Daily Market Comment – Signs of virus slowdown breathe life into markets

Posted on April 6, 2020 at 8:53 am GMT

Stocks roar higher, yen stumbles as new infections plateau in Europe   Is this recovery sustainable though, or just another bear market rebound? Oil remains in focus as OPEC+ postpones meeting – will they cut enough? Risk appetite returns on hopes ‘peak virus’ is behind us Global markets woke up in a better mood on Monday, with stocks in Tokyo gaining roughly 4% and futures pointing to a similar open in New York, as a slowdown in new infections in [..]


Technical Analysis – EURUSD in a rollercoaster mode last month; re-tests 1.0800

Posted on April 6, 2020 at 7:16 am GMT

EURUSD recovered its strong sell-off from the 13-month peak of 1.1495 to the three-year low of 1.0635, as it jumped close to the 61.8% Fibonacci retracement level of this downward move at 1.1170. Currently, the price is edging sharply lower again beneath the moving average lines and near the 1.0800 psychological mark. The market is lacking clear direction in the short-term as it is failing to create a clear trend. The MACD is ready for a bearish cross within its [..]


Week Ahead – Another dose of the virus blues?

Posted on April 3, 2020 at 12:49 pm GMT

The pandemonium in financial markets has calmed down somewhat, but that serenity seems fragile and investors will keep a close eye on how fast the virus is spreading in America, which is now entering the most painful phase. On the bright side, Europe looks close to a ‘peak’ in new cases. That said, markets will probably remain nervous until the US shows signs of stabilization too, and since that point might be weeks away, risk aversion could linger. As for [..]


Daily Market Comment – Oil seesaws on doubts about Saudi-Russia cuts; dollar firms ahead of NFP

Posted on April 3, 2020 at 8:27 am GMT

Oil surges then dips as markets question Trump’s claim of a Russia-Saudi Arabia deal Stocks turn lower as oil boost fades, services PMIs spread gloom Dollar set for weekly gains; unlikely to be held back by poor NFP Oil spikes as Trump ups pressure on Russia and Saudi Arabia Oil prices saw their biggest daily jump on record on Thursday after President Trump tweeted that Russia and Saudi Arabia – the world’s biggest oil producers after the United States – [..]


Technical Analysis – EURUSD slips near 1.0900; SMAs seem ready for bearish cross

Posted on April 2, 2020 at 9:35 am GMT

EURUSD is falling lower again near 1.0900, below the 20- and 40-period simple moving averages (SMAs) and the 38.2% Fibonacci retracement level of the down leg from 1.1495 to 1.0636 at 1.0962 over the last days. The pullback on the confronted 1.1150 level appeared to be a strong resistance for the bulls as the short-term trading is shifting bearish again. The stochastic oscillator is turning lower again, while the RSI is sliding below the 50 level and the MACD oscillator is extending its negative momentum below the zero line. [..]


Nonfarm payrolls: Too early for the real carnage – Forex News Preview

Posted on April 2, 2020 at 8:57 am GMT

The all-important US employment report for March will see the light at 12:30 GMT on Friday, and investors will be anxious to find out exactly how many Americans lost their jobs at the onset of the virus crisis. Alas, since these data were collected in the first half of March, before many of the virus-related shutdowns, they probably won’t reflect much of the devastation in the labor market. As for the dollar, the picture still looks positive amid the market [..]


Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:20 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]


Virus-struck euro avoids collapse for now but divided EU casts shadow – Special Report

Posted on April 1, 2020 at 2:58 pm GMT

The outbreak of COVID-19 is the biggest crisis Europe has had to face since the second world war as the human and economic tolls reach levels that were inconceivable just a few weeks ago. Yet, while the euro hasn’t done particularly well during these dark times, it is far from being at the bottom of the performers league. But does the current exchange rate reflect investor confidence in the European Union’s handling of the outbreak or that it was undervalued [..]


Daily Market Comment – Dollar firms, stocks dive again as US virus cases soar

Posted on April 1, 2020 at 8:41 am GMT

Risk sentiment sours again on mounting virus fallout, pulling stocks lower Manufacturing PMIs heighten recession fears; US ISM PMI next in focus Fed tries to ease dollar funding pressure but unable to keep currency down for long Stocks head south as virus panic returns It was a poor start to the second quarter for stock markets around the world as the growing coronavirus pandemic shows no sign of slowing, with the number of cases globally shooting past 800,000 yesterday. Stocks [..]


Daily Market Comment – Stocks buoyed by China PMIs; yen down on fiscal year-end positioning

Posted on March 31, 2020 at 8:45 am GMT

Chinese PMIs unexpectedly turn positive in March, lifting stocks, but only slightly Signs of contagion slowing in Europe but uncertain outlook keeps lid on sentiment Yen slips as Japanese investors scramble for dollars at end of fiscal year Some joy from bounce in Chinese PMIs Markets were in a relatively upbeat mood on Tuesday as encouraging PMI numbers out of China and a positive close on Wall Street lifted shares in Asia. European indices jumped more than 1% at the [..]

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