Although GBP/USD has already dropped below 1.30, the rising chances of the UK failing to reach a post-Brexit trade deal with the EU could lead to further losses.
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Wednesday, 9 September 2020
CAD/JPY Rates to Recoup Losses on Wait-and-See Bank of Canada
CAD/JPY rates could claw back lost ground as the Bank of Canada is expected to keep its monetary policy settings steady amid positive fundamental data.
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Tuesday, 8 September 2020
Gold Price Touches 50-Day SMA for First Time Since June
The price of gold has touched the 50-Day SMA ($1912) for the first time since June as it trades within the August range.
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Nasdaq 100 Lost 10% in 3 Days, Hang Seng and FTSE 100 May Fall
The Nasdaq 100 index tumbled 4% on Tuesday, stretching a three-day loss to over 10%. Futures markets are pointing lower as Asia-Pacific stocks start trading on Wednesday.
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Bitcoin Price Outlook: Will Support At $10,000 Stifle BTC/USD Sellers?
Bitcoin’s 26% retreat from its yearly high posted in August may prove to be a mere short-term pullback if pivotal chart support at the $10,000 mark remains intact.
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USD/CAD Rate Rebound Brings March/June Low on Radar
USD/CAD appears to be on track to test the March/June low (1.3315) for resistance as it breaks out of the range bound price action following Canada’s Employment report.
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AUD/USD at a Critical Juncture as Biden-Trump Spread Widens
AUD/USD is trading at what could be a trend-defining chart support as the US Dollar stages a comeback in tandem with a widening Biden-Trump spread.
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Dow Jones Forecast: Industrial Average Succumbs to Selling Pressures
The Dow Jones extended lower to start the week as US equities post their largest 3-day decline since March. Can technical support keep the Dow Jones afloat or will tech weakness reign supreme?
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Gold Price Forecast: XAU Bounces From Support, Gold Bulls on Return?
While Gold started August with strength, it finished with a whimper, and that's continued through the opening week of September trade.
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Dollar vs Mexican Peso Outlook: USD/MXN Ranges at Fibonacci Support
Mexican Peso has carved a well-defined range just below the September open. Here are the levels that matter on USD/MXN technical charts in the days ahead.
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Crude Oil Price Forecast: Crude Falters Alongside Tech as Selloff Broadens
Crude oil suffered a significant break down to start the week, falling to its lowest level since mid-June as a result. With risk appetite on the backfoot, will crude fall further now that support h...
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Euro Dollar Outlook: EUR/USD Indecisive as Political Pressure Looms
After four months of gains for the EUR/USD, price action has stalled around the psychological level of 1.1800
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DailyFX Education Summit: Trade Your Market
The DailyFX Education Summit will be held online from September 15 to September 17. Register now!
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Confidence in GBP/USD Ebbs, Gold and US Stocks Suffering Too | Webinar
Trader confidence in GBP/USD is ebbing away as the UK and EU squabble over Brexit. Meanwhile, market sentiment is also souring towards gold and US tech stocks, boosting USD.
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USD/ZAR Latest: Rand Falls on Dismal South African GDP Figures
After a 51% QoQ economic contraction, will USD/ZAR continue its bearish trajectory or will this be the catalyst for a shift in momentum?
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Japanese PM Frontrunner Signals Snap Election, USD/JPY Maintains Range
Japanese PM Frontrunner Signals Snap Election While Pledging Continuation of Abenomics
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Gold (XAUUSD) Price - Pressure on Supportive Trendline Increases as Trading Range Narrows
The price of gold remains stuck either side of $1,930/oz and is pressuring the multi-month supportive trend. Client sentiment is mixed despite retail traders being heavily long.
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British Pound (GBP) Latest: Further Losses Probable, No-Deal Brexit Comes Closer
The EU and the UK remain far apart on their post-Brexit relationship and, as the UK begins to prepare for no deal, GBP/USD and the GBP crosses look like falling further.
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Nasdaq, Dow Jones Could Extend Slide Amid Simmering US-China Tensions
The Nasdaq 100 and Dow Jones Industrial Average may extend declines as President Donald Trump suggests that the US economy could “decouple” from China.
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US Dollar Fundamental Forecast: USD/SGD, USD/IDR, USD/PHP, USD/MYR
The US Dollar may rise against the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit if stock volatility picks up pace, fueling emerging market capital flight.
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ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press Conference
The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clue...
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The Nikkei 225 has bounced at important long-term support and staged a modest turnaround. However, its down-channel endures and will need to...
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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...