Week Ahead – US next to report Q1 GDP; BoC and BoJ meet amid growth worries

Posted on April 19, 2019 at 9:31 am GMT

After China’s upbeat growth numbers this week, all eyes will be on the US economy’s performance during the first quarter. Aside from the US GDP, it’s going to be a rather quiet seven days for economic data due to the shortened Easter week but there will be two major central bank meetings to keep traders at their desks. The Bank of Canada and the Bank of Japan will announce their latest policy decisions in the coming days. Aussie looks to [..]

European Open Preview – Dollar powers ahead on strong US data; euro stumbles

Posted on April 19, 2019 at 8:07 am GMT

US dollar and Wall Street lifted by solid economic data and earnings But euro, pound, aussie and kiwi turn lower on Eurozone woes, resurgent dollar Thin liquidity expected today as many markets closed for Good Friday US recession fears ebb after retail sales bounce Dollar bulls made a comeback on Thursday after retail sales in the US unexpectedly surged in March and weekly jobless claims fell to their lowest in nearly half a century. The data once again highlighted the [..]

European Open Preview – Wall Street pulls back; euro hit by German PMIs

Posted on April 18, 2019 at 8:00 am GMT

US markets retreat as healthcare stocks ‘feel the Bern’ Moves in FX generally subdued, but euro takes a hit after German PMIs Retail sales data coming up in UK, US, and Canada today Wall Street inches down as healthcare stocks weigh ‘Sanders risk’ US equity markets retreated modestly on Wednesday, with losses in the healthcare sector eclipsing encouraging earnings elsewhere. The benchmark S&P 500 fell by 0.23%, weighed down by pharmaceutical giants UnitedHealth (-1.87%), Pfizer (-2.49%), and Merck (-4.72%), among [..]

Euro area PMIs: too early for a substantial rebound? – Forex News Preview

Posted on April 17, 2019 at 12:58 pm GMT

The Eurozone’s preliminary PMIs for April are due on Thursday at 08:00 GMT and forecasts point to a rebound, albeit only a modest one. Make no mistake, these are the most important figures for the euro right now, and any substantial surprise will likely dictate the currency’s near-term direction. Alas, a major upside surprise seems somewhat unlikely for now. After a long period of being largely ignored by the market, the Eurozone’s PMIs have returned with a vengeance in recent [..]

European Open Preview – Aussie jumps on China GDP boost but limited gains for stocks

Posted on April 17, 2019 at 8:14 am GMT

Fears of a global slowdown ease substantially after China posts stronger-than-expected GDP data for the first quarter The data lifts risk-assets with the Australian dollar being the main beneficiary But broader gains are limited amid caution about the outlook China GDP beats expectations, industrial output surges Markets cheered upbeat economic figures out of China on Wednesday, continuing the series of positive numbers out of the country over the past couple of weeks. China’s economy expanded by 6.4% year-on-year in the [..]

European Open Preview – Major pairs steady as China GDP awaited; aussie slips on rate cut bets

Posted on April 16, 2019 at 8:15 am GMT

Dollar steady as markets await economic releases for more clues on outlook amid signs of green shoots China GDP will be the week’s highlight and key in building on the current risk-on tone Market mood to also be determined by US earnings season as banks’ results underwhelm Aussie worst performing currency after RBA sets condition for rate cut Dollar off lows ahead of important data The positive risk sentiment from Friday continued to ease slightly on Tuesday as investors preferred [..]

European Open Preview – Dollar and yen pressured as China optimism lifts markets

Posted on April 15, 2019 at 8:22 am GMT

Safe-haven favourites, the dollar and the yen, trade near Friday’s lows as positive data out of China triggers a risk rally Encouraging comments from Mnuchin on US-China trade talks also helps risk sentiment Focus this week to centre on US earnings and China GDP ahead of long Easter weekend Jump in Chinese lending eases growth jitters Fears of a global slowdown, which were amplified early last week after the IMF lowered its global growth forecasts, subsided substantially on better-than-expected economic [..]

Technical Analysis – EURUSD in bullish mood but caution still needed

Posted on April 15, 2019 at 7:09 am GMT

EURUSD is pushing hard to enter the 1.13 neighbourhood and pierce its 50-day simple moving average (SMA) after a bullish week. Technically, the risk seems to be skewed to the upside as the RSI is holding a positive slope above its 50 neutral mark and the MACD continues to distance itself above its red signal line. However, with the stochastics fluctuating near overbought territory, any gains could come limited. Should the pair overcome the 23.6% Fibonacci of 1.1326 of the [..]

Week Ahead – China Q1 GDP eyed; inflation data to dominate elsewhere

Posted on April 12, 2019 at 1:44 pm GMT

Markets will take a break from central banks and Brexit news over the coming week as the focus moves firmly onto economic fundamentals. Monthly inflation reports will be the dominant release, followed by retail sales estimates. The latest flash PMIs will also be keenly watched amid tepid signs of a recovery in some parts of the world. But while the upcoming data could prove significant in identifying shifting trends, major FX pairs will likely struggle to break out of their [..]

European Open Preview – Earnings season kicks off; dollar struggles to advance

Posted on April 12, 2019 at 6:38 am GMT

US earnings season commences with JPMorgan & Wells Fargo Dollar advances alongside US yields, but pares gains Yen retreats ahead of US-Japan trade talks, gold follows Earnings season kicks off with major US banks US equity markets closed practically flat yesterday, though the Nasdaq Composite (-0.22%) did post some losses, with traders appearing reluctant to take on new positions ahead of what promises to be a stormy earnings season. US banking behemoths JPMorgan Chase and Wells Fargo will report their [..]

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