The recent rise in the demand for the precious commodity stemmed from the resurgence in COVID-19 cases in the US and elsewhere, as governments continue to ease containment restrictions. Owing to the once again growing numbers of confirmed cases, the global uncertainty that continuously casts a shadow over the prospects for economic recovery is once again heightened. [...]

Ever since the coronavirus crisis started jolting the financial markets in late-February, investors and traders worldwide looked for safe-haven securities with low associated risk to protect their capitals against the spurring uncertainty. Several months into the constantly evolving situation and the Euro emerges as one of the most sought after assets. [...]

The underlying volatility on the USDJPY pair heightened over the last several days, as global fears over a second coronavirus wave intensified. These concerns stem from the fact that newly confirmed cases appear to be surging as governments ease their containment restrictions. As a consequence, the demand for safe-haven assets such as the Japanese yen and gold soared, just as the overall uncertainty started [...]

The German financial services company's stock has been consolidating in a narrow range for six consecutive days. The reason for the muted price action stems from the anticipations that were building up over the last several days, concerning the state of the German industry, and in particular the German services sector. Investors were eagerly awaiting the release of the crucial Services PMI data [...]

Ever since the FED decided to adopt a looser monetary policy in early-July , the previously struggling dollar received the necessary support from the FOMC to pause its freefall against other major currencies. The near-term surge in demand for the greenback is attributed to heightened investors' optimism. It stems from the more than likely survival of the US financial system due to [...]

While the speculative nature of the stock market rally is now being questioned due to its apparent disregard for underlying economic factors, the impact of the recovery process in the energy market is becoming increasingly more pronounced. The price of crude oil, in particular, has registered a remarkable, bullish run since late-April, when it plummeted below $0 per barrel for the first time on record.

Today is an especially important day for the GBPCHF pair due to the fact that both the Bank of England and the Swiss National Bank have scheduled monetary policy meetings. The latter already released its decision, which correlated with most of the consensus forecasts. The SNB decided to maintain its near-negative interest rate unchanged at 0.75 per cent.

The pair recently reached a new low during the establishment of the last bearish trend but has since then rebounded, which gives market bulls hope that the underlying market sentiment might be changing. Considering the overwhelmingly positive retail sales data in the US from yesterday and the expectations for tentative inflationary numbers in Canada scheduled for release later today, the underlying [...]

Since our previous analysis of platinum, the commodity's price action has depreciated by more than 100 dollars per troy ounce, in congruence with our projections. A new downtrend has evolved within the rough boundaries of a descending channel, which represents a major retracement from the previous bullish trend. [...]

As it is about to be seen, the AUDNZD pair is currently attempting to break down below a major Distribution range, which entails the likely establishment of a new Markdown. On the one hand, the economic prospects for growth in Australia remain muted due to the country's dependence on trade with China and stable global supply chains. Both elements remain fragile in the wake of the coronavirus crisis. [...]