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European Market Update – Key movers overnight have been the sterling and Oil. The pound was negatively affected by a poll showing the Tory party to have lost some support versus recent polls, which follows the unexpected downward revision to GDP figures. Cable has remained heavy in the wake of yesterday’s disappointing growth data out of the UK. A hefty drop in oil prices occurred  after OPEC and allies delivered the well anticipated nine-month extension to the prevailing volume reduction in supply.

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EUR/USD holding above 1.18 ahead of critical US data

EUR/USD is holding onto its gains, trading above 1.18 as the dollar remains on the back foot. ADP's US job report and the ISM Non-Manufacturing PMI provide critical clues toward the Non-Farm Payrolls. Fiscal stimulus talks and geopolitics are also in play.


USD/JPY: The return of the dollar’s sell-off

Japan July’s Jibun Bank Services PMI came in at 45.4 from 45 in June. US ADP survey and ISM Non-Manufacturing PMI coming up next. USD/JPY is bouncing from fresh weekly lows, risk skewed to the downside.


GBP/USD trades around to 1.31 amid dollar weakness, ahead of data

GBP/USD is trading around 1.31, recovering as the dollar retreats. The UK government is under scrutiny for its management of the virus crisis. Services PMIs on both sides of the Atlantic are eyed.


XAU/USD bulls unstoppable, renews life-time highs near $2040

With ‘buy the dips’ emerging as the main underlying theme behind the gold (XAU/USD) price action so far this week, the bulls flex their muscles further to record fresh all-time highs near $2040.

Gold News

WTI hits fresh two-week highs near $42.50 ahead of EIA data

WTI (futures on Nymex) extends its winning-streak into the third straight day on Wednesday, as the bulls challenge the July high of $42.51.

Oil News