Technical Analysis – USDCHF slips to 15-month low; oversold signals strengthen

Posted on January 16, 2020 at 3:51 pm GMT

USDCHF having cracked below the 2019 trough in the last minute in December it ticked to 15-month low of 0.9612 on Friday. The bearish short-term bias remains intact but oversold signals are strengthening now as the RSI is testing the 30 level and the Stochastics are diving below 20, while the price itself is already close to the lower Bollinger band, all hinting that the negative action may be running out of steam. The middle Bollinger band currently at 0.9729 [..]

Daily Market Comment – Phase One deal brings some cheer despite doubts; dollar drifts lower

Posted on January 16, 2020 at 9:21 am GMT

US and China finally sign ‘phase one’ trade deal; stocks head into record territory Details of deal fail to reassure sceptics about enforcement and target for Chinese purchases Focus to shift to data with US retail sales and Chinese Q4 GDP coming up Markets buoyed as Phase One deal clears final hurdle US President Donald Trump and Chinese Vice Premier Liu He put pen to paper to the long-awaited ‘Phase One’ deal on Wednesday, hoping to draw a line over [..]

Daily Market Comment – Markets turn cautious ahead of trade deal signing as Mnuchin dashes hopes of further tariff cuts

Posted on January 15, 2020 at 9:10 am GMT

Risk appetite eases as details of ‘phase one’ trade deal expected to reveal few surprises US Treasury Secretary Steven Mnuchin suggests no additional tariff rollbacks before ‘phase two’ Stocks slip into the red, yen and franc edge up Market mood dampened ahead of trade deal signing The highly anticipated signing of the ‘phase one’ trade pact between the United States and China will take centre stage later today but with the deal already fully priced in by investors, the event [..]


Daily Market Comment – Oil jumps, Mideast tensions rise after US air strikes kill Iranian commanders

Posted on January 3, 2020 at 9:15 am GMT

Tensions flare up in the Middle East after US air strikes kill Iran’s top military leader Oil prices shoot higher, stocks turn negative after the attacks Gold hits 4-month high, yen and Swiss franc soar US air strikes kill risk-on mood Heightened geopolitical tensions threatened to destroy the risk-on sentiment that’s been driving the markets since December after the United States launched air strikes in Iraq, killing top Iranian military officials. The US Defense Department said President Trump had ordered [..]


Daily Market Comment – Stocks start new year on positive note; dollar recoups some losses

Posted on January 2, 2020 at 9:36 am GMT

Policy easing in China lifts stocks in Asia on first trading day of the year But as stocks extend their rally, in FX markets, most majors pull back against the dollar Gold edges up towards 3-month highs amid some tensions in Middle East and North Korea Quiet start to new year The new year got off to a subdued start with equity markets extending their incredible rally of 2019 and little new developments to rattle currency markets. But with Japanese [..]


Technical Analysis – USDCHF breaks lower as bears take the wheel

Posted on December 20, 2019 at 11:07 am GMT

USDCHF broke below an uptrend line in early December, which later acted as resistance, forcing the market to head down and post a lower low on the daily chart. The near-term bias has therefore turned negative, something also endorsed by the downward slope in the 50-day simple moving average (SMA). Negative momentum has taken a breather though, as indicated by the rebound off the 0.9770 zone and the latest upturn in the RSI. That said, the RSI is still well [..]

Daily Market Comment – Pound stumbles, franc and yen up as Johnson aims for hard Brexit

Posted on December 20, 2019 at 9:14 am GMT

Pound headed for large weekly loss as UK government pushes for speedy Brexit Hard Brexit fears support safe havens even as US and China move closer to signing trade deal US consumption and inflation data eyed before holiday lull Brexit moves closer to reality, unnerves markets UK Prime Minister Boris Johnson used his post-election Queen’s speech yesterday to unveil his Brexit agenda and reintroduce the Withdrawal Agreement bill to Parliament with some changes. The revised bill has all the indications [..]


Technical Analysis – USDCHF fails to close below crucial support and turns up

Posted on December 11, 2019 at 2:54 pm GMT

USDCHF looks to have bottomed the pullback off the 1.0022 high near the familiar 50% Fibonacci retracement of the 0.9658-1.0026 bullish wave as the RSI and the Stochastics are turning up after hitting oversold levels. Additional gains could potentially retest the 40-period exponential moving average (EMA) that curbed upside movements last week. Breaking higher and above the 38.2% Fibonacci of 0.9886, recent peaks around 0.9908 could take control ahead of the 23.6% Fibonacci of 0.9940. Closing decisively below the 50% Fibonacci of 0.9843, [..]


SNB meeting: No rate cuts yet, just FX intervention – Forex News Preview

Posted on December 11, 2019 at 12:36 pm GMT

The Swiss National Bank (SNB) will announce its quarterly decision at 08:30 GMT on Thursday. No action is expected, though markets do assign an almost 20% chance for a rate cut. That said, since the SNB already boasts the lowest interest rates globally, it doesn’t have many ‘rate bullets’ left, so it may prefer to save its final rate cut in case a shock hits. The franc could spike higher if rates are indeed left unchanged, while its broader direction [..]

Daily Market Comment – Markets rattled as Trump says “no deadline” for trade deal; gold jumps

Posted on December 4, 2019 at 9:29 am GMT

Risk mood darkens after Trump hints he’s in no hurry to sign trade deal with China US bill on China’s treatment of Muslim minorities further raises tensions between the two countries Safe havens soar as stocks and Treasury yields slide US ISM non-manufacturing PMI awaited; BoC decision eyed too Trump sends markets spinning as trade deal hopes fade Risk sentiment was dealt another blow on Tuesday after US President Donald Trump dampened hopes of an early resolution to the long-running [..]

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