Technical Analysis – Gold slips below 50-SMA; risk leans towards negative

Posted on August 19, 2019 at 8:57 am GMT

Gold has only been focused on making new peaks as it logged a new 6-year and four-month high of 1534.91. The metal corrected to the downside after the high on August 13 but the 50-period simple moving average (SMA) in the four-hour chart managed to limit the negative movement. The MACD and the RSI are indicating that the positive directional momentum is decreasing as the MACD is underneath its red trigger line, nearing zero, whereas the RSI has moved slightly [..]

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 [..]


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 – 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 – 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 [..]


Technical Analysis – Gold bulls locked below 1,500; could lose momentum in short-term

Posted on August 12, 2019 at 7:22 am GMT

Gold bulls got trapped around the 6-year high of 1,500 and the 61.8% Fibonacci of the long downleg from 1,796 to 1,046 after gaining more than 3.5% last week. Technically, the market could soften in the short-term as the RSI and the Stochastics seem to be slowing down in the overbought territory. The flattening Tenkan-sen and the stable Kijun-sen are also an indication that the market could trade more cautiously in the short-term. Yet the higher highs and the higher [..]

Daily Market Comment – Yen firms again as trade jitters return; euro and pound steady despite election talk

Posted on August 9, 2019 at 8:11 am GMT

Risk aversion spikes again on reports US won’t ease Huawei restrictions Safe havens remain supported, stocks falter Euro and pound unmoved by speculation of snap elections in Italy and the UK Bounce in risk appetite proves short lived as trade worries return Market sentiment turned sour again on Friday as trade tensions resurfaced after Bloomberg reported that the United States is delaying a decision on whether to allow some American companies to do business with China’s Huawei Technologies. President Trump [..]

As the trade war fires up, what’s next for markets? – Special Report

Posted on August 8, 2019 at 12:36 pm GMT

The trade war between Washington and Beijing has flared up, and looks likely to intensify even further, as Trump may use the conflict to score political points ahead of the 2020 US election. In the markets, while stocks may feel some pain, stimulus by the major central banks will likely offset part of those losses. Instead, a far better proxy for any future escalation may be the Japanese yen, which could appreciate further both through the risk sentiment channel and [..]

Daily Market Comment – China exports rise helps markets stabilize; yen holds near highs

Posted on August 8, 2019 at 8:23 am GMT

Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]

Daily Market Comment – Kiwi plunges on shock RBNZ cut; stocks sell-off eases on Kudlow remarks

Posted on August 7, 2019 at 8:18 am GMT

New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]

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