USD/CAD trades with modest losses, just below 1.3000 mark USD/CAD came under some renewed selling pressure on Thursday amid softer USD. A modest pullback in oil prices undermined the loonie and helped limit the downside. Holiday-thinned liquidity conditions also held traders from placing fresh bearish bets. The USD/CAD pair edged lower during the early North...
Oil: Market needs to work from position of elevated inventory to see higher prices – Deutsche Bank Oil market is still very much functioning on OPEC’s life support but there is much work still to be done in normalizing the level of floating storage inventory in order to see brighter prospects for oil prices, according...
NZD/USD: Outlook remains positive near-term – UOB The upside momentum in NZD/USD remains well in place with the next hurdle emerging at the 0.7060 level in the near-term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Yesterday, we highlighted that ‘the advance appears to be overdone and further sustained NZD strength is unlikely’....
Sweden Consumer Confidence (MoM) below forecasts (94.4) in November: Actual (88.3) Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be...
Base Metals: Bumpy road ahead despite investor’s sentiment optimism – ABN Amro The outcome of the US election and the hopes around the new vaccine sparked renewed optimism amongst most investors. Most base metals prices strengthened further as over the past month, base metals price rose by 5% on average. But still, the road ahead...
USD/COP: Little chances to break below 3600 – CIBC The USD/COP pair is approaching the 3600 mark with the recovery of oil prices amid recent vaccine news. Recent action and a break below this level could open the path for a move towards 3350. However, analysts at CIBC maintain a cautious approach due to still...
Crude Oil Futures: Upside looks healthy Traders increased their open interest positions in crude oil futures markets for the fourth session in a row on Thursday, now by around 29.5K contracts (the largest single day build since November 11) in light of flash data from CME Group. WTI now targets $50.00/bbl Prices of the WTI...
France Consumer Confidence came in at 90 below forecasts (92) in November Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not...
Forex Today: Fed, virus and data keep dollar depressed on Thanksgiving Day, ECB minutes eyed Here is what you need to know on Thursday, November 26: The US dollar is on the back foot against major currencies and gold after the Fed showed more openness to expanding its bond-buying scheme, COVID-19 cases continue rising and...
USD/CHF: Attention remains in the recent 0.8983 low – Commerzbank USD/CHF declines to the lowest since November 09 during Thursday as was last seen trading around 0.9070. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, maintains a neutral to negative stance while the pair trades below the downtrend at 0.9152 and is closely...