European Open Preview – Dollar, stocks retreat as data and trade talks disappoint

Posted on February 15, 2019 at 8:46 am GMT

Dollar and equities pull back after US retail sales plummet and trade talks seem likely to disappoint Pound underperforms as PM May loses another Brexit vote Euro/dollar stabilizes somewhat, supported by rate differentials UK retail sales and early US data for February coming up today Dollar drops alongside stocks as retail sales plunge, trade optimism fades The dollar retreated in tandem with US equity markets yesterday, both giving back some of their recent gains, following disappointing US data and signs [..]


Technical Analysis – Gold trades cautiously above 1300; bullish in medium term

Posted on February 14, 2019 at 9:36 am GMT

According to the RSI, gold touched overbought levels at a nine-month high of 1,326 at the end of January when the indicator topped above 70. Consequently, the price turned slightly southwards since then, with the 1,300 key level deterring steeper declines and therefore the violation of the three-month old ascending channel. The RSI, though, continues the downward move towards its 50 neutral mark and the MACD keeps losing strength below its red signal line, both painting a neutral-to-bearish profile for the short [..]


European Open Preview – Markets climb on trade euphoria; dollar rally revitalized

Posted on February 14, 2019 at 8:54 am GMT

Stock markets grind higher as trade hopes grow, but caution warranted Dollar bulls back in the driver’s seat as core inflation beats forecasts Aussie and kiwi outperforming on Chinese data; focus on trade talks Trade euphoria keeps markets afloat as talks commence, but mind the risks US stock markets continued their march higher yesterday, and futures suggest they are set to open in the green today as well, buoyed by optimism around trade after the US President indicated the talks [..]


European Open Preview – Kiwi roars back as RBNZ disappoints the bears

Posted on February 13, 2019 at 8:45 am GMT

Kiwi skyrockets after RBNZ refrains from signaling rate cuts, but downside risks linger Trump’s trade comments reinvigorate risk appetite UK and US inflation data highlight the agenda today RBNZ fails to live up to market’s dovish expectations, kiwi explodes up As expected, the Reserve Bank of New Zealand (RBNZ) kept its policy unchanged overnight, maintaining a relatively balanced tone overall. It acknowledged that downside risks have increased, particularly on a global level, but retained some optimism on the outlook. Most [..]


European Open Preview – Dollar rips higher; RBNZ meeting in focus

Posted on February 12, 2019 at 8:41 am GMT

Dollar soars as ‘there is no alternative’; Fed’s Powell speaks at 17:45 GMT News US government shutdown may be avoided support risk sentiment RBNZ meets overnight; may strike a cautious tone, but is unlikely to be as dovish as market pricing implies Dollar rips higher, but can the bulls stay in control? The greenback shined for yet another session, continuing its unrelenting rally for an eighth day in a row versus a basket of major currencies, without much in the [..]


Technical Analysis – Gold reverses down but remains above 1300

Posted on February 11, 2019 at 10:07 am GMT

Gold has come under renewed selling pressure over the last couple of 4-hour sessions, dropping below the 20- and 40-simple moving averages (SMAs) with strong momentum. Also, the price slipped below the Kijun sen and Tekan sen lines, supporting the bearish view, while the RSI indicator plunged into the negative zone. On the other hand, the MACD oscillator is flattening near the zero line. In case of further declines the price could challenge the 1302.50 support, taken from the low on February [..]


European Open Preview – Dollar extends winning streak; franc suffers mini “flash crash”

Posted on February 11, 2019 at 8:47 am GMT

Dollar ticks up, stocks mixed as risk sentiment remains fragile Swiss franc had a mini “flash crash” overnight, amid thin liquidity conditions UK GDP data due today, but focus remains on Thursday’s Brexit vote in Parliament Dollar climbs, stocks steady as sentiment remains wobbly The dollar advanced for a 7th straight session against a basket of currencies on Friday, albeit only modestly, as investors sought the security of the world’s reserve currency amid concerns around the health of the global [..]


European Open Preview – Stocks retreat on trade woes; BoE ‘holds the line’

Posted on February 8, 2019 at 8:43 am GMT

Risk aversion returns as Trump reignites trade fears, says he won’t meet Xi soon Sterling rebounds as BoE sticks to hiking plans, but Brexit uncertainty lingers Euro drifts lower after EU Commission slashes growth forecasts Canadian employment data coming up Stocks take a hit as Trump says he won’t meet Xi soon US equity markets closed well in the red yesterday, with the S&P 500 shedding 0.94%, following headlines that President Trump will not meet President Xi before the March [..]


European Open Preview – No hawkish bits from BoE today; kiwi capitulates

Posted on February 7, 2019 at 8:29 am GMT

BoE may adopt a cautious tone today amid slowing economy, Brexit uncertainty Kiwi dollar collapses after soft jobs data ignite speculation for RBNZ rate cut Greenback capitalizes on weakness in other currencies; stocks stall BoE to strike cautious tone as Brexit uncertainty reigns The spotlight will fall on the Bank of England (BoE) today, which is expected to keep its policy unchanged via a unanimous vote at 12:00 GMT. Updated economic forecasts and a press conference by Governor Carney will [..]


European Open Preview – RBA chief jawbones aussie lower; pound slides

Posted on February 6, 2019 at 8:38 am GMT

Aussie plummets as RBA Governor changes tune, puts rate cut on table Pound dives after weak services PMI reinforces speculation for dovish BoE US stock markets cruise to fresh two-month highs RBA Governor reacquaints aussie with gravity The Australian dollar is in freefall early on Wednesday, losing more than a cent against its US counterpart, following some cautious-sounding remarks from RBA Governor Philip Lowe earlier. He backpedaled on some of the Bank’s prior rhetoric that the next move in interest [..]

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