Forex News

EUR/JPY bear trend remains intact close to 2020 lows. The level to beat for sellers is the 117.50 support.   EUR/JPY daily chart   EUR/JPY is consolidating the recent bear leg near the 2020 lows as the quote is trading below its main daily SMAs (simple moving averages) suggesting an overall downward momentum for the…

XAG/USD bounced from 20-day SMA near 14.25 on Monday. Initial hurdle for the pair aligns at 15 ahead of 15.30. After falling to 14.25 earlier in the day, the XAG/USD pair gained traction supported by the 20-day SMA. The upbeat market mood on slight improvements seen in coronavirus infection and fatality figures on Monday seems to…

XAU/USD starts the week by beaking to three-week’s highs.  The level to beat for bulls is the 1660 resistance.    XAU/USD daily chart   Gold is trading in three-week’s highs while above its main DMA (daily simple moving average) suggesting that bulls remain in control of the market.    XAU/USD four-hour chart   Gold is trading…

"We hope to launch a big initiative this week to accelerate research and development of vaccines and design a mechanism for equitable distribution," World Health Organization (WHO) chief Tedros Adhanom Ghebreyesus said on Monday, per Reuters.  Additional takeaways from WHO officials "Large numbers of unrecognised transmission may be missed currently, but we need to see the…

Oil consolidates last week’s gains while trading below the 28.00 handle.  Support is seen near 24.00 and 22.00 levels.    WTI daily chart   WTI is consolidating the advanced it made in the last three sessions as the market is digesting the Trump tweet suggesting that a Saudi-Russian deal has been made.    WTI four-hour…

The latest data published by Italy's Civil Protection Agency revealed that the total number of confirmed cases in the country rose by 3,599 to 132,547 to register its lowest daily increase in three weeks. The death toll, meanwhile, increased by 636 as of Monday morning to 16,523. Moreover, the number of people in intensive care declined…

There are no ongoing talks with oil companies in Norway about production cuts, Norway's oil minister on Monday but reiterated that they were willing to make unilateral output cuts if other producers also agree to cut. "We will consider a unilateral cut in output if it contributes to our own resource management and economy," the…

Data released on Monday showed a significant decline in business confidence in Canada during March. Krishen Rangasamy, analysts at the National Bank of Canada warns the report was conducted between February 11th to March 6th, before the coronavirus crisis intensified.  Key Quotes: “Business confidence not surprisingly took a beating in the first quarter. The aggregate…

Mexican peso turned positive versus the US dollar and recovered from all-time lows.  USD/MXN falls to 24.72 during the American session, after reaching 25.77. The Mexican peso opened the week falling across the board following Mexican President Andres Manuel Lopez Obrador (AMLO) announcements during the weekend. The USD/MXN jumped to 25.77, hitting a new record…

EUR/USD is consolidating losses near the 1.0800 handle. The level to beat for bears is the 1.0776 support.     EUR/USD daily chart    EUR/USD is under pressure below the 1.0900 figure while trading below the main DMA (daily simple moving average) as DXY (US dollar index) is consolidating gains this Monday.   EUR/USD four-hour chart…