Week Ahead – Flash February PMIs eyed as virus outbreak shows few signs of slowing

Posted on February 14, 2020 at 10:48 am GMT

The preliminary PMIs for February will take centre stage next week as they will provide the first insight into the possible impact of the coronavirus on the global economy. The flash releases in the Eurozone, Japan, the United Kingdom and the United States should reveal how businesses outside of China have been affected by the outbreak with the risk that runaway equity markets may be handed a tough reality check. In other data, Australian employment and Canadian and UK retail [..]


Japanese Q4 GDP may raise fresh concerns about outlook – Forex News Preview

Posted on February 14, 2020 at 10:41 am GMT

Japanese GDP number for Q4 in 2019 are coming up during the early Asian session on Monday at 01:50 GMT. Adding some significant pressure to Japan’s economy lately is the China’s coronavirus, which has threatened exports and factory output, as well as hitting tourism in the country. The economy expanded in the third quarter at a faster pace than anticipated, driven by stronger capital investment and private consumption ahead of the October 1 consumption tax increase. However, GDP is forecasted to print a negative reading of [..]

Daily Market Comment – Euro continues to suffer, pound jumps on fiscal hopes

Posted on February 14, 2020 at 9:25 am GMT

‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]

Daily Market Comment – Dollar capitalizes as euro crumbles; Risk aversion strikes back

Posted on February 13, 2020 at 9:22 am GMT

Euro/dollar and euro/franc sink to multi-year lows after weak data extinguish hopes of European recovery Pain train for euro may not be over, difficult to see what can turn this around Meanwhile, virus worries return to haunt stocks and commodity currencies as death toll jumps – yen shines Euro caves in under the weight of disappointing industrial data The world’s most traded currency pair continued its epic downfall yesterday, touching a low last seen in 2017 after a batch of [..]

Technical Analysis – USDJPY looks fragile near recent peaks

Posted on February 13, 2020 at 8:36 am GMT

USDJPY attempted to reach January’s 8-month high of 110.28 on Wednesday but efforts proved fruitless as the price pulled back into the 109.00 territory early on Thursday. The falling RSI, which failed to resume upward direction on Wednesday, suggests that momentum in the price may remain weak in the short-term. Yet, as long as the indicator continues to move above its 50 neutral mark, upside corrections cannot be ruled out. Currently, the 109.70 barrier is restricting the move down for [..]

Daily Market Comment – Stocks undeterred by Bernie win; RBNZ lifts kiwi

Posted on February 12, 2020 at 9:39 am GMT

US equities close at new highs as Powell confirms liquidity injections will continue Futures point to a higher open today as well, despite Bernie Sanders’ election victory Kiwi jumps as RBNZ abandons easing bias, signals an end to rate-cut cycle Wall Street sets more records, yen and gold retreat Financial markets continue to trade in a ‘risk-on’ manner as fears that the coronavirus will have a long-lasting impact on the global economy are gradually diminishing, thanks to a substantial slowdown [..]

Daily Market Comment – Wall Street hits new records, but beware of the Democratic primary

Posted on February 11, 2020 at 9:21 am GMT

Fading virus fears boost equities, but New Hampshire primary today poses risks Euro pummeled as markets price out prospect of a big German spending package Fed chief Powell testifies, ECB’s Lagarde and BoE’s Carney speak RBNZ rate decision coming up – a more dovish tone seems likely Stocks climb as virus fears fade, but how long until they ‘feel the Bern’? Concerns around the economic fallout of the coronavirus seem to be fading off the market’s radar, as the rate [..]

Daily Market Comment – ‘King dollar’ continues its reign after solid jobs data

Posted on February 10, 2020 at 9:45 am GMT

Dollar cruises higher after strong payrolls push back expected timing of Fed cuts Yet, stocks struggle for altitude, yen climbs as virus fears remain in play Aussie breaks 11-year low, but quickly bounces back The world’s reserve currency shined once again on Friday, after US payrolls for January exceeded estimates, prompting traders to push back the expected timing of the next Fed rate cut. Nonfarm payrolls rose by 225k, smashing the forecast for a 160k increase and signaling that the [..]

Week Ahead – RBNZ meeting, US retail sales and UK GDP to headline muted week

Posted on February 7, 2020 at 11:14 am GMT

As markets enjoy a bit of bounce back from the panic selling triggered by the outbreak of the deadly coronavirus, traders may struggle to keep the momentum going over the next seven days as things quieten down a little on the data front. Industrial production numbers out of the Eurozone, the United States and the United Kingdom will be the main release, though the focus will be on fourth quarter GDP estimates for the UK and on the latest retail [..]

Daily Market Comment – Risk aversion creeps in as virus death toll jumps

Posted on February 7, 2020 at 9:27 am GMT

Equities rally fades as spread of coronavirus shows no sign of slowing Yen edges up but dollar also holds firm ahead of US jobs report Pound set for large weekly losses amid Brexit brinkmanship Virus fears intensify; risk rally loses steam The relief rally sparked by China’s efforts to contain the coronavirus and support its economy appeared to run out of steam by the end of the week as most major stock indices in Asia turned red on Friday. Futures [..]

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