Daily Market Comment – Euro continues to suffer, pound jumps on fiscal hopes

Posted on February 14, 2020 at 2:00 pm GMT

‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]


Daily Market Comment – Dollar capitalizes as euro crumbles; Risk aversion strikes back

Posted on February 13, 2020 at 9:51 am GMT

Euro/dollar and euro/franc sink to multi-year lows after weak data extinguish hopes of European recovery Pain train for euro may not be over, difficult to see what can turn this around Meanwhile, virus worries return to haunt stocks and commodity currencies as death toll jumps – yen shines Euro caves in under the weight of disappointing industrial data The world’s most traded currency pair continued its epic downfall yesterday, touching a low last seen in 2017 after a batch of [..]


Technical Analysis – NZDUSD rebounds on 3-month low; bears look exhausted

Posted on February 12, 2020 at 10:24 am GMT

NZDUSD finally climbed above the short-term moving averages in the 4-hour chart but is still flirting with the 23.6% Fibonacci retracement level of the downward wave from 0.6754 to 0.6377 near 0.6466. The price after the plummet towards the new three-month trough of 0.6377 is getting ready to drive the market north until the one-and-half-month descending trend line. The positive slope in the RSI, which runs comfortably above its 50 neutral mark is painting a rosy picture for short-term trading. Moreover, [..]


Daily Market Comment – Stocks undeterred by Bernie win; RBNZ lifts kiwi

Posted on February 12, 2020 at 10:20 am GMT

US equities close at new highs as Powell confirms liquidity injections will continue Futures point to a higher open today as well, despite Bernie Sanders’ election victory Kiwi jumps as RBNZ abandons easing bias, signals an end to rate-cut cycle Wall Street sets more records, yen and gold retreat Financial markets continue to trade in a ‘risk-on’ manner as fears that the coronavirus will have a long-lasting impact on the global economy are gradually diminishing, thanks to a substantial slowdown [..]


Daily Market Comment – Wall Street hits new records, but beware of the Democratic primary

Posted on February 11, 2020 at 11:59 am GMT

Fading virus fears boost equities, but New Hampshire primary today poses risks Euro pummeled as markets price out prospect of a big German spending package Fed chief Powell testifies, ECB’s Lagarde and BoE’s Carney speak RBNZ rate decision coming up – a more dovish tone seems likely Stocks climb as virus fears fade, but how long until they ‘feel the Bern’? Concerns around the economic fallout of the coronavirus seem to be fading off the market’s radar, as the rate [..]


RBNZ to hold rates steady as concerns about virus outbreak grow – Forex News Preview

Posted on February 10, 2020 at 3:29 pm GMT

The Reserve Bank of New Zealand (RBNZ) will hold its first policy meeting of 2020 on Wednesday, announcing its decision at 01:00 GMT. Investors see a less than 10% chance that the RBNZ will cut interest rates in February, though with downside risks on the up, those low odds may soon start to crawl higher. Growing fears about the impact of the coronavirus have already pushed the New Zealand dollar to the bottom of the FX performance league table this [..]


Daily Market Comment – ‘King dollar’ continues its reign after solid jobs data

Posted on February 10, 2020 at 10:16 am GMT

Dollar cruises higher after strong payrolls push back expected timing of Fed cuts Yet, stocks struggle for altitude, yen climbs as virus fears remain in play Aussie breaks 11-year low, but quickly bounces back The world’s reserve currency shined once again on Friday, after US payrolls for January exceeded estimates, prompting traders to push back the expected timing of the next Fed rate cut. Nonfarm payrolls rose by 225k, smashing the forecast for a 160k increase and signaling that the [..]


Week Ahead – RBNZ meeting, US retail sales and UK GDP to headline muted week

Posted on February 7, 2020 at 11:14 am GMT

As markets enjoy a bit of bounce back from the panic selling triggered by the outbreak of the deadly coronavirus, traders may struggle to keep the momentum going over the next seven days as things quieten down a little on the data front. Industrial production numbers out of the Eurozone, the United States and the United Kingdom will be the main release, though the focus will be on fourth quarter GDP estimates for the UK and on the latest retail [..]


Daily Market Comment – Risk aversion creeps in as virus death toll jumps

Posted on February 7, 2020 at 9:27 am GMT

Equities rally fades as spread of coronavirus shows no sign of slowing Yen edges up but dollar also holds firm ahead of US jobs report Pound set for large weekly losses amid Brexit brinkmanship Virus fears intensify; risk rally loses steam The relief rally sparked by China’s efforts to contain the coronavirus and support its economy appeared to run out of steam by the end of the week as most major stock indices in Asia turned red on Friday. Futures [..]


Virus treatment: Can it unleash a wave of risk appetite? – Special Report

Posted on February 6, 2020 at 4:22 pm GMT

The deadly virus theme that has plagued global markets, devastating commodity prices and risk-sensitive currencies, seems to be calming down. The rate of infections appears to be levelling off, and Chinese media suggest scientists found a drug that effectively treats patients. If confirmed, that could ignite a fresh wave of risk-taking, helping the commodity-linked Australian, Canadian, and New Zealand dollars to rally in relief, as safe-havens like the yen come under selling pressure. Is it a short-term thing? Evaluating the [..]

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