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British Pound Sharply Falls on Prospects of a No-Deal

December 7, 2020 in /by

Dear traders, Friday’s disappointing U.S. employment data had little impact on the haven-linked U.S. dollar which largely underperformed. We decided not to trade Friday’s choppy movements in EUR/USD and GBP/USD and stayed on the sidelines. Elsewhere, global equities aimed mostly higher as the world moved closer toward the first doses of a coronavirus vaccine. The […]

GBP/USD Touches 1.35: Are Sterling’s Best Days Behind it?

December 4, 2020 in /by

Dear traders, The British pound touched 1.35 and thus climbed to the highest level since December 2019. Many analysts now believe that profit taking could be around the corner, sending the pound lower. Although some investors are still betting on rising prices when a trade deal is signed, many hedge funds have already increased short […]

Global Equities Rally, U.S. Dollar Weakens

November 25, 2020 in /by

Dear traders, Global equities were on course for the best month on record amid a usually quiet Thanksgiving holiday week. The U.S. dollar held its decline while speculation that Coronavirus vaccines and a possibly peaceful presidential transition are steps toward normalization in the economy drove U.S. shares higher and the Dow Jones to a record […]

U.S. Dollar Strengthens on Better-Than Expected PMI Data

November 24, 2020 in /by

Dear traders, The best performer Monday was the British pound that rallied as signs the U.K. and European Union are close to agreeing a trade deal. The latest progress in the development of a coronavirus vaccine bolstered the currency’s upward move. Bulls in the GBP/USD profited while sterling rose to the highest level since early […]

No Big Market Moves

November 18, 2020 in /by

Dear traders, The British pound rose to a high of 1.3273 Tuesday as the U.K. and European Union edge closer to agreement on longstanding sticking points. A possible breakthrough could be announced as soon as Monday while there is still potential for the negotiations to collapse. GBP/USD: The cable will now need to overcome the […]

DAX Jumps To Almost 13300 on Covid-19 Vaccine Hopes

November 10, 2020 in /by

Dear traders, Stocks surged amid Covid-19 vaccine developments that fueled optimism that the world will soon have a potential way out of the pandemic. However, questions about safety and efficacy of the shot remain while it is still too early. The DAX jumped to the highest level in almost two months, reversing shy of 13300. […]

This Week To Set The Tone Until Year-End

November 2, 2020 in /by

Dear traders, We welcome you to a crucial trading week that has a potential to set the tone for financial markets for the rest of the year. The main event will be tomorrow’s U.S. election, with Democratic nominee Joe Biden leading President Donald Trump in polls. However, the senate may matter more for the markets […]

Final U.S. Presidential Debate Leaves Market Unaffected

October 23, 2020 in /by

Dear traders, While the tone of the final U.S. presidential debate was much more civil that the first debate it gave traders little reason to shift their stances before the election on November 3 with the market showing no reaction during the debate. The U.S. dollar traded slightly higher against the euro and pound but […]