Daily Market Comment – Investors brace for Biden’s stimulus plan

Posted on January 14, 2021 at 9:53 am GMT

US President-elect Biden will unveil his stimulus proposal today Size and details of the plan crucial for fate of dollar and equities Markets quiet overall waiting for Biden, ignore Trump impeachment Fed chief Powell speaks, ECB minutes coming up, Italian politics eyed Dollar’s fortunes hang on Biden’s proposal The main event today will be the unveiling of incoming US president Biden’s stimulus plan. The overall price tag of the package will likely be the main variable for markets, but the [..]


Technical Analysis – EURUSD tests 1.2130 support; neutral-to-bearish bias

Posted on January 14, 2021 at 8:16 am GMT

EURUSD has been underperforming in the past couple of sessions in the 4-hour chart, challenging the 1.2130 support level again, which has been acting as strong support over the last three days. In the very short-term, the RSI is continuing to head south in the bearish territory, suggesting more losses, however, the stochastic oscillator rebounded on the oversold zone, creating a bullish crossover within its %K and %D lines, indicating a possible pullback. In trend indicators, the simple moving averages [..]


Daily Market Comment – Euro ignores Merkel’s warning of prolonged German lockdown

Posted on January 13, 2021 at 10:07 am GMT

Dollar retreats after Fed officials play down prospect of QE tapering Euro capitalizes on dollar’s woes, even as Merkel warns of extended lockdown Stock markets quiet, but crude oil continues impressive bull run US inflation data and Fed speakers today could set the tone Dollar retreats as Fed’s George plays down tapering The world’s reserve currency came back under selling pressure on Tuesday as Fed officials poured cold water on speculation around a withdrawal of their massive liquidity programs. The [..]


US inflation eyed ahead of Biden’s stimulus proposal – Forex News Preview

Posted on January 12, 2021 at 11:48 am GMT

The main event for the dollar and equity markets this week will be the details of incoming President Biden’s stimulus proposal, which will be unveiled Thursday. Before that, the latest CPI data on Wednesday will tell us how inflationary pressures are evolving. This could prove crucial amid speculation around whether the Fed might begin tapering early next year. Overall, markets seem to be transitioning from a ‘reflation’ to a ‘growth’ narrative, and if this shift persists, the latest rebound in [..]


Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 10:27 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]


Technical Analysis – EURUSD takes a hit but bullish structure endures

Posted on January 11, 2021 at 8:30 am GMT

EURUSD is sustaining a negative tone today after plotting two bearish daily candles off of a 32½-month peak of 1.2349. In spite of the convincing pullback, which is proposing a deeper retracement, the predominant simple moving averages (SMAs) are continuing to protect the positive picture. The Ichimoku lines with the clear dip in the red Tenkan-sen line are suggesting a slowing pace in positive price action, while the short-term indicators are portraying a surge in negative momentum. The MACD, some [..]


Technical Analysis – EURUSD loses some ground after touching 33-month top

Posted on January 7, 2021 at 9:42 am GMT

EURUSD has been underperforming over the last couple of sessions, testing the 20-period simple moving average (SMA), in the 4-hour chart. The RSI indicator is falling and is approaching the 50 level, while the MACD is trying to slip beneath its trigger line, remaining above the zero level. Moreover, the Ichimoku lines are flattening, suggesting a possible downside correction. Immediate support could come from the 20- and 40-period SMAs currently at 1.2290 and 1.2270, respectively. Slightly below these lines, the [..]


Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]


Technical Analysis – EURUSD premieres uneventfully at the start of the year

Posted on January 5, 2021 at 8:37 am GMT

EURUSD avoided great shakes at the start of the new trading year on Monday, holding muted marginally below the fresh 32-month high of 1.2309 reached last week. Even though the RSI is currently pointing upwards, the indicator has already created a lower high within the bullish area, while the MACD is also following the same negative pattern below its red signal line, reducing the case of a meaningful upside correction in the price. Technically, however, for the bears to come [..]


Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 10:00 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

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