The Federal Reserve kept its economic relief programs and the fed funds rate unchanged as expected. Dollar and Treasury rates fall, equities rise, erasing the pandemic loss, and this trend is expected to continue while the US economy is unable to show a robust recovery, FXStreet’s analyst Joseph Tre

Following almost 6-weeks of sideways movement, the AUD/USD market broke through resistance levels around 0.7070-80 (highs of July 2019) and climbed higher. Patrick Bennett from CIBC Capital Markets forecasts the aussie trading at 0.70 and 0.72 by the third and fourth quarter respectively.  Key quote

AUD/USD retreats from the post-Fed swing high to 15-month tops. A modest USD rebound was seen as a key factor exerting pressure. Investors now eye advance US Q2 GDP report for a fresh impetus. The AUD/USD pair added to its intraday losses and refreshed daily lows, around the 0.7140-35 region during

The Federal Reserve has left its policy unchanged, painting a gloomy picture whereas an open door to doing more implies further dollar weakness, exacerbating the falls. Stocks – that have benefited greatly from Fed support – may eventually run out of steam, according to FXStreet’s analyst Yohay Elam

Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes "Earlier fiscal actions by Co

Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes "Should not expect the Fed wi

WTI under pressure on demand-side despite supply cuts feeding through to data. Fed sombre note leaves markets in limbo and looking to GDP as next guide.  WTI is trading at $41.27 at the time of writing in a consolidation of the jittery environment between the $40 and $42 levels. Prices rose slightl

White House Chief of Staff Meadows has said that they are nowhere close to deal on stimulus talks and that he expects extra unemployment benefits to expire. The proposed virus aid package would be the fifth, following the $2.2 trillion (€1.9 trillion) bill passed in March, the largest US interventio

GBP/CAD eases from 1.7368, highest since May 07 amid overbought RSI. A sustained break of the key SMA confluence and 50% Fibonacci retracement keeps the bulls hopeful. 1.7120/15 acts as an additional downside barrier, 61.8% Fibonacci retracement offers immediate resistance. GBP/CAD takes rounds to

Gold prices struggle to keep recoveries following second failure to cross $1,981. RSI conditions suggest cooling of the bull-run for a while. 100-HMA, weekly ascending trend line offers immediate strong support. Gold prices recede to $1,968.60 amid the early Asian session on Thursday. The yellow me

Australia's Victoria State expected to report more than 700 coronavirus cases and up to 13 deaths. Meanwhile, the Aussie has been riding the coattails of a risk-on market in hope of a vaccine and continued stimulus from both central banks and governments. All eyes on the RBA next week However, the f

USD/JPY extends latest recovery despite upbeat Japanese Retail Trade data. Japan’s Retail Trade beat expectations in June, risk-off also in play. US Fed keeps further easing on the table, fiscal action more likely despite deadlock in talks. BOJ policymakers suggest furthering of negative rates if ne

The European Central Bank's (ECB) balance sheet size reached a fresh record high of €6,351.4 billion last week with quantitative easing adding €28.8 billion to total assets.  Notably, the central bank's balance sheet is now equal to 53.3% of Eurozone's gross domestic product. Meanwhile, the US Feder

It had been leaked earlier, but there is now confirmation that Australia's second-most populous state will report more than 700 COVID-19 infections and as many as 13 deaths, local media reported on Thursday. Authorities in Victoria state, which has been struggling to contain COVID-19 throughout Jul

GBP/JPY bulls taking on the next leg of the quest for the weekly structure to the upside. A weaker dollar has helped the pound to find its feet despite a longer-term bearish outlook.  Despite Brexit concerns, the pound has enjoyed a dose of dollar bearishness and UK investment in some 60 million va