KQMarkets

KQMarkets

We still hold a short view on the Dax despite limited price action as rising treasury yields despite central bank's dovish stance continue to put stocks under pressure. We see prices potentially dropping towards support at 13,000 as we await GSK consumer confidence and also key US data including durable goods orders tomorrow.

KQMarkets

We have changed our Gold view from long to neutral as the precious metal has moved below support at $1826 on the back of rising US Treasury yields. Therefore we will monitor whether prices continue their downward trajectory in the coming trading sessions and break through long term support at $1754.

KQMarkets

We have changed our Silver view from short to neutral as prices have consolidated above resistance at 26.6 on the back of the reddit short squeeze and potential increased industrial demand as covid vaccines are rolled out globally. This could explain why Silver has outperformed Gold in recently and the Gold Silver ratio moving considerably lower as we await Markit...

KQMarkets

Bitcoin has made new record highs today continuing it's strong upward momentum in particular since Tesla announced last week it invested $1.5 billion in Bitcoin and plans to accept cryptocurrency as payment. Now that the cryptocurrency has broken through the $50,000 psychological level we believe prices could challenge $100,000 at some stage this year whilst above...

KQMarkets

We have changed our long term short USDJPY view to neutral as the currency pair has strengthened in recent weeks despite anticipated US stimulus and the continued impact of the coronavirus. USDJPY has consolidated above support at 103.6 and appears to be one course to break through resistance above 105. We await Japan 4th quarter GDP growth later today and key US...

KQMarkets

We have changed our EURUSD view from long to neutral as the currency has consolidate below support at 1.2145. This is despite continued Dovish comments by the Fed a as the Eurozone economy is impacted by the pandemic and concerns grow surrounding vaccine delays in the Eurozone. Therefore we await key economic data releases next week including the Q4 GDP growth...

KQMarkets

AUDUSD has had limited price action in the past month despite Biden's 1.9 trillion and stimulus package and Powell's continued dovish tone as indicated in yesterday's press conference. However, whilst the currency pair remains above support at 0.754 we see upside potential towards the 0.8 psychological level. This is particularly because we expect the global...

KQMarkets

The Dax has lost it's upward momentum after having made all time highs on Monday as global equities rose due to Biden's proposed $1.9 trillion stimulus package. However, downside risks remain due to the continued impact of the pandemic on the global economy as US inflation came in at 1.4% vs 1.5% forecast. We await Powell's speech later today for any significant...

KQMarkets

Bitcoin has pulled back substantially in the past 24 hours after having failed to make new all time highs having risen above resistance around $40,000. However, we still feel that prices will move higher in the coming weeks given increased institutional interest in the cryptocurrency as well as the Gamestop saga potentially sparking renewed retail speculation.

KQMarkets

Gold has been trading sideways over the past few trading sessions but now appears to be gaining some upward momentum given last week's sell off in equities and increased volatility. Therefore we believe the precious metal could continue moving higher whilst it's above support at $1826 due to increased investor demand for safe haven assets given the current market...

KQMarkets

Silver have risen significantly today despite the US dollar strengthening over the past few trading session. This could be due to the recent sell off and increased volatility in equities as the precious metal is seen as a safe haven. However, we still see downside potential whilst prices remain below key resistance at $26.66 due to uncertainty surrounding the...

KQMarkets

The Bank of Japan gave few indications of any shift in monetary policy Thursday as we await the FED press conference on Wednesday. It is likely that there would be no major surprises from the FED on Friday as it continues it's dovish stance on monetary policy to boost the US economy in the face of the global pandemic. We therefore expect USDJPY to resume it's...

KQMarkets

EURUSD has regained it's upward momentum in recent trading sessions and consolidated above key support at 1.21450. We still see the currency pair moving higher above this level as we await key EUR and USD economic data releases next week including Q4 GDP growth releases. If economic data highlights that the US economy has been less impacted by the pandemic than...

KQMarkets

AUDUSD didn't exhibit much price action after the Australian jobs report which saw the unemployment rate come through at 6.6% vs 6.7% forecast. We still see the currency pair moving higher mainly due to the impact of US stimulus despite it's slowing upward momentum as we await US data tomorrow including Markit Manufacturing PMI.

KQMarkets

The Dax has rebounded significantly over the past few trading sessions as it edges back up toward all time highs despite weaker EU and US data. This has been due to the impact of stimulus though a pullback could be imminent whilst the index is below the 14,000 psychological level in particular with the EUR strengthening as the Dax is an export driven index.

KQMarkets

Bitcoin dropped sharply having reached all time highs above $40,000 as global equity markets also moved lower due to the underwhelmingly perceived US stimulus package and rising treasury yields. Therefore we believe the fall in Bitcoin could be due to dampening overall investor optimism and profit taking. However we are encouraged, in particular given it's...

KQMarkets

We still hold a neutral view on Gold despite the precious metal falling due to rising treasury yields and a stronger US dollar. This is because it appears prices have consolidated above support at $1830 and we will therefore await further price action before forming a directional view.

KQMarkets

Silver has dropped in the past few trading sessions due to an increase in treasury yields and the US dollar. We see further downside for the precious metal whilst it remains below resistance at $25.66 and see prices challenging support at around $21. This is due to Silver's volatile nature and the impact of the worsening coronavirus situation and subsequent...