Daily Market Analysis

Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]

Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:52 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]

Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

Daily Market Comment – Virus ‘breakthrough’ lifts stocks; dollar awaits Powell speech

Posted on August 24, 2020 at 9:00 am GMT

Markets start week on positive note amid progress on Covid-19 treatment and vaccine Dollar holds firm as investors gear up for Powell’s big Jackson Hole speech Euro and pound left reeling after data shock and Brexit blow Virus optimism leads equities higher Markets have started the week on a cheery note as news that President Trump has authorized the emergency use of plasma treatment for Covid-19 patents and is considering fast tracking a UK vaccine before the election boosted sentiment. [..]

Daily Market Comment – Dollar gets a second wind after bleak Eurozone PMIs

Posted on August 21, 2020 at 8:49 am GMT

Vaccine news from Pfizer boost sentiment, more records for Nasdaq Dollar can’t find much love amid risk-taking mood But how long can the market ignore Europe’s second wave? Perhaps not long, as the Eurozone’s PMIs provide a reality check Dollar feels the ‘risk on’ blues There’s no love for the US dollar out there. The reserve currency remained on the back foot on Thursday, surrendering some of the gains it posted after the FOMC minutes played down the prospect of [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 9:18 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

Daily Market Comment – Dollar firms, stocks muted amid stalled stimulus talks, soft China data

Posted on August 14, 2020 at 9:00 am GMT

Hopes fade for a quick stimulus deal in the US as Congress leaves town Weaker-than-expected Chinese data adds to recovery worries Dollar pulled from lows as subdued tone weighs on stocks Stalemate on Capitol Hill A deal on a new coronavirus relief package looked increasingly out of reach as US Senators left Washington for the summer recess, pushing the likely timing of an agreement to September when both houses return. A last-ditch attempt on Wednesday to resume talks went nowhere [..]

Daily Market Comment – Dollar slips as no stimulus deal in sight yet; Gold pares losses

Posted on August 13, 2020 at 8:34 am GMT

US Treasury yields fall back as Washington no closer to reaching stimulus deal Dollar retreats, helping gold recover some losses; stocks subdued US data, China trade talks on markets’ radar for the next few days Talks on virus relief bill stumble again The Trump administration and Democrats appear no closer to finding a compromise deal on a new virus relief package as the latest efforts to kick start the negotiations prove fruitless. Talks between the two sides have been at [..]

Daily Market Comment – Vaccine fever shakes markets, RBNZ shoots kiwi down

Posted on August 12, 2020 at 9:17 am GMT

Vaccine news catapult global yields higher, push stocks lower Gold falls without a parachute – has it peaked? Dollar inches higher amidst the turbulence, but Fed speakers are a risk RBNZ expands QE and opens door to negative rates, kiwi stumbles Putin says Russia has developed the first vaccine President Vladimir Putin unleashed mayhem in financial markets on Tuesday, after he announced to the world that Russia has developed the first successful coronavirus vaccine. Global bond yields erupted higher [..]

Daily Market Comment – US stocks flirt with record highs, gold retraces

Posted on August 11, 2020 at 8:57 am GMT

S&P 500 cruises towards all-time high as Trump floats capital gains tax cut Markets also take heart from ‘soft’ Chinese retaliation against US Gold pulls back as dollar and bond yields recover RBNZ meets overnight, might ‘talk down’ the kiwi more forcefully Wall Street sets its sights on new records Financial markets seem to have concluded that better days lie ahead for the global economy, with most asset classes trading in a buoyant manner this week. The S&P 500 is [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms