Daily Market Comment – Dollar edges up amid the wait for elusive stimulus and Brexit deals

Posted on December 18, 2020 at 10:01 am GMT

Dollar selling eases as caution creeps in, but still set for big weekly losses The long wait for deals in Washington and Brussels takes edge off risk rally Stocks mixed, some volatility may lie ahead Dollar bears pause for breath as Congress in race against time The US dollar was attempting to end its week-long losing streak on Friday as doubts about how soon a stimulus deal in Congress and a Brexit trade pact between the UK and EU can [..]

Daily Market Comment – Dollar whipsaws on Fed’s dovish guidance, upbeat forecasts

Posted on December 17, 2020 at 9:56 am GMT

Fed commits to current pace of QE until it sees “substantial further progress” Dollar jumps on modest tweak, rosy outlook before being pummelled by dovish Powell Pound continues to soar on Brexit deal optimism, euro climbs new highs too Aussie and kiwi on a roll as strong data, US stimulus hopes maintain bullish momentum Fed disappoints before Powell has to reassure The Federal Reserve pledged on Wednesday to keep buying bonds at the existing pace of $120 billion per month [..]

Technical Analysis – AUDUSD stretches bullish wave to fresh 2 ½-year high

Posted on December 17, 2020 at 8:30 am GMT

AUDUSD’s impressive rally shows no signs of abating as the pair is set to explore the 0.7600 zone for the first time in 2 ½ years. The pair seems to have completed a three-step corrective cycle (a-c) and is currently building a new bullish wave, with the technical indicators endorsing the positive mode in the market. Although well into the overbought territory, the RSI and the Stochastics have yet to find a turning point, reflecting a cautiously bullish short-term bias. [..]

Daily Market Comment – Two deals in the making and a Fed dilemma

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

US congressional leaders close in on a stimulus deal as talks continue Brexit chatter lifts pound amid rumours a trade deal is within grasp Dollar on the backfoot ahead of least predictable Fed meeting of the year Hopes rise for a deal in Congress Hopes are running high on Capitol Hill that a stimulus deal can be reached after reported progress on Tuesday. US political leaders are set to meet again later today as they inch closer to agreeing on [..]


Technical Analysis – EURCHF looks neutral-to-bullish; indicators are flat

Posted on December 15, 2020 at 1:11 pm GMT

EURCHF seems to be range bound, something also reflected in the flattening technical indicators. The RSI is standing near the neutral threshold of 50, while the MACD is trying to jump above the zero line with weak momentum. The directionless Ichimoku lines and the steadied cloud further reflect this view, however, the 20- and 40-period simple moving averages (SMAs) are ready to post a bullish crossover in the short-term. In case of positive pressures, initial tough resistance could develop from [..]


Eyes on Australian employment report after flash PMIs; aussie hits 30-month high – Forex News Preview

Posted on December 15, 2020 at 1:05 pm GMT

Australia’s employment report for November is likely to be in the spotlight on Thursday at 0030 GMT after the flash PMIs figures on Tuesday, 22:00 GMT. In December’s Reserve Bank of Australia’s (RBA) policy meeting, the minutes showed its Board feared a protracted period of unemployment lay ahead and rectifying that would be a priority. Nevertheless, the aussie continues to move higher against the US dollar but may soon need a boost for stronger bullish movements.   Unemployment predicted to remain unchanged; flash PMIs [..]

Daily Market Comment – Dollar steadies amid fresh virus restrictions; stimulus and Brexit talks linger

Posted on December 15, 2020 at 9:35 am GMT

Tighter virus restrictions dampen vaccine optimism; dollar halts slide, stocks struggle US stimulus talks gain momentum but still no agreement London lockdown knocks pound off its Brexit perch as ‘narrow path’ to deal eyed New virus curbs weigh on sentiment Optimism that an end to the global pandemic is within sight was unable to override the darkening clouds on the immediate horizon as Covid restrictions are on the up again. After Germany’s news that it is to enter a hard [..]


Technical Analysis – AUDUSD’s sturdy uptrend unbroken; bullish signals grow

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

AUDUSD is confronting the fresh near 30-month high of 0.7571, attempting to revive the upside trajectory, despite the mini-pullback in the pair. The bullish Ichimoku lines are sponsoring positive momentum, while the advancing simple moving averages (SMAs) are defending the predominant positive picture. The short-term oscillators seem to be favouring an upside scenario. The MACD, some distance in the positive region, is fairly in-line with the flattening red trigger line, while the RSI looks to be in the process of [..]

Daily Market Comment – Pound jumps as Brexit deadline extended yet again

Posted on December 14, 2020 at 9:47 am GMT

Pound soars after Britain and the EU agree to continue talking Progress in US stimulus talks also lifts markets’ spirits, dollar sags But cause for caution ahead of Fed meeting, stocks up modestly UK and EU agree to go “extra mile” to get a deal After a bruising week, sterling was once again riding high on renewed optimism for a post-Brexit trade deal on Monday. UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen had set [..]

Daily Market Comment – ECB ‘disappointment’ lifts euro, equities struggle

Posted on December 11, 2020 at 9:34 am GMT

Euro jumps after ECB fails to over-deliver on stimulus package Stocks bounce as Mnuchin hails progress in stimulus talks, but fall back Oil breaks higher, unscathed by recent negative developments Brexit will continue to dominate ahead of Sunday ‘deadline’ ECB firepower fails to impress markets, euro spikes Those looking for a euro-killing stimulus package by the European Central Bank were left disappointed yesterday, with policymakers delivering exactly as much ‘juice’ as markets anticipated. The Bank expanded its QE program by [..]

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