Fundamental view: In the last week, Increased tensions between US and China, Historic EU deal supported gold. Fed's open door to doing more implies further dollar weakness. Number of new Covid-19 cases weakens dollar and Gold saw the benefit from that. U.S. data showed the deepest economic contraction leading to a bullish move. We expect the [...]
Fundamental view: In the last week, USD cyclical downturn reinforces Bitcoin rally. Goldman Sachs’ strategists say that U.S. dollar is at risk of losing its status as the world’s reserve currency. Other factors that affect the greenback are the increased political uncertainty and growing concerns of another corona virus infection spike created a favourable environment [...]
Fundamental view: UK M4 Money Supply monthly report on 29th, US Goods Trade Balance on 29th US Core Durable Goods Orders monthly report created bearish move for the pair whereas UK CBI Realized Sales on 28th, US CB Consumer Confidence on 28th created favorable environment for GBP and favored a bullish trend for the pair. [...]
Fundamental view: US Crude Oil Inventories on 29th, US Advance GDP quarterly report on 30th, US Personal Spending monthly report and Chicago PMI on 31st made the pair move upwards whereas US Core Durable Goods Orders monthly report on 27th July, Japan Retail Sales yearly report on 29th and US S&P/CS Composite-20 yearly report on [...]
