Weekly Economic and Financial Commentary: A Tough Week
U.S. Review
A Tough Week
The COVID-19 coronavirus hammered financial markets this week and rapidly raised the perceived likelihood and magnitude of additional Fed accommodation.
...
Forward Guidance: Coronavirus Risks in Focus with BoC Set to Cut Rates
Backward looking economic indicators – including US and Canadian employment reports for January over the next week – will probably continue to take a...
The Weekly Bottom Line: Rate Cut Odds Surge As Covid-19 Spreads
U.S. Highlights
Fears about the widening spread of Covid-19 lead to the worst week for equity markets since 2008. The 10-Year Treasury yield continued...
Weekly Recap/Week Ahead: What Just Happened?
I don’t even know where to start:
The coronavirus has spread outside of China
More and more companies are lowering guidance for Q1
Economists...
Weekly Economic and Financial Commentary: A Tough Week
U.S. Review
A Tough Week
The COVID-19 coronavirus hammered financial markets this week and rapidly raised the perceived likelihood and magnitude of additional Fed accommodation.
...
Fundamental Analysis
Forward Guidance: Coronavirus Risks in Focus with BoC Set to Cut Rates
Backward looking economic indicators – including US and Canadian employment reports for January over the next week – will probably continue to take a...
Fundamental Analysis
The Weekly Bottom Line: Rate Cut Odds Surge As Covid-19 Spreads
U.S. Highlights
Fears about the widening spread of Covid-19 lead to the worst week for equity markets since 2008. The 10-Year Treasury yield continued...
Fundamental Analysis
Weekly Recap/Week Ahead: What Just Happened?
I don’t even know where to start:
The coronavirus has spread outside of China
More and more companies are lowering guidance for Q1
Economists...
Technical Analysis
NZD/USD Bulls are Salivating
Earlier today, New Zealand was the latest to fall victim to the coronavirus. A woman in her 60s who traveled from Iran to Auckland...
Fundamental Analysis
The Week Ahead – Central Banks, OPEC + and Governments Prepare to Cushion the Coronavirus Impact
Fears of coronavirus pandemic spreading delivered a global equity rout that took all the major indexes into correction territory with some seeming poised to...
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RBA on Hold in March; April Cut on Track. FOMC to Move First Cut to March from June
The Reserve Bank Board will meet on March 3 next week. It will be Super Tuesday in the US but there will be no...
Eurozone – Implications of Coronavirus
Executive Summary
The Eurozone economy was already at risk amid the coronavirus due to its trade exposure to China, but the latest outbreak in...
COVID-19: How Would Fed Easing Help?
Financial markets have been thrown into a tailspin in recent days on news that the COVID-19 outbreak is spreading beyond China. Market participants fear...
Gauging Canadian Coronavirus Supply Chain Vulnerabilities
The novel coronavirus, COVID-19, continues to spread, heightening concerns about the impact on global supply chains that have become significantly more integrated in recent...
Weekly Economic and Financial Commentary: A Tough Week
U.S. Review
A Tough Week
The COVID-19 coronavirus hammered financial markets this week and rapidly raised the perceived likelihood and magnitude of additional Fed accommodation.
...
Forward Guidance: Coronavirus Risks in Focus with BoC Set to Cut Rates
Backward looking economic indicators – including US and Canadian employment reports for January over the next week – will probably continue to take a...
The Weekly Bottom Line: Rate Cut Odds Surge As Covid-19 Spreads
U.S. Highlights
Fears about the widening spread of Covid-19 lead to the worst week for equity markets since 2008. The 10-Year Treasury yield continued...
Weekly Recap/Week Ahead: What Just Happened?
I don’t even know where to start:
The coronavirus has spread outside of China
More and more companies are lowering guidance for Q1
Economists...
NZD/USD Bulls are Salivating
Earlier today, New Zealand was the latest to fall victim to the coronavirus. A woman in her 60s who traveled from Iran to Auckland...
The Week Ahead – Central Banks, OPEC + and Governments Prepare to Cushion the Coronavirus Impact
Fears of coronavirus pandemic spreading delivered a global equity rout that took all the major indexes into correction territory with some seeming poised to...
ISM PMIs Could Upset Dollar if Virus Impact Confirmed
The deterioration in the US preliminary IHS Markit PMI survey in February was partially attributed to the coronavirus outbreak and markets are now turning their attention...
Week Ahead – RBA and BoC Meet: No Virus Stimulus Yet; US Jobs Report also in Focus
Central banks in Australia and Canada will hold policy meetings next week – the first since the outbreak of the coronavirus escalated into a...
