USDX

Technical Analysis – Dollar index stabilizes 7-day bearish strike near 2-year lows

Posted on July 28, 2020 at 9:43 am GMT

The US dollar index (futures) found a bottom around an almost two-year low of 93.40 after a seven-day bearish strike, which put the market back on a negative path. While the Stochastics and the RSI in the four-hour chart signal that the market has reached the edge of the oversold territory as the indicators move upwards, the index has now a long way to go to cross the 97.77 border and hence eliminate fears of a down-trending market. The strenghthening MACD oscillator is also [..]

Daily Market Comment – Dollar selloff eases; gold pulls back after setting fresh record

Posted on July 28, 2020 at 8:52 am GMT

Dollar crawls higher as Republicans finally unveil new stimulus proposal Gold touches $1,980/oz before pulling back, eyes dovish Fed Wall Street turns positive ahead of key earnings, likes weaker dollar Dollar attempts to end losing streak There was some respite for the US dollar on Tuesday as the heavy selling that has sunk the currency to more than two-year lows eased a little. The dollar index fell for the seventh straight session on Monday as signs of a faltering recovery [..]

Daily Market Comment – Gold reaches for the sky, euro soars too as dollar sags

Posted on July 27, 2020 at 8:51 am GMT

Uncertainty about US outlook pushes dollar to 22-month low, lifting gold and euro Precious metal hits all-time high as Sino-US tensions boost haven demand Stocks steadier after selloff; earnings and FOMC meeting in focus US virus cases could be slowing but dollar still rattled The US dollar plumbed fresh lows on Monday, slumping to the lowest in nearly two years against a basket of currencies, as investors shunned the world’s number one reserve currency in favour of the traditional safety [..]

Week Ahead – Fed meets as virus storm worsens; US and Eurozone set for historic GDP collapse

Posted on July 24, 2020 at 12:26 pm GMT

As US politicians squabble over the next fiscal stimulus bill and the country’s virus death toll ticks up again, markets may lean on the Federal Reserve next week for a quick fix. The Federal Open Market Committee (FOMC) meeting will undoubtedly be the most eagerly awaited event of the week. But second quarter GDP prints out of the United States and the euro area will not be far behind as the full extent of the economic shock from COVID-19 is [..]

Daily Market Comment – Soaring euro eyes EU fiscal boost; stocks mixed

Posted on July 22, 2020 at 12:22 pm GMT

Euro scales 4-month peak as EU leaders close in on virus rescue deal More restrictions as virus cases continue to surge globally Stocks get off to a mixed start as earnings season set to heat up Hopes rise for EU fiscal stimulus; euro flies No deal yet but the euro is soaring on positive signs that European Union leaders are close to reaching a compromise on how to allocate a €750 billion recovery fund to assist virus-stricken member states. In [..]

Daily Market Comment – Euro flatlines but stocks lifted by vaccine and stimulus progress

Posted on July 22, 2020 at 12:20 pm GMT

EU strikes compromise deal on a virus recovery fund but euro pares gains Positive vaccine headlines drive Nasdaq to record close as key earnings loom Win-win situation for gold as it climbs to 9-year highs Focus turns to talks on US fiscal package and Brexit; dollar sags but pound upbeat Europe gets its fiscal bazooka; euro pauses for breath European Union leaders ended a marathon summit on Tuesday with a classic fudge as a compromise deal that significantly waters down [..]

Market Comment – Fears grow about virus surge but stimulus hopes put a lid on risk-off

Posted on July 17, 2020 at 8:41 am GMT

US daily virus tally tops 77,000; escalation in Australia and Japan also worries investors Stocks tread water but stimulus and vaccine hopes keep bull market alive Euro on the backfoot ahead of EU stimulus decision No letup in new virus cases yet A continued surge in the number of new coronavirus cases being reported in hotspots around the world has taken the steam out of the risk rally this week, with not even robust data out of China and the [..]

Daily Market Comment – Dollar edges up, stocks slip as recovery doubts set in

Posted on July 16, 2020 at 8:51 am GMT

China’s GDP bounces back but signs of uneven recovery dampen sentiment White House’s tough line on China also a drag on risk assets Euro softer ahead of ECB; Stocks eye US earnings and retail sales for direction China returns to growth but weak spending worries markets As far as V-shaped recoveries go, China’s economic recuperation from the coronavirus couldn’t look more V-shaped. Gross domestic product (GDP) jumped by 11.5% over the quarter to June after collapsing by almost 10% in [..]

Daily Market Comment – Euro surges, stocks bounce back amid fresh vaccine hopes

Posted on July 15, 2020 at 8:33 am GMT

Vaccine hopes boost risk assets; Wall Street selloff is over before it even began Euro and aussie charge ahead; pound and loonie try to catch up Oil holds its nerve as OPEC+ set to ease production cuts Mixed earnings overshadowed by promising vaccine results Global equities were back in bullish mode on Wednesday after a brief wobble earlier in the week had some investors worried that this could be the start of a long overdue correction in the markets. However, [..]

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 [..]

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