Daily Market Comment – Dollar and stocks edge lower on G20 doubts; Powell speech eyed

Posted on June 25, 2019 at 8:06 am GMT

Worries of no progress at Trump-Xi talks at G20 summit gives rise to risk aversion Iranian tensions also weigh on markets after US imposes new sanctions Dollar extends slide, while euro hits 3-month high above $1.14 level Fed in focus as Powell and others due to speak later in today Trade concerns hit sentiment ahead of G20 The faint optimism that US President Trump and Chinese President Xi will be able to resolve some of their trade difference faded late [..]

Daily Market Comment – Cautious optimism ahead of G20 summit; dollar slips to 3-month lows

Posted on June 24, 2019 at 8:06 am GMT

All eyes this week are on planned meeting between Presidents Trump and Xi at the G20 summit Cautious optimism that progress can be made in stalled trade talks lifts equities on Monday But growing tensions between the US and Iran weigh on sentiment Dollar remains under pressure as markets expect a near-term rate cut by the Fed Hopes rise of positive talks at G20 summit Markets started the week on a positive note on Monday on hopes that the talks [..]

Technical Analysis – EURUSD beats 200-day SMA for first time in a year

Posted on June 24, 2019 at 7:13 am GMT

EURUSD staged a quick recovery last week, with the price crawling above the 200-day simple moving average (SMA) for the first time in more than a year. On Monday, the bullish pattern gained extra credence as the pair extended its positive momentum towards a new three month high of 1.1385. According to the RSI, which maintains a positive slope above its 50 neutral mark, there is still some upside in store. The indicator, however, is not far above the 70 overbought level, a sign that downside corrections [..]

Week Ahead – All eyes on G20 summit for trade progress; RBNZ meets

Posted on June 21, 2019 at 11:31 am GMT

As heightened trade tensions force central banks around the world to take a dovish turn, the fate of the US-China trade talks will be determined at the G20 summit in Japan. The planned meeting between US President Trump and Chinese President Xi will be the highlight of the week as investors will be hoping for a thaw in the strained relations between the two leaders. Central banks will not totally disappear from the limelight as the RBNZ will hold its [..]

Daily Market Comment – Stocks soar to new records after Fed; oil gains

Posted on June 21, 2019 at 7:49 am GMT

US stocks soar to new all-time highs after Fed European PMIs give the euro a helping hand UK leadership contest reaches final two – sterling outlook neutral Oil advances as supply concerns heighten, demand picture brightens Fed’s dovish signals propel US stocks to new records Stock markets have been among the main beneficiaries after the Fed laid the groundwork for near-term rate cuts, with the benchmark S&P 500 (+0.95%) index closing at a fresh record high yesterday. Falling interest rates [..]

Eurozone PMIs in spotlight after Draghi’s ‘additional stimulus’ comments – Forex News Preview

Posted on June 20, 2019 at 9:39 am GMT

The flash release of the Eurozone PMIs for June will be on investors’ radar on Friday at 0800 GMT. After the European Central Bank chief, Mario Draghi, gave his clearest indication yet on Tuesday that more stimulus could be on the way, the PMI data will be watched closely for possible signs that Eurozone growth is stagnating again. In the meantime, there is some relief for the euro as the Federal Reserve makes an even bigger dovish turn than the [..]

Daily Market Comment – Fed confirms rate cuts loom, dollar crumbles

Posted on June 20, 2019 at 7:45 am GMT

Fed was remarkably dovish, sending the dollar lower BoE meets today; sterling may gain a little on reaffirmation of tightening bias Loonie flies as BoC may be the sole ‘island of neutrality’ Dollar tanks, gold soars as Fed signals incoming cuts The Fed kept rates unchanged yesterday, but the meeting wasn’t short of excitement as policymakers endorsed the market’s expectations for rate cuts as much as possible. One official voted for an immediate cut, while the Committee as a whole [..]

Daily Market Comment – Fed meets; will Chair Powell be dovish enough?

Posted on June 19, 2019 at 7:53 am GMT

All eyes on Fed – Powell may have trouble satisfying the bears Euro cruises lower as Draghi signals more stimulus Stocks roar higher as Trump-Xi agree to meet at G20 UK & Canadian inflation data coming up Fed meeting: Dovish, but enough to appease the market? The main event today will be the Fed policy decision at 18:00 GMT, followed by a press conference from Chairman Powell half an hour later. A more dovish tone seems almost certain in light [..]

Technical Analysis – EURUSD bears pierce 1.12 support level; negative bias strengthens

Posted on June 18, 2019 at 11:55 am GMT

EURUSD is currently trading below the 1.1200 level that kept bears in check in the previous two sessions, with the RSI and the MACD suggesting more downside to follow as the former is losing momentum below its 50 neutral mark and the latter is weakening below its red signal line. Should the market come under stronger negative pressure, the 1.1110 bottom could prove tough to break through as it did earlier this year. If not, the selling may get new legs, with support coming next somewhere between 1.10-1.0950. [..]

Daily Market Comment – Markets await central bank signals; pound slides

Posted on June 18, 2019 at 8:07 am GMT

Markets look to ECB forum today for easing hints – Draghi torpedoes euro Pound takes another hit ahead of more Tory leadership votes Aussie drops after RBA minutes reaffirm dovish stance Traders await signals as central bankers gather under one roof Markets continue to trade in a relatively quiet manner, with limited movements in most currencies and stocks as investors remain wary of increasing their risk exposure ahead of pivotal events this week – most notably, the Fed decision tomorrow. With [..]

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