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Market News

Market News | News for Forex, Commodities and Indices | ZFX

ZFX: Cautious sentiment maintained amid a higher dollar, gold tumbled

Some traders believe that the dollar was bolstered by the US economic data as the manufacturing figures in September and the US home sales in August were improved. On the other hand, the fears of another wave of coronavirus pandemic over Europe and the UK hurt the sentiment of the Euro and the Sterling, boosting the dollar as well. The UK Prime Minister, Boris Johnson, announced the reimplementation of the lockdown measures in England on Tuesday.

Market News | News for Forex, Commodities and Indices | ZFX

ZFX: Nasdaq once again dragged down the market sentiment

The European Stock markets are opening lower, as the resurgences of coronavirus pandemic added fears of another lockdown measures in those regions. The WHO warned that the situation is “very serious”, further triggering the concerns over the economic recovery of the euro zone. The total confirmed cases of Covid-19 have now passed 30 million worldwide, with more than 940000 deaths. Sterling’s move, with a very volatile night, was the focus in FX. As the BOE hinted the potential implementation of negative interest rates, the sterling sharply dropped to the low of 1.2864 on Thursday. Afterward, it was reported that the EU-UK trade deal was still possible, as the comment from the European Commission President Ursula Von der Leyen, boosting the sterling back to 1.3 mark.

Market News | News for Forex, Commodities and Indices | ZFX

ZFX: Traders are closely watching the Sterling amid potential Brexit chaos

The EU has warned the UK that the bill would hurt the trade deal ahead, and the EU will prepare for the worst, letting UK to leave without any deal. The Sterling bounced back to 1.29 level against dollar on Monday US session, but dropped back to 1.2850 area for closing. Despite improved risk appetite and the slip of dollar, Sterling is clearly bearish. The dollar index broke 93 mark again on Tuesday earlier trading session.

Market News | News for Forex, Commodities and Indices | ZFX

ZFX: Sentiment becomes sensitive amid those bearish variables

In FX, the dollar was steadied on Friday earlier session, after a volatile move overnight. The latest policy direction from ECB boosted the euro up to 1.1917, weakening the dollar in the US trading session. But, the tumble of the US stocks sparked risk aversion, triggering a rebound of the dollar against the major currencies.

Market News | News for Forex, Commodities and Indices | ZFX

Wall Street plunge! Risk-off sentiment was boosted before NFP

There are different interpretations for the market crash. Most of the analysis believe that “overvaluation” would be the main reason. Investors may be doubtful about the sustainability of those high price stocks. On the other hand, before the Non-Farm payrolls on Friday, investors may book the profit, triggering such big move. In addition, negotiations of the new stimulus package between the White House and the Democratic Party have no progress at all, sparking concerns over the lack of fiscal policy.

Market News | News for Forex, Commodities and Indices | ZFX

Dollar index dropped to a two-year low amid low rate expectation

The latest news is that TikTok has selected a potential buyer already, and the transaction involves the company’s business in the US, New Zealand and Australia. The result will be announced as soon as Tuesday. Based on information over these days, potential buyers include Oracle, Microsoft and Wal-Mart. The estimated transaction price is between US$20 billion and US$30 billion.

Market News | News for Forex, Commodities and Indices | ZFX

Dollar index is trading at 93 level in early Wednesday session

During the Asian session on Wednesday, the Asia-Pacific stock markets were mixed, following the mixed momentum Wall Street overnight, of which the Dow retraced, while the Nasdaq and S&P both made another new high. So far, the dollar has no obvious rebound as traders were cautious about the coming US economic data announcement. The US consumer confidence tumbled to its lowest level in more than six years, causing pressure to the dollar.

Market News | News for Forex, Commodities and Indices | ZFX

ZFX: Risk sentiment improved amid mixed news

The US data of business activities and home sales are still supportive to the greenback on Monday. The Dollar Index is trading at 93 level in the European session opening despite the return of the risk appetite. Investors are questioning whether additional monetary easing is needed or not for maintaining the economic recovery. The answer may be revealed this week after Powell’s speech at Jackson Hole on Thursday.