Mid-week technical analysis – USD off to intraday correction
The Dollar Index (DXY) has gained nearly 0.6% this week after falling short in the three weeks prior. The greenback has dragged the major currency pairs along as it sheds some profit on Wednesday leading to a bearish correction. Let’s take a technical look at some of the major pairs for the second half of […]
Market Update – The impact of a weak dollar on major instruments
The bulls won last week in the equities market despite the uncertainties concerning the US extra stimulus package. The dollar was on the backfoot against its peers. Thus, the greenback has maintained an inverse correlation with the stock market. Gold bid is maintained despite perceived risk aversion while Oil prices shed some gain. Over the […]
Daily Market Analysis: near zero Fed rates plan supports the Dollar
The dollar jumped by 0.7% on Wednesday after the US Federal Reserve concluded its two-day monetary policy meeting with major focus on keeping the interest rate near zero until 2023. Here is today’s daily market analysis The US Central Bank is unrelenting in its effort to support its economy following the Coronavirus hit. After injecting […]
Gold drops 6.5% in 1 month – should we expect further sell-off?
The yellow metal is down by over 3.5% in September so far, after ending August on a bearish note. In total, Gold drops 6.5% in the last one month (as at the time of writing) as the bearish correction lingers. Risk is back in the markets as optimism rises. Businesses are opening and economies expanding. […]