Forex

The German economy rebounded sharply in Q3, beating expectations, but the single currency is facing technical headwinds as it attempts to push higher against the US dollar.

GBP/USD is well placed to hit the September 1 high at 1.3483 if resistance at the 1.34 ‘round number’ can be topped amid optimism about a post-Brexit EU-UK trade deal.

The Dow Jones and Russell 2000 indices seem poised to extend gains, buoyed by coronavirus vaccine progress and the triggering of the US presidential transition process.

Gold pricesfell to a 4-month low following encouraging coronavirus vaccine trial results from Astra-Oxford. The world’s largest gold ETF has suffered an accelerated pace of redemption in recent weeks.

The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week.

An updated NOAA temperature outlook injected some bullishness in natural gas futures to start the week. Price action is still sharply lower for November and the path ahead likely depends…

Asia-Pacific stocks look set to trade higher as the General Services Office (GSA) informed president-elect Joe Biden that it is ready to begin the transition. The Astra-Oxford vaccine also boosted…

The New Zealand Dollar soared, and may extend gains after the government proposed adding housing prices to the RBNZ’s remit. NZD/USD is eyeing summer 2018 peaks, AUD/USD faces key support.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/CHF-bearish contrarian trading bias.

The Euro looks poised to continue gaining ground against the haven-associated counterparts and may reverse higher against the British Pound in the near term.