The Euro may be preparing to turn lower against the US Dollar after producing a bearish candlestick pattern on a test of 13-month downtrend resistance.
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Sunday, 3 February 2019
Asia Stocks at Risk as S&P 500 Trims Gains on Solid US Jobs Data
The S&P 500 fell behind the US Dollar after a solid jobs report, highlighting the risks Wall Street faces. Asia stocks may fall as sentiment sours, ASX 200 upside momentum fading.
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Weekly Technical Forecast: Whether The Dows Trend or Dollar Range, Conviction Looks Wanting
Risk-leaning assets enjoyed a strong charge through this past week. Global indices, commodities and emerging market assets were all buoyed by a welcome return of capital to the weathered capital markets. Yet, momentum through this reversal has proven uneven and the high points of speculative appetite in the FX market have not followed in pursuit. Are our current bearings destined to change?
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Weekly Fundamental Forecast: Markets Look for Footholds to Keep Stocks, Oil Rising and Dollar Steady
As we transition into the first trading week of February, we leave behind the most optimistic January in over 30 years punctuated by a dovish Fed, end of a US government shutdown and a thawing in trade wars. Yet, aside from averting deeper fundamental threats, there has been little tangible improvements across the global markets. Will speculative enthusiasm overlook this deficit?
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Technical Outlook: S&P 500, FTSE 100, FTSE MIB
S&P 500 breaches trendline as Fed caves, FTSE 100 hovers above pivotal 7000 level ahead of BoE, FTSE MIB rejects key resistance.
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Dow Jones Winds Down Earnings Season, FTSE 100 Awaits BOE
The US stock markets will begin to wind down earnings season this week with notable reports from Google and BP still to come. The FTSE will look to the Bank of England.
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Saturday, 2 February 2019
EUR/USD Weekly Technical Forecast: Euro Levels to Watch High & Low
The Euro has been a difficult handle with volatility low, and it’s not likely to get much easier in the days ahead with levels on both sides, especially on the top-side.
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Euro Forecast: Quieter Economic Calendar Pushes Euro to Background
There are no ‘high’ rated events due out in the days ahead for the Euro, meaning external factors like Brexit and the US-China trade war negotiations will dominate price action.
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Gold Weekly Technical Outlook: Rally Eyes Resistance at 8-Month Highs
Gold rallied to eight-month highs on the back of the FOMC with price now testing Fibonacci resistance. Here are the levels that matter on the XAU/USD weekly chart.
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Gold Looks to Catch Breath After Prices Rally
Gold prices surge in response to a dovish Fed as a weak USD combined with safe-haven demand helped the commodity continue its upside breakout.
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Dollar Avoids Critical Breakdown, But for How Long?
The Dollar extended its tumble this past week helped along by the Fed’s dovish tone. Yet when it was time to establish conviction, bears couldn’t break 8-month channel support and the 200-day moving average. We are likely to see further attempts.
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US Dollar May Rise on Haven Demand as Market Sentiment Sours
The US Dollar may trade broadly higher in the week ahead as a dour turn in market sentiment stokes haven-seeking demand for the benchmark currency.
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Stock Market Fund Flows Reveal Record Intraday Outflow
The month of January saw the S&P 500 gain nearly 8% despite significant outflows from three of the largest index-tracking exchange traded funds.
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Sterling (GBP)Weekly Technical Outlook: Charts Levels Remain Intact
Sterling has moved lower over the week against EURGBP and GBPUSD after last week’s overbought conditions but both pairs have yet to challenge annulment levels.
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GBP Fundamental Forecast: Sterling Stable After Retrace
A disappointing week for Sterling bulls as positive sentiment started to wane after the EU refused to consider reopening the discussion on the Irish backstop.
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Crude Oil Forecast: Sharp Rebound Meets Inflection Point
Internal buying pressure is back in the crude oil market when looking at futures spreads, geopolitical tensions leading to supply constraints, or a stronger US earnings seasons all showing demand may be better than feared.
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Crude Oil Prices Risk Larger Recovery on Stagnant Non-OPEC Supply
Crude oil prices may continue to catch a bid as the OPEC and its allies remain committed in rebalancing the energy market.
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Friday, 1 February 2019
Will Dollar, S&P 500 Set Trends from Progress in Fed Policy, Earnings, Trade War?
Risk assets have extended their recovery with the S&P 500 leading the way with its biggest six-week climb since August 2008. Is there enough fundamental lift to sustain this run or for the Dollar to keep beating back a bearish break?
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New Zealand Dollar Weekly Technical Forecast: NZDUSD Rally May Stall at Resistance, NZDCAD to Test Support
NZDUSD may stall at near-term resistance as the fundamental tailwinds that spurred the rally fade. The pair now rests between key technical levels.
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Canadian Dollar May Be Torn Between Upbeat Local and US Econ Data
The Canadian Dollar rose as a relatively dovish Fed boosted sentiment and crude oil prices. Focus shifts to local and US economic data next week. S&P 500 may struggle to keep rising.
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