NZD/USD closed above 0.66 on Wednesday, invalidating a double top bearish pattern.  Daily chart indicators continue to call a bearish move.  The NZD/USD pair clocked a session high of 0.6628 a few minutes before press time, having closed above 0.66 on Wednesday.  The pair's break above 0.66 has inv

#USOIL# Still waiting for the breakout..

The Washington Post has reported that the Trump administration has banned the import of certain apparel and computer parts from China, saying they are made by forced labourers from the Xinjiang region. Lead paragraphs The move adds five new Chinese entities to an import blacklist the United States

India's industrial production continued to decrease sharply in July, driven by a steep drop in manufacturing, despite businesses re-opening gradually following a lockdown to battle the coronavirus. Industrial production dropped 10.4 percent year-on-year in July, data from the statistics ministry s

WTI prints a four-day losing streak while attacking the lowest levels since July 10. Saudi Aramco cut Arab Light to Asia to a discount against the benchmark for the first time since June. Trading sentiment stays sluggish amid the virus woes, Sino-American tussle and the US dollar strength. US holida

Daily Pivots: (S1) 1.3146; (P) 1.3182; (R1) 1.3248; GBP/USD’s break of 1.3267 resistance suggests resumption of recent rise from 1.1409. Intraday bias is back on the upside with focus on 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. Sustained break there will pave the way to 1.3514 stru

Chinese markets are adding 2-3% on Monday morning after reports that the People's Bank of China will expand medium-term lending for the financial system. The promise of capital feeds the growth of Chinese markets. For Europe and the US, this news neutralizes negative factors, with futures on indices

Photo: FM The Bank of Namibia, the central bank of the country, has recently reiterated its position on online foreign exchange (forex) trading, as protestors take to the streets after their money was withheld in relation to an FX scam. In particular, the central bank has highlighted in a statemen

Asia Market Update: Asia opened mixed, Nikkei lags amid drop in USD/JPY; Nasdaq FUTs outperform after tech earnings (FB, GOOGL, AMZN, AAPL); China Jul PMI data was mixed; Precious metals rose as USD weakened. General Trend: - US politicians have yet to announce stimulus deal, negotiations continue -

Dollar index remains under pressure near multi-month lows. Risk-on keeps the safe-haven US dollar under pressure.  Sentiment around the greenback remains bearish in Asia with the dollar index, which measures the value of the American currency against majors, languishing near the 4-½ month low of 95

NZD/USD's daily chart shows a golden cross of 50- and 200-day SMAs.  Crossovers are lagging indicators and move above 0.66 is needed to revive a bullish trend. NZD/USD is trading at 0.6558 at press time, representing a 0.43% gain on the day.  The pair has charted a golden crossover on the daily cha

Austria's wholesale prices fell for the fifth straight month in June, data from Statistics Austria showed on Tuesday. The wholesale price index declined 5.1 percent year-on-year in June, following a 7.9 percent fall in May. Prices for other petroleum products declined 33.6 percent annually in June.

After an impressive rally in the previous session, which saw the Nasdaq reach a new all time high, the S&P close higher for a fifth straight session and the FTSE book a 2% gains, investors are pausing for breath on Tuesday. Expect in China that is, where the state talking up the importance of fo

USD/IDR marks another failure to rise beyond 14,620. 14,380 might offer immediate support ahead of the triangle’s lower line. Bulls can aim for 15,000 on the upside break of the formation. USD/IDR seesaws around 14,500 while heading into the European session on Thursday. The pair earlier took a U-t