USD/INR – The Indian rupee opened lower against the dollar ahead of crucial trade talks between the U.S. and China. The rupee opened at 69.88 versus the dollar compared with its previous close of 69.71. Asian equities and currencies extended losses on Thursday before the U.S.-China trade talks. Chinese Vice-Premier Liu He will hold negotiations with U.S. officials on Thursday and Friday in Washington after tensions between the two countries ratcheted higher following President Donald Trump remarks that he plans to increase tariffs on Chinese shipments. The U.S. has accused China of backtracking on previous promises and Trump has said that he is considering taxing all imports out of the Asian nation. Trump said on Twitter yesterday that Beijing had informed Washington that the Chinese Vice-Premier is “coming to the U.S. to make a deal.” He added that if a deal did not materialize, he is “very happy with over $100 Billion a year in tariffs filling U.S. coffers.”
EUR/USD – Against the dollar, the euro was a shade higher at $1.1196, having spent the week stuck in a tight $1.1218-$1.1155 range. EUR/USD remains holed up in the 1.1200 region, shrugging off growing risks that might normally put bears in control. The EU Commission's downgraded outlook , heightened U.S.-Sino trade tensions and 10-year German bund yields trading near -0.05 percent are all factors that should have EUR/USD trading near the 2019 low at a minimum. Bears might be treading cautiously as economic green shoots from the euro zone keep popping up, which could keep the ECB from adding stimulus to the economy as many investors have expected. The U.S. interest rate complex could be limiting the downside as well. If bears don't gain control of EUR/USD soon, odds of an upside move will increase.
15 Nov 2019 06:12 PM
As I write today, I am so tempted to exhibit “I told you so” syndrome.
14 Nov 2019 04:54 PM
Analysing daily chart of gold prices, we observe that after a rally in the prices, there was a pause in the rally and prices started consolidating in a downward sloping box range in the past few months connected by the downward sloping upper and lowe
13 Nov 2019 05:31 PM
Technically, seeing the weekly chart, with an inverted head and shoulder pattern, with the blue left shoulder, red right shoulder and black head, the currency pair is indicating reversal of trend. The shoulder line close to 106.80 and neckline at 109
11 Nov 2019 06:21 PM
Analysing a daily chart, we notice a Price Vacuum took place on 08Nov2019
07 Nov 2019 06:24 PM
Analysing the daily chart of GBPUSD, we observe that the after a continuous rise in the pair, the rally has paused and there seems to be an indecision in the market. We can notice the formation of a pennant by the price action. A pennant is a continu
06 Nov 2019 06:11 PM
UK oil price moved from a low of 56.15 on Oct 3rd – a level last seen in early August, to a high of 63.17 due to slowing global cues; cues not just from the largest economy US, but also from China. Further the pressure from climate activists is mount