Daily Market Analysis

Daily Market Comment – Another dose of vaccine optimism calms market nerves

Posted on September 14, 2020 at 11:44 am GMT

Positive vaccine headlines bolster global risk sentiment Suga set to become Japan’s new leader – general election imminent? Sterling recovers amid calmer market tones, looks to Parliament Vaccine news breathes life back into stocks, dollar sleepy Wall Street hit a rough patch last week, as investors finally paused to assess the utopian valuations in the tech sector. Vanishing hopes for a new relief package out of Washington D.C. and news that some coronavirus vaccines might be delayed because of safety [..]

Daily Market Comment – Lagarde gives euro bulls the green light; Pound sinks on Brexit turmoil

Posted on September 11, 2020 at 8:52 am GMT

Never mind about talking down the euro, ECB wants to talk up the recovery Pound tumbles again as UK-EU Brexit row turns ugly, but talks still on Wall Street back in the red as hope for pre-election fiscal boost slips Euro surges after Lagarde poses no threat The European Central Bank kept its monetary policy settings unchanged on Thursday and sounded cautiously optimistic about the Eurozone’s recovery prospects. However, it was President Christine Lagarde’s stance on the exchange rate that [..]

Daily Market Comment – Nasdaq snaps losing streak; ECB to walk a fine line

Posted on September 10, 2020 at 8:45 am GMT

Equity slump eases as tech stocks bounce back; but is the rout over? Euro perks up ahead of ECB decision as dovish expectations fade a little Pound steadies but backlash over Johnson’s Brexit plan intensifies Nasdaq has best day since April Wall Street ended its three-day losing streak on Wednesday, with all three major indices going some way in recouping the previous sessions’ heavy losses. The Nasdaq Composite and Nasdaq-100 soared by 2.7% and 3.0% respectively, enjoying their biggest one-day [..]

Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]

Daily Market Comment – Pound hammered as no-deal Brexit fears return

Posted on September 8, 2020 at 8:49 am GMT

Brexit comes back to haunt the pound as Johnson raises the stakes Euro sticks to tight range ahead of Thursday’s ECB decision Stocks regain positive footing but dollar up as Trump talks China decoupling Pound slumps after Johnson threatens no deal Only five weeks left to reach a deal and Britain and the European Union are too busy posturing than negotiating, with Boris Johnson’s latest rhetoric once again raising the prospect of a no-deal Brexit. As the talks to agree [..]

Daily Market Comment – Wall Street tumble, job woes put dollar on defensive

Posted on September 7, 2020 at 8:57 am GMT

Dollar edges up as US tech losses deepen, jobs recovery slows Brexit threatens pound rally as Johnson raises his game in EU talks Chinese exports surge keeps risk sentiment afloat as US tensions weigh Tech rally suffers major setback Global equity markets attempted to shrug off Wall Street’s rare selloff last week as Asian shares ended Monday mixed, while Europe’s major bourses opened sharply higher. The somewhat questionable risk-on tone was underscored by better-than-expected trade figures out of China, which [..]

Daily Market Comment – Wall Street rediscovers gravity ahead of US jobs report

Posted on September 4, 2020 at 1:25 pm GMT

Stock markets tank as investors dump their tech darlings Yet, there is no sense of panic in the market, especially among currencies US jobs report today might decide if this correction still has some mileage in it Risk aversion makes a rare appearance After cruising higher without any significant corrections for three months now, the US equity market finally suffered a meaningful setback on Thursday. The S&P 500 lost 3.5% and the Nasdaq was down 5% as investors dumped tech [..]

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 9:08 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 11:06 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sunk to a fresh [..]

Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:52 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]

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