Fundamental view: The Australian dollar has gone back and forth during the course of last week ending with a bearish candle. The basic logic for the AUD/USD is that of the commodity complex in anticipation of a global recovery as the pandemic relents. That scenario still holds as the final arbiter for 2021 despite the [...]
Fundamental view: Euro fell against greenback in the past week. The US currency received an initial support from the Federal Reserve. Officials did not agree that they intend to taper their bond-buying scheme – but merely talking about rosier forecasts supported yields and the greenback. Jerome Powell, Chairman of the Federal Reserve, seemed to put an end [...]
Fundamental view: Last week, the sharp upsurge witnessed in the US Treasury bond yields provided a support to the USD and caused XAU/USD to suffer losses. The benchmark 10-year reference preserved its bullish momentum and closed in the positive territory on Monday but snapped its five-day losing streak on Tuesday amid a lack of significant [...]
Fundamental view: Pound showed a stronger trend against greenback in the previous week. The BOE has come out of the shadows and supported the pound by all but shelving the option to set sub-zero borrowing costs. The specter of negative rates had been weighing on sterling since the summer but not anymore now. Another positive [...]
