Event calendar


Gold hangs near YTD lows, remains vulnerable Haresh Menghani

   •  Persistent USD buying interest keeps exerting downward pressure.
   •  Improving risk appetite/pickup in the US bond yields add to the selling bias.
Gold struggled to register any meaningful recovery and remained within striking distance of YTD lows, set in the previous session.With escalating US-China trade...

12:00 20 June /2018 Forex

EUR/USD further weakness unlikely to be sustained – UOB Pablo Piovano

FX Strategists at UOB Group remain neutral on the pair and do not rule out a test of 1.1505 in the next weeks.Key Quotes24-hour view: “EUR dropped sharply to touch a low of 1.1528 yesterday but rebounded quickly. Downward momentum is patchy at best and while a dip to 1.1550 is not ruled out, a break of the 1...

12:00 20 June /2018 Forex

EUR/USD poised to reach 1.20 in medium term – Danske Bank Pablo Piovano

Chief Analyst at Danske Bank Christin Tuxen noted the pair is viewed around 1.2000 in a 6-month horizon.Key Quotes“Short term we think the USD positives (carry appeal of USD, an ECB on hold for an extended period, Italian debt risks) will dominate the longer-term EUR positive impulses stemming from valuation a...

12:00 20 June /2018 Forex

Bitcoin price analysis: BTC/USD Bulls holding tight above $6,550; Coinbase CEO, Brian Armstrong says “I've come to enjoy the down cycles in crypto prices” John Isige

Bitcoin price broke below the bullish flag pattern I explored in yesterday’s price analysis. BTC/USD closed the session on Tuesday at $6,769.94 followed by a sharp descent during the Asian trading hours on Wednesday. The descent is likely a reaction to the hacking that took place on South Korea’s Bithumb exchange where hackers made a...

11:46 20 June /2018 Forex

ECB’s Nowotny: see Euro depreciating against the dollar Haresh Menghani

European Central Bank (ECB) governing council member Ewald Nowotny was out on the wires in the last hour, via Reuters, saying that risk for financial stability in Europe are more political than economical and see Euro depreciating against the US Dollar.The EUR/USD pair witnessed a sudden dip on the headlines and printed a fresh session low level of...

11:23 20 June /2018 Forex

Russia’s Deputy Oil Min: Russia maintains its position on OPEC+ output boost Haresh Menghani

Russia's deputy energy minister Alexey Teksler was out on the wires in the last hour, Russia maintains its position on OPEC+ output increase and is ready to discuss any OPEC+ proposals.Additional quotes:   •  Will discuss everything with other OPEC+ members.
   •  Expect an OPEC+ agreement this week.Market reaction to the comments turned out to be rather muted, with 10:46 20 June /2018 Forex

EUR/USD keeps the negative bias – Commerzbank Pablo Piovano

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair keeps the negative bias for the time being.Key QuotesEUR/USD came under increasing downside pressure yesterday, keeping our negative bias entrenched. We recently saw the markets u...

10:46 20 June /2018 Forex

Nigeria’s OilMin: Too early to say if Nigeria will support OPEC hike Dhwani Mehta

Headlines crossed the wires from the Nigerian Oil Minister Dr. Ibe Kachikwu, as he commented on easing 10:23 20 June /2018 Forex

USD/JPY bulls looking to build on recovery beyond 200-DMA Haresh Menghani

   •  Risk recovery/dovish BoJ minutes weigh on JPY and helps build on overnight rebound.
   •  A follow-through pickup in the USD demand supportive of the mildly positive tone.
The USD/JPY pair held on to its modest daily gains, albeit now seemed struggling to build on the momentum further beyond the very important 200-day SMA...

