Tue, Sep 22, 2020 @ 13:50 GMT
DOW opens sharply lower and it's trading down nearly -900 pts at the time of writing. The strong break of 55 day EMA (now at 27340), and bearish divergence condition in daily MACD, suggests that 29199.35 is at least...
Gold breaks out of triangle pattern today and hits as low as 1890.17 so far. The development suggests that corrective pattern from 2075.18 is starting another falling leg for 1862.55 support first. Break there will target 61.8% retracement of...
GBP/USD has started the week with considerable losses. In Monday’s European session, the pair is trading at 1.2830, down 0.68%. Brexit tensions could weigh on pound It has been a wild ride for the British pound. GBP/USD reversed directions last week...
Risk aversion builds up momentum in European session and carries forward to the US, with DOW opening down more than -400 pts. New Zealand and Australian Dollars are trading broadly lower, while Sterling is also among the weakest on...
ECB President Christine Lagarde said in a speech the central bank's pandemic response measures has stabilized the markets, protected the supply of credit and support the recovery. That should in turn support the return of inflation towards target. But at...
AUDUSD is tackling the lower Bollinger band coupled with the 200-period simple moving average (SMA), after recently dipping below the 50- and 100-period SMAs. The price seems temporary stalled between the boundaries of 0.7246 and 0.7344, though sustaining a...
Stocks selloff, Oil slumps as Libyan production returns, Gold down on strong dollar, LATAM in focus Global stock markets are tumbling as coronavirus cases surge in Europe, political tensions in the US will likely derail any further fiscal support efforts,...
According to the Bundesbank's monthly report, German economy is "gradually recovery from the severe slump as a result of the coronavirus pandemic". After the massive decline in GDP in springs experts expect a "strong countermovement" in Q3. But both...
The cross accelerates lower (down 0.95% since opening in Asia) as worsening conditions with Covid-19 and signs that UK government considers second lockdown, slashed risk appetite on Monday and boosted demand for safe-haven yen. Fresh fall emerged below the base...
USDJPY has pierced below the vital 104.18 trough after the price plunged underneath its simple moving averages (SMAs), breaking the constraints of a short-term sideways market. The diving Ichimoku lines now maintain a strong bearish tone while the falling...
China Equities climb after Tiktok decision Wall Street sagged on Friday, with the S&P 500 falling 1.07%, the Nasdaq falling 1.07%, and the Dow Jones easing 0.90%. However, the presidential decision on TikTok over the weekend has seen US futures...
Sterling tumbles broadly today on concern that UK is returning to coronavirus lockdown. Chris Whitty, the government's chief medical officer, is expected to warn at a briefing, "the trend in the UK is heading in the wrong direction and...
EURUSD opened with a soft positive tone on Monday, refusing to abandon the ascending channel that directed the price to a fresh 17-month high of 1.2009 earlier this month. The rebound near the 50-day simple moving average (SMA) and the...
Gold prices have been underperforming in the past month, hovering around the 20- and 40-day simple moving averages (SMAs) and slightly above the Ichimoku cloud. When looking at the bigger picture the price has a clear upside tendency despite the...
Asia looks set to go back to the futures again this morning, in this case, the US stock index futures, to offset a negative finish by Wall Street on Friday night. Yet again, the S&P 500 e-mini, Nasdaq and...
The University of Michigan's Consumer Sentiment Index spiked to 78.9 on month in the September preliminary reading (75.0 expected), from 74.1 in the August final reading. From a technical point of view, on a daily chart, EUR/USD remains supported by...
Equity markets kicked off Monday on the back foot following three weeks of consecutive declines in US stocks, which marked the longest weekly losing streak since 2019. Investors are becoming increasingly worried about the momentum in the economic recovery...
The markets are rather quiet in Asian session with Japan on holiday. Some selloff is seen in Hong Kong stocks but others simply ignored. The forex markets are generally stuck inside Friday's range, with Dollar and Swiss Franc trading...
China's PBoC kept its benchmark lending rates unchanged for the fifth consecutive month today. The one-year Loan Prime Rate was held at 3.85%. Five-year LPR was kept at 4.65%. That was basically in line with market expectations. Recent economic data...
After a big move in August, the RBNZ will likely leave the OCR unchanged at 0.25% and the cap of Large Scale Asset Purchase (LSAP) unchanged at NZD 100B. It is, however, expected to offer more indication on the...
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