Daily Market Analysis

Daily Market Comment – Stocks under pressure amid growth jitters; dollar off lows

Posted on April 15, 2020 at 8:36 am GMT

Uncertainty about growth outlook resurfaces after IMF warning, weighing on stocks Dollar pulls higher as risk aversion sets in US earnings and retail sales data could make for a rocky ride Stocks muted as growth jitters return Equity markets were struggling for momentum on Wednesday as the IMF’s latest economic forecasts served as a reminder to investors that the virus crisis will take a heavy toll on the global economy. In its April report, the IMF projected that the global [..]

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:24 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Daily Market Comment – OPEC cuts, but oil and stocks don’t ‘buy it’

Posted on April 13, 2020 at 8:33 am GMT

OPEC+ agrees to an almost 10 million barrels/day supply cut Oil opens higher, but surrenders most gains as compliance doubts set in Stocks turn red, yen and gold inch higher in holiday-thinned trading OPEC cuts, but oil can’t stay afloat The world’s biggest oil producers finalized a historic deal to cut their production over the weekend, in an attempt to stabilize a market that has been ravaged by collapsing demand. After a few hiccups with Mexico, OPEC and its allies [..]

Daily Market Comment – Oil firms as OPEC hypes deal, stocks cheer

Posted on April 9, 2020 at 9:23 am GMT

Hopes for a production-cut deal by OPEC today catapult oil higher Deal will likely get done, yet any positive reaction in oil may be short lived Stocks climb with crude, but watch out for US jobless claims today Euro will stay tuned to the Eurogroup meeting – are Eurobonds on the menu? Oil jumps on signs a deal is near, but caution warranted The energy market has come back into the spotlight ahead of the meeting between OPEC and Russia [..]

Daily Market Comment – Euro rebound falters as EU rejects Eurobonds; stocks go nowhere

Posted on April 8, 2020 at 8:50 am GMT

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far? Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro struggles The Eurozone’s institutional deficiencies came back on the market’s radar today, after a lengthy meeting of the bloc’s finance ministers ended without an agreement [..]

Daily Market Comment – Signs of virus slowdown breathe life into markets

Posted on April 6, 2020 at 8:53 am GMT

Stocks roar higher, yen stumbles as new infections plateau in Europe Is this recovery sustainable though, or just another bear market rebound? Oil remains in focus as OPEC+ postpones meeting – will they cut enough? Risk appetite returns on hopes ‘peak virus’ is behind us Global markets woke up in a better mood on Monday, with stocks in Tokyo gaining roughly 4% and futures pointing to a similar open in New York, as a slowdown in new infections in [..]

Daily Market Comment – Oil seesaws on doubts about Saudi-Russia cuts; dollar firms ahead of NFP

Posted on April 3, 2020 at 8:27 am GMT

Oil surges then dips as markets question Trump’s claim of a Russia-Saudi Arabia deal Stocks turn lower as oil boost fades, services PMIs spread gloom Dollar set for weekly gains; unlikely to be held back by poor NFP Oil spikes as Trump ups pressure on Russia and Saudi Arabia Oil prices saw their biggest daily jump on record on Thursday after President Trump tweeted that Russia and Saudi Arabia – the world’s biggest oil producers after the United States – [..]

Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:20 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]

Daily Market Comment – Dollar firms, stocks dive again as US virus cases soar

Posted on April 1, 2020 at 8:41 am GMT

Risk sentiment sours again on mounting virus fallout, pulling stocks lower Manufacturing PMIs heighten recession fears; US ISM PMI next in focus Fed tries to ease dollar funding pressure but unable to keep currency down for long Stocks head south as virus panic returns It was a poor start to the second quarter for stock markets around the world as the growing coronavirus pandemic shows no sign of slowing, with the number of cases globally shooting past 800,000 yesterday. Stocks [..]

Daily Market Comment – Stocks buoyed by China PMIs; yen down on fiscal year-end positioning

Posted on March 31, 2020 at 8:45 am GMT

Chinese PMIs unexpectedly turn positive in March, lifting stocks, but only slightly Signs of contagion slowing in Europe but uncertain outlook keeps lid on sentiment Yen slips as Japanese investors scramble for dollars at end of fiscal year Some joy from bounce in Chinese PMIs Markets were in a relatively upbeat mood on Tuesday as encouraging PMI numbers out of China and a positive close on Wall Street lifted shares in Asia. European indices jumped more than 1% at the [..]

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