10:23 20 June /2018 Forex

Sources: Gulf oil producers did not agree on need for oil output increase at Tuesday meeting - Reuters Dhwani Mehta

Reuters two familiar with the talks, citing that the Gulf oil producers did not agree on the need for oil output increase at Tuesday’s technical committee meeting.This headline reaffirms the OPEC headlines reported by TASS earlier today.Key Notes

09:46 20 June /2018 Forex

Iran’s OilMin: OPEC meeting likely to end with no agreement on oil output Dhwani Mehta

CNBC reports the latest comments from the Iranian Oil Minister Bijan Zanganeh, as he speaks about the likely outcome of the June 22nd OPEC meeting held in Vienna.Zanganeh warned: "Every decision in OPEC needs unanimity, and I don't believe in this meeting we can reach agreement." 

09:00 20 June /2018 Forex

Sources: OPEC did not reach consensus on optimal output growth - TASS Dhwani Mehta

The Russian news agency, TASS, quoted unnamed sources, as saying that the OPEC and its allies did not reach a consensus on the optimal output growth.Further Headlines:Iran wants to discuss with Russia on quotas before June 22nd-23rd.Iran wants to take part in OPEC monitoring committee.Also Read: 09:00 20 June /2018 Forex

EUR/USD flirting with lows near 1.1570, eyes on Sintra Pablo Piovano

EUR/USD continues to navigate in the lower bound of the recent range near the 1.1570 region against the backdrop of a stronger greenback, US-China trade war and headlines from the ECB Forum in Sintra.EUR/USD looks to Sintra, US-ChinaThe pair is losing ground for the second session in a row on Wednesday amid...

09:00 20 June /2018 Forex

Forex Today: Aussie rebounds amid risk-recovery, ECB Sintra Forum - Key Dhwani Mehta

Improved risk appetite offered a sigh of relief across the fx board in Asia this Wednesday, as markets shrugged-off the renewed tensions over the US-Sino trade spat. However, most majors held onto tight trading ranges, as markets took a breather ahead of the key panel discussion at the European Central Bank (ECB) Sintra Forum.Amongst the Asia-pac currencies, the USD/JPY pair managed to take on the...

08:23 20 June /2018 Forex

USD/JPY bid, but below 200-day MA, Chinese stocks report losses Omkar Godbole

The stock markets in Asia regained poise, pushing the USD/JPY above 110.00, but a break above the 200-day moving average (MA) of 110.22 remains elusive, possibly due to risk-averse Chinese stocks.At press time, the Shanghai Composite index is reporting a 0.60 percent or 17 point drop. Other major Asian equity indices - Nikkei, S&P/ASX 200, Hang Seng, and Kospi - are flashing green. Meanwhile, ...

07:46 20 June /2018 Forex

EUR/USD could find bids on increased odds of treasury yield curve inversion Omkar Godbole

The EUR/USD is on the defensive, having failed to take out the bearish (falling) 5-day moving average (MA) in Asia, however, the pair may pick up a bid in Europe on fears the US treasury yield curve could invert soon.As of writing, the spread or the difference between the US 10-year treasury yield and the 7-year treasury yield stands at 3....

07:23 20 June /2018 Forex

Bitcoin price analysis: BTC/USD recovers from early losses, the reaction to Bithumb hack may be delayed, but not cancelled Tanya Abrosimova

While Bitcoin managed to recover from the intraday low of $6,557, but it is still vulnerable to further losses. Traditionally, the largest market movements happen during European and American hours, so, early losses may be just the beginning of a new bearish wave. Currently, BTC/USD is changing hands at $6,610, supported by $6,560/50 with ...

06:23 20 June /2018 Forex

Gold risk reversal bias favors put options Omkar Godbole

Gold one-month 25 delta risk reversals (XAU1MRR) are being paid at 0.05 XAU puts - the level last traded on May 22, vs 1.13 XAU calls on May 14.The shift from call bias to put bias as indicated by the drop in the risk reversals from 1.13 (call bias) to -0.05 (put bias) adds credence to gold's drop to 2018 low of $1,275 and ind...

05:46 20 June /2018 Forex