Fundamental view: EUR seemed to be stronger than the greenback in the past week. The greenback retains the doubtful honor of being the weakest currency across the FX board, undermined by mounting virus concerns, but also but resurgent demand for the pound after the UK Parliament backed the post-Brexit deal. The EU hasn’t published macroeconomic [...]
Fundamental view: The US dollar has initially tried to rally during the week against the Japanese yen but yen managed and formed a bearish candle in the week. There was a lot of downward pressure in the past week due to broad US dollar weakness. Furthermore, we have the US Senate runoff elections in Georgia that could [...]
Fundamental view: The British pound pulled back a bit during the course of the week, but then turned around to form a bullish rally. The pound surged on the broad dollar’s weakness and despite a tepid market’s mood. In the past week, the UK reported over 50K new coronavirus cases, resulting in UK Health Secretary Matt Hancock announcing [...]
Fundamental view: Gold ended the year with a bullish bias, supported by a US dollar decline. It gained 22% over the year. The pandemic was the catalyst for the rally in 2020, and increased the safe-haven demand for the yellow metal. The epidemic in the U.S. also triggered an expansion in monetary policy easing that led to abundant liquidity and negative real interest [...]
