US jobless claims to show pain, but dollar might like that – Forex News Preview

Posted on April 8, 2020 at 10:26 am GMT

In America, the spotlight will be on Thursday’s weekly jobless claims and consumer confidence numbers, which will reveal how quickly unemployment is rising and how badly the consumer has been hit. Contrary to conventional wisdom though, a disappointing set of data could boost the US dollar, which has been acting like a safe haven amid all the chaos. The minutes of the latest FOMC meeting today and CPI inflation stats on Friday might be seen as outdated. Unemployment: A tragedy [..]

Daily Market Comment – Euro rebound falters as EU rejects Eurobonds; stocks go nowhere

Posted on April 8, 2020 at 8:22 am GMT

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far?   Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro struggles The Eurozone’s institutional deficiencies came back on the market’s radar today, after a lengthy meeting of the bloc’s finance ministers ended without an agreement [..]


Virus containment could spell trouble for the dollar – Special Report

Posted on April 7, 2020 at 2:18 pm GMT

It didn’t take long for the US dollar to reclaim its crown as king of currencies after a brief but sharp sell-off in late February. An acute shortage of dollars across global markets, driven by a panic rush for cash as the virus turmoil deepened, has bolstered the US currency’s safe haven status. But amid some tentative signs of a possible levelling-off in the rise of new infected cases, is there a risk of the dollar falling off a cliff? [..]

Daily Market Comment – Dollar retreats, equities squeeze higher as contagion slows

Posted on April 7, 2020 at 8:44 am GMT

US stocks climb 7% on signs the pandemic has peaked in Europe, dollar and yen struggle Talk of another multi-trillion US rescue package supporting sentiment too Gold rallies on hedging and deficit expectations Today: Eurogroup meeting on ‘coronabonds’ could be vital for euro Virus slowdown and stimulus talk: Music for stocks Markets continue to price in an improvement in the global economy, with Wall Street rallying 7% on Monday and futures pointing to a higher open today as well, amid [..]

Daily Market Comment – Signs of virus slowdown breathe life into markets

Posted on April 6, 2020 at 8:32 am GMT

Stocks roar higher, yen stumbles as new infections plateau in Europe   Is this recovery sustainable though, or just another bear market rebound? Oil remains in focus as OPEC+ postpones meeting – will they cut enough? Risk appetite returns on hopes ‘peak virus’ is behind us Global markets woke up in a better mood on Monday, with stocks in Tokyo gaining roughly 4% and futures pointing to a similar open in New York, as a slowdown in new infections in [..]

Technical Analysis – EURUSD in a rollercoaster mode last month; re-tests 1.0800

Posted on April 6, 2020 at 7:16 am GMT

EURUSD recovered its strong sell-off from the 13-month peak of 1.1495 to the three-year low of 1.0635, as it jumped close to the 61.8% Fibonacci retracement level of this downward move at 1.1170. Currently, the price is edging sharply lower again beneath the moving average lines and near the 1.0800 psychological mark. The market is lacking clear direction in the short-term as it is failing to create a clear trend. The MACD is ready for a bearish cross within its [..]

Week Ahead – Another dose of the virus blues?

Posted on April 3, 2020 at 12:38 pm GMT

The pandemonium in financial markets has calmed down somewhat, but that serenity seems fragile and investors will keep a close eye on how fast the virus is spreading in America, which is now entering the most painful phase. On the bright side, Europe looks close to a ‘peak’ in new cases. That said, markets will probably remain nervous until the US shows signs of stabilization too, and since that point might be weeks away, risk aversion could linger. As for [..]

Daily Market Comment – Oil seesaws on doubts about Saudi-Russia cuts; dollar firms ahead of NFP

Posted on April 3, 2020 at 8:27 am GMT

Oil surges then dips as markets question Trump’s claim of a Russia-Saudi Arabia deal Stocks turn lower as oil boost fades, services PMIs spread gloom Dollar set for weekly gains; unlikely to be held back by poor NFP Oil spikes as Trump ups pressure on Russia and Saudi Arabia Oil prices saw their biggest daily jump on record on Thursday after President Trump tweeted that Russia and Saudi Arabia – the world’s biggest oil producers after the United States – [..]


Technical Analysis – EURUSD slips near 1.0900; SMAs seem ready for bearish cross

Posted on April 2, 2020 at 9:35 am GMT

EURUSD is falling lower again near 1.0900, below the 20- and 40-period simple moving averages (SMAs) and the 38.2% Fibonacci retracement level of the down leg from 1.1495 to 1.0636 at 1.0962 over the last days. The pullback on the confronted 1.1150 level appeared to be a strong resistance for the bulls as the short-term trading is shifting bearish again. The stochastic oscillator is turning lower again, while the RSI is sliding below the 50 level and the MACD oscillator is extending its negative momentum below the zero line. [..]

Nonfarm payrolls: Too early for the real carnage – Forex News Preview

Posted on April 2, 2020 at 8:52 am GMT

The all-important US employment report for March will see the light at 12:30 GMT on Friday, and investors will be anxious to find out exactly how many Americans lost their jobs at the onset of the virus crisis. Alas, since these data were collected in the first half of March, before many of the virus-related shutdowns, they probably won’t reflect much of the devastation in the labor market. As for the dollar, the picture still looks positive amid the market [..]

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