Daily Market Analysis

US Open Preview – Pound’s rally takes a breather after Barnier’s cautious remarks; US core PCE inflation pending

Posted on August 30, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Pound/dollar stalled yesterday’s rally, trading at 1.3016 (-0.08%) as the EU’s Brexit negotiator Michel Barnier talked down expectations of a Brexit deal today, saying that the bloc must be prepared for a “disorderly” exit. His comments came a day after he said that the UK could be offered a special partnership “such that has never been with any other country”. Euro/dollar was struggling to overcome the 1.1700 level, last seen at 1.1694 (-0.09%) [..]

European Open Preview – Barnier gives the pound a helping hand; US core PCE inflation coming up

Posted on August 30, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is flat against a basket of six major currencies on Thursday, after it closed lower for a fourth consecutive session yesterday. The biggest mover was the British pound, which soared higher following comments from the EU’s chief Brexit negotiator suggesting that Europe is willing to offer the UK a special deal. Meanwhile, the kiwi plunged overnight after New Zealand’s latest business confidence data disappointed, amplifying expectations for a more [..]

US Open Preview – Sterling bounces in quiet markets; trade updates awaited

Posted on August 29, 2018 at 11:21 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was up by 0.14% on Wednesday, drawing support from a robust reading on US consumer confidence yesterday, and looking set to snap a three-day losing streak. Against the euro, the dollar gained 0.21%, while it was practically flat against the Japanese yen. Meanwhile, the British pound was in recovery-mode, with investors seemingly brushing aside reports suggesting UK Brexit Secretary Raab is frustrated that EU chief negotiator Barnier is [..]

European Open Preview – Loonie advances amid trade optimism; updated GDP estimates due out of the US

Posted on August 29, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.10% against a basket of six major currencies on Wednesday. Even though the currency was on the back foot for most of the trading session on Tuesday, it managed to recover nearly all of its losses following the release of upbeat US consumer confidence data. Elsewhere, the loonie continued to advance amid optimism that a resolution to the NAFTA renegotiations may be inching closer. STOCKS: Wall Street closed higher yet [..]

US Open Preview – Dollar inches lower; all eyes on US-Canada talks

Posted on August 28, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded 0.16% lower against a basket of six major currencies on Tuesday, erasing the modest gains it posted earlier in the session and looking set to post the third day of declines in a row. The world’s reserve currency has been under pressure lately as trade tensions appear to have eased somewhat and investors unwound some of their safe-haven bets, with some less-than-hawkish remarks from Fed chief Powell also [..]

European Open Preview – US-Mexico trade deal fuels risk appetite; dollar extends retreat

Posted on August 28, 2018 at 7:40 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was up on Tuesday, albeit by less than 0.1%, attempting to recover some of the losses it recorded yesterday as investors scaled back safe-haven bets on the currency, following headlines of a US-Mexico trade agreement. The euro capitalized on the dollar’s softness, advancing across the board on Monday, and reaching a fresh one-year high against the battered British pound. Meanwhile, the loonie climbed somewhat on the optimistic NAFTA headlines, touching a [..]

US Open Preview – Dollar consolidates losses; NAFTA developments eyed

Posted on August 27, 2018 at 11:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of currencies remained higher on the day, though only slightly so, consolidating for the most part last week’s notable declines which largely came on the back of Trump’s Fed-hiking criticism and Fed chief Powell’s perceived-dovish message at Jackson Hole on Friday. Dollar/yen was 0.1% lower, trading roughly 40 pips below Friday’s three-week high of 111.48. Euro/dollar was marginally down. The pair pared some of its [..]

European Open Preview – Dollar slips on Powell; NAFTA agreement coming up?

Posted on August 27, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Monday (+0.06%), recovering some of the notable losses it posted on Friday following some relatively cautious remarks from Fed Chairman Powell that left the bulls disappointed. The euro capitalized on the dollar’s weakness and recovered across the board, while conversely, the yen retreated – weighed on by the boost in risk appetite that Powell fueled. Meanwhile, the British pound remained on the back foot, amid no signs of [..]

US Open Preview – Dollar loses ground ahead of Powell’s Jackson Hole speech; oil rallies

Posted on August 24, 2018 at 12:32 pm GMT

Here are the latest developments in global markets: FOREX: Dollar/yen pulled back below a two-week high of 111.48 reached early today, falling to 111.30, near Thursday’s close price ahead of Powell’s Jackson Hole speech. The dollar index, which measures the dollar’s strength against six major currencies was also in a bearish move, printing losses towards 95.33 (-0.34%) as the euro and the pound strengthened. Euro/dollar stood higher at 1.1585 (+0.42%), helped by solid GDP growth data out of Germany, and pound/dollar [..]

European Open Preview – Dollar posts modest losses ahead of Powell speech; possibility of no-deal Brexit hurts pound

Posted on August 24, 2018 at 7:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar was 0.2% down against six major currencies on Friday. Fed chief Powell’s speech at the Jackson Hole summit later today may act as the short-term driver determining positioning on the greenback. STOCKS: The Dow Jones, S&P 500 and Nasdaq Composite finished Thursday’s trading in the red, specifically losing 0.3%, 0.2% and 0.1% respectively. Trade angst could had contributed to the fall, though it could also be argued that there was no [..]

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