USDX

Daily Market Comment – Stocks under pressure amid growth jitters; dollar off lows

Posted on April 15, 2020 at 8:36 am GMT

Uncertainty about growth outlook resurfaces after IMF warning, weighing on stocks Dollar pulls higher as risk aversion sets in US earnings and retail sales data could make for a rocky ride Stocks muted as growth jitters return Equity markets were struggling for momentum on Wednesday as the IMF’s latest economic forecasts served as a reminder to investors that the virus crisis will take a heavy toll on the global economy. In its April report, the IMF projected that the global [..]

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:24 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Technical Analysis – US dollar index lacks direction above 200-MA

Posted on April 10, 2020 at 12:32 pm GMT

US dollar index’s latest dip appears to be pausing ahead of the 200-period simple moving average (SMA), reflecting an unclear direction after the push up from the 98.38 trough. The flat demeanour of the 200-period SMA and the conflicting signals between the 50- and 100-period SMAs further back the uncertain course. Moreover, the price actions’ frozen state is also mirrored within the directional momentum in the short-term oscillators. The MACD has slipped marginally below zero and its red trigger line. [..]

Week Ahead – China to reveal virus damage on GDP as markets cling onto optimism

Posted on April 10, 2020 at 11:57 am GMT

As much of the world is stuck in a lockdown, one country where life has started to return to normal will shed some light on the toll of the virus outbreak on its economy as China reports GDP growth estimates. The data could either spread misery or provide a glimmer of hope to those countries still heavily stricken by the coronavirus. US indicators will also be scrutinized as March numbers for retail sales and industrial production are released. But aside [..]

Technical Analysis – US dollar index lacks direction above the 200-MA

Posted on April 10, 2020 at 11:54 am GMT

US dollar index’s latest dip appears to be pausing ahead of the 200-period simple moving average (SMA), reflecting an unclear direction after the push up from the 98.38 trough. The flat demeanour of the 200-period SMA and the conflicting signals between the 50- and 100-period SMAs, further back the uncertain course. More so, price actions’ frozen state is also mirrored within directional momentum in the short-term oscillators. The MACD has slipped marginally below zero and its red trigger line. However, [..]

Virus containment could spell trouble for the dollar – Special Report

Posted on April 7, 2020 at 2:18 pm GMT

It didn’t take long for the US dollar to reclaim its crown as king of currencies after a brief but sharp sell-off in late February. An acute shortage of dollars across global markets, driven by a panic rush for cash as the virus turmoil deepened, has bolstered the US currency’s safe haven status. But amid some tentative signs of a possible levelling-off in the rise of new infected cases, is there a risk of the dollar falling off a cliff? [..]

Daily Market Comment – Oil seesaws on doubts about Saudi-Russia cuts; dollar firms ahead of NFP

Posted on April 3, 2020 at 8:27 am GMT

Oil surges then dips as markets question Trump’s claim of a Russia-Saudi Arabia deal Stocks turn lower as oil boost fades, services PMIs spread gloom Dollar set for weekly gains; unlikely to be held back by poor NFP Oil spikes as Trump ups pressure on Russia and Saudi Arabia Oil prices saw their biggest daily jump on record on Thursday after President Trump tweeted that Russia and Saudi Arabia – the world’s biggest oil producers after the United States – [..]

Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:20 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]

Daily Market Comment – Dollar firms, stocks dive again as US virus cases soar

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

Risk sentiment sours again on mounting virus fallout, pulling stocks lower Manufacturing PMIs heighten recession fears; US ISM PMI next in focus Fed tries to ease dollar funding pressure but unable to keep currency down for long Stocks head south as virus panic returns It was a poor start to the second quarter for stock markets around the world as the growing coronavirus pandemic shows no sign of slowing, with the number of cases globally shooting past 800,000 yesterday. Stocks [..]

Daily Market Comment – Stocks buoyed by China PMIs; yen down on fiscal year-end positioning

Posted on March 31, 2020 at 8:45 am GMT

Chinese PMIs unexpectedly turn positive in March, lifting stocks, but only slightly Signs of contagion slowing in Europe but uncertain outlook keeps lid on sentiment Yen slips as Japanese investors scramble for dollars at end of fiscal year Some joy from bounce in Chinese PMIs Markets were in a relatively upbeat mood on Tuesday as encouraging PMI numbers out of China and a positive close on Wall Street lifted shares in Asia. European indices jumped more than 1% at the [..]

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