Daily Market Comment – Stimulus hopes lift sentiment; dollar approaches 3-week highs

Posted on August 20, 2019 at 8:24 am GMT

Stocks extend gains as prospect of more stimulus overrides worries about fallout from trade war US dollar edges higher as Treasury yields recover; Fed minutes and Powell speech awaited Aussie firms on RBA minutes; euro struggles amid unease about Italy Global stimulus hopes continue to drive sentiment Growing signs that more governments and central banks around the worlds are taking measures to support their economies remained the main market driver on Tuesday. Most major indices in Asia closed around 1% [..]

Daily Market Comment – Stocks up on China rate reform; dollar firms ahead of Jackson Hole

Posted on August 19, 2019 at 8:20 am GMT

Risk sentiment continues to improve on reports of China interest rate reforms and German fiscal stimulus Stocks have a positive start to week while safe-havens yen, Swiss franc and gold retreat Dollar holds firm as markets await policy cues from Powell at Jackson Hole symposium China reforms and German stimulus reports boost markets Markets opened in a positive mood on Monday, extending the rebound in risk appetite from late last week. Sentiment was boosted from developments over the weekend that [..]

Technical Analysis – EURUSD looks for a rebound but upside could be limited

Posted on August 19, 2019 at 7:38 am GMT

EURUSD surrendered most of its monthly gains and dropped below 1.1100 after finding a wall around the 50-day simple moving average (SMA) and the 1.1230-1.1250 area. Technically, the price could pause negative momentum in the very short-term as the Stochastics signal oversold conditions. The RSI seems to be easing downside movement as well, though as long as it holds under its 50 neutral-mark, any upside correction in the price is likely to appear insignificant. Note that the red Tenkan-sen reversed back south [..]


Week Ahead – Fed minutes and Jackson Hole eyed for policy direction; ECB minutes and Eurozone PMIs also in focus

Posted on August 16, 2019 at 10:47 am GMT

The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]


Daily Market Comment – Markets steadier but recession fears persist; strong US data lifts dollar

Posted on August 16, 2019 at 8:19 am GMT

Stocks head higher as Trump trade comments and strong US retail sales calm markets But fears of a downturn persist as bond markets remain in dangerous territory Pound up on latest bid by UK opposition parties to thwart no-deal Brexit Stock market sell-off eases on positive headlines Stocks in Asia were mostly positive on Friday and European and US equity futures were also pointing to a firmer start following yesterday’s rebound in risk appetite. Sentiment was boosted from a surprise [..]


Daily Market Comment – Dollar and stocks rally in relief after tariff delays

Posted on August 14, 2019 at 7:54 am GMT

US tariff exemptions lift risk sentiment – stocks soar, yen retreats     But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]


Daily Market Comment – Hong Kong concerns keep risk aversion in play

Posted on August 13, 2019 at 7:57 am GMT

Safe havens shine and stocks retreat – mainly on fears about Hong Kong   Deteriorating political outlook in Italy likely adding to risk aversion Busy calendar today, with crucial UK, German, and US data coming up Stocks stumble on reports China may crack down on Hong Kong protests Risk aversion was the name of the game on Monday, as worrisome political headlines triggered another rotation away from risky assets like stocks, and into the safety of havens like the Japanese [..]


Technical Analysis – EURUSD fails multiple times to breach short-term downtrend line

Posted on August 12, 2019 at 9:07 am GMT

EURUSD is under pressure again after finding support around 1.1196, which is the 23.6% Fibo retracement of the up leg from 1.1026 to 1.1249 and the 1.1180 level from June 18. After failed attempts to move above the downtrend line, the pair has traded between the 100- and 200-period simple moving averages (SMAs) for the past week. The bears have gained some strength and are pushing for lower, testing the 100-SMA. The MACD and the RSI’s picture suggest a restart in [..]


Daily Market Comment – Sterling feels the burn; Trump plays trade ‘hardball’

Posted on August 12, 2019 at 7:55 am GMT

Sterling resumes downtrend as UK economy shrinks, Brexit fears intensify Yen extends gains after Trump says he isn’t ready to make a deal Calendar practically empty today, in a thin liquidity environment Pound feels the burn as UK economy contracts The British pound remains the ‘sick man’ of the FX market, plummeting to a new three year low against the euro on Friday, after the latest GDP figures showed that the economy contracted in Q2 for the first time since [..]

Week ahead – Markets set to quiet down, despite tug of trade war

Posted on August 9, 2019 at 12:00 pm GMT

It may be a quiet week in financial markets, with no central bank meetings or any other major events on the agenda, as the summer lull finally kicks in. Economic data will therefore attract most of the attention, though any tweets on the trade war or Brexit news could always stir things up. British data unlikely to be a game-changer for the pummeled pound The UK economy continues to feel the heat, with GDP growth contracting in Q2, as Brexit [..]

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