Daily Market Analysis

European Open Preview – Stocks slip as trade worries intensify; BoC decides

Posted on May 29, 2019 at 9:40 am GMT

Equities drop, safe havens soar as trade outlook darkens Bank of Canada meets today – may be a touch more optimistic Aussie resilient despite trade woes & RBA rate cut bets Trade woes return to haunt stocks; yen & dollar cruise higher Risk appetite turned sour again on Tuesday, as British and American traders returned to their desks after a long weekend and were met by more worrisome trade news. Recent reports citing Chinese officials suggest the real reason the [..]

European Open Preview – Euro slips as EU threatens Italy with fine; dollar edges higher

Posted on May 28, 2019 at 8:14 am GMT

Euro slips back below $1.12 on reports the EU could fine Italy with $4 billion penalty over high deficit Dollar supported by risk-off even as Treasury yields fall back towards 19-month lows Stocks buoyed by M&A news, hopes of more Chinese stimulus Euro on the backfoot again as Italy faces EU fine The euro’s bounce from yesterday’s results of the election for the European Parliament proved short-lived as the row over Italy’s high budget deficit came back to haunt the [..]

European Open Preview – Euro and pound steady after European elections

Posted on May 27, 2019 at 8:08 am GMT

Euro holds steady as pro-European parties maintain majority in European Parliament Sterling firmer despite Brexit party’s win at Euro elections as focus turns to Tory leadership race Stocks edge up but remain weighed by ongoing trade frictions as Trump pressures Japan Markets calm as EU populist parties make only limited gains There were significant gains across the European Union for far right and populist parties, with mainstream parties losing ground. However, while the centre-right and centre-left parties were unable to [..]

European Open Preview – Dollar retreats as rate-cut bets grow; yen soars

Posted on May 24, 2019 at 8:16 am GMT

Wall Street tumbles, yen soars on growth and trade concerns Dollar pulls back on mounting expectations for Fed easing Sterling catches its breath as May prepares to set departure date Risk sentiment takes a hit as soft PMIs revive growth worries Risk aversion dominated markets on Thursday, as alarming PMI data from major economies coupled with deepening US-China trade tensions amplified concerns around global growth. Preliminary Markit PMIs from both the US and Europe disappointed, highlighting that trade worries are [..]

European Open Preview – Sterling suffers as knives come out for Theresa May

Posted on May 23, 2019 at 8:11 am GMT

Sterling hammered on expectations PM May could resign soon German PMIs disappoint – euro may stay under pressure Risk aversion deepens as markets fear ‘new cold war’ Fed minutes reaffirm neutral stance, dollar advances No reprieve for sterling as May fights for political survival The British pound continues to be hammered by political uncertainty, with the leader of the House of Commons – Andrea Leadsom – resigning from the cabinet yesterday in protest to the government’s Brexit approach. The move [..]

European Open Preview – Then came the last days of (PM) May

Posted on May 23, 2019 at 7:58 am GMT

European Open Preview – Pound unimpressed by Brexit plan; Fed minutes due

Posted on May 22, 2019 at 8:09 am GMT

Pound surrenders gains to trade lower after May unveils Brexit plan Fed minutes today may boost the dollar a little Stocks advance on Huawei relief, but risks still heightened Sterling not convinced by May’s ‘last Brexit push’ The British pound briefly spiked higher yesterday, before surrendering all its gains to trade even lower, after PM May laid out her modified Brexit deal. In an attempt to win over votes from opposition parties and pro-EU moderates, she proposed giving Parliament a [..]

European Open Preview – Dovish RBA sinks aussie; dollar shines

Posted on May 21, 2019 at 8:34 am GMT

Aussie gives up election gains as RBA rate cuts come in focus US calms nerves by temporarily easing sanctions on Huawei Dollar advances as other currencies lose shine Aussie reverses lower as RBA rate cut bets soar The election-related boost that the aussie received yesterday proved short-lived, with the currency giving back nearly all its gains early on Tuesday, following the release of minutes from the latest RBA meeting and some remarks by Governor Lowe. The minutes played up the [..]

European Open Preview – Pound recovers some losses; dollar reigns supreme

Posted on May 20, 2019 at 8:16 am GMT

Sterling crumbles as no-deal Brexit risk returns Aussie gets a lift from politics, but outlook still grim Dollar continues to reign supreme as other currencies lack appeal Pound dives as May’s grasp on power weakens Sterling took yet another hit on Friday, with Cable falling to its lowest level since January as the British political landscape darkened. Cross-party talks between Theresa May’s Conservatives and the opposition Labour party collapsed, dashing hopes for a bipartisan compromise to break the Brexit deadlock. [..]

European Open Preview – Pound slumps as May expected to step down; dollar lifted by strong data and earnings

Posted on May 17, 2019 at 8:22 am GMT

Pound continues to slide as cross-party Brexit talks set to end and countdown begins to PM May’s exit Euro also on the backfoot as Italian political worries re-emerge US dollar climbs to 2-week high following strong corporate earnings and solid US data Pound extends losing streak as Brexit risks rise Sterling is on track to post its sixth straight day of losses and to end the week 1.6% lower as Prime Minister Theresa May’s days look numbered. It was confirmed [..]

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