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Latest Forex Analysis
Editors’ Picks
AUD/USD: Bears battle 0.6950 as virus woes, US-China tussle intensify
AUD/USD begins the week with a downside gap of nearly 40 pips to 0.6950. Worsening coronavirus conditions in Australia and abroad hurt market sentiment. Sino-American tension escalates with the US warning citizen of arbitrary arrests in China.
USD/JPY bears holding their positions below 107 level
Yen remains a safe haven currency of choice as trade wars and the coronavirus play havoc risk apatite. Investors pin hopes on Gilead Sciences reporting that its antiviral drug Remdesivir recorded positive results in clinical trials.
Gold: Pierces $1,800 inside short-term bullish flag
Gold prices extend recoveries from $1,798.14, defies two-day losing streak. A seven-day-old bullish technical pattern, sustained trading beyond immediate support favor the buyers. 200-HMA offers additional downside support, bulls will cheer break of $1,811.60.
WTI: Depressed above $40 amid output cut talks
WTI defies the late-Friday recovery moves while slipping from $40.80. Saudi Arabia pushes for two million barrels a day output cut, IEA improves on oil demand forecast. Risk-tone remains mildly positive amid virus woes, US-China tension.
S&P 500: Bank's earnings in focus, COVID-19 induced insolvency fears simmer away
The S&P 500 will be a key theme on Q2 earnings this week, traders watching the banks for guidance. Wall Street stocks remain in bullish territory, but the S&P 500 is on thin-ice while below the June highs.