Daily Market Comment – Dollar hits 110 yen after US removes China as currency manipulator

Posted on January 14, 2020 at 9:17 am GMT

US removes currency manipulator label from China ahead of signing of trade deal Yuan surges, yen slides as risk-on theme continues Wall Street hits another record as earnings season gets into full gear US-China tensions thaw further ahead of trade deal signing Relations between the United States and China got a boost on Monday after the US Treasury Department decided to no longer designate China as a currency manipulator. The announcement, which comes just two days before the two countries [..]


Technical Analysis – JPMorgan stock hovers below record high; bullish in medium-term

Posted on January 13, 2020 at 10:41 am GMT

JPMorgan stock price is slightly lower since the pullback on the record high of 141.00 on January 2. In the very short-term, the market could maintain the downside correction if the RSI keeps sloping down and the MACD continues to lose momentum below its trigger line. Currently, the stock price is hovering within the red Tenkan-sen and the blue Kijun-sen lines. An extension to the downside and below the blue Kijun-sen line could meet the area between the 50-day simple [..]

Week Ahead – US and China set to seal Phase One deal ahead of Chinese Q4 GDP release

Posted on January 10, 2020 at 11:13 am GMT

The United States and China will finally put pen to paper on the hard-fought ‘phase one’ deal on January 15, ending months of trade uncertainty and hostilities. However, it will be too early for the ebb in trade tensions to have benefited China’s export-heavy economy in the fourth quarter and GDP numbers due out of the country will likely leave markets underwhelmed. It will be an important data week in the UK and US as well, with monthly industrial output, [..]


Technical Analysis – JPMorgan stock gathers some positive vibes below record highs

Posted on October 15, 2019 at 11:21 am GMT

JPMorgan Chase & Co saw its stock unlocking new record highs at 120.33 in mid-September before pulling back. The 200-day exponential moving average (EMA) strictly halted the downside correction thereafter as it did at some point in the past, allowing the bulls to regain some ground. The short-term risk looks to be tilted slightly to the upside as the RSI has softly increased above its 50 neutral mark and the MACD turned positive on Monday. Additionally, the triple exponential average [..]


US banks poised for a weaker earnings season – Stock Market News

Posted on October 14, 2019 at 4:06 pm GMT

It will be a “Bank week” for the US as the four largest banks by market capitalization will kick off the earnings season by reporting their financial statements for the third quarter. JPMorgan Chase, Citigroup and Wells Fargo will be announcing on Tuesday, while Bank of America will release its own numbers on Thursday. Under a lower interest rate environment, traders will be looking for any signs of weakness in net interest rate margins. Yet, the banking results may not appear as ugly [..]

European Open Preview – Dollar and yen pressured as China optimism lifts markets

Posted on April 15, 2019 at 8:22 am GMT

Safe-haven favourites, the dollar and the yen, trade near Friday’s lows as positive data out of China triggers a risk rally Encouraging comments from Mnuchin on US-China trade talks also helps risk sentiment Focus this week to centre on US earnings and China GDP ahead of long Easter weekend Jump in Chinese lending eases growth jitters Fears of a global slowdown, which were amplified early last week after the IMF lowered its global growth forecasts, subsided substantially on better-than-expected economic [..]


Q1 earnings season to get underway with Wells Fargo, JP Morgan, Citigroup and Goldman Sachs – Stock Market News

Posted on April 11, 2019 at 3:38 pm GMT

The US earnings season for the first quarter will enter into full gear on Friday with the big banks leading the way. JP Morgan Chase & Co (JP Morgan) and Wells Fargo & Co (Well Fargo) will be the first of the major US banks to report on Friday before the market open, while Citigroup Inc (Citigroup) and Goldman Sachs Group Inc (Goldman Sachs) will report their results on Monday, also before the market open. After an exceptionally strong 2018, [..]


Technical Analysis – JPMorgan stock looks neutral but still above 50-day SMA

Posted on April 10, 2019 at 1:07 pm GMT

JPMorgan stock price has been moving between the 50- and 200-day simple moving averages (SMAs) over the last ten trading days and around the 50.0% Fibonacci retracement level of the downleg from 119.18 to 91.07, near 105.13. From the technical point of view, the stochastic oscillator is heading down after it found resistance in the overbought zone, while the RSI indicator is losing momentum in the positive territory. However, despite the indicators, the red Tenkan-sen line is moving up, suggesting [..]


Technical Analysis – JPMorgan stock advances in near term; indicators signal bearish actions

Posted on January 15, 2019 at 9:07 am GMT

The JPMorgan stock price is continuing last month’s rebound on the 16-month low of 91.07, touching the 101.45 resistance level. However, looking at the technical indicators, they suggest bearish actions as the price opened with a gap down in the previous sessions. The stochastic oscillator is moving lower below the overbought level, while the ROC is pointing down above the zero line. The 38.2% Fibonacci retracement level of the downleg from 119.18 to 91.07, around 101.81 could be a trigger [..]


European Open Preview – Equity selloff continues, but shows signs of abating

Posted on October 12, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is practically flat on Friday, licking its wounds following considerable losses in the previous session, which were largely owed to a pullback in US Treasury yields. The euro capitalized on this weakness, gaining ground almost across the board even as the Italian budget drama continues to lurk in the background. The yen, meanwhile, was weaker than one would have expected considering the recent market turmoil. STOCKS: Wall Street indices extended [..]

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