Forex News

Resurgent USD demand exerted some fresh pressure on the dollar-denominated commodity. The set-up favours bearish traders and supports prospects for further near-term weakness. Any attempted recovery might continue to confront stiff resistance near the $1875-78 area. Gold failed to capitalize on the previous day's modest rebound from the vicinity of 100-day SMA support, instead met…

USD/CAD trades modestly higher above 1.3370 on Friday. US Dollar Index clings to gains near 94.50 ahead of Wall Street's opening bell. WTI struggles to hold above $40 in early American session. After spending the first half of the day fluctuating in a tight range near 1.3350, the USD/CAD pair turned north in the last…

USD/CAD maintains a base to suggest further corrective strength to the medium-term bear trend, with the “measured base objective” at 1.3496/3525, per Credit Suisse. Key quotes   “USD/CAD has seen the recent upswing come to a temporary pause ahead of the 61.8% retracement of the June/September fall at 1.3340, in line with the broader BBDXY…

According to the latest report published by the UK government, the reproduction (R) number estimate for coronavirus infections in the UK rose to 1.2-1.5 range from 1.1-14 range previously, as reported by Reuters. Additionally, the growth rate range increased to 4%-8% from 2%-7%.  While announcing the new restriction measures earlier in the week, "I must emphasize that…

USD/JPY turns positive for the fifth consecutive session amid resurgent USD demand. The USD bulls largely shrugged off Friday’s disappointing US Durable Goods Orders. A weaker tone around the equity markets also did little to dent the bullish sentiment. The USD/JPY pair held on to its modest gains through the early North American session, with…

Durable Goods Orders in the US rose less than expected in August. US Dollar Index clings to daily gains above 94.50 after the data. Durable Goods Orders in the United States expanded by 0.4%, or $1 billion, on a monthly basis to $232.8 billion in August following July's increase of 11.7% (revised from 11.2%), the US Census Bureau reported…

GBP/USD quickly reverses a mid-European session dip to sub-1.2700 levels. Soothing Brexit-related comments extended some support to the sterling. Coronavirus jitters continued underpinning the USD and capped the upside. The GBP/USD pair rallied around 50 pips in the last hour and was last seen hovering in the neutral territory, just below mid-1.2700s. The pair continued…