Daily Market Comment – Stocks and currencies tell a conflicting story

Posted on October 13, 2020 at 9:46 am GMT

Equities cruise higher, back within breathing distance of record highs But FX doesn’t play ball – yen climbs, commodity currencies underperform Euro headed for trouble amid high infections and growth worries Today: US inflation data coming up, earnings season resumes Currencies don’t play along with stock rally The US stock market rallied furiously on Monday, with the tech-heavy Nasdaq 100 gaining 3.1% to come within breathing distance of its recent record highs, propelled higher by the likes of Apple (+6.4%) [..]

Daily Market Comment – Art of the Deal sends equities higher, torpedoes dollar

Posted on October 12, 2020 at 8:38 am GMT

White House bumps stimulus offer to $1.8 trillion, stock market cheers Kudlow hints this offer could be raised further, keeping optimism alive Dollar slides amid renewed deficit concerns, gold capitalizes ECB chief economist prepares the ground for more easing Markets cheerful as stimulus negotiations resume In an epic reversal after pulling out of the stimulus talks last week, Donald Trump came back to the negotiating table on Friday with a counteroffer of $1.8 trillion, sparking hopes that a deal is [..]

Daily Market Comment – Stimulus talks back on but White House chaos caps stock gains

Posted on October 9, 2020 at 9:02 am GMT

Trump flip-flops on stimulus bill, reviving hopes of pre-election fiscal boost But stocks up only moderately amid caution about talks and global recovery worries Dollar drifts lower, loonie soars ahead of jobs data as oil turns bullish Trump U-turns on relief package but uncertainty about deal lingers Talks between the White House and the Democrats on a new virus relief bill have restarted after President Trump reversed his decision from just two days earlier to end them. Trump had instead [..]

Daily Market Comment – Dollar slides, stocks climb on renewed stimulus hopes

Posted on October 8, 2020 at 8:57 am GMT

Stimulus deal not dead yet but confusion about size and timing keeps risk appetite in check Wall Street closes at one-month high as investors warm up to idea of Biden win Fed minutes lift Treasury yields but dollar sold off on improved sentiment Kiwi stabilizes after plunging on fresh negative rates speculation Markets undeterred by stimulus setback, see a deal in the offing Equities got off to a positive start on Thursday following a strong performance on Wall Street yesterday [..]

Daily Market Comment – Trump calls off stimulus talks, sinks Wall Street; dollar up

Posted on October 7, 2020 at 9:06 am GMT

Trump halts stimulus negotiations with Democrats, sends stocks spinning lower But losses cut short as Trump calls for standalone relief bills Dollar comes off highs, eyes FOMC minutes for fresh policy clues Markets not giving up on stimulus as Trump sows confusion Risk assets bounced back on Wednesday as investors questioned President Trump’s intentions for abruptly abandoning talks with the Democrats on a new coronavirus relief bill. A few hours after Trump put an end to the negotiations – where [..]

Technical Analysis – USDJPY radios improvement; advances display promise

Posted on October 7, 2020 at 8:28 am GMT

USDJPY is currently propelling over the controlling 50-day simple moving average (SMA) at 105.78, coupled with the cloud’s lower band, in an attempt to shift the stagnant bias. The Ichimoku lines are presently providing marginal backing to benefit the mostly sluggish price, while the gliding SMAs continue to preserve a mostly passive picture. Nonetheless, the short-term oscillators suggest that positive momentum is strengthening. The MACD, in the negative region, is above its red trigger line and is approaching the zero [..]


Technical Analysis – USDJPY crowned by 200-MA; price appears static

Posted on October 5, 2020 at 12:08 pm GMT

USDJPY is struggling to push above the 200-period simple moving average (SMA) as directional momentum has dampened. The Ichimoku lines appear powerless in aiding the stagnant pair while the flattening out of the simple moving averages (SMAs) promotes additional sideways development. The MACD has improved marginally above zero and its red trigger line but remains around its neutral zone, while the RSI is losing pace in bullish territory. Moreover, the stochastics %K line is stalling in the overbought section but [..]

Daily Market Comment – Equities recover as Trump keeps stimulus hopes alive

Posted on October 5, 2020 at 8:44 am GMT

Sentiment recovers on signs that stimulus deal is still in play Stocks rebound alongside crude oil, Japanese yen and gold retreat Markets to stay focused on ultimate game of ‘Deal or No Deal’ Coming up: ISM non-manufacturing and RBA policy decision Markets take solace from signs stimulus is coming Global markets opened on a cheerful note on Monday, emboldened by hopes that a relief package deal can still be brokered in America and that President Trump’s health is improving. The [..]

Daily Market Comment – Markets tank as Trump tests positive for covid, nonfarm payrolls coming up

Posted on October 2, 2020 at 8:01 am GMT

Equities sink, dollar jumps as President Trump gets coronavirus How does this affect election dynamics? Is Biden bad for markets? Sterling trades like a pinball machine amid conflicting Brexit headlines US jobs report is the main event today, European inflation data too Trump throws markets into disarray Global markets are tanking on Friday after US President Trump confirmed he has tested positive for covid-19, injecting another dose of uncertainty into election dynamics. Wall Street futures were already flashing red because [..]


Daily Market Comment – Stimulus package hopes propel stocks higher, sink dollar

Posted on October 1, 2020 at 8:41 am GMT

Stock markets erase early losses, close higher on hopes of a US fiscal deal Dollar sinks on concerns government deficit will blow up But euro falls even more as ECB teases Fed-style inflation approach Stimulus talks will continue to drive markets today, along with key data Wall Street stages epic comeback Global markets continue to dance to the tune of the US stimulus talks. Wall Street erased some early losses to close substantially higher on Wednesday as negotiators took another [..]

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