Week Ahead – US election, three central banks, and nonfarm payrolls

Posted on October 30, 2020 at 12:53 pm GMT

It is probably the busiest week ever for markets. The US presidential election will eclipse everything else, but there are several other crucial events like a Fed meeting and nonfarm payrolls to follow the main dish. The Bank of England and the Reserve Bank of Australia will decide as well and both are ‘live’ meetings, where more easing is expected. Overall, the tone in the FX and stock markets will depend mostly on the election outcome, and whether we have [..]


Daily Market Comment – Equities back in the meat grinder after big tech earnings

Posted on October 30, 2020 at 11:19 am GMT

Stocks continue to melt down as big tech results underwhelm Some de-risking ahead of the election may be contributing too Dollar not really participating in risk-off Friday, but the yen is Eurozone inflation data today could shape ECB easing expectations ‘Dead cat’ bounce fades as big tech underwhelms Global markets breathed a sigh of relief on Thursday as risk appetite returned to some degree, but it was not meant to last, with the meltdown in equities resuming today on the [..]


Daily Market Comment – Stocks tank, yen shines amid lockdown blues; ECB coming up

Posted on October 29, 2020 at 10:09 am GMT

Panic selling in equities as France and Germany announce new virus-fighting measures Yen and dollar surge amid the turmoil, commodity FX and gold hammered Markets have stabilized on Thursday, but the calm seems fragile Today: ECB policy decision, German inflation, US third-quarter GDP Equities fall apart, haven currencies shine Global markets buckled under the weight of the new shutdowns in Europe yesterday, with the newfound uncertainty around the US election making matters worse. The straw that finally broke the camel’s [..]


US GDP growth and Core PCE index: Last data pieces before the election – Forex News Preview

Posted on October 28, 2020 at 5:20 pm GMT

The US is reporting its annualized GDP growth figure for the third quarter on Thursday at 12:45 GMT and the Fed’s favorite inflation measure, the core PCE inflation index, on Friday at 12:30 GMT. The data will be the last key releases before the presidential election next week, but its impact is expected to be muted and overshadowed by political news and Covid headlines despite encouraging forecasts.  Q3 the fastest growing quarter ever, but keep your feets on the ground [..]


Technical analysis – EURUSD slumps to meet trendline as downside risks heighten

Posted on October 28, 2020 at 9:35 am GMT

EURUSD is fast approaching the ascending trendline that has been navigating the market since the bounce off the 1.1611 ground as the Ichimoku cloud on the four-hour chart blocked the way to the upside and the 200-period simple moving average (SMA) failed to catch the fall. With the price trading below its SMAs, the RSI decelerating towards its 30 oversold level, and the MACD strengthening its negative momentum below its signal and zero lines, the short-term bias is seen skewed more [..]


ECB preview: A milestone to another stimulus package – Forex News Preview

Posted on October 27, 2020 at 5:28 pm GMT

The Eurozone’s calendar will get relatively busy at the end of this week, with the European Central Bank  (ECB) gathering to set policy at a crucial time for the bloc on Thursday at 11:45 GMT, while on Friday, the agenda will be packed with Q3 GDP growth, October’s inflation, and September’s employment figures, all released at 09:00 GMT. Given the exponential increase in Covid cases and the new restrictive measures applied, which make a double dip in Q4 a more [..]


Daily Market Comment – Investors play defense as global cases surge, US election tightens

Posted on October 26, 2020 at 10:03 am GMT

Markets on red alert as US infections hit grim records, Europe adopts new measures Meanwhile, election polls have tightened – ‘Blue wave’ no longer as certain Global stocks retreat, oil hammered, dollar inches higher Big week ahead: three central bank meetings, key GDP data, tech earnings Global cases soar, investors cut risk exposure Market participants are playing some defense on Monday, slashing their exposure to riskier assets like stocks and rotating into the safety of sovereign bonds, amid a blitz [..]


Technical Analysis – EURUSD creeps sideways under weak momentum

Posted on October 26, 2020 at 8:44 am GMT

EURUSD is stalling around the upper band of the Ichimoku cloud and seems to be adopting a neutral tone, something also reflected in the horizontal 50-day simple moving average (SMAs) and the flattening Ichimoku lines. Nonetheless, a dictating bullish bias in the SMAs remains fairly intact despite easing in the 50-day SMA. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD is rising in the positive region above its red trigger line, while the RSI’s gains are [..]


Daily Market Comment – Markets drift sideways as US stimulus deal awaited

Posted on October 23, 2020 at 9:21 am GMT

US stimulus deal edges closer as talks continue, investors hold tight No clear winner from final presidential debate; uncertainty adds some support to dollar Euro bounces from lows as strong manufacturing shores up flagging Eurozone recovery No deal yet but high hopes for more stimulus Markets remain fixated on the stimulus talks in Washington as the week draws to a close, with the window for a deal to be struck before the November 3 election closing fast. Positive signals about [..]


Daily Market Comment – Dollar firms, stocks slip amid US stimulus doubts

Posted on October 22, 2020 at 8:49 am GMT

Talks on US stimulus package continue but deal in doubt after Trump slams Democrats Dollar regains some footing, equities drift lower as final presidential debate eyed Brexit progress supports euro and pound as virus cases spiral out of control Stimulus setback after Trump throws a tantrum Hopes for a quick deal on a new coronavirus aid package in the United States have faded somewhat as negotiations between the White House and the Democrats drag on. Disagreement over funding for state [..]

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