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Karen Jones, analyst at Commerzbank, suggests that GBP/USD’s rally has started to erode the 20 day ma at 1.2157 after last week the market based at 1.2015 and is correcting higher near term. Key Quotes “The market remains under pinned by the January 2017 low at 1.1988 (we have a 13 count on the daily
Philadelphia Fed non manufacturing general business activity 7.5 versus 21.4 last month Coming Up! Title text for next article Philadelphia Fed nonmanufacturing general business activity nonmanufacturing general business activity for the region 7.5 versus 21.4 last month nonmanufacturing general business activity for your firm 32.5 versus 24.6 last month (see chart above) new orders 9.4 versus
Karen Jones, analyst at Commerzbank, suggests that USD/CHF pair is upside corrective near term, after the market saw a key day reversal on Tuesday last week from .9659. Key Quotes “A sustained break below the .9716/.9692 key support was not seen (location of the 25th June low, the January low and Fibo support) and we
Asian equities mildly higher after a better performance by Wall St overnight Japanese stocks are among the better performers amid more flat risk sentiment on the day. Chinese equities are not really roaring despite talk of more policy support with the Shanghai Composite nearly unchanged on the session currently. Looking ahead, European stocks should mirror
AUD/JPY stays above 23.6% Fibonacci retracement while falling behind 10-day EMA. Bullish MACD pushes buyers to aim for 72.85/87 resistance-confluence. Despite clearing 23.6% Fibonacci retracement of July-August declines, AUD/JPY struggles to cross 10-day exponential moving average (EMA) while taking rounds to 72.13 on Tuesday’s early Asian session. A sustained break of 72.20 immediate resistance can
Deutsche Bank analysts see Germany in a technical recession, as they expect another ¼% GDP drop in Q3. Key Quotes “Our forecast for 2019 is now 0.3%. Given no indication for a rebound we lowered our 2020 forecast to 0.7%. We acknowledge these revisions do not properly account for the recent accumulation of risks.” “Given
Trump is right to fear the strong dollar, but he can’t stop it The bond market is flashing every kind of warning sign there is. Yet when you look at economic data it’s fine. Core US consumer spending in the first seven months of this year is the highest of any 7-month period in 30
GBP/JPY rises towards the key resistance-line, 4H 100MA. RSI divergence signal further upside. GBP/JPY remains on the road to recovery as it takes the bids to 129.25 amid initial Asian session on Monday. While short-term ascending trend-line portray the pair’s strength, 14-bar relative strength index (RSI) indicates further upside with gradually picking levels amid lower
What’s coming next for global markets [embedded content] Bonds are painting an ever-dour message on Fed policy, an end to globilsation and slower global growth. We look ahead to next week.  As I review in the ‘Event risk playbook’, the market will trade in anticipation of Friday’s Jackson Hole Symposium, and what will be and
Not clear where the tanker is headed A Gibraltar court released the Grace 1 tanker on Saturday and the ship is preparing for departure. The move came despite US objections and appeals. The US government issued a warrant to seize the ship, saying all oil aboard the ship is subject to forfeiture due to a