RBA on Hold in March; April Cut on Track. FOMC to Move First Cut to March from June
The Reserve Bank Board will meet on March 3 next week. It will be Super Tuesday in the US but there will be no...
Weekly Focus – Coronavirus Crisis – The Fear Factor Hits Europe
Just as the dust began to settle and the coronavirus outbreak in China slowly came under control, a marked increase in new infections outside...
Weekly Economic and Financial Commentary: A Tough Week
U.S. Review
A Tough Week
The COVID-19 coronavirus hammered financial markets this week and rapidly raised the perceived likelihood and magnitude of additional Fed accommodation.
...
The Week Ahead – Central Banks, OPEC + and Governments Prepare to Cushion the Coronavirus Impact
Fears of coronavirus pandemic spreading delivered a global equity rout that took all the major indexes into correction territory with some seeming poised to...
Weekly Focus – Coronavirus Crisis – The Fear Factor Hits Europe
Just as the dust began to settle and the coronavirus outbreak in China slowly came under control, a marked increase in new infections outside...
Sunset Market Commentary
Markets
Never catch the falling knife, qed. Risk-off trades simply continued across markets today. Financial markets are pricing a scenario where the coronavirus pushes a...
EUR/USD Touched 1.1050
On Thursday, the EUR/USD currency pair skyrocketed to the 1.1000 level. During today's morning, the pair jumped to the 1.1050 mark.
From the one hand,...
EURUSD 1.1060 Target
The euro is building on yesterday’s gains against the US dollar, with the pair now starting to advance above the 1.1000 resistance level. The...
USD Weakens On Increased Rate Cut Bets…
USD tumbled against the EUR and JPY yesterday as investors have increased their bets for a possible rate cut by the Fed, due to...
Race To The Bottom
Then all hell broke loose.
After equities in London and Frankfurt slid past 3%, Wall Street crashed 4.42% and Nasdaq plummeted 4.61%.
WTI crude tanked to...
EUR/USD Bulls Steamroll Over 1.0950 Zone
The EUR/USD made a close and reverse. The confirmation of the bullish reversal took place after price action was able to break above the...
EUR/JPY Breakout Occurs
The common European currency appreciated by 101 basis points or 0.84% in value against the Japanese Yen on Thursday. The currency pair tested the...
Weekly Recap/Week Ahead: What Just Happened?
I don’t even know where to start:
The coronavirus has spread outside of China
More and more companies are lowering guidance for Q1
Economists...
The Week Ahead – Central Banks, OPEC + and Governments Prepare to Cushion the Coronavirus Impact
Fears of coronavirus pandemic spreading delivered a global equity rout that took all the major indexes into correction territory with some seeming poised to...
ISM PMIs Could Upset Dollar if Virus Impact Confirmed
The deterioration in the US preliminary IHS Markit PMI survey in February was partially attributed to the coronavirus outbreak and markets are now turning their attention...
Week Ahead – RBA and BoC Meet: No Virus Stimulus Yet; US Jobs Report also in Focus
Central banks in Australia and Canada will hold policy meetings next week – the first since the outbreak of the coronavirus escalated into a...
USD/JPY Dropped Below 109.90
On Thursday, the USD/JPY currency pair dropped to the 109.00 level. During today's morning, the pair was testing the support formed by the weekly...
USDJPY Approaching 108.40
The US dollar is tumbling lower against the Japanese yen, as financial markets go into full risk-off trading move during the European session. A...
CHF/JPY 4H Chart: Decline Likely To Continue
The Swiss Franc appreciated by 2.31% in value against the Japanese Yen during last week's trading sessions. The currency pair tested the monthly resistance...
EUR/JPY Breakout Occurs
The common European currency appreciated by 101 basis points or 0.84% in value against the Japanese Yen on Thursday. The currency pair tested the...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.08823
Open: 1.10002
% chg. over the last day: +1.06
Day's range: 1.09823 – 1.10081
52 wk range:...
Euro And Yen Smile As Wall Street Bloodbath Accelerates
Global stocks fall apart amid growing fears of a virus-induced recession
Yen and euro shine amid the mayhem, dollar and commodity currencies get...
The Week Ahead – Central Banks, OPEC + and Governments Prepare to Cushion the Coronavirus Impact
Fears of coronavirus pandemic spreading delivered a global equity rout that took all the major indexes into correction territory with some seeming poised to...
Week Ahead – RBA and BoC Meet: No Virus Stimulus Yet; US Jobs Report also in Focus
Central banks in Australia and Canada will hold policy meetings next week – the first since the outbreak of the coronavirus escalated into a...
Weekly Focus – Coronavirus Crisis – The Fear Factor Hits Europe
Just as the dust began to settle and the coronavirus outbreak in China slowly came under control, a marked increase in new infections outside...
