Daily Market Analysis

Daily Market Comment – Stocks start new year on positive note; dollar recoups some losses

Posted on January 2, 2020 at 9:36 am GMT

Policy easing in China lifts stocks in Asia on first trading day of the year But as stocks extend their rally, in FX markets, most majors pull back against the dollar Gold edges up towards 3-month highs amid some tensions in Middle East and North Korea Quiet start to new year The new year got off to a subdued start with equity markets extending their incredible rally of 2019 and little new developments to rattle currency markets. But with Japanese [..]

Daily Market Comment – Gold levitates higher, Wall Street and dollar retreat

Posted on December 31, 2019 at 9:31 am GMT

Gold freight train rolls past $1520, fueled by decline in dollar & Treasury yields US stocks pull back despite positive trade news – will Trump target the EU next? Have a great New Year! Gold extends gains on weaker dollar, lower yields A broad-based decline in the US dollar remains the dominant theme in the holiday-thinned FX market, even in the absence of any noteworthy headlines. The retreat in the greenback is ‘lifting all boats’, with the New Zealand dollar [..]

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:49 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

Daily Market Comment – Wall Street hits new highs for Christmas; gold gains too

Posted on December 24, 2019 at 9:21 am GMT

Dow Jones lifted by Boeing, aussie and kiwi follow stocks higher Sterling edges lower as Brexit worries persist Gold does its own thing again – swims against the risk-on tide US stocks close at fresh records; aussie and kiwi climb as well Another day, another record close for all three major US equity indices, this time with the Dow Jones (+0.34%) leading the pack. The price-weighted index was propelled higher by some gains in Boeing (+2.9%), which has the highest [..]

Daily Market Comment – Dollar recovers some poise, stocks hit new records

Posted on December 23, 2019 at 9:51 am GMT

Solid US data propel equities higher alongside the greenback Loonie stumbles as retail sales plunge, oil prices pull back Liquidity may remain thin overall, so any piece of news – or a tweet – might shake markets Dollar rebounds in quiet markets; stock rally in full swing It was a relatively quiet session in the FX market on Friday, as things started to wind down for the holiday season and news flow was thin. The overarching theme was an increased [..]

Daily Market Comment – Pound stumbles, franc and yen up as Johnson aims for hard Brexit

Posted on December 20, 2019 at 9:14 am GMT

Pound headed for large weekly loss as UK government pushes for speedy Brexit Hard Brexit fears support safe havens even as US and China move closer to signing trade deal US consumption and inflation data eyed before holiday lull Brexit moves closer to reality, unnerves markets UK Prime Minister Boris Johnson used his post-election Queen’s speech yesterday to unveil his Brexit agenda and reintroduce the Withdrawal Agreement bill to Parliament with some changes. The revised bill has all the indications [..]

Daily Market Comment – Dollar shrugs off Trump impeachment; aussie jumps on upbeat jobs data

Posted on December 19, 2019 at 9:03 am GMT

Dollar unfazed from US House vote to impeach Trump, edges up on higher Treasury yields Aussie and kiwi bounce higher on better-than-expected domestic data; loonie also firmer Pound steadier ahead of Bank of England decision President Trump is impeached; markets don’t care President Trump became the third president in the history of the United States on Wednesday to be impeached after the House of Representatives, as expected, approved two charges against him for abuse of power and obstruction of [..]

Daily Market Comment – Markets begin to tone down ahead of holiday season; sterling extends slide

Posted on December 18, 2019 at 9:31 am GMT

Stock market rally loses steam as investors await further details on ‘phase one’ deal Pound continues to slip on revived no-deal Brexit fears Dollar supported by upbeat US data Aussie, kiwi and loonie on the backfoot; domestic data in focus Stocks pause for breath on lack of fresh headlines The global rally in equities appeared to be running out of steam on Wednesday as shares succumbed to profit taking after several days of impressive gains. Equities received a major boost [..]

Daily Market Comment – Pound slips as hard Brexit fears resurface; stocks regain momentum

Posted on December 17, 2019 at 9:10 am GMT

Pound tumbles as Johnson raises the stakes in getting Brexit done by December 2020 Stock markets continue to cheer US-China trade deal despite some doubts Aussie under pressure after RBA hints at February rate cut Sterling faces Brexit reality check The British pound is on the slide following reports that UK Prime Minister Boris Johnson will use his huge parliamentary majority to make an amendment to the Withdrawal Agreement to make it illegal for the transition period to be extended [..]

Daily Market Comment – Relief as US and China finally agree ‘phase one’ deal but euphoria already fading

Posted on December 16, 2019 at 9:33 am GMT

US and China reach a deal on a ‘phase one’ trade deal but details fail to impress Equity rally eases as euphoria begins to fade; yen extends losses Flash December PMIs in focus in Europe and US US and China confirm an interim deal The United States and China confirmed reports on Friday that a ‘phase one’ trade deal had been agreed by the two sides, ending weeks of speculation about whether a preliminary accord was possible before the end [..]

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