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Daily Market Comment – Stimulus talks calm market nerves; dollar eases

Posted on September 25, 2020 at 9:01 am GMT

White House and Democrats restart stimulus talks, stocks come back to life But virus resurgence and slowing recovery continue to weigh on markets Dollar off highs, pound and aussie bounce back, but euro adrift Mnuchin-Pelosi talks revive fiscal stimulus hopes Fresh efforts to break the stalemate in the negotiations for a new virus relief bill in the United States have provided a much-needed boost to sentiment in a week where markets have been struggling to find anything to cheer about. [..]

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Daily Market Comment – Stocks dive again as recovery in doubt; dollar stands tall

Posted on September 24, 2020 at 9:10 am GMT

Global equities follow Wall Street lower as fears of major winter wave mount Fed’s call for more fiscal stimulus falls on deaf ears Dollar trounces rivals, commodity currencies sink Stocks slump as optimism fades Rising pessimism about the prospect of a swift economic recovery from the pandemic dragged down equities on Thursday. The rout in global stock markets follows a sharp slide on Wall Street on Wednesday when the Nasdaq Composite plunged by 3% and the S&P 500 lost 2.4%. [..]

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Daily Market Comment – Lagarde gives euro bulls the green light; Pound sinks on Brexit turmoil

Posted on September 11, 2020 at 8:52 am GMT

Never mind about talking down the euro, ECB wants to talk up the recovery Pound tumbles again as UK-EU Brexit row turns ugly, but talks still on Wall Street back in the red as hope for pre-election fiscal boost slips Euro surges after Lagarde poses no threat The European Central Bank kept its monetary policy settings unchanged on Thursday and sounded cautiously optimistic about the Eurozone’s recovery prospects. However, it was President Christine Lagarde’s stance on the exchange rate that [..]

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Daily Market Comment – Nasdaq snaps losing streak; ECB to walk a fine line

Posted on September 10, 2020 at 8:45 am GMT

Equity slump eases as tech stocks bounce back; but is the rout over? Euro perks up ahead of ECB decision as dovish expectations fade a little Pound steadies but backlash over Johnson’s Brexit plan intensifies Nasdaq has best day since April Wall Street ended its three-day losing streak on Wednesday, with all three major indices going some way in recouping the previous sessions’ heavy losses. The Nasdaq Composite and Nasdaq-100 soared by 2.7% and 3.0% respectively, enjoying their biggest one-day [..]

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Technical Analysis – US 100 index ticks up after aggressive sell-off

Posted on September 9, 2020 at 9:29 am GMT

The US 100 index plummeted for four straight days below the 20- and 50-day simple moving averages (SMAs) after the aggressive rally to a new record high from 12,465.02. Currently, the price is trying to pare some of the losses, flirting with the 23.6% Fibonacci retracement level of the bullish move from 6,635 to 12,465.02 at 11,080. According to the technical indicators, the RSI is turning higher in the negative territory, however, the stochastic oscillator is still in the oversold [..]

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Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]

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Daily Market Comment – Pound hammered as no-deal Brexit fears return

Posted on September 8, 2020 at 8:49 am GMT

Brexit comes back to haunt the pound as Johnson raises the stakes Euro sticks to tight range ahead of Thursday’s ECB decision Stocks regain positive footing but dollar up as Trump talks China decoupling Pound slumps after Johnson threatens no deal Only five weeks left to reach a deal and Britain and the European Union are too busy posturing than negotiating, with Boris Johnson’s latest rhetoric once again raising the prospect of a no-deal Brexit. As the talks to agree [..]

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Daily Market Comment – Wall Street tumble, job woes put dollar on defensive

Posted on September 7, 2020 at 8:57 am GMT

Dollar edges up as US tech losses deepen, jobs recovery slows Brexit threatens pound rally as Johnson raises his game in EU talks Chinese exports surge keeps risk sentiment afloat as US tensions weigh Tech rally suffers major setback Global equity markets attempted to shrug off Wall Street’s rare selloff last week as Asian shares ended Monday mixed, while Europe’s major bourses opened sharply higher. The somewhat questionable risk-on tone was underscored by better-than-expected trade figures out of China, which [..]

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Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:52 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]

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Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:52 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]

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