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Wall Street soars after dovish testimony by Fed Chair
- July 11, 2019
- Posted by: range
- Category: EXPERT OPINION, MARKET RESEARCH, Technical Analysis
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Wall Street ended the day at an all-time high as Jerome Powell testified to Congress. In his testimony, the Chair said that the Fed was fully prepared to slash interest rates based on mounting risks to the US economic outlook. Despite excellent jobs numbers released on Friday, Powell said that uncertainties about the outlook have
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Aussie falls sharply after weak Chinese industrial and retail data
- May 15, 2019
- Posted by: range
- Category: EXPERT OPINION, FOREX, Technical Analysis
US stocks rose yesterday after a few weeks of turmoil. The gains were broad-based, but technology played an important role in the recovery. The Nasdaq index rose by more than 100 points while the Dow gained by more than 200. These gains continued in Asia this morning. In China, the Shanghai and A50 indices rose
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Aussie jumps after hawkish RBA statement
- May 7, 2019
- Posted by: range
- Category: EXPERT OPINION, FOREX, MARKET RESEARCH, Technical Analysis
Yesterday, US stocks made a comeback after seeing large losses earlier in the day. The Dow ended the day down by 67 points, which was better than the 500-point loss earlier on. The recovery came as investors concluded that a US trade deal with China was still on the table. This is because Donald Trump
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Asian stocks decline after weak China PMI data
- April 30, 2019
- Posted by: range
- Category: EXPERT OPINION, FOREX
Asian stocks declined as traders start to worry about China’s growth. This is after the country released weak PMI data for April. During the month, the Markit manufacturing PMI declined to 50.1 from the previous 50.5. Traders were expecting the PMI to rise to 50.7. Data released by Caixin showed that the manufacturing PMI declined
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Yen gains after BOJ rates decision
- April 25, 2019
- Posted by: range
- Category: EXPERT OPINION
The Canadian dollar declined after the central bank announced its interest rates decision. As expected, the bank left interest rates unchanged at the 1.75% level. This was the fourth straight month the bank has left rates unchanged. In the monetary policy statement, the bank said that it expected the global economy to pick up in
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Wall Street jumps after impressive start of earnings season
- April 13, 2019
- Posted by: range
- Category: EXPERT OPINION, FOREX, MARKET RESEARCH
The price of crude oil rose today after Chevron announced that it will acquire rival Anadarko for $33 billion. This is the biggest purchase in the oil and gas sector since oil prices started to decline in 2014. This deal will strengthen Chevron’s position in the Permian Basin of Texas and New Mexico. In the
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Crude reaches YTD high as progress is seen in US-China talks
- April 3, 2019
- Posted by: range
- Category: EXPERT OPINION, FOREX, Forex News, MARKET RESEARCH, Technical Analysis
The price of crude oil rose in overnight trading even after the American Petroleum Institute (API) data showed increased inventories in the United States. Both the West Texas Intermediate (WTI) and Brent reached their highest levels this year. The numbers showed that inventories rose by 2.96 million barrels, which was higher than last week’s 1.9
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Investors worry as global central banks continue to turn dovish
- March 27, 2019
- Posted by: range
- Category: EXPERT OPINION, FOREX, MARKET RESEARCH
The kiwi dropped sharply in overnight trading after the RBNZ released its third interest rates decision of the year. The bank left rates unchanged at 1.75%, which was expected. Officials also expressed increased worries about the health of the economy. In recent months, the economy of its leading exports markets of Australia and China have
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FX Strategy 19 Mar 19
- March 19, 2019
- Posted by: range
- Category: EXPERT OPINION, FOREX, MARKET RESEARCH, Technical Analysis
CHF and GBP are the top G10 FX gainers today, up 0.16% and 0.13% vs the dollar while AUD and USD are the top losers. The UK unemployment rate fell further unexpectedly (3.9% vs 4.0% expected) providing some support for the pound. That said, we still see short-term downside risk for Sterling as Brexit devlopments
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Asian stocks decline after Chinese exports fall
- March 8, 2019
- Posted by: range
- Category: EXPERT OPINION, MARKET RESEARCH, Technical Analysis
The euro remained lower in overnight trading after the ECB monetary policy decision. Yesterday, the bank released its decision, which was aimed at boosting the European economy. In the statement, the bank extended the period at which it will likely raise interest rates from the previously-guided ‘through summer’ to after December. In addition, the bank