Elections 2020: US Dollar Soar Despite Biden’s Lead, Equities Rally
The US dollar traded in green as the election vote count begin and initial results show that former vice president Joe Biden is leading in electoral votes. Meanwhile, the incumbent president Donald Trump is leading in a few swing states.
DAX bullish candle for short term upside to 13000
Bullish candle reversal outside Bollinger band suggests we could see short term rise in price to 12850 for DAX. DAX – Moving the stop to break even would be a wise move once target 1 hit. Watching the SPX also for momentum push to support the DAX up…
US dollar Steady Despite Fading Stimulus Hopes, Equity and Gold Bounce Back
US dollar bounced back sharply as it's clear that no stimulus is possible ahead of the election. The deadlock between both parties’ enhanced investors focus on the safe-haven assets and dropped the confidence in risker assets including stocks and European currency.
WSA.ASX Closes Above Trendline Target $2.50
Nickel index quite strong last week increasing by 6% and potentially heading to test August highs. WSA.ASX has been supported at the 61.8% Fibonacci retracement and closed above a multi-month trend line with volume. Western Areas Limited (WSA.ASX) is an Australian based nickel sulphide explorer and producer with its core…
WEB.ASX Webjet breaking out of $4.00
Webjet (WEB.ASX) sitting inside the channel awaiting any type of Covid related vaccine news for possible expansion. Key levels broken at $4.00 with volume support now testing resistance at $4.20. A breakout could suggest $5.00 target at a minimum within the trend channel. Webjet bottomed out in April but failed…
Pound Plunges on Brexit Woes – US Trading Session
GBP/USD rises above 2% on the day amid Brexit tensions , despite a 0.6% increase in UK GDP Failure in stimulus talks has seen US and Asian stocks under pressure Euro in the spotlight amid concerning high valuation noted during the ECB press conference
Crude Oil Slips , DXY Gains, Gold Under Pressure – Ahead of European Trading Session
Asian markets open with continued weakness for a second consecutive session. Oil falls more than 1% on Saudi price cuts , but China imports remain strong. Chinese and US equity bourses in the red along with Japan's Nikkei index.
Markets Enter August With Risk Appetite – US Trading Session Update
The dollar index has staged a retracement , up +0.41%. This is likely a technical correction supplemented with positive manufacturing data after weeks of heavy selling. According to ING, the 94.50 level will be a difficult level for the index to clear.