WTI consolidates the upside around $52.30 amid light trading

WTI caught between coronavirus-led demand concerns and OPEC+ cuts hopes. US holiday-led quiet trading adds to the upside consolidative mode. Focus remains on virus updates and US weekly crude supplies for directives. Having reached the highest level in three weeks at $52.63...

Indonesian FinMin Indrawati urges EU companies to avail tax holiday, USD/IDR hits 3-day lows

Speaking at the Indonesia Economic and Investment Outlook 2020 co-held by the Investment Coordinating Board (BKPM) and EuroCham Indonesia, the country’s Finance Minister Sri Mulyani Indrawati urged European companies operating in Indonesia to utilize tax holiday, in a bid to take...

GBP/USD remains confined in a range, just below mid-1.3000s

GBP/USD consolidates last week’s strong positive move of over 200 pips. Fears of a no-deal Brexit held investors from placing any fresh bullish bets. A subdued USD demand does little to influence amid thin liquidity conditions. The GBP/USD pair remained confined in a narrow...

Copper Futures: Neutral near-term

CME Group’s advanced prints for Copper futures markets noted traders added nearly 2.5K contracts to their open interest positions on Friday, reaching the fourth build in a row. Volume, instead, shrunk by almost 54K contracts, resuming the downside. Copper prices face some...

USD/CNH still faces extra rangebound – UOB

USD/CNH is seen sticking to its current consolidative theme, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “USD traded between 6.9814 and 6.9968 last Friday, narrower than our expected sideway-trading range of 6.9650/6.9980. Momentum indicators are mostly neutral...

China’s NHC: Novel coronavirus is preventable and treatable

At a daily press conference on Monday, Guo Yanhong, a hospital administration supervisor at China’s National Health Commission (NHC) said that that novel coronavirus is preventable and treatable. The percentage of infected patients in virus epicenter Wuhan who are critically ill...

China: Impact of the coronavirus is stark – Capital Economics

Neil Shearing, an economist at Capital Economics, counts the first evidence of the impact the coronavirus has caused in the Chinese economy which has been severe. USD/CNY is traded at 6.9804, the same level it started the year. Key quotes “The past week has brought the first...

GBP/JPY Price Analysis: Bulls await a sustained move beyond 2-month old descending trend-line

GBP/JPY consolidates last week’s strong positive move of over 200 pips. The technical set-up support prospects for a further appreciating move. The GBP/JPY cross lacked any firm directional bias and was seen oscillating in a narrow trading band, above the 143.00 mark through...

CFTC Positioning Report: EUR net shorts in multi-month highs

These are the main highlights of the CFTC Positioning Report for the week ended on February 11th. Speculators kept the negative view on EUR for yet another week, taking gross shorts to the highest level since early November 2016 to more than 255K contracts and therefore the net...

EUR/USD: Bears remain in control

The world's most popular currency pair hit a 34-month low at 1.0820 and is attempting a recovery. Nevertheless, fundamentals and technicals are pointing lower in the opinion of Yohay Elam from FXStreet. Key quotes “While the US is on holiday today – celebrating...