• Latest
  • Trending
  • All
RBA cuts interest rates to an all-time low of 0.5%

Stocks in a recovery mode, bitcoin struggles in the middle of the range

March 3, 2020 12:44
Investors stay depressed after heavy losses

Investors stay depressed after heavy losses

September 25, 2023 07:00
Equity markets mostly depressed

Equity markets mostly depressed

September 22, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
Stock markets directionless as Fed meeting looms

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
Dollar lacks upside momentum due to lower Treasury yields

Dollar under some pressure after the weekend

September 18, 2023 07:00
Economic data and ECB boost stock market rally

Economic data and ECB boost stock market rally

September 15, 2023 07:57
Dollar lacks upside momentum due to lower Treasury yields

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
Stock markets struggle for direction ahead of major events

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
Dollar lacks upside momentum due to lower Treasury yields

Dollar rally pauses to start the week

September 11, 2023 06:46
Risk sentiment improves somewhat after a streak of losses

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
  • Terms & Сonditions
  • Contact
Monday, September 25, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Stocks in a recovery mode, bitcoin struggles in the middle of the range

Stocks in a recovery mode, bitcoin struggles in the middle of the range

RBA cuts interest rates to an all-time low of 0.5%

by Stephen Soo
March 3, 2020 12:44
in Fundamental analysis
0
RBA cuts interest rates to an all-time low of 0.5%

US stock markets posted a decent rally overnight, as risk sentiment has improved somewhat following a deep sell-off last week. Investor focus has shifted to the possible supportive measures both from the governments and central banks amid the coronavirus spreading across the globe. Asian markets followed the suit and saw mostly upbeat dynamics on Tuesday, with the exception of Japan’s Nikkei 225 that slipped 1.2% despite the Bank of Japan conducted another repo operation in an effort to inject more liquidity into the market and ensure its stability. 

In Australia, S&P/ASX 200 finished 0.69% higher after a brief jump by over 1% in an initial reaction to the RBA’s decision to cut interest rates to an all-time low of 0.5%, as expected. This step bolstered stocks in general, as investors now hope that other major central banks will follow the suit and take measures to shield their economies from the effect of the coronavirus outbreak. 

Following the RBA decision, AUDUSD rose to yesterday’s highs around 0.6570. The upside momentum in Aussie remains limited despite a broad-based dollar weakness as risk demand is still fragile, and oil prices struggle to regain a firm bullish momentum after a dip towards mid-2017 lows below $49. In the short term, the pair will likely remain close to 11-year lows despite the oversold conditions.

Meanwhile, gold prices retain a mild positive bias after yesterday’s rejection from the $1,610 area. The precious metal remains below the $1,600 psychological level, as European stock markets are rallying on Tuesday, adding over 2.5%. In a wider picture, the bullion may resume the ascent as risk demand could wane quickly. 
As for cryptocurrencies, BTCUSD encountered a local resistance just below the $9,000 level and got back to the middle of the short-term range. The 200-DMA now acts as the immediate support, and once the pair manages to hold above this line, the prices could retarget $9,000 and see a daily close above this important level. On the hourly timeframes, a bearish bias persists, and the digital currency still lacks the upside impetus regain the 50-DMA around $9,300. 

Tags: AUDUSDBank of JapanBTCUSDGoldNikkei
Share4Tweet3
ADVERTISEMENT
Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

Related Posts

Investors stay depressed after heavy losses
Fundamental analysis

Investors stay depressed after heavy losses

September 25, 2023 07:00
11
Equity markets mostly depressed
Fundamental analysis

Equity markets mostly depressed

September 22, 2023 07:00
13
Stock markets directionless as Fed meeting looms
Fundamental analysis

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
14
Economic data and ECB boost stock market rally
Fundamental analysis

Economic data and ECB boost stock market rally

September 15, 2023 07:57
15
Stock markets struggle for direction ahead of major events
Fundamental analysis

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
22
Risk sentiment improves somewhat after a streak of losses
Fundamental analysis

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Sentiment turns sour, dollar steadies ahead of the weekend

Markets remain buoyed, dollar sags further as risk-on tone persists

July 20, 2022 07:23
18

In addition to Covid relief measures, President Biden has long-term plans to bring back jobs

February 15, 2021 19:39
10

Federal Reserve Board announces approval of application by Bangor Bancorp, MHC

October 22, 2020 20:27
10

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
124
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews