HelenRush

HelenRush

It is widely expected that the upcoming ECB meeting will be a non-event, it may affect the euro’s dynamics anyway, with the central bank’s rhetoric being in focus. It is possible that the regulator’s tone will start changing in the context of a policy review. It will be interesting if the bank acknowledges the improving economic data in the Eurozone, and how it...

HelenRush

In the first half of the day on Tuesday, EURUSD climbed above the 1.11 handle, mainly due to unexpectedly upbeat ZEW survey out of Germany. However, stronger dollar coupled with the prevailing risk aversion prevented the pair from turning bullish. The euro was rejected from local highs around 1.1120 and settled around 1.1080. Rising concern over a new strain...

HelenRush

Oil prices made some upside attempts on Monday, driven higher by fears about supply disruptions amid unrest in Libya. Brent climbed to $65.70 but failed to stay elevated and slipped back to $65. On Tuesday, the futures extended losses and have encountered a local support around $64, marginally above the 200-DMA. The recent decline was due to a massive risk...

HelenRush

Despite a rise in global stocks, gold prices appreciated to one-week highs just below $1,563 on Monday and remain close to the upper edge of the current trading range. Risk appetite remains elevated, with many global equities have been trading at record highs these days. Still, the precious metal remains afloat as some investors continue to express a cautious...

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The USDJPY pair extended gains to fresh May 2019 highs around 110.30 early on Friday. The rally was helped by upbeat economic data out of China. China GDP growth in 2019 was 6.1%, in line with expectations. Despite the growth rate was the slowest in 29 years, the report was perceived as positive because many investors feared the numbers could come even lower,...

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As investors have already priced in a phase-one deal between the US and China before the event, the ceremony itself caused only a short-lived positive reaction across the markets. So, following a brief rally, risky assets mostly retreated while Asian stocks saw a muted and mixed reaction early on Thursday. Currencies were even more apathetic to the event. ...

HelenRush

EURUSD remains under pressure after failed attempts to break above the immediate resistance in the form of the 200-DMA around 1.1140. As such, the pair remains stuck within a bearish channel, with risks pointing to the downside in the near term despite dollar demand is fairly muted at this stage. Ahead of signing the first phase trade deal between the US and...

HelenRush

Gold prices continue to decline on Tuesday and registered two-week lows around $1,535. The precious metal has trimmed intraday losses since then but remains under the selling pressure as market sentiment improves ahead of the ceremony of a phase one deal signing due tomorrow. But as this event has been priced in already, the downside risks for the safe-haven...

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Crude oil prices remain on the defensive on Monday, nursing losses for a sixth day in a row, as traders continue to react to de-escalation in geopolitical tensions between the United States and Iran. Amid profit taking, Brent was rejected from highs around $71, down to the $64.50 area. At the start of a new trading week, the futures are desperately trying to...

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The greenback saw mixed dynamics on Thursday as safe-haven demand has waned somehow amid easing geopolitical tensions in the Middle East amid the US-Iran conflict. As Trump has calmed down global markets, the threat of a full blown war receded, along with risk aversion. Now, market focus gradually shifts to the upcoming US jobs report due later today. As a...

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Crude oil prices extended gains on Friday and registered fresh September highs just above the $67 handle. The futures finished marginally below this level and was the fourth weekly gain in a row. Brent has been following the upbeat sentiment in the stock markets, where a Santa Claus rally continues, backed by a widespread investor optimism over the US-China...

HelenRush

USDJPY gained on Thursday but has once again encountered a local resistance around 109.70. Today, the pair struggles to keep its upside momentum, trying to cling to the 109.50 area in order to avoid a deeper bearish correction. In general, the sentiment looks upbeat, mainly due to a better risk sentiment. At the same time, the 200-SMA in the weekly charts which...

HelenRush

Gold prices made an important breakout on Tuesday, accelerating the rally since the start of the week. The sudden spike was due to a combination of thin liquidity due to a Christmas holiday and the retreat in the dollar index back into the red territory. As a result, the yellow metal rallied above the 100-DMA and registered six-week highs around the $1,500...

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During a strong sell-off late last week, EURUSD derived support around the 100-DMA which capped the downside pressure on Monday as well. The decline was mostly due to a pickup in dollar demand on the back of decent US GDP and PCE data – the figures mostly came in line with expectations and helped to further ease market concerns over a possible recession in the...

HelenRush

Crude oil prices continue to drift lower on Monday, extending the decline after a rejection from highs on Friday. Brent crude dipped below the $65 figure and is now trying to cling to this level on order to trim losses. The bearish correction looks appropriate after a period of strong gains. Ahead of Christmas holidays in the Western countries, many traders...

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Gold prices continue to show sideways dynamics, trading in a tightening range since the start of the week. Price action is muted amid the lack of trade-related news, which makes markets directionless in the second half of December. The yellow metal registered one-month highs around $1,486 last week and has been consolidating in the $1,475 area since then. On...

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Brent crude registered fresh mid-September highs around $66.20 on Tuesday but failed to confirm a bullish break and finished below $66. Today, the futures struggle to resume the ascent and hint toward a potential bearish correction, though in general, prices stay elevated within the upside trend. Rejection from fresh highs was due to overbought conditions...

HelenRush

Gold prices extend gains for a third day in a row after a rejection from more than one-month highs last week. The bullion has been making bullish attempts below $1,480, with upside bias persisting despite risk sentiment improved on Tuesday after fresh all-time highs in Wall Street overnight. Still lack of safe-haven demand prevents the precious metal from making...