US Dollar Back Above 93 Levels as Vaccine Optimism Fades
US dollar index is back above 93 levels as investor’s optimism over the coronavirus vaccine faded in the past two sessions. The rally in the USD index is also supported by heavy selling in currencies like the Japanese yen and Swiss franc.
US Dollar Trades Below 93 Mark Despite Steep Equities Selloff
US dollar continues to trade below 93 levels despite the massive stock price selloff on concerns stemming from record growth in daily virus infections. US and European stock markets lodged the largest daily decline in the past few months on Monday and extended that downtrend in Tuesday trading.
US Dollar Trades in a Tight Range, Gold, and Riskier Assets Fall
US dollar continues to trade around the 93.40 level against the basket of six major currencies amid the uncertainty regarding the stimulus package and concerns over the second coronavirus wave. The USD index has been trading in a tight range of 92.90 to 93.60 levels over the past few days.
US Dollar Dips on Equities Rally, Trump Tweet in Focus
US dollar fell slightly from Tuesday high as investors focus moved towards risker currencies and assets after Donald Trump announced that new aid is coming for the airline industry. Wall Street posted big gains on Wednesday and extended the upside into Thursday trading.
NAS100 Nasdaq Index Strength to 12100
Possible 5-3-5 zigzag pattern forming on Nasdaq for at least one more leg up to C. This has been labelled as an ABC because it’s the bare minimum for an impulse 12345 also being wave 3. Nasdaq – We must get the 3rd wave or C wave regardless of labelling…
CAD/CHF Coiling for Next Expansion to 0.7000
CAD/CHF has respect 0.69200 for all of August and September, touching on multiple occasions reversing for short periods. This was the September open candle zone. Price pierced through this major level and holding above forming a possible triangle / Flag continuation pattern for at least a short time advance to…
Crude Oil Slips , DXY Gains, Gold Under Pressure – Ahead of European Trading Session
Asian markets open with continued weakness for a second consecutive session. Oil falls more than 1% on Saudi price cuts , but China imports remain strong. Chinese and US equity bourses in the red along with Japan's Nikkei index.
Key Events to watch out for this week
Tuesday EUR Gross Domestic Product (QoQ) (consensus -12.1%, previous -3.6%) – 10:00 AM BST Gross Domestic Product (YoY) (consensus -15%, previous -3.1%) – 10:00 AM BST The Worries around the health of the Eurozone have come into the spotlight amid a worrying set of trade data from Germany. Should the…
Dollar Index Back Under Pressure As Markets Brush Off ‘Supportive FED’
Dollar Index slips key 93.00 level with global equity bourses under pressure. GBP/USD continued its aggressive bullish run, breaking above 1.3100 during Asian trading hours. Northern England has had to revert back to a lock down state as virus cases pickup heading into the summer