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 [..]


Technical Analysis – US 500 Index attempts to correct from 39-month low

Posted on March 23, 2020 at 1:48 pm GMT

US 500 index (Cash) gapped today underneath the inside swing low of 2,273 reaching a multi-year low of 2,183.95 before buyers surfaced, steering the price back up towards the 2,350 area, where the flat Ichimoku lines are located. The short-term oscillators, although negative, reflect some strengthening in positive momentum. The MACD, in the negative zone, is below its red trigger line but looks to be moving back above it. The RSI, in the bearish region, is rising towards its neutral [..]

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 – 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 [..]

Daily Market Comment – Wall Street rebound falters again; rush for dollar eases slightly

Posted on March 18, 2020 at 9:39 am GMT

US shares rally on Fed liquidity boost but futures turn negative as virus uncertainty lingers Trump pushes for $1 trillion stimulus as governments step up virus response Dollar funding squeeze eases, giving other currencies a reprieve Stock markets unable to stop the bleeding Stocks were on the slide again on Wednesday as yesterday’s sharp rebound on Wall Street proved unsustainable amid fears all countries affected by the coronavirus are headed for a complete and possibly prolonged lockdown. Such a scenario [..]

Virus update: In the eye of the storm – Special Report

Posted on March 17, 2020 at 3:48 pm GMT

With world stocks collapsing and entire economies going into lockdown, everyone is wondering how much worse this crisis can get and how long it will last. In a nutshell, the situation will probably get worse before it gets better, both in financial markets and the real economy, as most of Europe and America are still far from ‘peak virus’. Ultimately, this shock will subside and given the overwhelming stimulus measures lately, the market rebound could be meteoric. However, we might [..]

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 500 index heavily negative after fiscal stimulus ideas; nears 2018 low

Posted on March 17, 2020 at 9:09 am GMT

The US 500 stock index (cash) crashed by another 11% on Tuesday as the US fiscal stimulus proposals seem to be spreading panic rather than reassuring investors. The index fell as low as 2,362, violating the 200-period simple moving average (SMA) on the weekly chart for the first time since 2011. Still, on the positive side it managed to halt the sell-off near the 2018 trough, keeping its long-term uptrend safe for now. On the daily chart, technical signals are not encouraging either. Although [..]

Daily Market Comment – Stimulus bonanza fails to calm markets as Europe goes on lockdown

Posted on March 16, 2020 at 9:39 am GMT

Fed slashes rates again and relaunches QE, but markets still gripped by panic RBNZ and BoJ also announce emergency moves More fiscal stimulus on the way but will it be enough? Dollar and stocks slip as China output slump fuels recession worries Fed cuts rates to 0% but investors fear the worst An unprecedented wave of central bank intervention was unable to restore order in the markets on Monday even as policymakers stepped up their response to the coronavirus crisis. [..]

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