GBP/USD Declined To Weekly S1
Yesterday, the GBP/USD exchange rate tried to surpass the weekly S1 at 1.2858. During Friday morning, the rate tested the Fibo 38.20% at 1.2918.
Note...
A Sea Of Red
A sea of red
European markets opened with a heavy weight on their collective shoulders Friday after the Dow Jones Index lost 4.4%, building up...
Race To The Bottom
Then all hell broke loose.
After equities in London and Frankfurt slid past 3%, Wall Street crashed 4.42% and Nasdaq plummeted 4.61%.
WTI crude tanked to...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.08823
Open: 1.10002
% chg. over the last day: +1.06
Day's range: 1.09823 – 1.10081
52 wk range:...
GBP/CAD Getting Ready For A New Wave Up As The Inverted Head And Shoulders Appears
The GBP/CAD is slowly getting bullish. At this point we can see that the trend line is broken after the Inverted Head and Shoulders...
GBP/USD Turning Down
Pivot (invalidation): 1.2900
Our preference Short positions below 1.2900 with targets at 1.2860 & 1.2840 in extension.
Alternative scenario Above 1.2900 look for further upside with...
Currencies: EUR/USD Caps 1.09 And Is Flirting With 1.10
Rates: Hemorrhage on markets
Financial markets are pricing a scenario where the coronavirus pushes a late cycle economy in a global recession. This week’s...
CAD/CHF 4H Chart: Bearish Sentiment To Continue
Since February 20, the Canadian Dollar has declined by 3.12% in value against the Swiss Franc. The currency pair tested the lower boundary of...
CHF/JPY 4H Chart: Decline Likely To Continue
The Swiss Franc appreciated by 2.31% in value against the Japanese Yen during last week's trading sessions. The currency pair tested the monthly resistance...
USDCHF Flirts With 16-Month Low Again, Creates Range In Short-Term
USDCHF remains under pressure and the risk is to the downside as prices continue to drift lower from the 38.2% Fibonacci retracement level of...
USD/CHF Under Pressure
Pivot (invalidation): 0.9710
Our preference Short positions below 0.9710 with targets at 0.9670 & 0.9650 in extension.
Alternative scenario Above 0.9710 look for further upside with...
Swiss Franc Extends Losses In The Asian Session
For the 24 hours to 23:00 GMT, the USD rose 0.46% against the CHF and closed at 0.9682.
In the Asian session, at GMT0400, the...
Eurozone – Implications of Coronavirus
Executive Summary
The Eurozone economy was already at risk amid the coronavirus due to its trade exposure to China, but the latest outbreak in...
USD/CHF 0.9705 Expected
Pivot (invalidation): 0.9760
Our preference Short positions below 0.9760 with targets at 0.9725 & 0.9705 in extension.
Alternative scenario Above 0.9760 look for further upside with...
Swiss Franc Trading Higher This Morning
For the 24 hours to 23:00 GMT, the USD rose 1.33% against the CHF and closed at 0.9766.
On the data front, Switzerland’s ZEW survey...
USD/CHF Testing Key Supports Ahead Of US GDP
Key Highlights
USD/CHF started a downside correction from the 0.9848 swing high.
There was a break below a key bullish trend line with support...
USD/CHF Turning Up
Pivot (invalidation): 0.9750
Our preference Long positions above 0.9750 with targets at 0.9790 & 0.9805 in extension.
Alternative scenario Below 0.9750 look for further downside with...
Weekly Economic and Financial Commentary: A Tough Week
U.S. Review
A Tough Week
The COVID-19 coronavirus hammered financial markets this week and rapidly raised the perceived likelihood and magnitude of additional Fed accommodation.
...
Forward Guidance: Coronavirus Risks in Focus with BoC Set to Cut Rates
Backward looking economic indicators – including US and Canadian employment reports for January over the next week – will probably continue to take a...
The Weekly Bottom Line: Rate Cut Odds Surge As Covid-19 Spreads
U.S. Highlights
Fears about the widening spread of Covid-19 lead to the worst week for equity markets since 2008. The 10-Year Treasury yield continued...
Week Ahead – RBA and BoC Meet: No Virus Stimulus Yet; US Jobs Report also in Focus
Central banks in Australia and Canada will hold policy meetings next week – the first since the outbreak of the coronavirus escalated into a...
Sunset Market Commentary
Markets
Never catch the falling knife, qed. Risk-off trades simply continued across markets today. Financial markets are pricing a scenario where the coronavirus pushes a...
A Soft End to 2019 for the Canadian Economy
The Canadian economy hit a virtual standstill at the close of 2019 as real GDP eked out a 0.3% annualized gain in the...
