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 – 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 [..]

Week Ahead – Big week for Chinese data; make or break time (again) for Brexit

Posted on October 11, 2019 at 12:49 pm GMT

Monthly reports on inflation, retail sales and employment will get into full swing next week, but China is likely to steal the limelight as it will have the busiest calendar. All eyes will be on the third quarter GDP estimate as China battles to prevent a hard landing of its economy amid a deepening trade dispute with the United States. But the ongoing trade war isn’t the only thing that will be causing fatigue for investors as the Brexit drama [..]

Technical Analysis – USDCAD bears reverse below 200-day SMA and 50.0% Fibonacci

Posted on October 11, 2019 at 9:33 am GMT

USDCAD trades between the converging simple moving averages (SMAs) with the sellers attempting to move underneath the 50-day SMA, after a deflection off the upper band of a two-month trading range. The signals from the tangled SMAs are indistinct. However, the MACD, although marginally above its red trigger line in the positive zone, looks to cross beneath it, while the RSI is flirting with the uptrend line, which has presently merged with the neutral 50 mark. Despite a near term [..]

Daily Market Comment – Trade optimism lifts risk assets; pound soars after UK and Ireland see “pathway” to deal

Posted on October 11, 2019 at 8:07 am GMT

Risk sentiment boosted after Trump says negotiations were “very, very good” Safe havens retreat along with US dollar, but caution keeps gold elevated Pound skyrockets after UK and Irish PMs say they see “pathway to possible deal” Renewed optimism that US and China can de-escalate tensions Signs that the US and China were making much-needed progress in their long-running trade dispute lifted market sentiment on Friday, leading to a broad-based risk-on mood. President Trump told reporters the talks are “going [..]

Canada’s jobs data in focus as loonie can’t catch a break – Forex News Preview

Posted on October 9, 2019 at 1:20 pm GMT

The latest employment data out of Canada – at 12:30 GMT on Friday – will reveal whether the economy remains an oasis of strength in an otherwise weakening global environment. Forecasts point to another decent month, but PMI surveys were not as optimistic, suggesting that a disappointment in the jobs data may be more likely. As for the loonie, the outlook seems negative. If monetary policy divergence wasn’t enough to propel the currency higher in recent months, it’s difficult to [..]

Week ahead – Interim trade deal or another salvo of tariffs?

Posted on October 4, 2019 at 12:52 pm GMT

Without a doubt, the main event next week will be the US-China trade talks, which commence on Thursday. Several key economic data are also on the menu, but those will only be a sideshow. Rather, what will make or break market sentiment is whether the two superpowers reach an ‘interim’ trade deal that deescalates tensions a little. It’s a very close call, but Trump may have more incentives not to strike a small deal, and keep ‘maximum pressure’ on Beijing [..]

Daily Market Comment – Pandemonium in markets after dismal data; US payrolls may disappoint too

Posted on October 4, 2019 at 7:53 am GMT

Yen climbs, dollar drops as dismal ISM non-manufacturing survey stokes recession worries Risk sentiment recovers by end of US session however, on stimulus hopes US nonfarm payrolls may also disappoint today; Fed chief Powell speaks too Market havoc continues as weak ISM PMI keeps investors wary The US services sector is starting to catch the cold that’s been tormenting the manufacturing sector in recent months, according to the latest ISM data. The non-manufacturing PMI for September fell by more than [..]

Technical Analysis – USDCAD in battle with 1.3340 familiar resistance

Posted on October 4, 2019 at 7:32 am GMT

USDCAD gathered strong bullish momentum on Wednesday and is currently trading near the key 1.3340 resistance level, which the bulls could not successfully overcome for more than three months now. Technically there is more bullish fuel in store as the RSI has left the neutral territory and adopted an upward direction above 50, while the MACD is also picking up strength above its red signal line. Questions however remain about whether the price can close decisively above the 1.3340 ceiling. If this is the [..]

Daily Market Comment – Stocks crash as recession fears intensify

Posted on October 3, 2019 at 8:12 am GMT

Investors back on recession watch; all eyes on the ISM non-manufacturing PMI today Speculation for Fed rate cuts no longer supports stocks – paradigm shift? Sterling yawns as markets say Brexit proposal is not a needle-mover Equities dive, yen roars back as investors grapple with recession worries Wall Street recorded substantial losses on Wednesday, with the S&P 500 (-1.8%) falling sharply and Asian markets being a sea of red today, as traders continued to cut their risk exposure amid worries [..]

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