Daily Market Comment – Brexit vote delayed; pound eases from 5-month highs

Posted on October 21, 2019 at 8:10 am GMT

UK Parliament postpones vote on revised Withdrawal Agreement, raising uncertainty But pound holds on to most gains as Prime Minister forced to request Brexit extension Markets mostly in risk-on mode amid positive US, China trade remarks Parliament puts the brakes on Boris’s Brexit plan British MPs voted to withhold their approval of the UK government’s renegotiated Brexit deal, in a blow to Prime Minister Boris Johnson, who is desperate to keep his promise of taking the country out of the [..]

Is the trade war morphing into a new cold war? – Special Report

Posted on October 18, 2019 at 1:05 pm GMT

The trade conflict between Washington and Beijing took a breather lately, after the two camps agreed on some small issues and reached a de-facto truce. Even if this small agreement is finalized in November though, a ‘big’ deal wouldn’t be any closer as neither side is ready to compromise on the real issues. For that to change, a US recession might need to come on the horizon, making Trump soften his stance to boost the economy before the 2020 election. [..]

Daily Market Comment – Brexit deal done, but will Parliament approve?

Posted on October 18, 2019 at 8:14 am GMT

New Brexit deal heads to a vote in the UK Parliament on Saturday A rejection may see sterling open lower, but any retreat to stay short-lived Syria ceasefire pushes Turkish lira higher Several Fed officials speak today – crucial for October rate-cut pricing There and back again: A Brexit deal story After a week of intense negotiations, the EU and the UK finally reached a Brexit deal yesterday, which will be put to the British Parliament on Saturday for a [..]

Daily Market Comment – Sterling all over the place amid Brexit rollercoaster

Posted on October 17, 2019 at 8:14 am GMT

Conflicting Brexit headlines pull the pound in all directions Dollar retreats after disappointing US retail sales, euro capitalizes Aussie jumps after decent jobs data curb bets for RBA rate cuts Pound goes for another rollercoaster ride The British pound remains in the eye of the storm, with a barrage of conflicting Brexit headlines yesterday pulling the currency in all directions. A deal wasn’t reached, though progress has seemingly been made, and the negotiations will continue today. That said, both sides [..]

Daily Market Comment – Pound breaks higher as Brexit euphoria grows

Posted on October 16, 2019 at 8:25 am GMT

Pound resumes rally as optimism for a deal grows, but risk of pullback elevated US-China tensions flare up again as Congress pushes Hong Kong bill US retail sales data today may be crucial for whether Fed cuts in two weeks Sterling surges on reports Brexit deal is close, but hold your horses The British currency resumed its upward trajectory yesterday, touching a new five-month high against the dollar, after several reports suggested that a Brexit deal is drawing closer. Beyond [..]

Daily Market Comment – Sterling jumps on Brexit hopes; Trump sanctions Turkey

Posted on October 15, 2019 at 8:23 am GMT

Pound shoots up on hopes for a Brexit deal this week Brexit optimism lifts stock markets too, but trade concerns linger Trump hits Turkey with tariffs and sanctions, yet lira climbs Barnier says Brexit deal still possible this week, pound charges higher The Brexit saga remains the dominant theme in the FX market. Investors are holding their breath to see whether a deal will be reached, after the negotiations intensified in recent days. This morning, chief EU negotiator Barnier said [..]


US banks poised for a weaker earnings season – Stock Market News

Posted on October 14, 2019 at 4:06 pm GMT

It will be a “Bank week” for the US as the four largest banks by market capitalization will kick off the earnings season by reporting their financial statements for the third quarter. JPMorgan Chase, Citigroup and Wells Fargo will be announcing on Tuesday, while Bank of America will release its own numbers on Thursday. Under a lower interest rate environment, traders will be looking for any signs of weakness in net interest rate margins. Yet, the banking results may not appear as ugly [..]

Daily Market Comment – Symbolic trade deal lifts sentiment; sterling cools

Posted on October 14, 2019 at 8:12 am GMT

US and China reach ‘mini’ trade deal, but markets remain skeptical Pound pulls back as DUP signals it might not support Boris’s deal Loonie soars after Canadian jobs data beat estimates Trade truce lifts stocks, sends yen lower Global risk appetite got a boost on Friday, with stocks edging higher while safe havens like the Japanese yen surrendered ground, after the world’s two largest economies reached a truce in their fiery trade battle. This ‘limited’ trade agreement will see China [..]

Will the US-China talks disappoint markets? – Forex News Preview

Posted on October 8, 2019 at 10:29 am GMT

Top American and Chinese negotiators will face off in another round of trade talks on Thursday. Will the two sides reach a ‘limited’ trade deal, where Beijing buys agricultural US products in exchange for Washington postponing its planned tariff hikes? It’s a close call, but a failure to reach such a deal could leave markets disappointed and spark another bout of risk aversion. High hopes The stakes are especially high heading into this negotiating round, as the US is scheduled [..]


Technical Analysis – Is US500 index forming a double top pattern?

Posted on October 7, 2019 at 12:14 pm GMT

US 500 stock index registered three negative weeks in a row and the short-term trading may not get any better yet as the technical indicators keep flashing bearish signals; the MACD has dropped into the negative area and is currently looking stable below its red trigger line, while the RSI seems ready to reverse lower after touching its 50 neutral mark. The 2,815 level looks to be the neckline of a double top formation and therefore any decisive close under [..]

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