Orbex

07:06

Orbex

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...

00:57

Orbex

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. Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is provided as...

06:57

Orbex

Concerns about the spread of the Coronavirus have continued to push oil prices down, in addition to a poor API report. With Chinese demand falling, a bigger spread could see the prices of oil sliding even lower. Gold and Silver remain into a consolidation, which seems to suggest that a breakout could be coming soon. Either up or down. However, in the short-term,...

06:31

Orbex

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...

06:41

Orbex

The BOJ held interest rates unchanged overnight, however, the policymakers decided to push 2020's growth forecast up on the back of the sales tax introduced back in October. Yen was supported overnight, offering some USDJPY shorts. Markets wait for the UK’s jobs numbers and also EA’s ZEW release to find intraday opportunities of GBPUSD and EURUSD. Meanwhile,...

08:13

Orbex

US Retails Sales, corporate earnings and now Chinese consumer data add on to the equities rally! Despite US equities having reached overbought levels, phase one seems to be working well on global #indices. All eyes will turn to Davos this week, central banks' decisions and also the widely anticipate Trump’s impeachment trial. Let’s see how equities will pan...

07:56

Orbex

The US Treasury call on Bern last Monday took Swiss Franc to a Sep ‘18 high against the #dollar; call to reduce taxes and increase public spending... Pound also rose, perhaps on macro (Retail Sales) expectations and EC’s comments on the transition deadline, where the President said the exit date is up to the UK to decide, BUT the transition deadline has to be...

07:05

Orbex

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,...

01:03

Orbex

EURUSD triangle structure seems to suggest that we have a little more upside correction left before turning lower. The test could take place near 1.13, the 78.6% Fibonacci and also a price/trendline intersection. Both MACD and the RSI support short-term bulls! If successful, the chances of reaching a fresh multiyear low would increase. Trade safe Stavros...

07:27

Orbex

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...

07:00

Orbex

The US Treasury Department lifted the “Currency Manipulator” tag on China, allowing risk appetite to increase further just a day before the widely anticipated trade deal is signed. Dollar-yen and Aussie-dollar rose on the back of the news, however, the pound fell below 1.30 amid growing dovish signs from BOE. Timestamps USDJPY 2H 01:10 GBPUSD 2H 03:10 AUUSD 2H...

07:25

Orbex

Despite the US-China phase one trade deal supporting equities the upside could be minimized if priced in already since as indices have been moving up since the December truce! Geopolitics suggest more strength, however, technicals indicate otherwise! Will corporate earnings trigger a shift from a macro perspective? Well, either that or weaker US inflation...

07:55

Orbex

BOE's Gov Carney hinted to stimulus yesterday, indicating that the pound could come under severe pressure if incoming data show no improvement. Coincidently, the same day there were suggestions that the EU-UK talks could be dragged past the tight deadline BoJo has set. The passenger plane crash in Tehran didn’t reflect into the markets as uncertainty about the...

01:08

Orbex

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.

08:12

Orbex

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...

07:29

Orbex

Iran retaliated against US with ballistic missiles instead of disrupting oil shipments, facing one enemy at a time as China is a big importer. Gold and crude soared to fresh highs after Iran attacked a US military base in Iraq. Oil gains, however, were discounted early, perhaps due to EIA’s later report, but gold remains bid near $1600/oz. Watch our analyses...

06:43

Orbex

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...

07:10

Orbex

A US airstrike at the Bagdad airport killed Iranian General Qassem Soleimani’s. Not only this is going to increase geopolitical instability in the region but it also questions the legality of the President's decision as he acted without Congressional approval! US-Iran relations are taking a sour turn early in the year following an “extremely dangerous” attack...