Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
WTI oil ended the trading day close to a yearly high on Wednesday, due to US reserves falling sharply (by close on 1 million barrels) during the week according to the latest data from US authorities. At 21:40 UK time, the commodity traded at $55.82 a barrel up 1.97%. Precious metals experienced a mixed day’s […]
Equity and currency markets trade in narrow ranges due to inconclusive calendar data Read More »
European markets rallied from the London open during Tuesday’s sessions. The latest GDP figures for the Eurozone and individual countries provided investor optimism that if the COVID-19 vaccine rollouts are successful, growth will quickly re-appear. GDP for the Euro Area beat forecasts coming in at -0.7% for Q2 2020 after a revision for Q3 revealed
Silver’s market price rose to an eight-year intraday high of just over $30.00 per ounce during Monday’s trading sessions, breaching R3 before slipping under that critical psyche handle, ending the day trading close to R2 and at $28.78, up 6.79%. Analysts and market commentators suggested that the cohort of Reddit activist traders, who allegedly helped
Last week’s trading sessions ended with many global equity markets selling off as the risk-on sentiment dominating investor thinking over recent months suddenly evaporated. The SPX 500 closed Friday’s New York session down –2.22% on the day and –3.58% weekly and the NASDAQ 100 –2.36% down during the Friday session and –3.57% weekly. The NASDAQ
The leading US equity markets bounced back on Thursday after experiencing a sell-off during Wednesday’s sessions. Wall Street banks and brokers voiced their relief after online brokers such as Robin Hood, Ameritrade and Interactive Brokers suspended trading in stock such as GameStop, AMC and Blackberry. These equities have been the subject of intense speculation by
The confusion and arguments over vaccinations from AstraZeneca and Pfizer between the UK and EU, negatively affected overall sentiment in all European equity markets. France’s CAC index ended the day down -1.26% while the UK FTSE 100 closed out the day down -1.37%. Germany’s DAX index plunged to a five-week low during Wednesdays’ sessions. The
On Tuesday, European equity markets rebounded after some impressive earnings reports combined with a positive global growth report from the IMF to improve investor sentiment. Germany’s DAX index closed out the day up 1.66% while France’s CAC was up 0.93%. The euro experienced mixed fortunes during the day; EUR/USD traded up 0.19% at 8:30 pm
The German Ifo Business Climate indicator fell to 90.1 in January from the revised 92.2 recorded in December 2020, coming in below the market forecast of 91.8 as German companies voiced less optimism about the current domestic conditions. The reading appeared to impact Germany’s leading index, the DAX 30, which closed the European session out
It’s a busy week for economic calendar events and data releases from the USA. The Fed announces its interest rate decision on Wednesday evening. There is no expectation that the key interest rate will change from 0.25%. At the same time, investors’ attention will turn to the monetary policy announcement made by Jerome Powell (the
As expected, the ECB announced that the key interest rates for the Eurozone region would remain unchanged on Thursday. During the press conference that followed the announcement, the ECB president Christine Lagarde revealed that the current QE/asset-buying programme would not get altered unless economic conditions worsened. The recent commitment by the ECB is 1.85 trillion
