Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]


European Open Preview – Trade hopes lift markets; pound cruises higher

Posted on January 18, 2019 at 8:40 am GMT

Stocks advance, safe-havens tumble on reports US could roll back China tariffs In the UK, sterling surges without Brexit news; sentiment is improving Today, Canadian inflation figures and Fed speakers may steal the show Stocks jump, yen softens on reports US may lift China tariffs Risk appetite firmed during the late US session on Thursday, following a WSJ report that US Treasury Secretary Mnuchin considered whether to lift the tariffs on Chinese products as a gesture of good faith during [..]


Technical Analysis – NZDUSD selling interest in progress; hits one-week low

Posted on January 17, 2019 at 9:15 am GMT

NZDUSD is continuing this week’s sell off with strong momentum, reaching a one-week low around 0.6730 and at the same time confirming the start of a bearish movement. The short-term bias looks negative as the MACD keeps losing ground below its red trigger line, while the RSI seems to be making its way down beneath its 50 neutral mark, moving towards the oversold territory. The 0.6705 could be a critical level for steeper bearish actions if the pair continues the negative tendency. Also, the 0.6670 could attract some [..]


European Open Preview – Pound yawns as May survives; risk appetite shaky

Posted on January 17, 2019 at 8:45 am GMT

Theresa May survives the no-confidence vote, but sterling barely advances News the US will pursue a criminal case against Huawei are hurting sentiment Dollar extends gains versus euro as ECB officials sing a dovish tune May survives no-confidence vote, but sterling yawns Theresa May’s government survived the no-confidence motion in the House of Commons yesterday via a 325-306 vote, as was broadly expected. The Prime Minister immediately stated she will reach across the aisle and attempt to find common ground [..]


European Open Preview – May suffers Brexit defeat, can she survive no-confidence vote?

Posted on January 16, 2019 at 8:46 am GMT

Sterling recovers despite May’s Brexit defeat; no-confidence vote due today Euro inches down as ECB’s Draghi adopts an increasingly cautious bias Risk appetite stays firm; NAHB housing index today may be crucial Pound rebounds even as May suffers major defeat; no-confidence vote called British lawmakers overwhelmingly voted against PM May’s Brexit deal yesterday, with 432 rejecting the accord and 202 voting in favor, a much wider margin of defeat than rumored. The loss was so devastating that it led the [..]


European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:50 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]


European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:48 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]


European Open Preview – US inflation data in the spotlight

Posted on January 11, 2019 at 8:52 am GMT

Dollar briefly inches up after Powell; US CPI data today will be crucial Swiss franc drops, with SNB likely behind the move US-China trade optimism boosts aussie and kiwi Brexit uncertainty lingers ahead of next week’s Parliamentary vote Powell helps dollar to rebound briefly, but mind the upcoming inflation data Fed Chair Powell mostly “stuck to the script” yesterday, reiterating the recent shift in the Fed’s reaction function. He said his central bank can afford to be patient with further [..]


Technical Analysis – NZDUSD turns higher in short-term; remains below 61.8% Fibonacci

Posted on January 10, 2019 at 9:09 am GMT

NZDUSD has recovered substantially after the selling interest from the 0.6968 barrier, almost hitting the 61.8% Fibonacci retracement level from 0.6968 to 0.6560, around 0.6812. Currently, the price is trading well above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. However, the technical indicators are suggesting flat to bearish movement as the RSI is sloping down in the positive zone and the MACD is moving sideways above the trigger line. A move to the upside could see immediate resistance at the 61.8% Fibonacci level of 0.6812. Should the [..]


European Open Preview – Dollar capitulates as Fed signals “patient” approach

Posted on January 10, 2019 at 8:50 am GMT

Dollar falls sharply after Fed signals it will be “patient”; a slew of key speakers will be in focus today Euro advances, and attention now turns to the ECB minutes at 1230 GMT BoC stands pat, keeping further gradual hikes on the table China stokes trade optimism, but US stock futures flashing red Dollar capitulates on Fed speak, extends losses after FOMC minutes The main mover in FX markets yesterday was the US dollar, which fell significantly and across the [..]

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