Daily Market Comment – Euro rebound falters as EU rejects Eurobonds; stocks go nowhere

Posted on April 8, 2020 at 8:50 am GMT

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far?   Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro struggles The Eurozone’s institutional deficiencies came back on the market’s radar today, after a lengthy meeting of the bloc’s finance ministers ended without an agreement [..]


Daily Market Comment – Signs of virus slowdown breathe life into markets

Posted on April 6, 2020 at 8:53 am GMT

Stocks roar higher, yen stumbles as new infections plateau in Europe   Is this recovery sustainable though, or just another bear market rebound? Oil remains in focus as OPEC+ postpones meeting – will they cut enough? Risk appetite returns on hopes ‘peak virus’ is behind us Global markets woke up in a better mood on Monday, with stocks in Tokyo gaining roughly 4% and futures pointing to a similar open in New York, as a slowdown in new infections in [..]


Technical Analysis – USDJPY awaits nearby barrier to let the bulls out

Posted on April 6, 2020 at 7:39 am GMT

USDJPY restored positive momentum on Monday and pierced the 109.00 level on the upside after stepping on the 200-period simple moving average (SMA) on the four-hour chart. While some stabilization cannot be ruled out since the 23.6% Fibonacci of the 101.17-111.70 upleg is in the neighborhood and the fast Stochastics are fluctuating in the overbought territory,  the price could soon resume upside direction as the MACD is growing in the positive area and the RSI keeps pointing up. Should the [..]


Technical Analysis – USDJPY although briefly frozen, sustains a bearish tilt

Posted on April 2, 2020 at 9:03 am GMT

USDJPY has sunk aggressively following the latest slide that commenced on March 24, falling past all simple moving averages (SMAs) and under the 107.69 hurdle, that being the 38.2% Fibonacci retracement of the up leg from a 41-month low of 101.17 to 111.71. Currently, upside corrections seem limited by the mid-Bollinger band and the flattened and congested SMAs above. Backing a stalled negative phase are the short-term oscillators, which suggest a paused state of directional momentum. The MACD, below its [..]


Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:20 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]


Daily Market Comment – Dollar firms, stocks dive again as US virus cases soar

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

Risk sentiment sours again on mounting virus fallout, pulling stocks lower Manufacturing PMIs heighten recession fears; US ISM PMI next in focus Fed tries to ease dollar funding pressure but unable to keep currency down for long Stocks head south as virus panic returns It was a poor start to the second quarter for stock markets around the world as the growing coronavirus pandemic shows no sign of slowing, with the number of cases globally shooting past 800,000 yesterday. Stocks [..]


Daily Market Comment – Stocks buoyed by China PMIs; yen down on fiscal year-end positioning

Posted on March 31, 2020 at 8:45 am GMT

Chinese PMIs unexpectedly turn positive in March, lifting stocks, but only slightly Signs of contagion slowing in Europe but uncertain outlook keeps lid on sentiment Yen slips as Japanese investors scramble for dollars at end of fiscal year Some joy from bounce in Chinese PMIs Markets were in a relatively upbeat mood on Tuesday as encouraging PMI numbers out of China and a positive close on Wall Street lifted shares in Asia. European indices jumped more than 1% at the [..]


Technical Analysis – USDJPY remains above 100-SMA but in negative mode

Posted on March 30, 2020 at 9:13 am GMT

USDJPY seems to be completing a retracement near the 107.15 support level and the 100-period simple moving average (SMA), which coincides with the 38.2% Fibonacci level of the up leg from 101.15 to 111.70 at 107.67. The downfall from the one-month high of 111.70 drove the pair inside the Ichimoku cloud in the previous days, creating a bearish crossover within the 20- and 40-period SMAs. In momentum indicators, the RSI is pointing up after the bounce on the 30 oversold level, while the stochastic is turning higher [..]


Daily Market Comment – Dollar edges up, stocks muted in cautious start to week

Posted on March 30, 2020 at 8:32 am GMT

Stocks steady somewhat after Friday’s dip Dollar heads higher after worst week since 2009 Oil skids again; Brent hits 17-year low as world economy shuts down US stock futures attempt to rebound; risk of increased volatility Wall Street was unable to extend its winning streak to a fourth day on Friday but still managed to post its strongest week since 2009. Stocks had been steadily rising after a big gap lower at the open but went into reverse after the [..]


Week Ahead – China and US PMIs eyed for virus impact; NFP report poses threat to relief rally

Posted on March 27, 2020 at 1:34 pm GMT

The global crisis from the coronavirus pandemic has produced much turmoil in financial markets even though economic data on the impact has so far been scarce. That is about to change as March figures start rolling in. Given the extent of the market fallout, investors may already be expecting the worst. That’s not to say, however, that once the data lay bare the true scale of the economic damage, investors won’t be unnerved. The main releases next week that could [..]

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