Posted by OFX AUD - Australian Dollar The Aussie dollar rose against the USD last trading session to open at 0.6669 gaining some traction after a speech by President Trump about China early Saturday morning. The US President has stated that the United States will move to sanction Chinese officials over what … Continue reading "AUD sees a rise following President Trump’s speech"The post AUD sees a rise following President Trump’s speech appeared first on .
Watch trader reaction to $1744.10 to $1754.30 early next week. This should tell us if buyers have returned or if sellers are taking control.
It’s a busy week ahead. Central banks are in action and China will be in a retaliatory mood. Then there are the stats to begin tracking once more…
The dollar edged lower against the euro on Friday, hurt by month-end flows and as the common currency continued to enjoy a boost from the European Union's recently announced plan to prop up the bloc's coronavirus-hit economies with a 750 billion-euro ($828 billion) recovery fund. The euro was 0.13% higher at $1.1091, its fourth straight day of gains. The euro's rally this week has pushed it over its 200-day moving average for the first time since late March and lifted it about 1.7% for the week, its best weekly gain in nine weeks.
The direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the main 50% level at 1.1066.
Gold markets initially fell during the week, but then turned around to form a bit of a hammer.
Gold markets have shot higher during the trading session on Friday, breaking above the top of the shooting star from the previous session.
The US dollar continues to go back and forth overall, as the ¥107 level looks to be a bit of a magnet for price.
The British pound rallied significantly during the week but as you can see is still very much in a downtrend.
The British pound has rallied a bit during the week, breaking above the ¥132 level. The market is likely to see noise above, perhaps extending to the ¥135 level.
The dollar extended its slide against a surging euro on Friday, hurt by month-end flows and as the common currency continued to enjoy a boost from the European Union's recently announced plan to prop up the bloc's coronavirus-hit economies with a 750 billion-euro ($828 billion) recovery fund. The dollar, a safe-haven currency, found some support as traders awaited U.S. President Donald Trump's response to China's tightening control over Hong Kong, which could worsen tensions between the two powers over the financial hub. Much of the euro's move was driven by optimism generated by the European Commission's stimulus plan announced earlier this week, as well as investors' improved appetite for risk-taking as global economies gradually move to reopen after coronavirus-linked shutdowns, analysts said.
The Euro exploded to the upside during the week, breaking above the 1.11 level. However, we are reaching some significant resistance just above.
The Australian dollar has rallied a bit during the week, reaching towards the 50 week EMA, which of course is one indicator reliable over the last years.
The gold futures contract gained 0.09% on Thursday, as it extended its consolidation following bouncing off $1,700 support level on Wednesday. Gold has been trading within a downward correction after reaching new monthly high of $1,775.80 on Monday almost two weeks ago. Gold is 0.6% higher today, as it gets back to yesterday’s high.
Silver breached the resistance at $17.50 and continues to gain upside momentum.
The US dollar fell a bit during the trading session on Friday, reaching towards the ¥107 level, an area that has been supportive as of late.
Euro has exploded to the upside based upon the idea that Germany is going to underwrite all of the debts of other economies in the EU through these shared bonds.
The British pound has initially pulled back a bit during the trading session on Friday only to turn around and rally towards the 50 day EMA.
The Australian dollar has initially dropped during the Friday session only to turn around and break towards the highs again.
The British pound has rallied a bit during the trading session against the Japanese yen after initially falling hard.
During Great Recession, many people feared that the Fed’s quantitative easing would trigger inflation, or even hyperinflation. As we know, it didn’t happen.Why?
The Spanish government approved on Friday the creation of a minimum income worth 462 euros ($514) a month for the poorest, Deputy Prime Minister Pablo Iglesias told a news conference, in a scheme that targets some 2.5 million people. Under the decree approved at a cabinet meeting, the government would pay the monthly stipend and top up existing revenue for people earning less so that they get at least that minimum amount every month, Iglesias told reporters. The minimum income would increase with the number of family members to a total of up to 1,015 euros per month.