First-quarter US GDP may be as low as 1.2% due to coronavirus, but stocks don’t seem to care
A volunteer measures a passenger’s body temperature. In light of a coronavirus outbreak in China, Hong Kong district councillors and residents formed makeshift quarantine stations, screening passengers arriving from China, Feb. 4, 2020. Willie Siau | SOPA Images | LightRocket...
Signs that the Spread of the Coronavirus is Slowing Down
Despite some negative headlines over the weekend, there have been more signs in recent days that the spread of the coronavirus is slowing down. When it comes to the number of deaths, it is now above 800, which exceeds the...
WTI Oil Outlook: Oil Remains in Red on Concerns about Virus and OPEC+ Group Consensus for Increased Output Cut
WTI oil price extends weakness on Monday and is on track to fully retrace mild $49.41/$52.28 correction, which was capped by falling 10DMA. The sentiment remains weak on reduced demand from China, due to coronavirus outbreak and worries whether Russia...
EURCAD Bounces on Moving Averages Bullish Cross; Neutral Bias in Near Term
EURCAD has been losing ground over the last four days but its sideways move since the end of August remains intact, keeping the short- and medium-term pictures neutral. The price is currently hovering near the 20- and 40-day simple moving averages (SMAs) which...
Dollar Extending Rally Against Euro and Canadian
Global financial markets are in mild risk averse mode today but movements are limited. Dollar is lifted by renewed buying in early US session, and it’s extending recent rally against Euro and Canadian Dollar. Strength against other major currencies is...
AUD/USD Outlook: Aussie Bears Are Pausing As China Is Back To Business After Holiday And On Upbeat Chinese CPI Data
The Australian dollar rose in early Monday after hitting new multi-month low at 0.6662 last Friday. China is back to business after extended Lunar New Year holidays and slight optimism about coronavirus epidemic could be slowing, lifted Aussie after Friday’s...
Stocks Rally On Easing Monetary Policy Assumptions, But For How Long
Last week, we learned that investors were still brave enough to continue with a ‘buy-the-dips’mentality in equity markets. All three major US indices made new record highs on Thursday with the S&P 500 up 3.2% for the week, its best...
Markets Mildly Lower as Coronavirus Death Tolls Break 900
Asian markets trade mildly lower as China’s coronavirus continues to spread. But losses in major indices are so far limited. In the currency markets, commodity currencies are trading to recovery some of last week’s losses, together with Sterling. Yen and...