Daily Market Analysis

US Open Preview – Dollar hits fresh 3-week highs ahead of FOMC rate decision

Posted on June 13, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Sterling dipped towards a 1-week low of 1.3310 against the US dollar on Wednesday (-0.20%) after CPI figures out of the UK missed slightly expectations on a yearly basis, coming at 2.4% instead of 2.5% analysts forecasted. Dollar/yen reached a 3-week high of 110.71 (0.15%) before the two-day FOMC policy meeting concludes later today, which will give hints on how many more rate hikes are in the Fed’s radar. The dollar index, which measures the dollar’s [..]

European Open Preview – Dollar inches up ahead of Fed decision; UK CPI coming up

Posted on June 13, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher by a little more than 0.1% on Wednesday, ahead of the Fed policy decision at 1800 GMT, where the central bank is widely anticipated to raise interest rates. In the UK, sterling managed to rebound against the euro and the yen yesterday, following a vote in Parliament that was interpreted as making a “softer” Brexit more likely. STOCKS: US markets closed mixed on Wednesday, with the Nasdaq [..]

US Open Preview – Sterling heads up despite a miss in wage numbers; Brexit vote in Parliament eyed

Posted on June 12, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: The greenback moved higher to a new three-week high of 110.49 versus the Japanese yen on Tuesday (+0.22%) after a successful meeting between the US President Donald Trump and the North Korean leader Kim Jong Un during the Asia session. They agreed to achieve a complete denuclearization of the Korean peninsula while Washington committed to provide security guarantees to North Korea but kept sanctions against its old enemy in place for now. Later in the day, [..]

European Open Preview – Risk appetite buoyed by geopolitics; UK jobs data due in the midst of Brexit developments

Posted on June 12, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.2% higher on Tuesday, ahead of the release of the US inflation data for May and as the Fed kicks off its two-day policy gathering. Meanwhile, the yen is on the back foot as the encouraging outcome in the Donald Trump – Kim Jong-un meeting is supporting risk appetite and diverting flows out of haven assets. STOCKS: Wall Street indices closed higher on Monday, though the gains were [..]

US Open Preview – Dollar enjoys gains as attention shifts to geopolitics and monetary policy

Posted on June 11, 2018 at 11:59 am GMT

Here are the latest developments in global markets: FOREX: The US dollar managed to cross slightly above the 110.00 key level against the Japanese yen on Monday to reach an intraday high of 110.06 ahead of a historic summit between the US President and the North Korean leader on Tuesday and the conclusion of the two-day FOMC policy meeting on Wednesday. The US dollar index which measures the greenback’s performance against a basket of six major currencies moved slightly higher by 0.07% today. Euro/dollar edged [..]

European Open Preview – Yen retreats ahead of key events; UK manufacturing output coming up

Posted on June 11, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is lower on Monday, though by less than 0.2%. The euro is higher across the board, as some encouraging remarks from Italy’s new finance minister helped to calm markets. Meanwhile, the yen is on the back foot amid subsiding European political risks, and as investors position for the several events this week will bring. [..]

US Open Preview – Investors look for safe havens ahead of G7 summit

Posted on June 8, 2018 at 11:56 am GMT

Here are the latest developments in global markets: FOREX: Despite optimism that the ECB will end its QE program by the end of this year, the euro went downhill on Friday against its US counterpart as appetite for riskier assets eased on fears trade tensions could heighten if the US and its G6 partners fail to reach agreement on a joint statement at today’s meeting in Quebec, Canada. The pair also lost ground after German trade numbers indicated a narrower trade surplus in the biggest EU economy, with euro/dollar crawling down to 1.1748 (-0.41%) after [..]

European Open Preview – Dollar little changed as risk appetite takes a hit; G7 summit eyed for clues on trade outlook

Posted on June 8, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is up by a little over 0.1% on Friday, recovering some of the losses it posted in previous sessions. The euro is a touch softer following several days of advances, while the safe-haven Japanese yen is under buying pressure, extending the gains it posted yesterday as risk appetite took a hit. STOCKS: US equity [..]

US Open Preview – Dollar takes the back seat as euro, pound move forward

Posted on June 7, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The euro kept shining during the early European afternoon as yesterday’s comments by ECB officials raised speculation that the central bank was preparing to exit its quantitative program by the end of this year, with the announcement probably coming as soon as next week. Euro/dollar managed to peak at a fresh three-week high of 1.1837 before it fell to 1.1815 (+0.39%), being the best performer among its major peers. Against the yen, [..]

European Open Preview – Euro rebound rejuvenated as ECB teases taper; revised eurozone GDP numbers due

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

Here are the latest developments in global markets: FOREX: The US dollar index is 0.2% lower on Thursday, extending the losses it posted in the previous session as the euro continued to recover. The euro’s rebound was refueled by some ECB policymakers, who signaled their confidence in the economic outlook, and heightened speculation that an end-date for the QE program could be announced as soon as next week. STOCKS: Wall Street closed higher on Wednesday, shrugging off the mounting uncertainties around global [..]

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