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US big banks report Q2 earnings, could S&P 500 resume bull game? – Stock Market News

Posted on July 14, 2020 at 9:13 am GMT

US banks will kick off the earnings season for the second quarter this week in the pre-market session. JPMorgan Chase & Co, Citigroup, and Wells Fargo are reporting financial results on Tuesday, while on Wednesday, Goldman Sachs is announcing its own numbers before Bank of America and Morgan Stanley take the baton on Thursday. The data are arriving at a crucial time and could prove to be directional as markets are wondering whether the second virus outbreak can be a [..]

Daily Market Comment – Wall Street stumbles as US-China tensions brew, virus cases surge

Posted on July 14, 2020 at 8:46 am GMT

Nasdaq falters as more US states roll back reopenings amid record new infections Sino-US tensions also upset stocks, but dollar and gold hold steady Markets braced for busy week as earnings, data and central bank meetings coming up Tech stocks in rare selloff Shares on Wall Street slipped late into the session on Monday as a persistent surge in new coronavirus cases across the United States unnerved investors. The tech-heavy Nasdaq Composite had been trading in record territory before reversing [..]

Technical Analysis – EURJPY advances eyeballed; positive momentum suspended

Posted on July 14, 2020 at 8:21 am GMT

EURJPY is struggling to overcome the region around the 122.00 mark in spite of assisting positive signals. The recent progress from the 200-day simple moving average (SMA) appears postponed just below this constricting 122.00 handle, where the upper Bollinger band is currently located. The gradual inclines in the 100- and 200-day SMAs and the nearing of a bullish crossover of the latter, by the rocketing 50-day SMA, may boost the positive picture in the near-term. Further positive signals are hinted [..]

Technical Analysis – GBPUSD’s positive momentum could fade; indicators are flat

Posted on July 14, 2020 at 7:13 am GMT

GBPUSD has been moving sideways since the rebound off the 35-year low of 1.1409 on March 20, holding in an upward sloping channel. In the short-term, the market could maintain consolidation if the RSI keeps moving around 50 and the red Tenkan-sen line, as well as the blue Kijun-sen line, hold flat. Also, the MACD oscillator is moving marginally above zero level with weak momentum. An extension to the upside and above the 61.8% Fibonacci retracement level of the down leg from [..]

Technical Analysis – GER 30 index stalls appreciation above SMAs; momentum slows

Posted on July 13, 2020 at 3:27 pm GMT

Germany 30 Index (Cash) seems skewed to the upside as the price has moved above the rising simple moving averages (SMAs) and the Ichimoku cloud. Although the sideways market looks to be tipping towards the upside, it is currently on weak positive momentum, something also reflected in the Ichimoku lines and the short-term oscillators. The MACD, is holding above its red trigger line in the positive area with weak momentum, while the RSI gradually points higher in the positive region. [..]

Pound eyes UK GDP rebound but data to stress steep mountain to climb – Forex News Preview

Posted on July 13, 2020 at 2:53 pm GMT

Economic data out of the United Kingdom will be flooding the markets over the next few days with Tuesday’s monthly GDP print being the main highlight. The scheduled releases on growth, production, inflation and employment should reveal how the economy fared in May and June when Britain was gradually emerging from lockdown. But as output recovers from a record drop in April, the pound has moved to the bottom of the 2020 performance table as investors fear about the UK’s [..]

Technical Analysis – AUDUSD still consolidating; unable to break above upper channel

Posted on July 13, 2020 at 12:34 pm GMT

AUDUSD has been consolidating since June 16 and has been stuck in a channel tilted slightly to the upside. The neutral to bullish picture in the short term looks to last for a while longer after prices failed to break above the upper channel earlier this month. Resistance was met at around the 0.7000 psychological region after prices surpassed the simple moving averages (SMAs) and the Ichimoku cloud. The slightly bullish bias in the near term is supported by the [..]

Technical Analysis – US 500 index creeps higher; intentions appear positive

Posted on July 13, 2020 at 12:31 pm GMT

US 500 stock index (Cash) recently displayed a positive objective after finding a foothold on the 100-period simple moving average (SMA) and the upper surface of the Ichimoku cloud. The one-month neutral-to-bullish picture seems to have gained backing from the climbing SMAs and the recent bullish crossover by the 50-period SMA. Adding to this view are the positive signals reflected in the short-term oscillators. The MACD, in the positive region, is increasing above its red trigger line, while the RSI [..]

Technical Analysis – USDJPY attempts to meet mid-Bollinger band; neutral bias

Posted on July 13, 2020 at 10:32 am GMT

USDJPY produces an upward attempt above the 23.6% Fibonacci retracement level of the down leg from 109.85 to 106.07 at 106.95, turning the momentum indicators to the upside. Technically, the stochastic oscillator is heading north in the overbought zone, while the RSI is pointing higher in the negative territory. However, the moving averages are sloping down with the mid-level of the Bollinger band creating a negative cross with the 100-period simple moving average (SMA) in the very short-term. More upside [..]

Daily Market Comment – Stocks creep higher as terrible earnings loom; dollar slips further

Posted on July 13, 2020 at 8:50 am GMT

Stocks braced for disastrous earnings, but low bar sets stage for profit beats Dollar extends downward trajectory despite worrisome virus numbers Gold capitalizes on weaker greenback, but euro turns more cautious Worst earnings season ever? Equity markets were in a surprisingly chirpy mood on Monday, with little sign of distress ahead of what is expected to be the worst earnings season in at least 12 years. Banks will be the primary focus this week, with Citigroup, JP Morgan and Wells [..]

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