Daily Market Comment – Trump fans the geopolitical flames ahead of NFP

Posted on August 7, 2020 at 8:10 am GMT

Nonfarm payrolls to set the tone for markets, along with stimulus negotiations Trump fires another salvo at Beijing, bans transactions with Tencent, moves to delist Chinese firms Geopolitical worries keep dollar alive, Wall Street set to snap 5-day winning streak Nonfarm payrolls: A most uncertain one The main event today will be the US employment report for July. The consensus is for the US economy to have added another 1.6 million jobs, pushing the unemployment rate down to 10.5%, from [..]

Daily Market Comment – Bank of England lifts sterling; dollar battered but still standing

Posted on August 6, 2020 at 8:25 am GMT

Sterling jumps after BoE seems reluctant towards negative rates, upgrades forecasts Stocks climb, dollar resumes downfall as markets keep betting Congress will deliver Dollar testing a crucial support area again – tomorrow’s NFP may be pivotal Otherwise, the spotlight remains on whether Congress will reach a deal soon BoE strikes a more cheerful tone, pound listens The Bank of England (BoE) unanimously voted to keep its policy unchanged today and struck a fairly optimistic tone. Even though it acknowledged the [..]

Technical Analysis – AUDUSD takes a breather; maintains healthy positive picture

Posted on August 6, 2020 at 8:15 am GMT

AUDUSD is experiencing a steady appreciation and appears to be barely affected by a recent stumble in the price. This is reflected in the rising Ichimoku lines, which indicate that the pair’s positive momentum is intact. Furthermore, the Ichimoku cloud, the 50- and 100-day simple moving averages (SMAs), and the nearing bullish crossover of the 200-day SMA by the 100-day one may keep confidence in the ascent for a while longer. Glancing at the oscillators, positive momentum looks paused in [..]

Daily Market Comment – Dollar comeback falters as yields sink, gold sparkles

Posted on August 5, 2020 at 8:39 am GMT

Greenback attempts comeback, but fails as bond yields plummet Gold salutes crumbling dollar and yields, hits new record above $2000 Stocks crawl higher as stimulus negotiations ‘move in the right direction’ Overall, bond market is saying something’s wrong, but stocks don’t mind Falling bond yields stop dollar rebound in its tracks Those hoping for a summer lull in financial markets come August have likely been left disappointed, as there has been absolutely no shortage of volatility so far this week. [..]

Daily Market Comment – Nasdaq conquers new heights as US infections slow down

Posted on August 4, 2020 at 8:15 am GMT

Stocks gain altitude on slowing contagion and encouraging data Most currencies trade in wide ranges, but go nowhere Overall, market focus remains on Congress, where little progress is apparently being made Nasdaq hits new records as tech keeps the dream alive Positive sentiment dominated financial markets at the onset of the new week, with global stock indices and risk-sensitive commodities like oil edging higher, powered by a persistent slowdown in US infections and some encouraging manufacturing numbers. America reported fewer [..]


Technical Analysis – AUDUSD uncovers footing at lower surface of Ichimoku cloud

Posted on August 3, 2020 at 3:27 pm GMT

AUDUSD seems to have found a foothold around the fortified 0.7063 trough. Reinforcing this area is the lower surface of the Ichimoku cloud and the 100-period simple moving average (SMA). Currently, the falling Ichimoku lines are reflecting weakness in positive momentum as are the short-term oscillators. That said, the red Tenkan-sen line has yet to complete a negative overlap of its blue Kijun-sen line. Moreover, the RSI is pointing upwards in the bearish zone, while the MACD is holding slightly [..]

Daily Market Comment – Dollar shrugs off ratings downgrade, RBA in focus

Posted on August 3, 2020 at 8:17 am GMT

Dollar rebounds on profit-taking and short-covering, despite Fitch downgrade – is this a dead cat bounce? Stocks remain near highs as tech giants fly, next big move depends on Congress Australia tightens lockdown in Victoria, telegraphing dovish shift by RBA overnight Dollar shows signs of life, but is it just flows? The world’s reserve currency staged a comeback on Friday and continues to lick its wounds at the start of the new week, shrugging off a credit ratings downgrade by [..]

Aussie braces for dovish tilt by RBA as Australia battles second virus wave – Forex News Preview

Posted on July 31, 2020 at 1:06 pm GMT

The Reserve Bank of Australia is set to stand pat again when it announces its latest policy decision on Tuesday at 0430 GMT. As the Australian economy climbs out of its worst recession in decades, policymakers are not anticipated to feel the urge to act in July. However, with the country continuing to see an alarming surge in new coronavirus cases, it may only be a matter of time before additional monetary support becomes necessary. Any hints on Tuesday that [..]

Week ahead – Can nonfarm payrolls halt the dollar’s descent?

Posted on July 31, 2020 at 12:41 pm GMT

It’s a huge week ahead, with the Reserve Bank of Australia and the Bank of England both announcing their rate decisions ahead of the all-important US employment data. For markets, the burning question is whether a decent payrolls report will be enough to halt the dollar’s relentless slide. The other variable that will impact most charts through the risk sentiment channel is whether Congress will reach a compromise on the new rescue package, and if so, how much will they [..]

Daily Market Comment – Dollar resumes slide; stocks struggle but tech bucks the trend

Posted on July 31, 2020 at 8:55 am GMT

Dollar slumps again as US economy crashes, heads for fiscal cliff Euro, pound and aussie catapult higher but yen’s jump raises eyebrows European and Asian shares skid but big tech earnings lift Nasdaq Dollar on track for worst month in decade The US dollar is headed for its worst monthly performance in nearly 10 years as economic and political woes in America increasingly undermine the world’s reserve currency just as the outlook elsewhere brightens somewhat. The US economy collapsed by [..]

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