European Open Preview – Earnings season fires up; aussie retreats

Posted on April 23, 2019 at 7:55 am GMT

Nasdaq 100 at record highs ahead of key earnings Aussie pulls back ahead of inflation data early on Wednesday Sterling retreats as PM May prepares to stave off another ‘Tory rebellion’ Nasdaq 100 cruises to record highs as earnings season fires up Markets remained quiet on Monday, with moves in both currencies and equities being muted overall and the spotlight remaining on oil prices instead. US stocks ended mostly in the green, with gains in the energy sector offsetting losses [..]


Technical Analysis – GBPUSD declines below 1.3000, posting 1-month low

Posted on April 23, 2019 at 6:37 am GMT

GBPUSD tumbled over the previous four consecutive days, plunging below the medium-term ascending trend line and creating a short-term descending line after the pullback on the nine-month high of 1.3380 in the daily timeframe. Also, the pair declined beneath the key level of the 38.2% Fibonacci retracement level of the upleg from 1.2390 to 1.3380, around 1.3000, recording a fresh one-month low of 1.2975. Regarding to the technical picture, the 20- and 40-simple moving averages (SMAs) posted a bearish crossover [..]

European Open Preview – Oil jumps as US ‘tightens the screws’ on Iran

Posted on April 22, 2019 at 7:53 am GMT

Oil soars as US prepares to impose full sanctions on Iran Currencies enter holiday lull Loonie eyes BoC policy meeting on Wednesday Oil jumps as US ‘tightens the screws’ on Iran Energy markets came back to the forefront on Monday, following reports that Washington is set to announce that all Iranian oil exports will soon face ‘full’ sanctions, ending the waivers it had granted previously to key customers of Iran, like China, Japan, and India. Oil prices surged to fresh [..]

Week Ahead – US next to report Q1 GDP; BoC and BoJ meet amid growth worries

Posted on April 19, 2019 at 9:31 am GMT

After China’s upbeat growth numbers this week, all eyes will be on the US economy’s performance during the first quarter. Aside from the US GDP, it’s going to be a rather quiet seven days for economic data due to the shortened Easter week but there will be two major central bank meetings to keep traders at their desks. The Bank of Canada and the Bank of Japan will announce their latest policy decisions in the coming days. Aussie looks to [..]

European Open Preview – Dollar powers ahead on strong US data; euro stumbles

Posted on April 19, 2019 at 8:07 am GMT

US dollar and Wall Street lifted by solid economic data and earnings But euro, pound, aussie and kiwi turn lower on Eurozone woes, resurgent dollar Thin liquidity expected today as many markets closed for Good Friday US recession fears ebb after retail sales bounce Dollar bulls made a comeback on Thursday after retail sales in the US unexpectedly surged in March and weekly jobless claims fell to their lowest in nearly half a century. The data once again highlighted the [..]

European Open Preview – Wall Street pulls back; euro hit by German PMIs

Posted on April 18, 2019 at 8:00 am GMT

US markets retreat as healthcare stocks ‘feel the Bern’ Moves in FX generally subdued, but euro takes a hit after German PMIs Retail sales data coming up in UK, US, and Canada today Wall Street inches down as healthcare stocks weigh ‘Sanders risk’ US equity markets retreated modestly on Wednesday, with losses in the healthcare sector eclipsing encouraging earnings elsewhere. The benchmark S&P 500 fell by 0.23%, weighed down by pharmaceutical giants UnitedHealth (-1.87%), Pfizer (-2.49%), and Merck (-4.72%), among [..]

European Open Preview – Aussie jumps on China GDP boost but limited gains for stocks

Posted on April 17, 2019 at 8:14 am GMT

Fears of a global slowdown ease substantially after China posts stronger-than-expected GDP data for the first quarter The data lifts risk-assets with the Australian dollar being the main beneficiary But broader gains are limited amid caution about the outlook China GDP beats expectations, industrial output surges Markets cheered upbeat economic figures out of China on Wednesday, continuing the series of positive numbers out of the country over the past couple of weeks. China’s economy expanded by 6.4% year-on-year in the [..]

European Open Preview – Major pairs steady as China GDP awaited; aussie slips on rate cut bets

Posted on April 16, 2019 at 8:15 am GMT

Dollar steady as markets await economic releases for more clues on outlook amid signs of green shoots China GDP will be the week’s highlight and key in building on the current risk-on tone Market mood to also be determined by US earnings season as banks’ results underwhelm Aussie worst performing currency after RBA sets condition for rate cut Dollar off lows ahead of important data The positive risk sentiment from Friday continued to ease slightly on Tuesday as investors preferred [..]

Technical Analysis – GBPUSD trends along a short-term descending line

Posted on April 16, 2019 at 7:27 am GMT

GBPUSD closed with few gains on Monday, remaining inside the Ichimoku cloud and below the descending line drawn from the 9-month high of 1.3380. Both the RSI and the MACD have been making efforts to exit the bearish territory, with the former reversing towards its 50 neutral mark and the latter easing negative momentum to climb above its red signal line. While those attempts provide some optimism, they are not enough yet to support strong positive prospects for the short-term trading. A strong [..]

Slew of UK data eyed as Brexit endgame remains elusive – Forex News Preview

Posted on April 15, 2019 at 12:37 pm GMT

It seems like it will be a quiet week on the Brexit front, so focus may turn back to UK economic data. Employment, inflation, and retail sales figures are due out on Tuesday, Wednesday, and Thursday respectively – all at 08:30 GMT. These may add some volatility to sterling, but the next ‘big move’ in the currency will likely be driven by updates in the Brexit rollercoaster, not economic data. In that sense, long-term upside risks for the pound seem [..]

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