Technical Analysis – AUDUSD tops moving averages but indicators move sideways

Posted on June 26, 2019 at 6:46 am GMT

AUDUSD has been extending its gains since the previous week following the strong support on the five-month low near 0.6830. The pair surpassed above the 20- and 40-day simple moving averages (SMAs) which are ready to post a bullish crossover, signaling further upside momentum. However, the stochastic oscillator seems to be losing momentum in the overbought territory, the RSI is still flattening slightly above the 50 level as well as the red Tenkan-sen and the blue Kijun-sen lines, all signaling a more cautious trading in the [..]

Daily Market Comment – Cautious optimism ahead of G20 summit; dollar slips to 3-month lows

Posted on June 24, 2019 at 8:06 am GMT

All eyes this week are on planned meeting between Presidents Trump and Xi at the G20 summit Cautious optimism that progress can be made in stalled trade talks lifts equities on Monday But growing tensions between the US and Iran weigh on sentiment Dollar remains under pressure as markets expect a near-term rate cut by the Fed Hopes rise of positive talks at G20 summit Markets started the week on a positive note on Monday on hopes that the talks [..]

Technical Analysis – AUDUSD capped below 200-SMA

Posted on June 21, 2019 at 9:39 am GMT

The 200-period simple moving average (SMA) in the four-hour chart seems to be a hurdle for the AUDUSD bulls over the past two days, and the falling RSI which heads towards its 50 neutral mark suggests that the market may stabilize in the short-term.  Exceeding the 200-period SMA and more importantly the upper surface of the Ichimoku cloud currently at 0.6940, the rally may get new steam, probably until the 0.6965 former resistance area. Further up, the bulls could retest [..]

Daily Market Comment – Stocks soar to new records after Fed; oil gains

Posted on June 21, 2019 at 7:49 am GMT

US stocks soar to new all-time highs after Fed European PMIs give the euro a helping hand UK leadership contest reaches final two – sterling outlook neutral Oil advances as supply concerns heighten, demand picture brightens Fed’s dovish signals propel US stocks to new records Stock markets have been among the main beneficiaries after the Fed laid the groundwork for near-term rate cuts, with the benchmark S&P 500 (+0.95%) index closing at a fresh record high yesterday. Falling interest rates [..]

Daily Market Comment – Fed confirms rate cuts loom, dollar crumbles

Posted on June 20, 2019 at 7:45 am GMT

Fed was remarkably dovish, sending the dollar lower BoE meets today; sterling may gain a little on reaffirmation of tightening bias Loonie flies as BoC may be the sole ‘island of neutrality’ Dollar tanks, gold soars as Fed signals incoming cuts The Fed kept rates unchanged yesterday, but the meeting wasn’t short of excitement as policymakers endorsed the market’s expectations for rate cuts as much as possible. One official voted for an immediate cut, while the Committee as a whole [..]

Daily Market Comment – Fed meets; will Chair Powell be dovish enough?

Posted on June 19, 2019 at 7:53 am GMT

All eyes on Fed – Powell may have trouble satisfying the bears Euro cruises lower as Draghi signals more stimulus Stocks roar higher as Trump-Xi agree to meet at G20 UK & Canadian inflation data coming up Fed meeting: Dovish, but enough to appease the market? The main event today will be the Fed policy decision at 18:00 GMT, followed by a press conference from Chairman Powell half an hour later. A more dovish tone seems almost certain in light [..]

Daily Market Comment – Markets await central bank signals; pound slides

Posted on June 18, 2019 at 8:07 am GMT

Markets look to ECB forum today for easing hints – Draghi torpedoes euro Pound takes another hit ahead of more Tory leadership votes Aussie drops after RBA minutes reaffirm dovish stance Traders await signals as central bankers gather under one roof Markets continue to trade in a relatively quiet manner, with limited movements in most currencies and stocks as investors remain wary of increasing their risk exposure ahead of pivotal events this week – most notably, the Fed decision tomorrow. With [..]

Week Ahead – Markets seek rate cut signals from Fed; BoE and BoJ meet too; euro eyes flash PMIs

Posted on June 14, 2019 at 10:56 am GMT

Central bank meetings will be front and centre next week as the Federal Reserve, Bank of England and Bank of Japan convene for their policy decisions. The Fed will likely grab the most attention amid intensifying expectations of a rate cut. In terms of data releases, the main focus will be on inflation as Canada, the Eurozone, Japan and the United Kingdom report for the month of May. Flash PMIs out of the Eurozone will be important too, so will [..]

Daily Market Comment – Oil, gold up on Middle East tensions; dollar steady ahead of US retail sales

Posted on June 14, 2019 at 8:03 am GMT

Brent crude extends gains following tanker attack in Gulf of Oman; gold lifted too Dollar heads for weekly gains as US retails sales and Fed meeting eyed Aussie and kiwi sag on growing rate cut bets Oil jumps on renewed tensions in Middle East Market sentiment was mixed on Friday as ongoing trade uncertainty and a flare up in Middle East tensions were partly offset by growing expectations that the Fed will come to the rescue of a weakening economic [..]

Daily Market Comment – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

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