Daily Market Analysis

US Open Preview – Sterling ticks down to fresh 7-month lows ahead of Parliamentary vote

Posted on June 20, 2018 at 11:57 am GMT

Here are the latest developments in global markets: FOREX: In the absence of key data releases, the dollar was trading flat against the safe-haven yen at 110.04 , while the dollar index was also steady at 95.07 as investors were eagerly waiting to see how the tit-for-tat game between China and the US will evolve. The euro continued to struggle for the second day, changing hands lower at 1.1557 (-0.26%), with the European Commission giving its final approval for tariffs to be imposed on imported US goods worth [..]

European Open Preview – Asian stocks gain as risk sentiment recovers; House of Commons votes on Brexit amendments

Posted on June 20, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower on Wednesday, though by less than 0.1%, giving back some of the gains it posted in the previous session as the currency with the most weight in the index – the euro – tumbled. The haven-perceived yen is also on the retreat, paring some of the gains it posted yesterday. STOCKS: Wall Street closed lower on Tuesday, amid fears over an escalating US-China trade spat and [..]

US Open Preview – Euro slips again as dovish Draghi reiterates conditional QE end

Posted on June 19, 2018 at 11:47 am GMT

Here are the latest developments in global markets: FOREX: During the early European afternoon, the dollar was pushing hard to recover losses made on the face of rising trade uncertainties as the US President was looking to impose additional trade tariffs on China, with dollar/yen inching up to 109.87 but remaining down on the day (-0.67%). The dollar index, though, which tracks the strength of the greenback against six major currencies managed to jump to an 11-month high of 95.26 (+0.47%) [..]

European Open Preview – Yen bulls return as trade frictions intensify; ECB Forum gathers attention

Posted on June 19, 2018 at 7:49 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 lower on Tuesday, though by less than 0.1%. Meanwhile, the Japanese yen is 0.8% higher against the dollar and nearly 1.0% stronger versus the euro, as signs of further escalation in trade tensions between the world’s two largest economies are diverting flows into safe-haven assets. STOCKS: US markets closed mostly lower on Monday, amid [..]

US Open Preview – Trade fears keep market bears around

Posted on June 18, 2018 at 11:41 am GMT

Here are the latest developments in global markets: FOREX: A trade war between the US and China, which could harm global trade, got nasty on Friday when China decided to apply a 25% tariff on several US imports (taking effect on July 6) as a response to an extra 25% tariff imposed by Washington on Chinese imports on the same day. Investors turned more cautious thereafter, pushing dollar/yen down to 110.45 (-0.19%) on Monday, while the dollar index which gauges the [..]

European Open Preview – Markets shrug off escalating trade tensions; Brexit also in the spotlight

Posted on June 18, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was higher by nearly 0.1% on Monday, staying close to the seven-month high it posted last week. The Canadian dollar was 0.15% higher against its US counterpart, trying to recover some of the oil-induced losses it posted on Friday, when it reached a one-year low. STOCKS: US markets closed lower on Friday in the aftermath of tariff announcements from both the US and China, though the magnitude of the downside moves [..]

US Open Preview – Euro posts modest gains but set for weekly loss; Trump to finalize list of targeted Chinese goods

Posted on June 15, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The euro edged higher by 0.26% versus the US dollar on Friday but was set to post its biggest weekly loss in 19 months after the European Central Bank (ECB) signaled it will keep rates at record lows until late 2019, pushing euro/dollar down by more than 250 pips at one point on Thursday. Meanwhile, Eurozone’s final CPI readings for May were in lie with preliminary estimates, with ECB member, Ewald Nowotny, saying that the central bank’s inflation target of just [..]

European Open Preview – ECB announces QE end, but dovish on hikes; trade developments eyed

Posted on June 15, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is up by almost 0.25% on Friday, touching a fresh 7-month high and extending the spectacular gains it posted yesterday as the currency with the heaviest weight in the index – the euro – collapsed after the ECB policy decision (see below). The yen was on the back foot as well, falling by 0.2% versus the dollar, after the BoJ downgraded its inflation view at its own policy [..]

US Open Preview – Euro bulls run higher ahead of ECB rate decision; BoJ policy meeting eyed too

Posted on June 14, 2018 at 11:33 am GMT

Here are the latest developments in global markets: FOREX: The focus turns to the European Central Bank (ECB) interest rate decision and press conference a bit later on Thursday, with euro/dollar picking up by 0.31% before the meeting. The US dollar dived back from 3-week highs against the Japanese yen on Wednesday, erasing previous gains made after the Fed signaled two more rate hikes this year, bringing the total number of rises to four from the three previously thought. The FOMC raised the Fed funds [..]

European Open Preview – Dollar slips despite ‘hawkish’ Fed; all eyes on ECB

Posted on June 14, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.3% lower on Thursday, extending losses from the previous session. Although the Fed raised rates and upgraded its rate-path projections to signal one additional hike this year, Chairman Powell played down these hawkish signals in his press conference, sending the US currency lower overall. Meanwhile, haven currencies like the Japanese yen and Swiss franc are higher today, following reports the US may introduce tariffs on China [..]

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