The Coronavirus keeps spreading, weakening Aussie despite the upbeat jobs numbers as markets take a less risky approach to the heightening threat.
Technicals indicate that Aussie and Euro move hand to hand, with the former falling following a ‘holding’ ECB! Now both are corrective and at a trendline low!
Pound, on the other hand, does relatively well as rate cut...
The USDCAD triangle pattern seems to be taking its final form, suggesting a marginal upside move before continuing longer to support the longer-term trend.
A successful test near the price/trendline intersection could offer a nice risk/reward medium-term opportunity.
Head of Investment Research
This analysis is provided as...
Markets remained somewhat muted at the start of the impeachment trial despite Trump’s talk at Davos as concerns around the deadly coronavirus mounted. It’s going to affect Asian economies for sure due to weakening consumer spending unless if it will be contained asap, and perhaps the emerging markets too.
In Europe, German and UK macros were seen increasing risk...
The US and China signed a partial deal yesterday, putting a temporary stop to global uncertainty! Without that being the end of the trade war, at least we can now wait and see if China respects the signed terms over the next few months...
Are emerging markets affected by the fresh rhetoric since China is supported, or should we just focus on monetary policy,...
Gold’s recent muted performance has been owed to missing trade deal details!
With the text likely to surface some time today or overnight following the official sign-off, market participants will see exactly what’s been agreed and whether this makes a good case for a buy or a sell.
Oil’s decline, however, has been owed to inventories build! Will the EIA save...
USDMXN is currently correcting towards the golden Fibonacci retracement of the last impulse wave to the downside. This follows the completion of corrective minor wave 4.
It could be then followed by a final 5th impulse leg in the minor degree, eying the 100% Fibonacci extension of waves 1 and 2, near 18.34.
With US-Iran de-escalation traders shift their focus on Brexit talks and safe-haven outflows!
The new EC President threw doubt into a free-trade agreement in her visit in the UK to initiate talks. And this could have a reversal effect on the uncertainty we saw removed over the past few weeks.
Watch me analyze GBPNZD and CADJPY for further technical insights...
Iran will most likely retaliate and perhaps the first move will involve the disruption of oil shipments through the State of Hormuz.
But, what will China say to that, given nearly 50% of its imported oil comes from the Gulf region?
For now, risk is scaling back and that’s obvious from yen outflows. Watch how the euro and dollar could perform over the next few...
The FX majors stretched into 2020 firm, spelling a strong term against a weaker #dollar!
Will this continue being the case though when uncertainty around #tradewar and #Brexit remain elevated?
Take a peek at our #elliottwave analysis for some technical insight at least.
EURUSD 1H 01:45
USDJPY 1H 03:30
GBPUSD 1H 05:50
Equities and the US Index hit the levels we expected last week, however, participants remain encouraged on “phase one” and Brexit conclusions.
Will the rally keep on in 2020 or have investors really misplaced the recent concessions?
The risk of deteriorating relations remains elevated in our opinion!
DXY 4H 00:20
SPX 4H 02:45
China announced they will be lowering tariffs on a number of items come January 1st, making markets looking more festive ahead of Christmas!
Aussie and Kiwi took the headlines with a positive tone, however, Cable kept entering lower territories on the back on post-election no-deal fears! Will the Santa rally continue?
Have a look at our Elliott Wave analysis...
In today’s market insights I will talk about the cautious market reaction to the US-China trade deal announcement and what to look for in this week’s volatile session!
Yes, I am still expecting markets to move considerably despite the festive season approaching.
I analyze the leading NASDAQ and the US index and explain why I expect equities to continue...
In today’s market insights I talk about Trump’s latest tactical move to intimidate China into a partial deal!
With China having retaliated for the HK bills and manufacturing data confirming that the trade spat is now weighing on on the US economy, risk appetite returns with the Tariff Man!
Will tariffs against Brazil and Argentina push China in the corner, or...
In today’s market insights I talk about how the latest trade war and API developments affected the prices of gold and oil.
Gold appreciated while trade optimism increased! That was owed to poor US data, however! But I do expect the upside to be limited!
Crude, although supported by positive trade ware narratives, ended the session muted as bullish flows were...
In today’s market insights video recording I talk about the pound rally and how the cable is likely to perform now that polls show a comfortable Tory lead!
I also explain why #Aussie isn’t moving higher while risk-on mood increases high-beta bets amid the latest #tradewar headlines that a deal is indeed possible before Christmas! What are markets waiting for?...
EURAUD could move higher to complete minor wave 2 above 1.6800 levels. Before continuing higher, it is necessary to complete the minute correction that started at 1.6800 top.
With a low at 1.618% FE at 1.5900 round level, which is also a double bottom level, the correction could have either ended as a single zigzag or has another bearish leg down between...