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 [..]


Technical Analysis – GBPUSD declines further in short-term outlook

Posted on October 30, 2020 at 8:08 am GMT

 GBPUSD started a deep fall after the pull back on the 1.3175 resistance level, taking the pair below the simple moving averages (SMAs) and the 50.0% Fibonacci retracement level of the up leg from 1.2675 to 1.3175 at 1.2925. From a technical viewpoint, the RSI is holding in the negative zone, while the MACD is extending its bearish movement below its trigger and zero lines. Also, the Ichimoku cloud and the red Tenkan-sen and blue Kijun-sen lines are suggesting a neutral to [..]


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 [..]


Technical Analysis – GBPUSD loses fuel above cloud; sideways move forming

Posted on October 27, 2020 at 9:03 am GMT

GBPUSD appears to have stalled its thrust above the Ichimoku cloud, as the pair pulls back from the 1.3176 level towards the 50-day simple moving average (SMA). The horizontal 50-day SMA and the flattening Ichimoku lines promote further ranging in the pair. The short-term oscillators reaffirm diminishing positive momentum. The MACD is slightly in the positive region and marginally above its red trigger line, while the RSI is slipping towards its neutral 50 mark. Moreover, the declining stochastic lines are [..]


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 – GBPUSD looks positive despite 9 red sessions

Posted on October 23, 2020 at 9:24 am GMT

GBPUSD is pairing some losses that were posted in the preceding nine consecutive red candles in the 4-hour chart. Over the last month, the price has been developing within an ascending channel and the latest bullish action is being confirmed by the RSI, which is sloping slightly up in the positive region. However, above the zero level the MACD oscillator is still holding beneath its trigger and the red Tenkan-sen line is pointing down. If the price continues to gain momentum the next immediate resistance could come from the 1.3175 barrier ahead of the [..]


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 [..]


UK retail sales and PMIs to turn spotlight on recovery amid Brexit shenanigans – Forex News Preview

Posted on October 21, 2020 at 11:39 am GMT

It may be hard to escape the latest bombardment of Brexit headlines but crucial economic data coming up at the end of the week may help divert attention to the recovery in Britain as COVID-19 cases continue to rise rapidly across the country. Retail sales numbers for September are due on Friday at 09:00 GMT, to be swiftly followed by the flash October PMIs at 08:30 GMT. Although growth in the economy has stayed positive since May, there are increasing [..]


Daily Market Comment – Stimulus deal moves closer; stocks cheer but dollar sags

Posted on October 21, 2020 at 8:58 am GMT

Talks continue on virus relief bill as Trump backs large stimulus Stocks rise but gains contained amid doubts about Republican support Dollar slumps to one-month low as euro soars, gold catches a bid too Markets anxiously await a stimulus deal Growing optimism that a bipartisan deal on a new coronavirus aid package in the United States is within reach lifted equities on Wednesday while investors dumped the safe-haven US dollar. Talks between House Speaker Nancy Pelosi and Treasury Secretary Steven [..]

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