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Here is what you need to know on Thursday, August 6: The US dollar remains on the back foot while gold shines, following experienced on Thursday, partially in response to hints of weak Non-Farm Payrolls. US jobless are eyed on Thursday. Hopes of a coronavirus vaccine boost markets while ongoing fisc

EUR/USD – A NEW TWO-YEAR HIGH After hitting a new two-year high of 1.1916, EUR/USD is now trading in the middle of today’s range at 1.1865 and needs a new driver to make or break the recent rally. With the US dollar the main influence on the pair, Friday’s US Jobs Report is now key and will likely s

USD/CHF seems to be resuming the core bear trend, reinforcing the view that a major top is in place with support seen back to 0.9056/47 before the 0.9000 psychological mark. On the flip side, resistance moves to 0.9139, per Credit Suisse. Key quotes “USD/CHF is back under pressure with the core bear

USD/CNH aims to recover from five-month low while bouncing off 6.9321. Oversold RSI conditions suggest further pullback but 61.8% Fibonacci retracement guards immediate upside. March month’s low can please sellers below the near-term key trend line. USD/CNH pulls back from multi-week low to 6.9458

USD/JPY's 15-minute chart shows a bearish channel.  A breakout would open the doors for a re-test of Wednesday's high.  USD/JPY is trapped in an expanding descending channel, as seen on the 15-minute chart. A convincing move above the channel hurdle, currently at 105.57, would confirm the breakout

This week we are starting to see oil cuts being rolled back, the historic supply cut agreement we have seen for much of the 2020 year ended on July 31. Concerns over too much oil supply have already affected markets this week with worries that several nations had increased production ending their vo

Dollar turns soft again after momentum for rebound faded quickly. Euro and Swiss Franc are back in control even though they’re still generally range bound. Australian Dollar is following closely after RBA stands pat as widely expected. Recovery is still expected and the central didn’t sound concerne

Earlier in the Day: It’s was a busy start to the day on the economic calendar this morning.  The Kiwi Dollar and the Japanese Yen were in action, with stats from China also in focus. Away from the economic calendar, updates on the U.S stimulus package and COVID-19 continued to be an area of focus. F

USD/JPY recovery bets are off as the greenback faces ongoing challenges. The 100 level is in focus as markets bet in the downside. USD/JPY is currently trading at 105.72 between a range of 105.71 and 106.19, testing lower territory and down0.2% at the time of writing.  The US dollar is struggling t

Dollar starts the month with a much firmer footing, trading broadly higher as the strongest one so far. The rally is particular against Swiss Franc, which is currently the weakest one. Yet the greenback will firstly need to overcome some near term technical levels to convince traders about its under

Earlier in the Day: It’s was a relatively busy start to the day on the economic calendar this morning. The Japanese Yen and the Aussie Dollar were in action once more. While the stats and monetary policy were in focus, the Asian markets also responded to the positive PMIs from Europe and the U.S. Aw

The yield on the US 10-year real or inflation note fell to a record low of -1% on Monday after Wall Street Journal said the Fed may ditch the long-followed strategy of pre-emptive rate hikes to avoid a build up of inflationary pressures in the economy.  The real yield has collapsed by 162 basis poin