Currencies generally gained against the US dollar on the session, in small ranges and not all did. It was as a retrace of just some of the overnight moves that saw them lose ground. EUR, AUD, NZD all drifted up 20-odd ticks or so. Cable was flat, which is a bit of win for it relatively speaking afte

USD/JPY fades recovery moves while trying to keep Friday’s mild gains. Brexit pessimism fans risk-off, US-China tussle, cautious move ahead of Japanese PM election offer background music. US off can restrict market moves amid a light calendar in Asia, Japan’s Leading Economic Index eyed. USD/JPY se

EUR/USD hits a high of 1.1920 in Asia.  The bull flag breakout suggests scope for further gains.  EUR/USD jumped above 1.1910 during Monday's Asian trading hours, triggering a bullish flag breakout on the 15-minute chart.  A flag is a continuation pattern – it accelerates the preceding move. The cu

The FTSE 100 has struggled in early trading, falling sharply as big mining stocks drop back, but the malaise is wider than that, with other European markets falling as well. Worries about economic rebound hit stocks. UK-listed miners come under pressure. BoE’s caution fails to hold back sterli

Photo: Swiss Stock Exchange, Zurich (Bloomberg) Switzerland’s main stock exchange has given a green light to the self-described world’s first actively managed crypto exchange-traded product. The Bitcoin Capital Active ETP (BTCA) has secured all regulatory approvals to start trading on the Six exch

Speaking to reporters after a cabinet meeting on Friday, Japanese Finance Minister Taro Aso dismissed reports that the coronavirus stimulus spending may force the government to ditch its 2025/26 fiscal target. Key quotes “I’m aware there are negative factors, including extra budget spending, surroun

Gold prices seesaw in a choppy range near the highest since November 2011, an inch closer to $1,800. Stock bulls seem to step back as coronavirus woes attack hopes of the economic restart. ETF holdings remain strong, geopolitical tension adds to the safe-haven demand. Gold prices ease from the mult

Tests 100 hour MA The EURUSD has moved back toward the 100 hour MA at 1.12695. Earlier in the day, the price dipped below that level only to fail and run up toward the 1.1302 area.  Sellers came in near that level.   Now the price is retesting that moving average level. Below it sits a upward slopin

USD/JPY The rally within the medium term range has been scuppered as a “bearish engulfing” daily candlestick formed yesterday to break the mini recovery uptrend. The momentum in the move has been lost as Stochastics are crossing back lower this morning and MACD lines tail off again even before they

Morgan Stanley strategists believe a new cycle has started and a recovery could be more normal than investors expect, therefore, there is room for the S&P 500 to rise 12% through June 2021. Key quotes “Morgan Stanley strategists have increased their base-case equity targets across the board with