EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.1775; (P) 1.1829; (R1) 1.1869;
Intraday bias in EUR/USD remains on the downside at this point. Fall from 1.2011 is seen as corrective whole rise from 1.6035. Deeper fall should be seen to 38.2% retracement of 1.0635 to 1.2011 at 1.1485. For now, risk will stay on the downside as
Russian FX Dealer PSB-Forex to Voluntarily Revoke its Licence
Photo: iStock
There’s about to be one less player in the Russian foreign exchange (forex) market as Promsvyazbank, an FX dealer, is preparing to submit an application to the country’s central bank to voluntarily revoke the licence of PSB-Forex LLC.
On Wednesday PSB-Forex, the FX subsidiary of Prom
Turkey's current account deficit to narrow in 2H 2020 and support Lira - IIF
Robin Brooks, Chief Economist at theIIF, expects Turkey's current account deficit to narrow sharply in the second half of 2020 and support lira.
As such, the IIF is retaining its TRY fair value target of 7.5 per US dollar, despite the currency's recent slide to a record low of 7.35 per US dollar. T
HEAD AND SHOULDER IN GBPUSD
#GBP/USD#
Hello, my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis. As we can see, the price has made a Head&Shoulder Pattern and is now close to its neckline. Wait
Sterling and BoE preview
Sterling put in a rare week of outperformance last week, printing a new 5-month peak against the USD, 3-week highs versus the EUR and 8-month highs against the JPY.
There are some positive factors with regard to the UK. One is the pick-up in the pace of economic recovery, as evidenced by;
the much s
French FinMin Le Maire: GDP figures were not as bad as some had feared
Commenting on the French Q2 GDP report, Finance Minister Bruno Le Maire said the latest GDP figures were not as bad as some had feared.
Additional quotes
“We can improve matters, regarding the economy.”
“There are positive elements within the French economy.”
“We must continue with radical measures
Ireland’s 5 AMLD Limbo – Another One Bites the Dust?
Photo: Ella Rosenberg
Ireland, which for years has served as a financial and research and development for many companies, has been hit last week with an unprecedented judgment by the Court of Justice of the European Union (hereinafter- CJEU). The CJEU has slapped Ireland with a fine of 200000 EUR
Silver: Potential for a test of $30 in next 12 months –Citibank
Analysts at Citibank offers its bullish outlook on Silver, predicting that the white metal could rise as high as $30 over the coming year.
Key quotes
“Sees silver rising to $25 in the next six to 12 months, with a potential for $30 based on the bank’s bull case.
Silver is additionally supported by a
AUD/USD keeps losses as China data shows continued deflation in factory-gate prices
AUD/USD keeps losses as China's PPI registers a bigger-than-expected drop.
Sustained deflation in factory-gate prices is bad news for commodity dollars and risk assets.
The rising number of coronavirus cases keep risky assets under pressure.
AUD/USD remains on the defensive following the release
Market mood AUD/USD [Video]
Listen to the latest market mood for the AUDUSD pair.
Asian equity markets and futures markets have traded mixed overnight. The Hang Seng -0.61% and the Shanghai Comp +1.46% are off their best levels for the day on a liquidity drain from the PBoC and with Chinese Press calling for rationality in
