AUD/USD
AUDUSD extended its upside movement from 0.6401 to as high as 0.6615.
AUDUSD extended its upside movement from 0.6401 to as high as 0.6615.
USDCAD formed a sideways consolidation above 1.3849 support.
Crude oil prices have eased back at the start of this week, with a barrel of Brent costing $62.25 and WTI $57.25.
As we opened the trading session on Monday, we obviously gapped lower in favor the US dollar during Asian trading, perhaps in reaction to the tax bill making significant gains through the US Senate.
AUDUSD is currently trading inside an ascending channel on its daily time frame and is testing support. Price is also moving inside a short-term descending channel and might need to break past the resistance before establishing bullish momentum.
North Korea tensions have again dominated the agenda at the start of this week and will continue to remain a major obstacle facing risk-sensitive assets in the near-term.
For gold bugs, and even for their lesser brethren in silver, not only is the sun shining in the summer months, but the sun is truly shining on gold as a confluence of factors helps to propel the precious metal ever higher, and one wonders when the angst laden doom mongers will appear forecasting an overbought position.
The pound, already out of favour ever since the Bank of England’s last policy meeting a couple of weeks ago, fell further yesterday in response to softer-than-expected UK inflation figures.
The Australian dollar has been very volatile during the Friday session, initially dipping to a fresh, new low, and then exploding to the upside.
The EURUSD pair initially dipped lower during the day on Friday, but then shot higher impulsively during the American session.