arumcapital

arumcapital

Brent extends its rally on Thursday, refreshing nearly three-month highs around $64.80. The prices keep rising for a third day in a row, lifted by positive risk sentiment, OPEC efforts and geopolitics. The next upside target for Brent comes at $65. Investors continue to expect a progress in US-China trade talks that will ultimately could lead to a deal....

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USD index registered fresh yearly highs at 97.20 on Tuesday but failed to sustain the bullish momentum and corrected lower quite aggressively. A mils selling pressure remains today though the bulls are still in the game for now. After the initial spike, European currencies pared intraday gains and switched to a consolidation mode. Traders decided to take...

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Crude oil prices continue to trade within a limited range for over a month already, being unable to find a clear direction due to conflicting signals. The upside momentum is capped by concerns over trade and global demand, while the selling pressure is limited by OPEC+ efforts and US sanctions on Iran and Venezuela. As such, Brent is now stuck within a...

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Gold prices finished last week on the offensive, though closed in the red. The metal managed to stay above the $1,300 level during the pullback from highs. The main catalyst behind the bearish correction was strength of the dollar that appreciated nearly across the board. Meanwhile, some overbought conditions added to the selling pressure. However, the...

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The euro failed to receive a respite after a recent sell-off and remains under pressure on Friday. EURUSD has settled around 1.1340, trading with a mild bearish bias. In the weekly charts, the pair is within striking distance from the 200-week MA. This region capped the selling pressure on several occasions over the last few months, so a closure below this...

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After a short-term relief, crude oil prices resumed the downside move on Thursday. Brent holds above the $62 handle but could get back below in the short term as investor sentiment in the market remains skeptical and cautious, at least as long as the barrel is trading under the $63 barrier. According to EIA data, US crude oil inventories climbed by 1.3...

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A combination of disappointing UK data and dollar demand sent the pound lower on Tuesday. After a break below the 100-DMA and the 1.30 handle, GBPUSD accelerated its downside move and remains under pressure today, extending the losing streak to a fifth day in a row. Brexit negotiations deadlock adds to the bearish pressure on the cable. It is reported that...

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The dollar has finally left behind the recent dovish shift in the Fed’s tone. It looks like that traders have digested an updated message from the central bank and now shift focus to the incoming economic data from the US.  The greenback receives some support from this front. Friday’s US jobs report exceeded expectations strongly, confirming the solid state...

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The common currency is grinding lower on Monday after attempts to break above the 1.15 barrier failed last week. EURUSD has settled around the 100-DMA, unable to decide on a clear direction as a mixed US Nonfarm Payroll report puzzled the markets on Friday. The labor market data didn’t give any significant support for the greenback as traders continue to...

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Brent crude futures are trading lower on Friday as concerns over China reemerged after another report showed that factory activity in the country declined the most in nearly three years. Traditionally, weak figures from the second-world’s economy makes traders worry about the prospects for global growth and oil demand. On the other hand, the market is...

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Gold is within striking distance of the $1324, trading at fresh eight-month highs on Thursday. The yellow metal is on the rise for a fifth day in a row already. Much of the gains are due to dollar weakness that intensified flowing the FOMC meeting. Powell expressed a more dovish tone and confirmed the central bank’s intention to pause hiking rates. The...

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Speculations about further US sanctions on Venezuela propped up oil prices. But the reports failed to give a substantial lift to the markets, the same as the recent sanctions on the country’s energy sector imposed on Monday. Brent is changing hands marginally above the $61 threshold on Wednesday after brief attempt to challenge the intermediate resistance at...

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The Australian dollar suffered steep losses in December amid more evidence of a slowing Chinese economy. In January, the Aussie made recovery attempts and has partly offset the previous decline, However, the downside risks for the pair are still there and the selling pressure may intensify in the days to come. The key reasons behind the indecisive AUDUSD...

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The deal to reopen the US government failed to lift USD sentiment as traders are shifting their focus to the upcoming Fed meeting. The bearish expectations are feeding into a broad-based dollar selloff, which in turn fuels an aggressive rally in the precious metal. On Monday, the bullion registered fresh six-month highs above the key psychologically important...

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The pound was rejected from early-November highs above 1.31 reached earlier in the day but remains elevated, preserving the bullish bias in the daily and weekly charts on Friday. The UK currency is supported by the receding risks of a no-deal Brexit as well as the potential DUP backing of May’s Plan B. The party hinted it could say ‘yes’ if the plan includes a...

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Oil prices struggle to resume the upside momentum on Thursday against the backdrop of stronger dollar demand, global growth slowdown worries, and the unexpected build up in US crude stockpiles. Brent lost nearly 1% yesterday and makes shallow recovery attempts around the $61 figure on Thursday. There is a factor that caps the downside impetus in the oil...

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USDCHF consolidates its recent gains to near six-week tops as the pair continues its upside move from the lows around 0.97 registered on January 10. The price is changing hands within striking distance from the 1.00 round figure which is a ‘hit or miss’ moment for the pair. Despite the investor sentiment remains subdued and risk aversion prevails, CHF fails...

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EUR/USD turned negative on Tuesday following timid recovery attempts at the start of the trading week. The euro is pressured by a sell-off in risky assets amid the signs of rising tensions between the US and China as well as ahead of the World Economic Forum in Davos, where the attendees could express concerns over the global growth. The dollar demand picked...