Resumes decline after testing Bearish Flag breakdown

Resumes decline after testing Bearish Flag breakdown

The Euro (EUR) gives back a majority of its early gains against the US Dollar (USD) after failing to rise above the intraday high of 1.1418 on Monday. During European trade, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades almost 0.2% higher to near 1.1395. The major currency […]

Energy risks cap recovery against US Dollar – ING

Energy risks cap recovery against US Dollar – ING

ING’s Francesco Pesole notes that EUR/USD has rebounded above 1.140 on lower Oil prices but argues the move looks optimistic without a clear de-escalation in geopolitical tensions. Pesole stresses that elevated European gas prices are hurting the Euro’s terms of trade, while upcoming Eurozone data are unlikely to deliver enough domestic support to offset Dollar-safe-haven […]

Gold edges higher as US-Iran talks, oil slide pressure USD before FOMC

Gold edges higher as US-Iran talks, oil slide pressure USD before FOMC

Gold (XAU/USD) opens with a bullish gap at the start of a new week, though it struggles to capitalize on the momentum or find acceptance above the $4,100 mark as bulls seem reluctant ahead of the crucial FOMC meeting, starting on Tuesday. Crude oil prices slump around 5% amid reviving hopes for a diplomatic resolution […]