Daily Market Analysis

US Open Preview – Euro continues recovery as Italy looks for early elections; BoC rate decision ahead

Posted on May 30, 2018 at 11:28 am GMT

Here are the latest developments in global markets: FOREX: The single currency rebounded on Tuesday’s 10-month low near 1.1500 against the greenback (+0.67%) as concerns about Italy’s political crisis remains in focus and there is a chance of new elections taking place on July 29. In data, economic sentiment in the Euro area came in slightly higher than expected in May at 112.5 but below the April’s mark of 112.7. Pound/dollar traded higher by 0.14% to 1.3269 following the 6-month low of 1.3203 that it posted on Tuesday. Dollar/yen rose above [..]

European Open Preview – Euro catches its breath after slide; Bank of Canada decides

Posted on May 30, 2018 at 8:03 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by roughly 0.1% on Wednesday, giving back some of the gains it posted yesterday, when it touched its highest point since early November. Meanwhile, although the euro posted considerable losses yesterday, it has rebounded somewhat today, trading higher by 0.3% versus the yen and 0.25% against the dollar. STOCKS: Wall Street was slammed yesterday, with all major US indices posting hefty declines as Italy’s political [..]

US Open Preview – Italian politics push euro to 10-month low versus the greenback; US consumer confidence due

Posted on May 29, 2018 at 11:08 am GMT

Here are the latest developments in global markets: FOREX: The euro continued to bleed as the European trading session unfolded, with euro/ dollar touching 1.1506 at its lowest, this being a nadir last experienced in July last year. Political uncertainty in Italy, and to a lesser extent in Spain, were seen as factors behind the common currency’s decline. The traditional safe-haven yen gained ground versus both the dollar and the euro, most notably the latter; euro/yen was down by more [..]

European Open Preview – Euro retreat in full swing as Italian political uncertainties dominate

Posted on May 29, 2018 at 7:47 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 – edged 0.2% higher on Tuesday, touching its best levels since November. The euro meanwhile remained on the back foot, as the increasing probability for early elections in Italy dampened the currency’s appeal. STOCKS: US markets remained closed on Monday in celebration of the Memorial Day holiday. They look set to open lower today, as futures tracking [..]

US Open Preview – Oil loses ground as Russia and Saudi Arabia discuss supply increases

Posted on May 25, 2018 at 11:37 am GMT

Here are the latest developments in global markets: FOREX: The US dollar rose 0.18% versus the yen after three straight days of declines. Meanwhile, the US dollar index jumped by 0.13% to 93.87. Euro/dollar fell by 0.09% and is set to complete the sixth week of declines in a row as concerns over Italy’s debt outlook weighed on sentiment. Pound/dollar moved lower by 0.21% to 1.3347 on Friday as investors eyed UK GDP data for signs of whether the BOE will raise interest rates. The British economy expanded 0.1% q/q [..]

European Open Preview – UK GDP and US durable goods due with geopolitics back in the spotlight

Posted on May 25, 2018 at 7:45 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 nearly 0.2% higher on Friday, ahead of a speech by Fed Chairman Jerome Powell. The index pulled back a little yesterday, mirroring a similar dip in longer-term US Treasury yields. STOCKS: US markets closed lower on Thursday, as news that President Trump had cancelled his summit with North Korea weighed on risk sentiment. The [..]

European Open Preview – Dollar advance halted by Fed signals; UK retail sales and ECB minutes in focus

Posted on May 24, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.1% on Thursday, after the Fed minutes downplayed expectations for three more rate increases this year. Note though, that the index touched its highest level for 2018 yesterday, before the minutes triggered a pullback. The yen continued to advance, while both the euro and sterling retreated following soft economic data. STOCKS: Wall Street closed higher yesterday despite signals from the White House that more tariffs [..]

US Open Preview – Data misses push euro, pound lower; FOMC meeting minutes ahead

Posted on May 23, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: The spur from optimism in US-China trade talk was weakened quickly today and the markets are trading lower. The Japanese yen surged broadly today and was trading as the strongest one against major currencies. Dollar/yen plunged by 1.12%, slipping below the 110.00 handle ahead of the FOMC minutes later in the day. However, the US dollar index moved higher by 0.27%, approaching again the 5-month high of 93.94. The Euro edged sharply lower by 1.58% versus the [..]

European Open Preview – Trump’s trade remarks sap risk appetite; EZ PMIs, UK CPI and Fed minutes on the horizon

Posted on May 23, 2018 at 7:55 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.1% higher on Wednesday ahead of the release of the minutes from the May Fed meeting, building on the modest gains it posted yesterday. Meanwhile, the Japanese yen rebounded yesterday and is on the front foot today, advancing 0.5% against the dollar and 0.6% versus the euro, as some “pessimistic” comments from US President Trump on trade dispelled expectations that the recent negotiations had borne fruit. STOCKS: [..]

US Open Preview – Pound gains on BoE rate hike comments

Posted on May 22, 2018 at 11:53 am GMT

Here are the latest developments in global markets: FOREX: The US dollar eased from the 5-month high of 111.39 against the Japanese yen (-0.10%) reached on Monday on the back of rising US Treasury yields and easing US-China trade tensions. The US dollar index was on the back foot as well, losing 0.34% after a touch at 94.05, the highest level marked since December. Pound/dollar rallied initially towards 1.3454 finding support from comments made by Bank of England policymaker Gertjan Vlieghe who [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms