Daily Market Comment – Stocks tank, yen shines amid lockdown blues; ECB coming up

Posted on October 29, 2020 at 9:33 am GMT

Panic selling in equities as France and Germany announce new virus-fighting measures Yen and dollar surge amid the turmoil, commodity FX and gold hammered Markets have stabilized on Thursday, but the calm seems fragile Today: ECB policy decision and US third-quarter GDP Equities fall apart, haven currencies shine Global markets buckled under the weight of the new shutdowns in Europe yesterday, with the newfound uncertainty around the US election making matters worse. The straw that finally broke the camel’s back [..]


US GDP growth and Core PCE index: Last data pieces before the election – Forex News Preview

Posted on October 28, 2020 at 5:20 pm GMT

The US is reporting its annualized GDP growth figure for the third quarter on Thursday at 12:45 GMT and the Fed’s favorite inflation measure, the core PCE inflation index, on Friday at 12:30 GMT. The data will be the last key releases before the presidential election next week, but its impact is expected to be muted and overshadowed by political news and Covid headlines despite encouraging forecasts.  Q3 the fastest growing quarter ever, but keep your feets on the ground [..]


Technical analysis – EURUSD slumps to meet trendline as downside risks heighten

Posted on October 28, 2020 at 9:35 am GMT

EURUSD is fast approaching the ascending trendline that has been navigating the market since the bounce off the 1.1611 ground as the Ichimoku cloud on the four-hour chart blocked the way to the upside and the 200-period simple moving average (SMA) failed to catch the fall. With the price trading below its SMAs, the RSI decelerating towards its 30 oversold level, and the MACD strengthening its negative momentum below its signal and zero lines, the short-term bias is seen skewed more [..]


Daily Market Comment – Euro under fire as new lockdowns loom

Posted on October 28, 2020 at 9:23 am GMT

Euro on the chopping block ahead of potential French lockdown Markets in a sour mood overall as Trump pulls ahead in Florida polls Stocks under heavy pressure, defensive yen shines Coming up: Central bank decisions in Canada and Japan Euro finally wakes up to the risks The single currency is taking heavy fire on Wednesday and European equity markets are a sea of red, as investors slash their exposure to euro-denominated assets ahead of a potential lockdown announcement in France. [..]

ECB preview: A milestone to another stimulus package – Forex News Preview

Posted on October 27, 2020 at 5:28 pm GMT

The Eurozone’s calendar will get relatively busy at the end of this week, with the European Central Bank  (ECB) gathering to set policy at a crucial time for the bloc on Thursday at 11:45 GMT, while on Friday, the agenda will be packed with Q3 GDP growth, October’s inflation, and September’s employment figures, all released at 09:00 GMT. Given the exponential increase in Covid cases and the new restrictive measures applied, which make a double dip in Q4 a more [..]

Daily Market Comment – Equities sink as second wave fears bite, but currencies stay calm

Posted on October 27, 2020 at 9:30 am GMT

Spiraling infections and tightening US election inject caution into markets Stocks tank alongside crude oil, but trim losses after stimulus comments FX market was in a sour mood too, but moves were much smaller Question is, how is the euro standing so well even as growth risks escalate? Risk aversion deepens, but does not overwhelm   One week to go until the US election and markets are starting to wake up to the storm of risks that is threatening to [..]

Daily Market Comment – Investors play defense as global cases surge, US election tightens

Posted on October 26, 2020 at 9:15 am GMT

Markets on red alert as US infections hit grim records, Europe adopts new measures Meanwhile, election polls have tightened – ‘Blue wave’ no longer as certain Global stocks retreat, oil hammered, dollar inches higher Big week ahead: three central bank meetings, key GDP data, tech earnings Global cases soar, investors cut risk exposure Market participants are playing some defense on Monday, slashing their exposure to riskier assets like stocks and rotating into the safety of sovereign bonds, amid a blitz [..]

Technical Analysis – EURUSD creeps sideways under weak momentum

Posted on October 26, 2020 at 8:37 am GMT

EURUSD is stalling around the upper band of the Ichimoku cloud and seems to be adopting a neutral tone, something also reflected in the horizontal 50-day simple moving average (SMAs) and the flattening Ichimoku lines. Nonetheless, a dictating bullish bias in the SMAs remains fairly intact despite easing in the 50-day SMA. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD is rising in the positive region above its red trigger line, while the RSI’s gains are [..]

Week Ahead – ECB, BoC, and BoJ serve as appetizers for US election

Posted on October 23, 2020 at 10:08 am GMT

With less than two weeks to go until the US election, markets are on red alert as opinion polls in key battleground states have tightened. In the meantime, there are three central bank meetings and a ton of data to keep things exciting. The ECB could steal the show by opening the door for more stimulus, to negate the risk of a double-dip recession as the virus rampages through Europe. The central banks of Canada and Japan will meet too, [..]

Daily Market Comment – Markets drift sideways as US stimulus deal awaited

Posted on October 23, 2020 at 9:21 am GMT

US stimulus deal edges closer as talks continue, investors hold tight No clear winner from final presidential debate; uncertainty adds some support to dollar Euro bounces from lows as strong manufacturing shores up flagging Eurozone recovery No deal yet but high hopes for more stimulus Markets remain fixated on the stimulus talks in Washington as the week draws to a close, with the window for a deal to be struck before the November 3 election closing fast. Positive signals about [..]

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