XAU/USD: Thick Daily Cloud Contained Sharp Pullback But Fresh Recovery So Far Lacks Strength

AUDUSD remains in red for the eighth consecutive day and fell to the lowest in six weeks in early Wednesday. Aussie dollar remains under increased pressure from stronger US dollar, falling prices of commodities and concerns about China’s economic growth. Bears cracked pivotal support at 0.6580 (200DMA / 50% retracement of 0.6362/0.6798) after Tuesday’s close […]

EUR/USD plummeted below 1.0800 and is currently hovering around 1.0796 on Monday morning. This development came amid heightened political tensions in France. President Emmanuel Macron called for early elections on Sunday in the wake of his party’s crushing defeat and Marine Le Pen’s party’s resounding victory in the European Parliament elections. The far-right, which secured […]

Markets No follow-through price action on yesterday’s rise in long-term yields for now. We at least partially attributed the move to investors’ pondering issues of long-term fiscal sustainability in Europe but also in the US. The Biden-Trump presidential debate later today might provide some additional insights on how much (or how little) priority both candidates […]