US Open Note – Dollar steadies; pound skyrockets after elections

Posted on May 10, 2021 at 12:29 pm GMT

US steadier after slump from soft NFP report Today is a quiet day, with the US dollar moving slightly higher after the poor US jobs reports on Friday, which indicated that the Fed will have to keep accommodative policy for longer. The greenback is likely to remain soft until there is a notable turnaround in US yields. The US dollar index is hovering slightly above the 90.10 barrier, having on Friday created the sharpest decline in five months. Euro/dollar is looking neutral after it reached a new ten-week high of 1.2176 and gold is developing around three-month [..]


US Open Note – Stocks soar; dollar continues to slip as US yields fall

Posted on April 14, 2021 at 12:30 pm GMT

US dollar back to losses A downside move in the US dollar and the significant climb in US stock futures are the major themes of the day. The question is if this recovery is being driven by the fall in US yields after the milder-than-feared US CPI data. The US dollar index is approaching the 91.60 level, while dollar/yen is in the process of completing the third straight negative day around 109.00. Futures tracking the S&P 500, Nasdaq 100 and Dow Jones were pointing to a slight [..]


US Open Note – Dollar steady, US futures struggle and euro slips

Posted on March 19, 2021 at 1:29 pm GMT

Dollar in horizontal mode; euro below 1.19 A quiet day is on the cards, as reflected in forex and stock markets, with the US dollar moving slightly lower versus the Japanese yen below 109.00, while the dollar index is hovering above the 50- and 100-day simple moving averages (SMAs). Euro/dollar has slipped below the 1.1900 handle and is trying to break to the downside the nine-month ascending channel. Pound/dollar is moving with weak momentum while euro/pound is climbing above the [..]

Daily Market Comment – Stocks edge up, dollar eases as bond markets stabilize

Posted on March 1, 2021 at 9:42 am GMT

Yields fall back as selloff in government bonds cools, but is the panic over? Stocks get off to firm start as vaccine and stimulus hopes still at play Risky currencies pare losses as dollar recedes from highs, gold bounces off lows Calm returns to bond markets, but maybe not for long Long-dated Treasury yields started the new month well off their one-year highs from last week as a bit of calm was restored in battered bond markets. The 10-year yield [..]

Daily Market Comment – Yen crumbles as vaccine optimism intensifies, stocks extend gains

Posted on February 16, 2021 at 10:00 am GMT

Safe-haven yen sold across the board as vaccine rollouts fuel hopes of a swift recovery Stocks continue to soar even as global yields creep higher, but dollar fights back Pound scales fresh highs as aggressive vaccination campaign shines light on UK assets Vaccines keep optimism running high The expansion in the global rollout of Covid-19 vaccines drove risk appetite to new heights on Tuesday as investors became more confident that inoculating against the deadly virus will lead the global economy [..]


Technical Analysis – UK 100 index retreats below 50-day SMA; upside risks remain

Posted on February 3, 2021 at 2:14 pm GMT

The UK 100 index (Cash) retraced significantly from its 10½-month high of 6,955, plunging underneath the 50-day simple moving average (SMA), only to rebound near the previous trough of 6,312. The positive picture in the index, currently curbed by the 50-day SMA at 6,578, is holding onto hopes of returning higher. Also strengthening this view are the SMAs, which are maintaining a bullish demeanour. The short-term oscillators reflect the recent bounce and continue to favour the upside. The RSI, slightly below [..]


Technical Analysis – UK 100 index prints fresh 10-month high after skinny Brexit trade deal

Posted on December 29, 2020 at 1:32 pm GMT

The UK 100 stock index (cash) opened with a positive gap on Tuesday, advancing above the 61.8% Fibonacci level of the 7,688 – 4,777 downfall and to an almost 10-month high of 6,677. Despite the bullish appetite, however, the price seems to be struggling to hold above the 6,635 barrier, which can also be linked to the closing prices registered early in March. The ascent in the RSI and the Stochastics is currently favoring the bulls, though a confirmation above 6,635 is likely [..]


Daily Market Comment – Trading starts to wind down, stocks at record highs, dollar dips

Posted on December 29, 2020 at 9:50 am GMT

Markets go quiet in thin holiday trading after US stimulus and Brexit hurdles cleared Pressure on the US Senate after House votes to increase stimulus checks Wall Street sets another record, Nikkei soars, London stocks play catch up Dollar on the backfoot again after rebound falters, pound pares losses Markets in holiday calm but stimulus drama may not be over Trading dwindled ahead of the New Year holiday amid thin liquidity as there was little reason for investors to stay [..]


Technical Analysis – UK 100 index eases slightly but upside risks remain

Posted on December 9, 2020 at 4:16 pm GMT

The UK 100 index (Cash) seems to be fading from its newly formed nine-month high of 6,623 as positive momentum is losing steam. Nevertheless, the simple moving averages (SMAs) are maintaining their bullish tone, preserving the positive structure. That said, the short-term oscillators are suggesting a strengthening of the negative price action. The MACD, in the positive zone, is sliding underneath its red trigger line, while the RSI is falling in bullish territory. Moreover, the stochastic oscillator has adopted a [..]

Daily Market Comment – Dollar slips again on Fed speculation; stocks pause for breath

Posted on November 30, 2020 at 9:58 am GMT

Dollar extends slide as investors look to Powell testimony and NFP report for Fed clues Stocks stumble at start of week, but vaccine progress keeps risk appetite alive Pound still holding out for Brexit breakthrough as time running out Oil slips as OPEC+ unlikely to agree on long extension to output cuts Dollar remains pinned down in crucial week There was no end in sight to the US dollar’s losing streak at the start of the new trading week as [..]

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