Week Ahead – The calm after the US election storm

Posted on November 6, 2020 at 12:31 pm GMT

It’s a relatively quiet week coming up for global markets as the election dust settles. The main event will be the RBNZ policy meeting, though frankly, the real driver for most currencies and stocks may be the ‘aftershock’ effects of the election. There’s also a slew of economic data, the Brexit adventure continues, and the earnings season winds down. There’s no keeping this market down No ‘blue wave’ in the US election? No problem. This was essentially the market response [..]


Technical Analysis – EURUSD surges above 1.1800; indicators look bullish

Posted on November 5, 2020 at 12:20 pm GMT

EURUSD is surging to a new one week-high around the 1.1800 handle after it surpassed the Ichimoku cloud and the 1.1770 barrier. The 20-and 40-period simple moving averages (SMAs) are ready to create a bullish crossover in the short-term timeframe, while technical indicators are heading north. The MACD is extending its move above its trigger and zero lines, and the RSI is approaching the overbought zone. In the positive scenario where the price continues to expand above today’s high of [..]

Daily Market Comment – Biden leads as Trump begins legal fight; dollar eases, stocks surge

Posted on November 5, 2020 at 9:56 am GMT

Biden edges closer to the White House but faces legal battles as Trump not giving up Markets undaunted by election stalemate, see good and bad in all outcomes Dollar near lows as Treasury yields extend slide, stocks shine in post-election rally Pound lifted by fresh BoE stimulus; less room for surprises by the Fed World holds breath in tightest election race ever Democratic nominee Joe Biden was one state away from victory early on Wednesday as counting continued across the [..]

Daily Market Comment – Dollar firms, stocks rattled as US election too close to call

Posted on November 4, 2020 at 9:13 am GMT

Anxious wait for election outcome as race much tighter than anticipated Dollar and yen creep higher as election uncertainty mounts Stocks steady until Trump threatens to block mail-in ballot counting Trump closes in on Biden; might be a long wait The race for the White House is proving tighter than many had anticipated and certainly more than what the opinion polls had indicated as incumbent President Trump wins in several battleground states. As of 09:00 GMT, Trump had secured the [..]

Fed meeting and NFP eyed as markets digest election – Forex News Preview

Posted on November 3, 2020 at 12:58 pm GMT

It is the mother of all weeks for the dollar and stock markets. In the aftermath of the US election, traders will have to digest a Fed meeting at 19:00 GMT Thursday and the latest US employment report at 13:30 GMT Friday. The election outcome will overshadow everything else, but we may still see some decent moves if the Fed telegraphs an increase in asset purchases come December. As for the jobs data, it is no longer a trend-setter for [..]

Daily Market Comment – Dollar slips, stocks rally as world awaits next US president

Posted on November 3, 2020 at 9:57 am GMT

Few signs of market jitters on Election Day despite uncertainty about outcome Strong manufacturing data help ease virus fears, stocks bounce back Dollar retreats from highs, aussie shrugs off rate cut to turn higher Biden still in the lead, Trump talks legal action Americans go to the polls today to vote for the next president of the United States following a chaotic election campaign amidst a global pandemic. Most final polls ahead of the election put Democratic candidate Joe Biden [..]

Daily Market Comment – Upbeat China PMI lifts mood but dollar holds firm

Posted on November 2, 2020 at 9:41 am GMT

Stocks edge up as Chinese manufacturing rebound gathers pace in October But dollar maintains gains as US election and Fed meeting lurk around the corner Pound slips as England back in lockdown, aussie down ahead of RBA Calm before the storm? Equities got off to a somewhat positive start on Monday as stronger-than-expected manufacturing PMI data out of China provided investors with some respite from the doom and gloom of the pandemic. A quickening in Chinese manufacturing activity in October [..]

Technical analysis – EURUSD battles with the bearish trend; major support at 1.1611

Posted on November 2, 2020 at 9:00 am GMT

EURUSD found new sellers below its simple moving averages (SMAs), stretching the pullback from the bottom of the ascending channel slightly below the Ichimoku cloud and towards September’s trough of 1.1611. The downward-sloping RSI combined with a bearish MACD, which has snapped below its signal and zero lines, is indicative of a strengthening bearish bias. Meanwhile, the red Tenkan-sen line is also set for a bearish crossover with the blue Kijun-sen, adding to the discouraging signals. Still, the wall around [..]

Week Ahead – US election, three central banks, and nonfarm payrolls

Posted on October 30, 2020 at 12:38 pm GMT

It is probably the busiest week ever for markets. The US presidential election will eclipse everything else, but there are several other crucial events like a Fed meeting and nonfarm payrolls to follow the main dish. The Bank of England and the Reserve Bank of Australia will decide as well and both are ‘live’ meetings, where more easing is expected. Overall, the tone in the FX and stock markets will depend mostly on the election outcome, and whether we have [..]

Daily Market Comment – Equities back in the meat grinder after big tech earnings

Posted on October 30, 2020 at 8:40 am GMT

Stocks continue to melt down as big tech results underwhelm Some de-risking ahead of the election may be contributing too Dollar not really participating in risk-off Friday, but the yen is Eurozone inflation data today could shape ECB easing expectations ‘Dead cat’ bounce fades as big tech underwhelms Global markets breathed a sigh of relief on Thursday as risk appetite returned to some degree, but it was not meant to last, with the meltdown in equities resuming today on the [..]

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