Entity Fx™

2020-07-07 04:55:08 Five things traders need to know today

A strong rally in the Chinese equity market propelled global benchmarks except the ASX200 (-0.7%). S&P 500 +1.59%. Nasdaq hit another record high, led by Amazon and Tesla. Non-manufacturing PMI beat the expectation at 57, indicating a strong economic recovery in the US. CN50 surged 9.9% to 16,385.

The US dollar index (USDX) tumbled to 96.68 as risk sentiment improved. The yield on 10-year Treasuries rose to 0.68%. JPY and CHF gained against USD.

EUR surged to a two-week high of 1.1308 on the upbeat retail sales figures in the eurozone. GBP increased but failed to hold above 1.25 on the growing tensions between the UK and China. The BoE governor also warned of the negative rate.

CNH strengthened to a three-month high of 7.0155 alongside the bull stock market. AUD extended the rally to 0.6973 ahead of the RBA rate decision (14:30 AEST). Australia is set to close the border between Victoria and NSW. NZD increased to 0.6554.

Gold jumped to $1784.69 on rising virus cases worldwide, with eyes on a monthly high of $1789. WTI crude (XTIUSD) edged higher to $40.51 as Saudi raised its official selling prices for all types of crude in August by $1. Open / Comment

2020-07-06 04:44:18 Five things traders need to know today

US equity futures and European stocks declined Friday, while American cash market closed for Independence Day. S&P 500 futures +0.58% Monday morning despite Goldman Sachs revising down the estimates for Q3 US economy. CN50 soared toward 15000, buoyed by huge inflows into Chinese A-shares.

The US dollar index (USDX) dropped last week to 97.15 despite the surging daily cases and hospitalisations in many states in the US. JPY traded at 107.56.

EUR was little changed at 1.1246 in Asian trading hours, continuing to seesaw around the neutral 5-day EMA. GBP opened lower and traded at 1.2475. The UK relaxed the quarantine rules for travellers and reopened the bars.

AUD extended the gains to 0.6945 following a second consecutive weekly gain. The Australian government offered hardship payments to residents impacted by the lockdown reimposed in Melbourne. NZD traded at 0.6537.

Gold opened lower at $1773 after refreshing the eight-year high at 1789 last week and leaving a doji on the weekly chart. WTI crude (XTIUSD) closed above $40 and edged higher to 40.4. CAD and NOK strengthened alongside the oil price. Open / Comment

2020-07-02 19:55:23 More investors need to add gold as a protection asset in their portfolios. That will create more demand than the market can handle and with the increasing amounts of monetary accommodation and fiscal deficits, gold could move through its past highs—to $1,900 or $2,000—by the end of 2020. Open / Comment

2020-07-02 18:40:45 Open / Comment

2020-07-02 17:01:52 Open / Comment

2020-07-02 15:00:50 GMT TIME & NEWS 12:30 GMT = NFP Data predictions expected to come in their worst scenario. ADF negative + NFP data will Push XAU high. Open / Comment

2020-07-02 09:22:10 GMT TIME & NEWS

12:30 GMT = NFP Data

predictions expected to come in their worst scenario.

ADF negative + NFP data will Push XAU high. Open / Comment

2020-06-30 06:26:21 Five things traders need to know today

US stocks recovered on the improving economic data and Boeing’s certification flight testing despite the resurgent virus. The US pending home sales posted a record gain in May at 44.3% MoM. S&P 500 closed +1.47%. Nasdaq +1.2%. European benchmarks increased.

The US dollar index (USDX) was little changed at 97.41, while the yield on 10-year Treasuries decreased to 0.62%. USDJPY continued the rally and surged past 107.50.

EUR rose to 1.1242 on the upbeat Germany CPI figures. GBP dipped to a June low of 1.2297, sitting far below the 5-day EMA. The UK PM is set to announce a Big Plan for post-pandemic investment in infrastructure and skills.

AUD climbed to 0.6866. Australian PM Scott Morrison favoured the further reopening of economies. NZD increased to 0.6418. CNH strengthened to 7.0765 ahead of the PMI report. China is set to approve the Hong Kong Security Law today.

Gold closed higher at $1772, with the 5-day EMA offering support. The US has suspended some exports of sensitive technology to Hong Kong, while China imposed a visa ban on some US citizens. WTI crude (XTIUSD) increased to $39.47. Open / Comment

2020-06-20 09:32:42 Nice move to the top of the range in XAUUSD - price closed > the ST downtrend, but needs to clear supply through 1750. If that plays out next week then positioning and sentiment is all very neutral and gold should push into $1780/90. Is this the time? Open / Comment

2020-06-16 15:44:46 Sell Stop AUDNZD at 1.06270 Stop Loss: 1.09030 Take Profit: 1.0500 Mid-Long Term Open / Comment