Daily Market Analysis

US Open Preview – Dollar inches up as Fed takes center stage

Posted on August 1, 2018 at 11:05 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued the bullish movement today against the Japanese yen (+0.05%), near 112.00, while tariffs returned to the spotlight as the US and China were reportedly seeking to resume talks to find common ground on trade. The main event of the day will be the FOMC monetary policy decision later in the day. In the Eurozone, the final IHS Markit manufacturing PMI posted a reading of 55.1 in July, unchanged from [..]

European Open Preview – Fed set for “hawkish hold”? Trade back in the spotlight

Posted on August 1, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher by 0.17% on Wednesday, ahead of the Fed policy decision at 1800 GMT, and building on the gains it posted in the previous session. The yen continued to retreat yesterday after the BoJ implicitly signaled it will keep its policy rates “low for longer”. The aussie and the kiwi both took a modest hit overnight, after media reports suggested the US may impose “heavier” tariffs on Chinese [..]

US Open Preview – Yen continues to retreat after BoJ; US core PCE index eyed

Posted on July 31, 2018 at 11:18 am GMT

Here are the latest developments in global markets: FOREX: The US dollar edged higher against the Japanese yen on Tuesday (+0.37%), reaching an 11-day high of 111.58, after the Bank of Japan (BOJ) tweaked its massive stimulus program to make it more flexible, but disappointed those looking for major hawkish changes. Euro/yen and pound/yen jumped by 0.57% and 0.58% respectively. The dollar index, which gauges the greenback’s strength versus six major currencies remained steady near its opening level of 94.32. Turning to the euro [..]

European Open Preview – Yen drops as BoJ delivers no fireworks; eurozone inflation and GDP growth eyed

Posted on July 31, 2018 at 7:40 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is practically unchanged on Tuesday, after it posted considerable losses in the previous session. The yen, meanwhile, fell across the board after the BoJ delivered only minor tweaks to its policy framework, disappointing those looking for a major hawkish turn (see below). The loonie also had a rather volatile time, amid conflicting NAFTA headlines. STOCKS: Wall Street closed lower yesterday, as a notable selloff in tech stocks dragged the broader [..]

US Open Preview – European equities and greenback lose ground; German inflation coming up

Posted on July 30, 2018 at 11:25 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback against a basket of six major currencies, was trading lower by around 0.2%, with euro/dollar being up by roughly the same proportion and trading around 20 pips below the 1.17 handle. The reaction to business and consumer confidence surveys out of the eurozone was minimal, with the focus being on German inflation figures which may act as the preamble to tomorrow’s respective numbers out [..]

European Open Preview – Yen holds firm as markets await BoJ; German inflation due

Posted on July 30, 2018 at 7:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is practically flat on Monday after posting some modest losses in the previous session, failing to capitalize on a strong US GDP print for Q2. Meanwhile, the yen advanced on Friday, as markets positioned for the BoJ’s policy decision, scheduled for the Asian trading session on Tuesday. STOCKS: Wall Street posted considerable losses on Friday, as soft earnings releases took the wind out of the sails of major indices. The tech-heavy Nasdaq Composite fell [..]

US Open Preview – Dollar modestly higher ahead of much-awaited US GDP report; European stocks in the green

Posted on July 27, 2018 at 10:39 am GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of six major currencies was trading higher – though by less than 0.2% – building on Thursday’s notable rise. Dollar/yen was little changed ahead of the US report on Q2 GDP and with market participants eagerly awaiting to see whether the Bank of Japan will indeed tweak its policy framework when it completes its meeting on monetary policy on Tuesday. Euro/dollar was 0.1% down, extending [..]

European Open Preview – Euro drops on ECB optionality; US Q2 GDP on the radar

Posted on July 27, 2018 at 7:37 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – was practically unchanged on Friday, after it posted considerable gains in the previous session. The surge came as the currency with the heaviest weight in that index by far – the euro – tumbled following the ECB policy meeting. STOCKS: US markets closed mixed yesterday, as an 18.96% plunge in Facebook’s share dragged down the tech-heavy [..]

US Open Preview – ECB meeting front and center; yen bulls return

Posted on July 26, 2018 at 11:00 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was down by 0.08% on Thursday, extending the losses it posted in the previous session following the meeting between European Commission President Jean-Claude Juncker and US President Donald Trump. The two agreed to lower industrial tariffs and increase US natural gas and soybean exports to Europe. Also, they decided to harmonize regulatory standards to allow for medical devices to have better access in Europe. Dollar/yen is one of the [..]

European Open Preview – Stocks rally on US-EU accord; all eyes on ECB

Posted on July 26, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – is down by 0.27% on Thursday, extending the notable losses it posted in the previous session as trade tensions faded. The euro is little changed as traders await the main event of the day; the ECB policy meeting. The yen, meanwhile, is up across the board today amid continued speculation for a hawkish tilt by [..]

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