Canadian Economy Ended 2019 on Soft Note
Q4/2019 GDP growth slowed to 0.3%
'Transitory' factors explain some but not all of the slowing
Early 2020 also likely to be soft,...
USD Weakens On Increased Rate Cut Bets…
USD tumbled against the EUR and JPY yesterday as investors have increased their bets for a possible rate cut by the Fed, due to...
CAD/CHF 4H Chart: Bearish Sentiment To Continue
Since February 20, the Canadian Dollar has declined by 3.12% in value against the Swiss Franc. The currency pair tested the lower boundary of...
USD/CAD Bullish Sentiment
Bullish momentum has pressured the US Dollar higher against the Canadian Dollar since Thursday's trading session. The currency pair has surged by 139 basis...
Weekly Recap/Week Ahead: What Just Happened?
I don’t even know where to start:
The coronavirus has spread outside of China
More and more companies are lowering guidance for Q1
Economists...
The Week Ahead – Central Banks, OPEC + and Governments Prepare to Cushion the Coronavirus Impact
Fears of coronavirus pandemic spreading delivered a global equity rout that took all the major indexes into correction territory with some seeming poised to...
Week Ahead – RBA and BoC Meet: No Virus Stimulus Yet; US Jobs Report also in Focus
Central banks in Australia and Canada will hold policy meetings next week – the first since the outbreak of the coronavirus escalated into a...
RBA on Hold in March; April Cut on Track. FOMC to Move First Cut to March from June
The Reserve Bank Board will meet on March 3 next week. It will be Super Tuesday in the US but there will be no...
AUD/USD Bearish Momentum To Continue
Downside risks have been dominating the Australian Dollar against the US Dollar since yesterday's trading session. The currency pair has declined by 75 pips...
AUD/USD 0.6500 Expected
Pivot (invalidation): 0.6560
Our preference Short positions below 0.6560 with targets at 0.6525 & 0.6500 in extension.
Alternative scenario Above 0.6560 look for further upside with...
Aussie Trading On A Weaker Footing This Morning
For the 24 hours to 23:00 GMT, the AUD declined 4.74% against the USD and closed at 0.6577.
LME Copper prices rose 0.1% or $4.0/MT...
Market Morning Briefing: EURJPY Is Trading Below 120
STOCKS
The expected bounce in the Dow from 27000 has not happened and the index has tumbled beyond 26000. This has opened doors for a...
Cliff Notes: COVID-19’s Spread Sees Risks to Outlook Grow
Key insights from the week that was.
As COVID-19 uncertainty gripped markets this week, two key GDP partials were released in Australia.
A disappointing read on...
AUD/USD Breakout Could Occur
The Australian Dollar declined by 60 basis points or 0.91% in value against the US Dollar. The currency pair breached a support cluster formed...
NZD/USD Bulls are Salivating
Earlier today, New Zealand was the latest to fall victim to the coronavirus. A woman in her 60s who traveled from Iran to Auckland...
NZD/USD Sell Signals
Downside risks have pressured the New Zealand Dollar lower against the US Dollar since yesterday's trading session. A breakout occurred through the lower boundary...
NZDUSD Rebounds On 4-Month Low, Bullish Correction In Very Short Term
NZDUSD is in an upside pull back mode following the fall to the four-month low of 0.6280. Over the last two months, the pair...
NZD/USD Target At 0.6353
The New Zealand Dollar depreciated by 34 basis points or 0.54% in value against the US Dollar on Wednesday. The currency pair tested the...
Wall Street Set To Decline As Coronavirus Spreads In the US
American stocks are set to decline after the CDC confirmed coronavirus transmission in the US. The Dow and Nasdaq futures declined by 325 and...
NZD/CAD 4H Chart: Pressured By 50– Period SMA
The New Zealand Dollar has continued to edge lower against the Canadian Dollar. The NZD/CAD currency pair has declined by 2.93% in value since...
NZD/JPY 4H Chart: Breakout Occurs
Downside risks have continued to pressure the New Zealand Dollar lower against the Japanese Yen. A breakout occurred through the lower boundary of an...
NZD/USD Pressured By Smas
The New Zealand Dollar has declined by 52 pips or 0.81% in value against the US Dollar since yesterday's trading session. The currency pair...
NZDJPY Set for More Losses Below Range-Bottom
NZDJPY is testing the bottom of the 71.22-69.90 range, which is likely to collapse as the RSI has restored negative momentum in the bearish...
NZD/USD Could Go Upwards
The New Zealand Dollar has continued to edge up against the US Dollar. The currency pair appreciated by 53 basis points or 0.84% in...
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