Daily Market Analysis

European Open Preview – Dollar rebounds ahead of key events; UK employment data eyed

Posted on May 15, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.2% higher on Tuesday, building on the gains it recorded yesterday on the back of a surge in longer-term US bond yields. The Japanese yen, which is seen as a safe haven asset, is on the back foot as trade risks have moved out of the spotlight and focus has turned to potential solutions through negotiations. STOCKS: Wall Street closed higher on Monday, though the gains were [..]

US Open Preview – Euro heads higher as political noise eases

Posted on May 14, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: The euro headed for a third consecutive day of gains on Monday although the dollar posted some gains as well against the yen, with investors keeping a close eye on political developments in Italy, where a coalition government may be formed earlier than expected. Euro/dollar rose to to 1.1982 (+0.33%), while dollar/yen touched 109.57 (+0.16%). The US dollar index fell to 92.29 (-0.26%), set to complete a third red day in a row. Pound/dollar rose by 0.34% ahead of Tuesday’s employment figures out of the [..]

European Open Preview – Trump extends “olive branch” to China; Italian politics monitored

Posted on May 14, 2018 at 7:52 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by 0.15% on Monday, extending the losses it posted on Friday. The disappointment in the US core CPI last week appears to have taken the wind out of the greenback’s sails, with yields on 10-year US Treasuries unable to sustain a foothold above the widely-touted 3.0% level. STOCKS: US markets closed mostly higher on Friday. The Dow Jones and the S&P 500 rose by 0.37% and 0.17% respectively [..]

US Open Preview – Dollar ticks lower; Canadian jobs data in sight

Posted on May 11, 2018 at 11:02 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index edged lower on Friday (-0.17%), extending losses from Thursday on the back of disappointing US inflation data. Dollar/yen was down 0.09%, with little in the way of news or developments to guide price action. Euro/dollar inched up to 1.1943 (+0.24%), while pound/dollar touched 1.3570 (+0.39%), with the latter licking its wounds following a sharp decline on Thursday, after the Bank of England appeared cautious about near-term rate [..]

European Open Preview – Cautious BoE sends the pound tumbling; Canadian jobs data on the horizon

Posted on May 11, 2018 at 7:39 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, traded 0.1% higher on Friday, recouping some of the losses it posted on Thursday following weaker-than-anticipated US inflation data. The British pound recorded hefty losses on Thursday too, after the BoE played down expectations for a near-term rate increase. STOCKS: Wall Street raced higher yesterday, after disappointing US inflation figures calmed the nerves of investors worried that the Fed may raise [..]

US Open Preview – Pound rebounds to 1-week highs ahead of BoE rate decision; oil reaches fresh peaks

Posted on May 10, 2018 at 10:58 am GMT

Here are the latest developments in global markets: FOREX: Sterling recovered earlier losses ahead of the BoE rate decision later today, bouncing up to a 1-week high of $1.3616 (+0.46%) despite data on the UK’s industrial production and the trade deficit coming in worse than expected and shedding a dark cloud around the country’s economic outlook. The euro gained some ground, rising to $1.1882 (+0.28%), while the dollar eased to 109.62 (-0.09%) against the yen. However, rising long-term US Treasury yields continued to underpin the greenback at a time of increasing geopolitical risks [..]

European Open Preview – Kiwi tumbles; BoE decision and US inflation in focus

Posted on May 10, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was practically flat on Thursday, ahead of the release of the US CPI data for April at 1230 GMT. Kiwi/dollar plunged nearly 1.0% overnight, after the RBNZ kept its policy unchanged but shifted to a more dovish bias, keeping the possibility of a rate cut on the table. Sterling/dollar traded 0.2% higher, as investors awaited the BoE’s rate decision today at 1100 GMT. STOCKS: Wall Street closed higher [..]

US Open Preview – Safe havens gain little despite rising Iran-US tensions; RBNZ rate decision next

Posted on May 9, 2018 at 11:07 am GMT

Here are the latest developments in global markets: FOREX: Safe-haven currencies did not gain much after Trump announced the withdrawal of the US from the 2015 Iran nuclear deal and expressed his plans to impose stricter sanctions on the country. Although investors were worried that political tensions between Europe, the US, and the Middle East could escalate, they did not increase their stakes on safe-haven investments much. Instead, they remained optimistic on the dollar as they are widely expecting the Fed to proceed with further monetary tightening later this [..]

European Open Preview – Dollar and oil continue marching higher as geopolitics dominate attention

Posted on May 9, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was nearly 0.3% higher on Wednesday, touching its highest level in four-and-a-half months, and extending the significant gains it posted on Tuesday on the back of a rebound in longer-term US Treasury yields and particularly strong JOLTS data. STOCKS: Major US indices closed practically flat on Tuesday, in the aftermath of the US decision to leave the Iran nuclear deal. The Nasdaq Composite and the Dow Jones managed to climb 0.02% [..]

US Open Preview – Dollar index breaks 93 key-level ahead of Trump’s nuclear decision

Posted on May 8, 2018 at 11:18 am GMT

Here are the latest developments in global markets: FOREX: The euro extended its losses against the dollar early in the European session as investors shorted their positions on the currency amid uncertainties surrounding the Eurozone’s economic performance, sending euro/dollar to a fresh 4-month low of 1.1870 (-0.41%). Pound/dollar was also on the back foot, slipping to 1.3509 (-0.35%) after the British Halifax house price index fell by more than expected on a monthly basis. Brexit risks were pressuring the pair as [..]

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