Daily Market Comment – Hong Kong tensions sink yuan but stocks yet to flinch

Posted on May 28, 2020 at 8:57 am GMT

Hong Kong’s special status with US under threat after Pompeo warning Yuan and Hong Kong shares under pressure but optimism prevails elsewhere Euro surges after European Commission proposes €750 billion rescue fund US and China heading for another clash Hong Kong looks set to lose the special status it enjoys with the United States on a range of areas, including trade, after US Secretary of State Mike Pompeo said the Trump administration no longer considers it to be autonomous from [..]

Daily Market Comment – Caution sets in after Trump signals Hong Kong action

Posted on May 27, 2020 at 8:40 am GMT

Dollar firms as Trump hints at end-of-week response against China over Hong Kong But stocks mixed as US-China tensions fail to dent recovery optimism EU divisions resurface, put a brake on euro’s advances US preps Hong Kong sanctions: only Asia takes note Asian stocks were under pressure on Wednesday as US President Donald Trump gave his clearest signal yet that his administration is planning a response to China’s tightening of its grip on Hong Kong. In a White House press [..]

Daily Market Comment – Recovery hopes pull stocks higher as US-China row put aside

Posted on May 26, 2020 at 8:38 am GMT

Growth optimism drives equities higher as outlook brightens on lockdown easing Dollar slips on risk-on mood, pound and aussie shine But gold supported by lingering US-China tensions Stocks buoyed by economic reopening Global equities extended yesterday’s strong gains with Asian indices adding between 1-3% on Tuesday and European and US futures surging by 2%. The recovery theme continues to support risk assets as more businesses around the world are given the green light to reopen, fuelling hopes of a sustainable [..]


Technical Analysis – US 500 index breaches MAs, attempts to resume climb

Posted on May 18, 2020 at 7:20 am GMT

US 500 stock index (Cash) in previous sessions found a foothold at the advancing 200-period simple moving average (SMA) currently at the 2,789 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time-high of 3,396.64 till the 39½-month low of 2,183.95. At present, the price has pierced above the mostly flat 50- and 100-period SMAs and the positive move seems to be backed by the short-term oscillators. The MACD in the negative zone is above its [..]

Daily Market Comment – Powell warns of lasting virus damage, empowers dollar but sinks stocks

Posted on May 14, 2020 at 8:49 am GMT

Fed Chair Powell delivers bleak assessment of US economy but rules out negative rates Dollar stands tall as Wall Street takes a dive, pulling global stocks with it Pound and kiwi slip to multi-week lows, aussie and loonie also on the backfoot Powell’s dire warnings kill hope of speedy recovery Fed Chairman Jerome Powell’s much anticipated speech took centre stage on Wednesday as the head of the world’s most powerful central bank delivered a detailed but grim view of the [..]


Technical Analysis – US 500 index’s advances under pressure

Posted on May 11, 2020 at 9:36 am GMT

US 500 stock index (Cash)  is struggling to overcome the 2,935 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 3,396.64 until the 2,183.95 low, after acquiring some footing on the Ichimoku cloud’s upper band at 2,791. The positive tone of the Ichimoku lines and the short-term oscillators further back an advancing view. The MACD, in the positive section, is holding just above its red trigger line, while the RSI is creeping higher [..]


Technical Analysis – US 500 index stalls after fading ahead of 2,986 border

Posted on May 4, 2020 at 12:15 pm GMT

The US 500 stock index (Cash) is inactive at the 2,789 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time high of 3,396.64 till the 2,183.95 low. The price appears stuck between the lower Bollinger band of 2,767 and the 100-period simple moving average (SMA) at 2,827. Turning to the short-term oscillators, the RSI and the stochastics promote advances as does the 200-period SMA, which is building an incline. Moreover, the 50- and 100-period SMAs [..]

Daily Market Comment – Stocks jump on virus drug hopes; Fed’s blank cheque pressures dollar

Posted on April 30, 2020 at 8:21 am GMT

Global stocks extend gains on potential treatment for coronavirus and dovish Fed But Trump’s China blame-game caps gains Powell signals more stimulus may be needed, puts dollar on backfoot ECB next on the agenda; will it pump more stimulus? Remdesivir boosts stocks again despite question marks Positive results from two clinical trials on the effectiveness of Gilead’s remdesivir drug once again raised hopes that the deadly coronavirus that has plunged the global economy into its worst crisis can be defeated. [..]

Daily Market Comment – Oil plunges again despite lockdown exits; gold down too

Posted on April 28, 2020 at 8:34 am GMT

Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]


Technical Analysis – US 500 stock index’s positive picture stalls; edges sideways

Posted on April 28, 2020 at 6:54 am GMT

US 500 index (Cash) is experiencing some limitations around the 2,893 resistance, where the upper Bollinger band presently resides. The smoothed appearance in price action over the last two weeks is also demonstrated in the flattening of the 200-period simple moving average (SMA), as the price holds between 2,893 and 2,708. The short-term oscillators also reflect the stall in price and suggest a weakened state of directional momentum. The MACD, in the positive zone, is flattening slightly above its red [..]

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