EURUSD

Daily Market Comment – Trade optimism lifts risk assets; pound soars after UK and Ireland see “pathway” to deal

Posted on October 11, 2019 at 8:08 am GMT

Risk sentiment boosted after Trump says negotiations were “very, very good” Safe havens retreat along with US dollar, but caution keeps gold elevated Pound skyrockets after UK and Irish PMs say they see “pathway to possible deal” Renewed optimism that US and China can de-escalate tensions Signs that the US and China were making much-needed progress in their long-running trade dispute lifted market sentiment on Friday, leading to a broad-based risk-on mood. President Trump told reporters the talks are “going [..]

Technical Analysis – EURUSD rallies above 4-month-old downtrend line

Posted on October 10, 2019 at 12:37 pm GMT

EURUSD finally managed to rally above the four-month descending trendline and stretch towards a three-week high of 1.1033 on Thursday. On the four-hour chart, the short-term oscillators are all pointing upwards, suggesting that the bullish forces could stay intact. Despite that, traders should treat the upside correction carefully as the RSI and the Stochastics approach overbought territory at a time when the price is also flirting with the upper Bollinger band. A decisive close above 1.1025 could see the price rising until the 1.1070 [..]

Daily Market Comment – Markets calm but choppy amid mixed signals on trade talks

Posted on October 10, 2019 at 8:28 am GMT

Conflicting reports on state of US-China trade talks pull sentiment in all directions Hope of a partial trade deal sees calm restored before top-level talks are set to start Euro shoots higher ahead of ECB minutes Pound not holding its breath for breakthrough as UK and Irish PMs meet for last-ditch Brexit talks Trade talks still dominating markets’ attention There’s no escaping the US-China trade war saga not even for a single day this week as the headlines keep rolling [..]

Daily Market Comment – Stocks edge up on cautious optimism for interim US-China trade deal; dollar steady

Posted on October 8, 2019 at 8:30 am GMT

Risk sentiment improves slightly on hopes US and China can reach limited trade deal Stocks, aussie and kiwi up, but most majors stuck in sideways ranges Pound under pressure as EU lists objections to Johnson’s Brexit plan Trade talks resume but little chance of breakthrough US and Chinese negotiators resumed trade talks in Washington on Monday amid a tense environment as the Trump administration added another 20 Chinese public security bureaus and 8 tech companies to its trade blacklist. Although [..]

Technical Analysis – EURUSD eyes downtrend line

Posted on October 7, 2019 at 9:14 am GMT

EURUSD buyers pushed above 1.0965, which is the 23.6% Fibonacci retracement of the down leg from 1.1249 to 1.0878, despite the negative signals. Regardless of the intact Tenkan-sens’s bearish crossover of its Kijun-sen line and their flattened states, the bulls rallied higher and reversed the pair off a multi-year low of 1.0878. The short-term oscillators continue to reflect weakening negative directional momentum despite somewhat improving. The MACD remains in the negative area but above its red trigger line, while the [..]

Daily Market Comment – Subdued tone ahead of US-China trade talks; pound slips as Johnson given week to revise Brexit plan

Posted on October 7, 2019 at 8:08 am GMT

US-China trade talks dominate markets’ attention as hopes are low for a deal Yen edges up as trade and political uncertainties build up and growth outlook worsens Pound inches lower as Johnson given one week to revise proposed Brexit plan Trade talks in focus but optimism runs low The safe-haven yen and gold pushed higher on Monday as the week got off to a cautious start ahead of much-anticipated high-level trade discussions between the United Stated and China later this [..]

Week ahead – Interim trade deal or another salvo of tariffs?

Posted on October 4, 2019 at 12:54 pm GMT

Without a doubt, the main event next week will be the US-China trade talks, which commence on Thursday. Several key economic data are also on the menu, but those will only be a sideshow. Rather, what will make or break market sentiment is whether the two superpowers reach an ‘interim’ trade deal that deescalates tensions a little. It’s a very close call, but Trump may have more incentives not to strike a small deal, and keep ‘maximum pressure’ on Beijing [..]

Daily Market Comment – Pandemonium in markets after dismal data; US payrolls may disappoint too

Posted on October 4, 2019 at 8:09 am GMT

Yen climbs, dollar drops as dismal ISM non-manufacturing survey stokes recession worries Risk sentiment recovers by end of US session however, on stimulus hopes US nonfarm payrolls may also disappoint today; Fed chief Powell speaks too Market havoc continues as weak ISM PMI keeps investors wary The US services sector is starting to catch the cold that’s been tormenting the manufacturing sector in recent months, according to the latest ISM data. The non-manufacturing PMI for September fell by more than [..]

Daily Market Comment – Stocks crash as recession fears intensify

Posted on October 3, 2019 at 9:01 am GMT

Investors back on recession watch; all eyes on the ISM non-manufacturing PMI today Speculation for Fed rate cuts no longer supports stocks – paradigm shift? Sterling yawns as markets say Brexit proposal is not a needle-mover Equities dive, yen roars back as investors grapple with recession worries Wall Street recorded substantial losses on Wednesday, with the S&P 500 (-1.8%) falling sharply and Asian markets being a sea of red today, as traders continued to cut their risk exposure amid worries [..]

Daily Market Comment – Manufacturing recession and Brexit ultimatum

Posted on October 2, 2019 at 8:45 am GMT

Stocks tank as disappointing US PMI data fuel recession fears Pound remains under pressure as Johnson’s Brexit ‘ultimatum’ is leaked Mood turns sour as ISM manufacturing PMI drops further into contraction Global markets went into turmoil yesterday, with risk aversion dominating after the US ISM manufacturing PMI unexpectedly dropped to a decade low of 47.8 in September, missing the forecast for a rebound to 50.1. Any reading below 50 suggests the sector is contracting, so the considerable decline in this [..]

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