Daily Market Comment – Pound shrugs off emergency BoE rate cut

Posted on March 11, 2020 at 9:50 am GMT

Sterling recovers after BoE cut on hopes for a stimulative budget later today Market mood sours again as news flow stays negative and Trump’s stimulus plans underwhelm    Dollar stages a comeback as US Treasury yields rebound somewhat BoE mimics Fed, slashes rates between meetings The Bank of England (BoE) took a page out of the Fed’s book today, unexpectedly cutting rates by 50 basis points from 0.75% to 0.25% between scheduled meetings to negate the economic impact of the [..]

Daily Market Comment – Markets calm down after the cataclysm, but for how long?

Posted on March 10, 2020 at 9:59 am GMT

Risk sentiment recovers on Tuesday, after a catastrophic Monday However, the rebound is relatively modest – a sign that concerns remain and that this may be a temporary calm Dollar stages a comeback, US Democratic primary continues today Yen pulls back, stocks recover on ‘turnaround Tuesday’ After a wild session on Monday that saw riskier assets crash and burn, with the S&P 500 plummeting a stunning 7.6% and crude oil sinking by nearly 25%, markets have calmed down somewhat today, [..]

Daily Market Comment – Yen explodes higher, oil crashes as the OPEC+ wars begin

Posted on March 9, 2020 at 10:06 am GMT

Investors in panic mode as oil collapses, sending shockwaves through markets Global stocks plunge, commodity currencies flash crash, dollar in agony as markets price in more Fed cuts Japanese yen the main winner, gold briefly tops $1700, euro capitalizes Markets in mayhem as oil price war compounds virus fears It’s been a dramatic beginning to the week in financial markets, with risk aversion being the only game in town as the weekend saw the OPEC+ alliance come to an end, [..]

Daily Market Comment – Stocks bounce back but virus risks cap dollar gains

Posted on March 5, 2020 at 9:36 am GMT

US data, virus bill, Biden boost lift stocks but sentiment shaky as virus continues to spread Dollar rebound short-lived as more rate cuts expected BoC follows Fed and RBA in cutting rates; are ECB and BoE next? Oil steady as OPEC begins meeting to discuss output cuts Virus stimulus and US politics boost equities Stocks in the US surged overnight as government and central bank action in response to the coronavirus outbreak, as well as a change in fortunes in [..]

Daily Market Comment – RBA cuts rates, G7 response awaited as virus panic grows

Posted on March 3, 2020 at 9:34 am GMT

RBA cuts rates, others expected to follow as virus cases show no sign of slowing G7 statement eyed as markets pin hopes on stimulus to combat outbreak Stocks bounce back on stimulus talk but doubts on commitment caps gains Yen and gold edge up, dollar mixed ahead of Super Tuesday RBA first to cut, others to follow? The Reserve Bank of Australia became the first major central bank to cut interest rates on Tuesday in response to the worsening outbreak [..]

Daily Market Comment – Euro and yen smile as Wall Street bloodbath accelerates

Posted on February 28, 2020 at 9:41 am GMT

Global stocks fall apart amid growing fears of a virus-induced recession Yen and euro shine amid the mayhem, dollar and commodity currencies get hammered More de-risking possible today, Chinese PMIs and virus news over the weekend are a huge risk Pandemic fears throw global markets into havoc The worsening outlook for the world economy continues to torment financial markets. The major US stock indices fell by a staggering ~4.5% on Thursday, as investors increasingly price in the worst-case scenario where [..]


Technical Analysis – US 30 stock index dives below ascending channel

Posted on February 27, 2020 at 10:32 am GMT

The US 30 stock index faced strong selling this week that forced the price to abandon the 10-month old channel and drop to a four-month low of 26,483, where the 38.2% Fibonacci of the 21,596-29,582 upleg happens to be. A rebound or some stabilization near recent lows cannot be ruled out as the RSI and the Stochastics flag oversold conditions. Yet, with the price having breached the channel significantly to the downside and the 20-day simple moving average (SMA) set to cross [..]

Daily Market Comment – Dollar retreats, stocks in freefall as virus engulfs markets

Posted on February 27, 2020 at 9:41 am GMT

Virus concerns intensify, pushing dollar lower amid mounting expectations for Fed rate cuts Stocks crater, and risk aversion may linger ahead of Chinese PMIs Euro the big winner, capitalizing on dollar’s retreat and defensive inflows Global carnage deepens as virus spreads Worries about the coronavirus continue to plague markets, as every passing day makes it clearer that this crisis won’t blow over soon, and the disruptions initially on supply chains and then on demand could be the ‘black swan’ that [..]

Daily Market Comment – Stocks crumble alongside dollar as virus wreaks havoc

Posted on February 26, 2020 at 9:33 am GMT

US stock markets in meltdown as virus concerns deepen News flow might worsen from here, so risk aversion could linger King dollar dethroned by resurgent yen and a euro that looks more like a safe haven Aussie/dollar collapses to new 11-year low after soft data Safe havens shine, equities plunge as risk aversion reigns The reprieve in global markets didn’t last long, with virus worries returning with a vengeance yesterday to haunt riskier assets and boost defensive trades. US stocks [..]

Daily Market Comment – Dollar and gold shine but yen subdued as virus cases spike again

Posted on February 21, 2020 at 9:22 am GMT

Flight to safety boosts dollar and gold, yen nurses losses as new virus cases jump again Risk aversion finally reaches equity markets as global stocks stumble All eyes on flash PMIs as virus outbreak shows no sign of abating Dollar holds firm; gold hits fresh 7-year highs The risk-off mood deepened on Friday as China reported another spike in new confirmed cases of the coronavirus, most of which were in two prisons in Hubei province. But investors were also spooked [..]

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