Technical Analysis – AUDUSD recoups lost ground but positive signals take a hit

Posted on February 9, 2021 at 2:24 pm GMT

AUDUSD appears to be stalling above the 0.7700 mark after the pair’s recent gains from 0.7582 thrusted the pair over the simple moving averages (SMAs) and the Ichimoku cloud. However, positive sentiment seems to be waning slightly, something also being reflected in the pausing Ichimoku lines. The 50- and 100-period SMAs are endorsing the neutral-to-bullish price tone, after their bearish demeanour somewhat subsided. The short-term oscillators are demonstrating mixed signals in directional momentum. The MACD is holding above its red [..]


Daily Market Comment – Dollar gains more ground on stimulus hopes but stocks softer

Posted on February 4, 2021 at 9:57 am GMT

Dollar at fresh 2-month high as US yields rise further on stimulus expectations But Wall Street turns more cautious, Asian stocks wobble on Chinese liquidity worries Pound skids ahead of Bank of England decision, euro can’t catch a break Dollar strengthens further on rosy US outlook Rising optimism about the US economic outlook lifted the greenback to a fresh 2-month top on Thursday as investors bet that the American economy will outperform on the back of the Biden administration’s pledge [..]


Technical Analysis – AUDUSD’s pullback dismissed by 50-day SMA; upside intact

Posted on February 4, 2021 at 8:58 am GMT

AUDUSD is finding some footing on the 50-day simple moving average (SMA) around 0.7605, after a near one-month retreat from the recently reached multi-year top of 0.7820. The Ichimoku lines are reflecting a pause in the climb, while the rising SMAs are preserving the bullish sentiment. The ascent seems to be unharmed as the short-term oscillators are conveying a pickup in positive momentum. The MACD is holding above the zero mark, despite having dwindled below its red trigger line, while [..]


Daily Market Comment – Dollar, stocks rise in tandem as Democrats push ahead with stimulus

Posted on February 3, 2021 at 10:05 am GMT

Democrats move to fast-track Biden’s stimulus package through Congress Wall Street surges for second day on earnings beats, brighter outlook US yield curve steepens, lifting the greenback; euro gets left behind Stimulus and vaccine hopes buoy markets Optimism about a stronger economic outlook and an ebb in the pandemic continued to gather pace on Wednesday, erasing last week’s jitters that sent stocks plunging and the dollar soaring. Equities have since made a powerful comeback, but the US currency has only [..]


Daily Market Comment – Dollar holds firm after gains as stimulus eyed; Reddit frenzy eases

Posted on February 2, 2021 at 10:06 am GMT

Dollar approaches 2-month top as stimulus hopes push up yields, euro falters Stocks rise again as Wall Street rebounds, retail craze cools, silver plunges Aussie bounces back, shrugs off surprise QE boost by RBA A dollar comeback? The US dollar appears to be on the rise again, mirroring a similar upward drive in 10-year Treasury yields in recent days. Expectations that the United States is moving closer to another big stimulus package lifted the greenback to near 2-month highs against [..]


Daily Market Comment – Stocks steady as retail traders switch focus to silver

Posted on February 1, 2021 at 9:58 am GMT

Silver rockets higher as it becomes the new target for Reddit traders Equity markets a lot calmer but growth worries, vaccine doubts cap gains Pound leads FX majors, euro tarnished by EU’s vaccine mess Retail investors pile in on silver as Reddit frenzy continues The war between the establishment on Wall Street and small-time investors is far from over as not only are retail traders still betting against short sellers of GameStop and other Reddit favourites, but they are now [..]


Week Ahead – NFP bounce, stimulus progress might calm markets; BoE and RBA eyed

Posted on January 29, 2021 at 1:41 pm GMT

It’s going to be a relatively busy start to February as investors will be hoping the latest US jobs report will confirm that December’s rough patch was short lived. However, that won’t be the only data to test the market mood as preliminary GDP numbers out of the Eurozone could heighten fears of a double-dip recession. In the world of central banks, the first policy decisions of the year are due in Australia and Britain. The Reserve Bank of Australia [..]


Dollar remains overvalued; can America’s twin deficits still sink it? – Special Report

Posted on January 28, 2021 at 2:28 pm GMT

The US dollar ended a volatile 2020 down 6.5% against a basket of currencies, underlining the dramatic turnaround in risk appetite from the depths of the March virus crisis. That risk rally is showing no sign of abating anytime soon, driving bearish bets against the dollar to near-decade highs. Nevertheless, the dollar’s negative outlook is becoming increasingly murky as the US economy is poised to outperform its peers in 2021. In view of this, can America’s soaring current account and [..]


Technical Analysis – AUDUSD posts losses below 33-month peak

Posted on January 28, 2021 at 8:02 am GMT

AUDUSD has been creating losses since the day it declined from the 33-month high of 0.7820, unable to remain above the 20- and 40-day simple moving averages (SMAs). The momentum indicators, though, are currently encouraging an ongoing sell-off in the very short-term. The RSI is falling below the neutral threshold of 50, while the MACD is falling below the zero line in the positive region. However, a closing price above the 33-month top of 0.7820 could boost buying interest and confirm additional [..]


Daily Market Comment – Stocks retreat, dollar edges up as virus concerns creep in again

Posted on January 22, 2021 at 10:11 am GMT

Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]

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