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 [..]

Daily Market Comment – Stocks slammed as Congress plays politics

Posted on March 23, 2020 at 9:55 am GMT

Global markets tank again amid a cascade of worrying virus developments US fiscal package stuck in the Senate, igniting fears of a severe delay Yen leads FX market, kiwi sags as RBNZ launches QE, dollar resilient Wall Street futures in the red as Congress dithers and delays Financial markets remain in a state of panic, with world stocks tanking on Monday to extend heavy losses from Friday, as a worsening pandemic and mounting national lockdowns leave traders no choice but [..]

Daily Market Comment – Markets calmer after deluge of stimulus; dollar retreats

Posted on March 20, 2020 at 10:00 am GMT

Stocks edge higher after a savage week as emergency responses stepped up Dollar pulls back but dash for cash likely not over just yet Pound and aussie bounce higher after BoE and RBA announce QE Stocks stage a comeback; will it last? Global stocks enjoyed a much-needed reprieve from the fierce selling pressure of the past two weeks on Friday as the flurry of central bank and government interventions finally appeared to have some effect in relieving investor anxiety. All [..]

Daily Market Comment – Dollar surges amid race for cash; stocks tank again

Posted on March 19, 2020 at 9:46 am GMT

Virus panic drives investors to cash, pushing dollar to 3-year high No end in sight to stock market rout despite plethora of stimulus ECB and RBA hold emergency meetings Yen and gold struggle; bonds suffer rare sell-off Pound crashes to 1985 low; aussie, kiwi and loonie also sink Cash is king The market turmoil over the growing coronavirus pandemic continues to deepen with investors ramping up their stockpiling of cash, with the panic sell-off leaving no casualties, not even traditional [..]


Technical Analysis – US 30 stock index retests 3-year lows; death cross awaited

Posted on March 18, 2020 at 1:44 pm GMT

The US 30 index stretched its one-month rally to a three-year low of 19,899 on Tuesday before pulling slightly higher. The MACD seems to be losing momentum below its red trigger line, while the RSI is still hovering around its 30 oversold mark. Moreover, the red Tenkan-sen line is sloping down below the blue Kijun-sen line, thus all signaling a more cautious trading in the short term. Additionally, the 50- and the 200-day simple moving averages (SMAs) are in the process of completing a ‘death cross’. The market trend is likely to hold to the downside [..]

Daily Market Comment – Stocks steadier after crashing again; dollar also firmer

Posted on March 17, 2020 at 9:17 am GMT

Wall Street suffers biggest drop since 1987 crash as investors flee stocks Growing virus response still not enough to quell market turmoil Gold remains on a down path as panicky investors turn to cash Pound underperforms along with commodity and EM currencies Bloodbath on Wall Street There was no escaping the market carnage on Monday as extraordinary moves by the Federal Reserve and other central banks to restore investor confidence failed spectacularly. Shares on Wall Street plunged by the most [..]


Technical Analysis – US 30 stock index rebounds from 3-year low; looks oversold after recent sell-off

Posted on March 13, 2020 at 10:55 am GMT

The US 30 (Cash) index has been in a free fall over the last couple of days, recording a fresh three-year low of 20,398.83. The price is shifting the strong bullish tendency of the previous years to a sharp bearish structure in the short-term. However, according to the technical indicators the market is looking oversold. Technically, the MACD oscillator is stretching its negative momentum below the zero and trigger line, but the RSI is turning higher in the bearish territory, suggesting [..]

Daily Market Comment – King dollar reclaims throne, stocks disintegrate despite Fed bazooka

Posted on March 13, 2020 at 10:10 am GMT

Wall Street plunges 10% as market panic intensifies, powerful Fed intervention doesn’t help Dollar outperforms amid flight to safety, gold savaged by margin calls ECB doesn’t cut rates, euro pops higher but then crumbles as Lagarde says she’s not Draghi Pandemonium worsens despite Fed restarting QE Global markets are living a nightmare. The fear that enveloped stocks evolved into full-blown panic on Thursday, with the Dow Jones falling by a staggering 10% as investors continued to liquidate everything, frightened or [..]

Daily Market Comment – Stocks tank as Trump bans flights from Europe; ECB may disappoint

Posted on March 12, 2020 at 9:48 am GMT

ECB might not cut rates today – could introduce targeted lending measures and ramp up QE Stocks plunge, oil retreats after Trump bans all travel from Europe Yen back in vogue, but gold doesn’t get the memo Dollar holds firm despite risk aversion, reclaiming safe-haven status ECB may disappoint markets today, push euro briefly higher The European Central Bank (ECB) will have a tough balancing act on its hands when it announces its policy decision at 12:45 GMT today. On [..]

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