The AUDUSD pair was 0.50% higher on the day and looking to test the recent highs from September 1st, but the day will be defined by the U.S. data releases today.
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JoinedAug 21, 2020, 10:11 BST
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Kevin George has over twelve years' experience in financial markets trading, which included stints in London and New York, trading equities and currencies. He has also traded in commodities, equities, futures and options. He has extensive technical-experience and combines this with a fundamental overview.
He has published for SeekingAlpha, where he runs his own subscriber newsletter and graduated with an MSc in finance in 2017.
The USDCNY pair is seeing fresh lows as expected, with recent data showing a Chinese economy that is bucking the trend of a global slump.
Gold prices were pushing higher on the day as the market awaits data from the U.S. economy and a Federal Reserve interest rate decision.
The U.S. Dollar is trying to find buying support against the Swiss Franc but the Greenback is trading at the last remaining support ahead of the 2015 spike low when the Swiss Central Bank abandoned its peg to the Euro.
Last week's selling in Ethereum has added downside pressure to the coin and we could see further losses ahead.
The GBPCHF pair has suffered heavily in recent days after Boris Johnson's threat to walk away from Brexit talks. The price has bounced in the last two days but further losses could be ahead.
The Aussie was flat against the Kiwi after the release of the Reserve Bank minutes in Australia. The bank held rates steady at 0.25% as expected.
The GBPJPY has given up the recent uptrend in price and has broken below key resistance with a threat of further losses ahead.
Brent Crude oil was hovering under the $40.00 level after recent oil price weakness and a new update from the International Energy Agency (IEA) sees further demand weakness in the oil market.
The US Dollar index is now at a critical support level ahead of tomorrow's key economic data with retail sales and interest rates on the board.
In my last Ripple price analysis, I noted that the coin had found support at the 50-day moving average and would look to test the highs again.
Oracle share prices surged on Monday after a report over the weekend from the Wall Street Journal that the Redwood-based company had won a bidding war for the Tik-Tok app.