Daily Market Analysis

European Open Preview – Dollar index stalls after touching new 2018 highs; BoE testimonies in focus

Posted on May 22, 2018 at 8:08 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 trading practically unchanged on Tuesday. It briefly touched its highest levels for 2018 on Monday as trade frictions between the US and China were perceived to be diminishing, though it later gave back all its gains to end the day nearly flat. The euro remains on the back foot overall, as the political situation [..]

US Open Preview – Euro falls down the stairs amid political risks

Posted on May 21, 2018 at 11:32 am GMT

Here are the latest developments in global markets: FOREX: The US dollar advanced considerably versus the Japanese yen on Monday (+0.46%) after the US Treasury Secretary Steven Mnuchin said on Sunday that the US trade war with China is “on hold”. Dollar/yen created a fresh 4-month high at 111.38, while the US dollar index added 0.31% to its performance, creating a 5-month high at 94.05. Pound/dollar plunged to a 5-month low of 1.3394 (-0.46%) ahead of key data this week which [..]

European Open Preview – Risk appetite boosted as US and China call ceasefire in trade war

Posted on May 21, 2018 at 8:17 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 0.3% higher on Monday, touching a fresh high for 2018. Meanwhile, the safe-haven Japanese yen continued to lose ground, weighed on by signs that trade tensions between the US and China are easing. STOCKS: Wall Street closed lower on Friday, for the most part. While the S&P 500 and the Nasdaq Composite [..]

US Open Preview – Canadian inflation awaited; trade talks loom in background

Posted on May 18, 2018 at 11:08 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index edged higher on Friday(-0.05%), approaching once again the 5-month high of 93.63. The greenback remains one of the best-performing currencies this week, drawing support from the surge in 10-year US Treasury yields. Dollar/yen jumped to a new 4-month high near the 111.00 handle, adding 0.17% to its performance today. Euro/dollar inched down to 1.1777 (-0.11%) and approaches the 2018 low of 1.1762. The pair is set to post the fifth [..]

European Open Preview – Trade talks back in the limelight; Canadian inflation data ahead

Posted on May 18, 2018 at 8:04 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower today, but by less than 0.1%, giving back some of the gains it posted yesterday. The yen is on the back foot too, declining more than 0.2% against the euro and 0.05% versus the dollar, following disappointing inflation data out of Japan overnight. STOCKS: US markets closed in the red on Thursday, weighed on by some remarks from US President Trump that he doubts the [..]

US Open Preview – US Treasury yields lead dollar versus yen to 4-month highs

Posted on May 17, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The US dollar is set to extend its gains for the fourth day in a row against the Japanese yen (+0.25%). The pair posted a fresh 4-month high of 110.73 during the early European session as the long-term US Treasury yields continued to rally, touching 3.12%, the highest level reached since 2011. The US dollar index tried to create further gains, moving higher by 0.03%. Euro/dollar fell by 0.14% so far on the day and [..]

European Open Preview – Pound bounces on Brexit news; Italian politics also on the watchlist

Posted on May 17, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower on Thursday, albeit by less than 0.1%, still hovering near the five-month highs reached earlier in the week. The US currency barely rose yesterday even though the yields on longer-term US Treasuries continued to climb, reaching fresh multi-year highs. Elsewhere, sterling jumped today after a media report on Brexit suggested the UK is willing to make concessions to avoid a hard border in Ireland. STOCKS: Wall [..]

US Open Preview – Dollar index peaks at fresh 5-month highs on rising Treasury yields

Posted on May 16, 2018 at 11:30 am GMT

Here are the latest developments in global markets: FOREX: The US dollar pared some of Tuesday’s gains that were posted after a rally in US treasury yields; 10-year Treasury yields hit as high as 3.095, the highest since 2011. Dollar/yen retreated by 0.18% after it marked a new 3-month high of 110.44 on yesterday’s US session. The US dollar index was moving higher on Wednesday by 0.25%, peaking at a fresh five-month high of 93.45. Eurozone’s inflation rate remained unchanged at [..]

European Open Preview – Dollar rally gets a second wind, buoyed by rising Treasury yields

Posted on May 16, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher on Wednesday but by less than 0.1%, extending the notable gains it posted yesterday, when it advanced against all major currencies. Solid US retail sales data pushed the yields of longer-term US bonds to fresh multi-year highs, breathing a second wind into the dollar’s latest rally. STOCKS: Major US indices tumbled yesterday, as the renewed rise in US yields sapped demand for stocks. Rising borrowing costs could [..]

US Open Preview – Euro, pound turn lower as dollar enjoys gains; eyes on US retail sales

Posted on May 15, 2018 at 11:33 am GMT

Here are the latest developments in global markets: FOREX: Stronger US long-term Treasury yields continued to underpin the dollar during the early European afternoon, sending dollar/yen slightly above the 110 key-level before a slip to 109.90 (+0.23%). The US dollar index pulled back from an almost two-week peak of 92.80 touched on Monday but was set to complete a second green day in a row, last trading at 92.75 (+0.18%). The greenback will be looking for direction from US retail sales [..]

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