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Latest Forex Analysis
Editors’ Picks
EUR/USD trades firmer above 1.1300 amid upbeat market mood
EUR/USD holds the higher ground above 1.1300, as the risk-on mood weighs on the US dollar. The shared currency will remain at the mercy of the broader market sentiment as the data docket is light on Monday.
GBP/USD off highs, around 1.2650 ahead of BOE’s Bailey
GBP/USD trims gains to trade around 1.2650 in early Europe. UK Chancellor Sunak prepares another aid package, Michael Gove pushes to prepare for Brexit. Significant differences prevail in the post-Brexit talks. BoE’s Bailey to speak later today.
Gold sits near daily tops, just below $1810 level
A combination of supporting factors assisted gold to regain positive traction on Monday. Sustained USD selling remained supportive amid concerns about rising COVID-19 cases. The prevalent risk-on mood might turn out to be the only factor capping any strong gains.
FX Today: Vaccine, earnings optimism downs the dollar; eyes on COVID-19 stats, BOE’s Bailey
The risk-on sentiment emerged as the main market driver starting out the week, amid a quiet Asian affair, in the absence of relevant macro news. US dollar remained on the back foot, as the coronavirus vaccine optimism continued to dull its safe-haven appeal.
WTI: 200-HMA probes bears above $40.00
WTI stays pressured beyond $40.00 despite multiple bounces off 200-HMA. MACD conditions suggest bears rolling up their sleeves for entry. Bulls will have multiple upside barriers beyond $41.00.