Forex News

AUD/USD stays positive, wavers between 0.7381 and 0.7392 off-late, around three-month high. S&P 500 refreshed record high, DXY probes September low. Vaccine hopes, US dollar weakness favor the bulls, Brexit jitters, virus woes and Aussie-China tussle test the upside momentum. Australia’s TD Securities Inflation, China’s NBS Manufacturing PMI to offer immediate direction, risk catalysts remain…

WTI keeps upside break of 61.8% Fibonacci retracement, nears highest in nine months. OPEC struggles to agree over output even as some participants back a delay in the production hike. Ascending trend line from March adds to the upside filter. WTI nears the end of November while revisiting the early-March tops, closed around $45.70 on…

GBP/USD keeps a downside break of monthly support line, eyes further weakness. Hopes of regulatory approval to leading covid vaccines battle Brexit jitters. EU’s Barnier reaches London, UK PM Johnson is likely to be approached by the bloc’s leader. GBP/USD trims monthly gains while declining in the last week to re-test 1.3300. The pair awaits…

OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Sunday and ahead of crucial meetings on Monday and Tuesday, four OPEC+ sources told Reuters. There was support in delaying the hike but there was no widespread agreement between members….

Here is what you need to know on Monday, November 30: The American dollar was the worst performer on Friday, falling against all of its major rivals, but the pound. The EUR/USD pair was the best performer, reaching a fresh 2-month high of 1.1963. The GBP/USD pair fell for a second consecutive day as the…

Last week’s sell-off in gold, which ensued after a breach of the long-term strong support at $1850, raised doubts whether the bull market is nearing an end. Still holding an upbeat outlook on the yellow metal, TD Securities (TDS) Commodity Strategist Daniel Ghali explained that the drivers that pushed gold to new highs back in…

  Iraq Oil Minister HE Ihsan Abdul Jabbar Ismaael said in a local media outlet that the OPEC’s second-largest oil producer will not ask for an exemption from the OPEC+ oil output cut deal. Key quotes “Oil prices are expected to reach about $50 at the beginning of 2021.” “The commitment of members to the deal would…

Inflation could rise by more than expected on hopes for a quicker economic upturn induced by the coronavirus vaccine progress and massive stimulus, the Bank of England (BOE) Chief Economist Haldane said in a speech to a University College London webinar on Saturday. Key quotes “As the economic recovery gathers pace next year, it will be…

 The Medicines and Healthcare Products Regulatory Agency (MHRA), the UK’s medical regulator, is likely to give a green signal to the coronavirus vaccine co-developed by BioNTech SE and Pfizer Inc from December 7, the Financial Times (FT) reported, citing unnamed sources. The vaccine deliveries would begin within hours of the authorization, the sources added. The…

Gold lost 4.5% on the week, the worst week since end-September. Stops got triggered after gold breached the $1800 critical threshold. Coronavirus vaccine progress-led economic optimism hammered gold. Gold (XAU/USD) finally breached the critical $1800 support on Friday, closing the week below that level for the first time since July 16. The spot eroded 4.5% of…