international banks permission to import large amounts of gold into the country.” The move is cited as “potentially helping to support global gold prices after months of declines,” by the news. The news suggests around $150 tons of gold

AUD/USD is edging lower in the American session. On a weekly basis, AUD/USD is up more than 100 pips. US Dollar Index struggles to stage a meaningful rebound. The AUD/USD pair rose to 0.7760 earlier in the day but lost its traction during the American trading hours. As of writing, the pair was down 0.2%

Previewing the Bank of Canada’s (BoC) policy meeting, TD Securities analysts said that they expect the bank to reduce its government of Canada (GoC) bond purchases from $4 billion per week to $3 billion per week, as reported by Reuters. Key quotes “In light of the much stronger than expected economic data over the last quarter,

Equity markets continue to set new highs as macro data supports bulls. Refinitiv data shows money market fund redemptions but still inflows to equities. Earnings season switches from bank stocks to reopening plays. Stay up to speed with hot stocks’ news! Equity markets continue to remain bolstered from all sides as the macro environment produces

Gold has been trending higher after taking support near the double bottom formation on the daily chart. However, XAU/USD now faces stiff resistance near the $1,775 hurdle. MACD indicator tilts in favor of bulls. Gold is consolidating below February 26  highs of $1,775.90 on Friday, as the bulls gather pace to continue the upside further.

Cleveland Fed President Loretta Mester crossed wires, via Reuters, during late Thursday in the US while saying, “US economy will grow by 6% or more this year and the unemployment rate will drop to 4.5% or lower by year-end.” The Fed policymaker also said that the economy has a long way to go until sustainable recovery while

EUR/GBP continued with its struggle to break through the 0.8700 round-figure mark. The technical set-up favours bullish traders and supports prospects for additional gains. Dips below the 0.8645-40 area could be seen as a buying opportunity and remain limited. Having struggled to move beyond the 0.8700 mark, the EUR/GBP cross edged lower on Thursday and

Having stopped the usage of Johnson & Johnson’s (J&J) coronavirus (COVID-19) vaccine in all 50 US states the previous day, US Centers for Disease Control and Prevention (CDC) extends the pause on the usage of the vaccine amid a lack of more data to assess the risk. The CDC panel concludes without a vote and

AUD/USD gained strong follow-through traction on Wednesday and shot to three-week tops. Slightly overbought RSI forced bulls to pause near a resistance marked by the 50% Fibo. level. The AUD/USD pair built on the previous day’s goodish rebound from sub-0.7600 level and gained some strong follow-through traction for the second consecutive session on Wednesday. The

AUD/USD eases from weekly top after a notable rebound from 0.7585. Market sentiment stays mixed amid virus woes and strong US data. Strong US bond auction weighed down yields and dragged down US dollar too. Australia’s Westpac Consumer Confidence for April, Powell’s speech will be crucial. AUD/USD bulls catch a breather around 0.7642, following a

German ZEW Economic Sentiment arrived at 70.7 in Apr vs. 79.0 expected. ZEW Current Situation for Germany came in at -48.8 in Apr vs. -53.0 expected EUR/USD drops below 1.1900 on mixed ZEW numbers. The German ZEW headline numbers for April showed that the Economic Sentiment Index dropped to 70.7 versus 79.0 expectations and 76.6 last. While

AUD/NZD bears looking for a break of critical daily dynamic support.  A meaningful Fbo retracement has been met.  While the price remains stuck in a tight range, and with little on the table in terms of a catalyst, we do have a dynamic trendline that poses risks to the downside on a break thereof as

The RBNZ is seen keeping the policy rate at 0.25% at its meeting later this week, noted Economist at UOB Group Lee Sue Ann. Key Quotes “For now, we think that negative interest rates are a risk but an increasingly low one.” “Our call remains for the OCR to be unchanged at 0.25%.” “More likely,

Reuters reports that ECB board member Fabio Panetta told Spanish newspaper El Pais that the European Central Bank should accept no further delay in lifting inflation back to its target as the current outlook is unsatisfactory and persistent misses risk damaging the economy. “The argument that we could extend the horizon to meet the aim

Toward the end of trading Friday, the Dow traded up 0.42% to 33,645.90 while the NASDAQ rose 0.06% to 13,837.33. The S&P also rose, gaining 0.32% to 4,110.11. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 31,003,070 cases with around 560,110 deaths. Brazil reported over

Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire. Stay up to speed with hot stocks’ news! Another week another record-shattering performance from US equities. All sectors remain strong but mega-cap

US equity markets saw a late surge despite a lack of fundamental catalysts at the time on Friday. Some desks cited Fed jawboning on how the coming spike in inflation will be transitory as supportive for stocks. The S&P 500, Dow and Nasdaq 100 all clinched record closing levels. US equity markets saw a late

EUR/JPY extends the consolidative mood above 130.00. Next on the upside comes in the 131.00 yarstick. EUR/JPY remains side-lined above the key barrier at 130.00 the figure at the end of the week. Further consolidation around current levels looks likely in the short-term horizon. The resumption of the bull trend faces the next hurdle at