Australian Q4 capex to rise but unlikely to arrest aussie’s decline – Forex News Preview

Posted on February 25, 2020 at 1:02 pm GMT

Quarterly data on construction (Wednesday, 0030 GMT) and capital expenditure (Thursday, 0030 GMT) are awaited in Australia this week and should provide some indication as to what to expect from Q4 GDP numbers due next week. It’s likely capital spending will have risen for the first time in a year in the December quarter, but given the new headwinds – the coronavirus outbreak and the bushfires – facing the Australian economy in 2020, the data may not matter much for [..]

Daily Market Comment – Stocks steadier but risk aversion still in play; dollar pressured by falling yields

Posted on February 25, 2020 at 9:35 am GMT

Stocks stage tepid rebound but virus fears continue to cast shadow over markets Dollar on the backfoot on rising Fed rate cut expectations; gold slips Aussie and kiwi pause slide as softer dollar provides some relief Markets calmer after stocks suffer biggest drop since 2016 Global stock markets stabilized on Tuesday after yesterday having their worst day since Britain voted to leave the European Union in June 2016. A report in China’s Global Times that a university professor has developed [..]

Daily Market Comment – Contagion fears intensify; stocks tumble, gold surges, dollar rebounds

Posted on February 24, 2020 at 9:38 am GMT

Jump in number of infections outside China sends panic across financial markets Stocks take a large hit; gold scales fresh 7-year high amid flight to safety Dollar’s gains more restrained as Fed rate cut bets rise after weak US data Concerns mount about virus impact after spike in global cases The number of confirmed coronavirus cases outside of China continued to multiply over the weekend, sending shivers across financial markets as investors were forced to reassess their view that the [..]

Week Ahead – Virus risks to set market tone in muted data week

Posted on February 21, 2020 at 1:46 pm GMT

With not much on the economic calendar to enthuse markets next week, the virus and its impact on economies globally is likely to remain the primary driver of risk sentiment. Still, there are some important indicators worth keeping an eye on. Overall, there’s little to suggest that the dollar’s relentless rally is about to end, as the US economy is much better positioned than its rivals to weather any slowdown in China. That said, the more the dollar climbs, the [..]

Daily Market Comment – Dollar and gold shine but yen subdued as virus cases spike again

Posted on February 21, 2020 at 9:22 am GMT

Flight to safety boosts dollar and gold, yen nurses losses as new virus cases jump again Risk aversion finally reaches equity markets as global stocks stumble All eyes on flash PMIs as virus outbreak shows no sign of abating Dollar holds firm; gold hits fresh 7-year highs The risk-off mood deepened on Friday as China reported another spike in new confirmed cases of the coronavirus, most of which were in two prisons in Hubei province. But investors were also spooked [..]

Daily Market Comment – Yen slumps, dollar reigns supreme as virus fears persist

Posted on February 20, 2020 at 9:24 am GMT

Yen tumbles on virus worries as investors seek safety elsewhere; dollar surges Virus spread slows but change in counting methodology casts doubt Aussie and kiwi extend slide on growth concerns Is yen losing its safe-haven status? The Japanese yen came under attack on all fronts on Wednesday, sending the safe-haven currency plunging against all its peers, even against the beleaguered euro and pound. The biggest beneficiary of the yen sell-off was the US dollar, which scaled a near 10-month peak, [..]

Technical Analysis – AUDUSD could see further weakness near 11-year low

Posted on February 19, 2020 at 7:29 am GMT

AUDUSD is moving sideways within the 23.6% Fibonacci retracement level of the downward wave from 0.7030 – 0.6661 near 0.6750 to the eleven-year low of 0.6661. The latest level was reached on February 7 and acted as a reversal mark ahead of three consecutive green days. Technically, the RSI is in bearish territory below 50 but is clearly pointing up, while the MACD is gaining some ground above the trigger line in the negative area. Moreover, the 20- and 40- [..]

Australian jobs data: A risk in disguise for the aussie? – Forex News Preview

Posted on February 18, 2020 at 10:47 am GMT

After taking a beating from virus concerns, the Australian dollar will now look to the nation’s wage growth data for Q4 that are due on Wednesday before the all-important jobs numbers for January due on Thursday, both at 00:30 GMT. The risks surrounding the aussie from these releases appear tilted to the downside. Stellar figures might be brushed aside as outdated, but disappointing ones could signal the economy was already losing steam before the virus impact. Collateral damage The aussie [..]

Daily Market Comment – Apple profit warning rattles markets; gold edges up

Posted on February 18, 2020 at 9:34 am GMT

Apple Inc says it will miss revenue guidance due to China plant shutdown Stocks slide as Apple warning dashes hopes of quick rebound from virus fallout Gold hits 2-week high, oil declines on growing virus impact Pound under pressure as Britain talks tough on future trade deal with EU Markets get dealt reality check by Apple profit warning US tech giant, Apple Inc, issued a rare profit warning on Monday, saying it will miss its first quarter revenue guidance as [..]

Week Ahead – Flash February PMIs eyed as virus outbreak shows few signs of slowing

Posted on February 14, 2020 at 10:48 am GMT

The preliminary PMIs for February will take centre stage next week as they will provide the first insight into the possible impact of the coronavirus on the global economy. The flash releases in the Eurozone, Japan, the United Kingdom and the United States should reveal how businesses outside of China have been affected by the outbreak with the risk that runaway equity markets may be handed a tough reality check. In other data, Australian employment and Canadian and UK retail [..]

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