Tue, Sep 22, 2020 @ 13:26 GMT
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From lockdown to stimulus Lockdown panic is easing on Tuesday, with European stocks paring Monday’s sharp losses and Wall Street eyeing a flat open having been spared much of the previous days sell-off. While the initial panic may have passed, the...
The overall markets are relatively steady today. Dollar attempted for a brief rally in early European session. But it quickly retreated together with mild recovery in stocks. Though, there seems to be no committed buying in the equities market...
After months of very little on the Brexit front, Brexit fears have returned with a bang over the past few weeks. As the clock ticks down not just towards the end of the transition period on 31st December, but perhaps...
US dollar posts broad gains The US dollar staged an impressive rally overnight, notably versus the major currency grouping, as investors took fright at a number of negative factors sweeping markets. The dollar index rose 0.60% to 93.55, with a...
WTI crude oil futures had a strong selling interest over the previous, touching the 40-period simple moving average (SMA) and the Ichimoku cloud. The commodity found resistance at the 200-period SMA and the technical indicators are falling aggressively. The...
USDCAD is confronting the 1.3346 to 1.3360 resistance zone after the pair commenced actions to shift the short-term bias positive, by rocketing above the 200-period simple moving average (SMA) and the previous spikes that pierced above it, in the...
Ifo said Germany's recession was "rather mild compared with other countries". Spread of the coronavirus was brought under control with less restrictive measures. Industrial production was also less affected by government's measures. Still, GDP will not reach its pre-crisis...
In the MPC meeting minutes released last week, BoE indicated that it's looking at how it would implement negative interest rates effectively when necessary. But Governor Andrew Bailey said in an online talk today, "it doesn't imply anything about...
Cable accelerated lower in early Tuesday, extending Monday’s nearly 1% fall, with fresh weakness being sparked by remarks of BOE’s Governor Andrew Bailey. Bailey said that escalating Covid-19 cases increase downside risks for the economy, pointing to ‘hard yards’ to...
GBPUSD erased last week’s upward correction and slipped slightly into the 1.2700 region, charting a lower high around the 50-day simple moving average (SMA) in the short-term picture. The recent bearish move follows the creation of a lower low...
EURJPY has been tumbling over the last couple of days, posting a fresh two-month low of 122.51. The 20- and 40-day simple moving averages (SMAs) are creating a bearish crossover, while the momentum indicators are losing ground. The MACD...
About the only storm that doesn't appear to be getting stronger is Hurricane Beta, which made landfall in the United States as a tropical storm and not a hurricane. It still made its presence felt though, as the hurricane...
On Monday, spot gold marked a day-low near $1,883 before bouncing back to $1,912, still down 2.0%. Surprisingly, the plunge in U.S. stock markets failed to spur safe-haven demand for the precious metal. In fact, the correlation between the...
Asian markets are trading mildly lower today, following the weakness in US overnight. While DOW dropped more than -900 pts during the session, it managed to pare back half of the losses to close down -509.72 pts only. Following...
RBA Deputy Governor Guy Debelle outlined four possible options for monetary policy over the period ahead in a speech. The first option is for buying bonds further out along the curve. RBA has focused on three-year yield as target...
St Louis Fed President James Bullard said there's not much of an "imperative" about a new fiscal package now."It seems like, at least in some broad macroeconomic type of calculation, we have enough resources to cover this," he said...
Dallas Fed President Robert Kaplan said in a telephone interview that if Fed makes the pledge to keep rates near-zero into 2023, "you need to fulfill it, unless there's an extraordinary reason why you can't.... My worry was that...
In the remarks released ahead of Tuesday's testimony, Fed Chair Jerome Powell said "economic activity has picked up from its depressed second-quarter level:. Economic indicators showed "marked improvements" including household spending, housing, business fixed investment and labor. However, both...
Key Highlights GBP/USD failed to clear the 1.3000 resistance and declined below 1.2900. EUR/USD also struggled to continue above 1.1850 and declined sharply. Gold price is sliding and it could even break the $1,900 support zone. The US Existing...
Markets are in turmoil to start the trading week on fears of another COVID-19 lockdown in the UK and concerns about the prospects of more stimulus from the US with the focus shifting to the Supreme Court. While gold typically...
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