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

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

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

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. […]

Euro And Pound With a Tailwind – Is The Rise Going To Continue?

Dear traders, Basically, we got what we have been looking for – price breakouts that provided some profits for traders- even though not as big as we hoped for. The EUR/USD broke above 1.1830 but stopped its rise at 1.1859 – for now. If the pair is able to hold above 1.18, we focus on […]

This Week To Set The Tone Until Year-End

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 […]

Secure Your Profit Now And Fasten Your Seat-belt For Next Week

Dear traders, The European Central Bank stood pat for now and finally did not surprise the market at yesterday’s policy decision. Policy makers, however, paved the way for a fresh easing package in December. The ECB held its pandemic bond-buying program at 1.35 trillion euros, reiterating that it will run until at least June 2021 […]