Daily Market Comment – Signs of virus slowdown breathe life into markets

Posted on April 6, 2020 at 8:32 am GMT

Stocks roar higher, yen stumbles as new infections plateau in Europe   Is this recovery sustainable though, or just another bear market rebound? Oil remains in focus as OPEC+ postpones meeting – will they cut enough? Risk appetite returns on hopes ‘peak virus’ is behind us Global markets woke up in a better mood on Monday, with stocks in Tokyo gaining roughly 4% and futures pointing to a similar open in New York, as a slowdown in new infections in [..]


Technical Analysis – NZDUSD’s negative momentum gains new confidence

Posted on April 3, 2020 at 11:57 am GMT

NZDUSD is presently tackling the 0.5841 level, that being the 38.2% Fibonacci retracement of the down leg from 0.6447 to an 11-year low of 0.5468, after new-found negative sentiment sent the pair back into the Ichimoku cloud. Aiding this move down is the recent bearish crossover of the now declining Ichimoku lines. The short-term oscillators are providing extra backing towards a negative picture. The MACD has slipped below its zero and trigger lines, while the RSI is falling in the [..]

Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:19 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]

Daily Market Comment – Dollar edges up, stocks muted in cautious start to week

Posted on March 30, 2020 at 8:32 am GMT

Stocks steady somewhat after Friday’s dip Dollar heads higher after worst week since 2009 Oil skids again; Brent hits 17-year low as world economy shuts down US stock futures attempt to rebound; risk of increased volatility Wall Street was unable to extend its winning streak to a fourth day on Friday but still managed to post its strongest week since 2009. Stocks had been steadily rising after a big gap lower at the open but went into reverse after the [..]

Week Ahead – China and US PMIs eyed for virus impact; NFP report poses threat to relief rally

Posted on March 27, 2020 at 1:33 pm GMT

The global crisis from the coronavirus pandemic has produced much turmoil in financial markets even though economic data on the impact has so far been scarce. That is about to change as March figures start rolling in. Given the extent of the market fallout, investors may already be expecting the worst. That’s not to say, however, that once the data lay bare the true scale of the economic damage, investors won’t be unnerved. The main releases next week that could [..]

Daily Market Comment – Stocks rally despite recessionary US data, is the bottom in?

Posted on March 27, 2020 at 8:49 am GMT

US jobless claims signal the economy is in recession, but stocks gain ~6% Is this the beginning of a new uptrend, or just a bear market rally? In FX, dollar continues to sink as liquidity pressures ease, but yen stays in demand Markets shrug off horrible US jobless numbers A record-shattering 3.3 million Americans filed for unemployment benefits last week, more than quadrupling the previous record and providing the clearest indication to date that the US is headed for a [..]


Technical Analysis – NZDUSD struggles within Ichimoku cloud; bullish in short term

Posted on March 26, 2020 at 10:25 am GMT

NZDUSD continues to consolidate within the Ichimoku cloud over the last couple of sessions, following the pullback from the eleven-year low of 0.5468. The pair remains above the bullish crossover within the 20- and 40-period simple moving averages (SMAs) in the 4-hour chart, confirming the recent upside tendency. Technically, the RSI is pointing up in the positive region with weak momentum, while the MACD is moving sideways above the zero line. In the positive scenario, where the price continues to [..]

Daily Market Comment – US jobless data: A trial by fire for markets

Posted on March 26, 2020 at 8:59 am GMT

US jobless claims today will reveal how much economic damage the virus has already inflicted Make or break moment for stocks – a worse than feared number could quash the recent recovery Yen leads, aussie lags as risk aversion slowly creeps back into markets US jobless data could derail the latest recovery Economic data finally comes back into the spotlight today, as the number of Americans filing for unemployment benefits last week will give us a taste of just how [..]


Daily Market Comment – Stocks roar back as Congress reaches deal on rescue package

Posted on March 25, 2020 at 9:50 am GMT

Global stocks rebound sharply as Democrats and Republicans agree on $2 trillion stimulus package   But has the market truly bottomed, or is this another dead cat bounce? In FX, risk-taking is back; commodity currencies recover as dollar and yen retreat Is gold turning the corner? Epic turnaround for stocks Global markets staged a heroic recovery on Tuesday. The Dow Jones climbed almost 11.4% to record its strongest day since 1933 as investors took heart that the US Congress would [..]

Daily Market Comment – Fed drops hydrogen bomb on markets, wounds dollar

Posted on March 24, 2020 at 9:53 am GMT

Dollar inches down as Fed goes all out, announces unlimited QE and expands purchase universe Wall Street closes lower, unimpressed by Fed – but set to recover today as Congress moves closer to a deal In broader FX market, the retreating dollar lifts all other boats Fed drops equivalent of hydrogen bomb on markets The Federal Reserve went ‘all in’ yesterday, promising to buy unlimited amounts of Treasury bonds and mortgage backed securities (MBS) to stabilize financial markets and negate [..]

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