Week Ahead – US, China data to keep recovery theme going; ECB, BoJ and BoC meet

Posted on July 10, 2020 at 12:38 pm GMT

There will be no shortage of big headline events over the next few days as major data releases, central bank meetings and an EU gathering should make for a busy week. However, the primary focus will be on the recovery story amid further spikes in coronavirus cases in several countries, including the United States. Retail sales numbers out of America and second quarter GDP figures from China should reveal whether the growth rebound is maintaining momentum. On the other hand, [..]


Technical Analysis – NZDUSD attempts to restore positive sentiment

Posted on July 10, 2020 at 10:57 am GMT

NZDUSD appears to be strengthening after finding a footing on the 40-period simple moving average (SMA), which may enhance the very short-term neutral-to-bullish picture. Although the positive momentum in the MACD and the Ichimoku lines has stalled, the rising SMAs, RSI and stochastic oscillator endorse further gains. The RSI is improving after bouncing on the 50 threshold, while the %K line has completed a bullish crossover out of oversold territory, promoting advances. If buying interest intensifies, early resistance may develop [..]


Daily Market Comment – Virus acceleration and politics upset markets

Posted on July 10, 2020 at 9:00 am GMT

Wall Street loses altitude, dollar regains ground on US virus spike, Biden remarks But Nasdaq defies gravity, hits new records on relentless ‘defensive tech’ demand In the bigger picture, most charts have gone nowhere for a month now – blame the Fed? Flood of distressing news overpowers stimulus hopes Risk aversion made a comeback on Thursday as a flurry of alarming headlines led investors to cut their exposure to riskier assets, in fear that the avalanche of stimulus globally may [..]


Daily Market Comment – Nasdaq and gold take to the skies, dollar tanks

Posted on July 9, 2020 at 9:04 am GMT

Stocks and commodity currencies grind higher without much news Sinking dollar lifts all FX boats, pound and loonie capitalize the most Gold rally keeps rolling – has bullion changed roles with the dollar? Weekly US jobless claims today to reveal initial impact of re-closures Investors stick to crisis playbook, buy tech shares and gold News flow was rather limited on Wednesday, helping global markets to stay in a good mood since ‘no news is good news’ these days, with such [..]


Technical Analysis – NZDUSD retests 4-month peak, creating double top

Posted on July 8, 2020 at 1:28 pm GMT

NZDUSD touched the four-month peak of 0.6580 for the second time over the last month. The momentum indicators, though, are currently suggesting that the buying interest may have topped, and the pair may be regain positive momentum. The RSI and the MACD are pointing slightly down, and from the Ichimoku indicators, the red Tenkan-sen line has also paused its upside move. A closing price above 0.6580 could boost buying interest and confirm additional gains towards the 0.6665 resistance. Higher still, the 0.6750 barrier, registered on December 2019 [..]


Daily Market Comment – Markets pause to assess risks after leaping higher

Posted on July 7, 2020 at 9:21 am GMT

Currencies and equities in a more cautious mood Tuesday, as China-led euphoria peters out Dollar regains its footing but only mildly, aussie drops after Melbourne goes into full lockdown Risk/reward outlook for ‘risk trades’ seems quite unattractive from here Soaring Chinese stocks lift all boats, but enthusiasm fades Global markets staged a powerful rally to kick off the new week. Stock indices in most regions closed with solid gains while the defensive US dollar edged lower, with no real catalyst [..]


Technical Analysis – NZDUSD makes positive moves to retest ceiling of range

Posted on July 3, 2020 at 7:47 am GMT

NZDUSD recently overcame negative pressures jumping above the mostly flat 50- and 100-period simple moving averages (SMAs) and the neutral Ichimoku cloud to revisit the roof of the sideways market, which has held for around three weeks. Although currently stalled, this move is also reflected within the bullish Ichimoku lines. Furthermore, with positive momentum starting to pick up in the technical oscillators, the short-term picture is tilting more towards a positive outcome. The MACD, in the positive area and above [..]


Daily Market Comment – Dollar stumbles ahead of NFP; vaccine hopes shore up equities

Posted on July 2, 2020 at 8:30 am GMT

Dollar torn between upbeat data and US virus spike; NFP may decide fate Positive vaccine news helps breathe life into flagging stock market rally Gold retreats from highs as markets dismiss US-China tensions Dollar looks shaky as jobs report awaited Markets were mostly in risk-on mode on Thursday as the combination of positive economic indicators and potential coronavirus vaccines kept alive hopes of a strong recovery from the pandemic. But with US markets closed on Friday for Independence Day celebrations, [..]


Daily Market Comment – Gold soars on virus risks, softer dollar; US data awaited

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

Gold extends bull run amid growing virus fears and US-China tensions; softer dollar helps too Stocks mostly positive as global recovery appears on track, but rally showing some signs of fatigue Markets await US ISM manufacturing and jobs data for direction Gold sets sights on $1800/oz as pandemic here to stay The safe-haven gold was scaling fresh 7½-year highs above $1785/oz on Wednesday even as investors maintained the view that the economic recovery from the pandemic will be a V-shaped [..]


Technical Analysis – NZDUSD capped by 20-day SMA; indicators appear mix

Posted on July 1, 2020 at 7:19 am GMT

NZDUSD is capped by the 20-day simple moving average (SMA) and the red Tenkan-sen line in the short-term and has been moving sideways over the past three weeks. The momentum indicators are facing contradicting signals as the RSI is pointing marginally up in the positive region, while the MACD oscillator is standing beneath its trigger line and is losing ground. If the price continues to fall, immediate support would come coming from the 0.6375 barrier and the 23.6% Fibonacci retracement [..]

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