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EUR/USD Price Analysis: Fades bounce off 50-day SMA above 1.2100

EUR/USD sellers probe intraday low while defying the previous day’s U-turn from 50-day SMA. Bearish MACD, failures to keep recovery moves from the key SMA favor sellers. EUR/USD teases intraday low of 1.2137 amid the recent fall during the initial Asian session on Tuesday. The major currency pair marked the heaviest losses in over a

BoJ Minutes: US dollar weakening moderately vs yen, must be vigilant to market moves including fx

The minutes of the last Bank of Japan meeting are trickling their way through the worse. Of note, a few members said that the US dollar was weakening moderately vs yen and that they must be vigilant to market moves, including fx. More minutes A few members said dollar weakening moderately vs yen, must be

AUD/USD struggles to hold 0.7700 amid risks recovery, off in Australia

AUD/USD snaps two-day losing streak, while extending bounce off one-week low, despite recently easing from intraday top. Vaccine news battles uncertainty over the US stimulus, mixed headlines from China gets less audience. US Senate Confirms Jannet Yellen as Treasury Secretary, No major data up for publishing amid Australia Day off, updates concerning virus/vaccine and US

USD/CAD Price Analysis: Keeps pullback from five-week-old resistance line above 1.2700

USD/CAD snaps two-day winning streak while easing from one-week top. Strong RSI, sustained trading beyond 21-day EMA favor bulls. USD/CAD consolidates recent gains around 1.2740 during the initial Asian trading on Tuesday. The loonie pair jumped to the highest since January 18 the previous day while piercing a downward sloping trend line from December 21.

GBP/NZD Price Analysis: Bears lining up for a downside continuation

GBP/NZD is gearing up across the time frames and offers a synchronised downside bias. The bulls are testing critical resistance where failures are expected to confirm next bearish leg. The cross has been stalling at daily support while the market takes on the monthly and weekly resistance.  The following is a top-down analysis that illustrates

WTI eyes to regain $53.00 as vaccine news battles risk-off mood

WTI keeps recovery moves from $51.80 as risks recover. Updates from Moderna, AstraZeneca and Israel’s Maccabi Health Services favor risks. Geopolitical problems in Libya, Russia joins Iraq’s production cut news to help the oil bulls. API data, virus/vaccine updates and US fiscal package news will be important to watch. WTI remains firm at around $52.85

Senate now voting to confirm Janet Yellen as Treasury Secretary

US Senate voted to confirm Janet Yellen as the new Treasury Secretary. The US has its first-ever female Treasury Secretary as the 78th Treasury chief. There are no details on when Yellen will be sworn into office. The market had already presumed the fact so there is no reaction.  However, Janet Yellen has signalled she will take a

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