Daily Market Comment – Euro continues to suffer, pound jumps on fiscal hopes

Posted on February 14, 2020 at 2:00 pm GMT

‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]


Technical Analysis – EURGBP bears come in play; aim for 3-year lows

Posted on February 13, 2020 at 2:28 pm GMT

EURGBP is heading south to meet its 3-year low of 0.8275 after an unsuccessful attempt to rise above the Ichimoku cloud in previous sessions. The main scenario is that selling pressure will persist in the short-term as the RSI and Stochastics are trending downwards in the bearish area but have yet to reach oversold levels, while the MACD is also moving with a stronger negative momentum below its red signal line. Possibly, the downfall may take a breather within the [..]


Daily Market Comment – Stocks undeterred by Bernie win; RBNZ lifts kiwi

Posted on February 12, 2020 at 10:20 am GMT

US equities close at new highs as Powell confirms liquidity injections will continue Futures point to a higher open today as well, despite Bernie Sanders’ election victory Kiwi jumps as RBNZ abandons easing bias, signals an end to rate-cut cycle Wall Street sets more records, yen and gold retreat Financial markets continue to trade in a ‘risk-on’ manner as fears that the coronavirus will have a long-lasting impact on the global economy are gradually diminishing, thanks to a substantial slowdown [..]


Daily Market Comment – Aussie tanks on virus worries; Pound flies as BoE holds

Posted on January 31, 2020 at 9:42 am GMT

Stocks stage major comeback as investors brush aside virus fears However, aussie and kiwi tell a different story – both drop substantially Is the Fed’s ‘not QE’ responsible for the divergence between stock and bond/FX markets? Pound roars higher as BoE keeps rates unchanged Stocks recover, as health officials soothe contagion concerns The market’s rollercoaster ride continued Thursday, with US equities recovering substantial losses to close into the green, even though earnings from heavyweight tech players like Facebook (-6.1%) and [..]


Daily Market Comment – Close call if BoE will cut today; Risk aversion revives

Posted on January 30, 2020 at 10:02 am GMT

All eyes on BoE meeting, markets view prospect of a rate cut as a coin toss On balance, decent PMIs give BoE breathing room to wait – if so, pound might spike higher Yen advances, stocks stumble as virus fears revive risk aversion Dollar ticks lower as Fed adopts a slightly more cautious tone, but quickly recovers BoE rate decision: To cut, or not to cut? The main event today will be the Bank of England’s (BoE) policy decision at [..]


Daily Market Comment – Euro slips after ECB; stocks stage another comeback

Posted on January 24, 2020 at 12:28 pm GMT

Euro/dollar breaks lower as ECB is a touch more dovish than expected European PMIs today were mixed, leaving the euro in search of direction Stocks recover losses, but yen doesn’t move accordingly – excess liquidity to blame? UK PMIs beat forecasts, arguing for the BoE to stay on hold next week Euro drops as Lagarde doesn’t hit back at negative rates As expected, the European Central Bank (ECB) made no changes to its stimulus program yesterday, nor did President Lagarde [..]


Daily Market Comment – ECB meets after BoC sinks loonie; risk appetite wobbles

Posted on January 23, 2020 at 9:54 am GMT

ECB to stay on hold – risks tilted towards a slightly more upbeat narrative BoC teases rate cut, sends loonie plunging Yen jumps as China seals off major city to avoid virus contagion Pound and aussie soar after strong data diminish odds of rate cuts ECB decision: No action, but perhaps a less dovish tone All eyes will be on the European Central Bank (ECB) today, which concludes its policy meeting at 12:45 GMT. No action is expected, so the [..]


Daily Market Comment – Don’t fear the virus; BoC rate decision in sight

Posted on January 22, 2020 at 9:19 am GMT

BoC to stay on hold, but any hints of concern might elicit sharp downside in loonie Risk sentiment recovers as concerns about the virus fade Decent UK data lift sterling, but PMIs will be the casting vote on rate cut BoC meeting: Another asymmetric event for the loonie The main event today will be the Bank of Canada (BoC) rate decision at 15:00 GMT. A press conference by Governor Poloz will follow about an hour later. Rates are almost certain [..]


Technical Analysis – EURGBP consolidates in tight range in near term  

Posted on January 22, 2020 at 7:41 am GMT

EURGBP is consolidating within a tight trading range over the last month with an upper boundary at the 0.8590 resistance and the lower boundary at the 0.8450 support level. Currently, the pair is capped by the short-term moving averages and the 23.6% Fibonacci retracement level of the downward wave from 0.9324 to 0.8275 near 0.8520, suggesting a potential breakdown of the channel. The technical indicators are flattening, confirming the recent view in the daily timeframe. The MACD is moving with [..]


Daily Market Comment – Risk appetite hit by China virus fears

Posted on January 21, 2020 at 9:57 am GMT

Yen shines, Asian stocks drop as markets focus on virus outbreak BoJ preserves its limited firepower for a rainy day Busy day ahead: UK data, impeachment, World Economic Forum, and earnings Yen lifted by coronavirus concerns, but is this sustainable?  Financial markets traded quietly on Monday, with most currency pairs staying confined in very narrow ranges, as a public holiday in America and the absence of any noteworthy economic data releases in Europe left investors wanting. That all changed overnight [..]

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