The market is being “driven by sentiment” and is overvalued, warns one veteran strategist.
“The rally that has happened, it always happens after big crises, but going back to the beginning of time, we've never seen a bottom in a stock market within six months after a 30% sell-off leading into a rece
Addressing the Reuters Global Market Forum, noted fund managers and economists said that US Federal Reserve (Fed) is unlikely to steer the Fed fund rates into the negative territory, as reflected by the Fed fund rates futures by early 2021.
“The Fed isn’t in negative territory and has sai
In a statement, the Iraqi Oil Minister says that OPEC+ could take additional steps to absorb oil surplus.
Iraqi oil minister says Tuesday meeting with some opec+ members discussed the reasons and consequences of the falling oil prices in US markets.
More to come...
GBP/JPY remains on the back foot below near-term key resistance confluence.
The monthly low becomes the key.
An upside break of the resistance confluence can challenge the monthly top.
GBP/JPY declines to 128.00, down 0.16%, amid the initial Tokyo trading on Tuesday. In doing so, the pair extends i
EUR/USD slips to lowest since April 2017 during Friday's Asian session.
A bearish weekly close looks likely and could cause more sellers to join the market.
EUR/USD fell to 1.0653 a few minutes before press time, setting a new three-year low below Thursday's low of 1.0655.
At press time, the hour
Focus somewhat turns from stock markets to currencies today. Major global indices are staying in rather tight range today, based on recent volatility. Fiscal and monetary measures from major central banks and governments are providing little support to sentiments, as coronavirus pandemic continues t
AUD/USD bears catch a breath after consecutive seven days of declines.
Aussie PM announced further warnings, RBA infuses liquidity.
Fed’s salvo continues with a short-term credit line for primary dealers being the latest weapon.
S&P anticipates half Asia-Pacific growth during 2020, Aussie Retail
EUR/USD stalls corrective slide near 1.1085, as USD weakness persists.
DXY, Treasury yields dumped on surprise Fed rate cut to zero.
Next of relevance remains the G7 and EU coronavirus response.
EUR/USD is back on the 1.1100 level, defending minor gains amid a stalled rebound in the US dollar acr
GBP/JPY has been bearish for on the daily chart upon producing a triple top. The price consolidated, created a bearish reversal candle, and continued its bearish journey. Yesterday, the pair produced a bearish candle, which engulfed the day before yesterday's corrective bullish candle. Thus, the pai
Yen surges in Asian session as sentiments are knocked down hardly by US ban of European travellers. Global coronavirus cases jumped to 126,367 with 4633 deaths. Situation in Europe continue to worse, particular dire in Italy, cases in US also rose above 1,300. Nevertheless, new numbers in China, the
WTI recovers losses from the multi-year low.
December 2018 low, 38.2% Fibonacci retracement acts as short-term key resistance.
Fresh selling can print new low under $27.70.
Having marked a flash crash of more than 20%, WTI retraces to $32.37 during Tuesday’s Asian session.
While the recent recovery
Construction Purchasing Managers' survey data from Germany is due on Thursday, headlining a light day for the European economic news.
At 12.30 am ET, Dutch consumer price data for February is due. Inflation had eased to 1.8 percent in January from 2.7 percent in December.
At 3.30 am ET, IHS Markit i
The Australia and New Zealand Banking Group (ANZ) analysts believe “another rate cut in April seems more likely than not, even with fiscal support arriving soon. This will trigger a discussion about QE.”
“The RBA Board cut the cash rate 25bp to a record low of 0.5% at its March meeting.
US stocks staged a massive rebound overnight, with DOW closed up over 5%. But reactions in other markets are muted. Strength in Asian markets is very limited even though major indices are in black. Gold is gyrating in tight range around 1600 handle. WTI crude oil struggles to gain momentum above 48.
USD/JPY remains on the back foot.
Japan data suggest inflation continues to linger while the Unemployment Rate shot up recently, Retail Sales and Industrial Production mark improvements.
Geopolitical tension between Syria and Turkey joins coronavirus-led risk-off.
USD/JPY declines to 109.60, down 0