Week Ahead – Plenty of data but Covid, Trump and Brexit might steal the spotlight

Posted on November 13, 2020 at 1:40 pm GMT

After the US election and vaccine frenzy, economic data will move to the forefront in the coming week, with inflation and retail sales comprising the bulk of the releases. However, investors might be wrong to assume that the election and virus storms are over as Trump steps up his legal fight to overturn Joe Biden’s projected win and as several states in America head towards new lockdowns. If all that fails to produce enough drama, there is always Brexit waiting [..]

Daily Market Comment – White House steps back from stimulus negotiations

Posted on November 13, 2020 at 9:31 am GMT

Markets quiet on Friday as latest bout of risk aversion fades Equities set to end week barely higher, yen and gold much lower Investors grappling with vaccine hopes vs rising infections White House reportedly stepping back from fiscal talks It’s a battle of narratives Global markets appear trapped between conflicting drivers, with rampant optimism for a vaccine painting a brighter picture for next year but surging infections and fading prospects of powerful fiscal stimulus keeping the animal spirits in check. [..]


Japanese preliminary Q3 GDP may raise fresh concerns about recovery – Forex News Preview

Posted on November 12, 2020 at 3:50 pm GMT

Japanese GDP preliminary numbers for Q3 2020 are coming up during the early Asian session on Sunday at 23:50 GMT. Japan’s economy likely rebounded in the third quarter as global demand picked up, but the effects of the Covid-19 crisis persisted, and it could take some time for output to return to pre-pandemic levels. Despite this week’s slide, the Japanese yen has been rising over the last seven months against the US dollar, while stronger figures may drive the market even higher. An expansion is predicted after the record shrink The Japanese gross domestic product [..]

Daily Market Comment – Vaccine euphoria runs out of steam, Fed chief speaks

Posted on November 12, 2020 at 9:36 am GMT

Markets in a cautious mood as lockdown reality eclipses vaccine hype Stocks pull back, dollar climbs, but moves rather small in size Main event today: Discussion panel featuring Fed, ECB, and BoE chiefs ECB sticking to its guns about more stimulus, will Fed follow suit? Back to reality for markets A sense of caution has crept back into global markets on Thursday as investors grapple with the short-term covid reality on the ground, which has reined in the enthusiasm around [..]

Daily Market Comment – RBNZ lights a fire under the kiwi, sterling climbs too

Posted on November 11, 2020 at 9:13 am GMT

RBNZ plays down negative rates, kiwi flies Sterling leaps after divisive bill suffers crushing defeat in Lords Markets in a cheerful mood overall, but watch the Fed   Kiwi charges higher after RBNZ ‘disappoints’ The kiwi dollar took off like a rocket on Wednesday, extending the gains it recorded amid all the vaccine enthusiasm, after the Reserve Bank of New Zealand poured cold water on speculation for negative rates. While the Bank maintained a cautious tone and even introduced a [..]

Technical Analysis – USDJPY’s strong jump suggests bullish actions

Posted on November 11, 2020 at 7:40 am GMT

USDJPY is developing slightly above the 23.6% Fibonacci retracement level of the down leg from 111.70 to 103.18 at 105.20 after the sharp buying interest from the new eight-month trough of 103.18, achieved on November 6. The price touched the upper boundary of the long-term descending channel, while a jump above it would shift the bearish structure to neutral. According to technical indicators, the MACD jumped above its trigger line in the negative territory, while the RSI is pointing marginally [..]

Daily Market Comment – Wall Street charges higher on vaccine news, but bond market ruins the party

Posted on November 10, 2020 at 9:18 am GMT

US stock market hits new record after Pfizer vaccine announcement Crude oil and commodity currencies soar, yen crumbles alongside gold However, the party doesn’t last – stocks give up most gains, dollar reverses higher RBNZ meeting coming up, vaccine and stimulus news remain in focus Pfizer vaccine news catapult markets to new records Christmas came early for investors this year, with global equities charging higher and safe havens falling apart after drug maker Pfizer announced that the coronavirus vaccine it [..]


Technical Analysis – USDJPY pulls back from 8-month low

Posted on November 9, 2020 at 10:20 am GMT

USDJPY is reversing slightly higher after the aggressive sell-off in the preceding sessions towards the fresh eight-month low of 103.17. From the technical viewpoint, the RSI is ticking up in the negative territory, while the MACD posted a bullish crossover with its trigger line below the zero level. The 20- and 40-period simple moving averages (SMAs), though note that the red Kijun-sen line is flat and the blue Tenkan-sen also appears to be flatlining. If the bulls manage to hold control, then [..]

Daily Market Comment – Stocks resume furious rally as Biden wins

Posted on November 9, 2020 at 8:59 am GMT

US election ‘aftershocks’ continue – equities roar higher, dollar slips Several theories floated to justify this relentless rally, but question is, can it last? Markets may revert to trading covid news and prospect of fiscal package Crunch time in Brexit talks too, traders seem confident a deal is coming US stocks back near record highs It’s official. Joe Biden was declared the new president-elect of the United States over the weekend, injecting another dose of optimism into global markets even [..]

Daily Market Comment – Post-election rally eases as Biden advances in swing states

Posted on November 6, 2020 at 9:59 am GMT

White House race remains too close to call but Biden win becoming more likely Equity rally cools as markets give Washington gridlock a thumbs up Dollar steadies with Treasury yields as Fed keeps policy on hold NFP up next but US election and record virus cases to stay in focus Biden inches towards victory in knife-edge election The US presidential election remains an open race as counting enters day four, though the odds appear to be moving in favour of [..]

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