Daily Market Analysis

Daily Market Comment – Sentiment sours as stimulus talks stall, virus cases surge

Posted on October 15, 2020 at 10:39 am GMT

Stocks retreat, dollar goes nowhere as Mnuchin plays down pre-election stimulus European covid cases go through the roof, but euro stands its ground UK signals it won’t abandon Brexit talks this week, pound jumps Aussie slides after RBA Governor fuels speculation for rate cut Stimulus talks stall, markets fall Global equity markets continue to correct lower, with the major US indices sliding yesterday and Asian bourses being a sea of red on Thursday, as the chances of a US relief [..]

Daily Market Comment – Lockdown fears running wild

Posted on October 14, 2020 at 8:06 am GMT

Dollar comes back to life as euro and sterling feel the lockdown blues Little progress in US stimulus talks also supports dollar, pressures stocks Overall, there are plenty of risks that markets are not fully appreciating Lockdown blues hammer euro and pound The European virus situation is getting worse by the day, with a surge in new cases and hospitalizations across the continent forcing many nations to go back into partial lockdown so that healthcare systems are not overwhelmed. The [..]

Daily Market Comment – Stocks and currencies tell a conflicting story

Posted on October 13, 2020 at 12:12 pm GMT

Equities cruise higher, back within breathing distance of record highs But FX doesn’t play ball – yen climbs, commodity currencies underperform Euro headed for trouble amid high infections and growth worries Today: US inflation data coming up, earnings season resumes Currencies don’t play along with stock rally The US stock market rallied furiously on Monday, with the tech-heavy Nasdaq 100 gaining 3.1% to come within breathing distance of its recent record highs, propelled higher by the likes of Apple (+6.4%) [..]

Daily Market Comment – Art of the Deal sends equities higher, torpedoes dollar

Posted on October 12, 2020 at 11:38 am GMT

White House bumps stimulus offer to $1.8 trillion, stock market cheers Kudlow hints this offer could be raised further, keeping optimism alive Dollar slides amid renewed deficit concerns, gold capitalizes ECB chief economist prepares the ground for more easing Markets cheerful as stimulus negotiations resume In an epic reversal after pulling out of the stimulus talks last week, Donald Trump came back to the negotiating table on Friday with a counteroffer of $1.8 trillion, sparking hopes that a deal is [..]

Daily Market Comment – Stimulus talks back on but White House chaos caps stock gains

Posted on October 9, 2020 at 9:02 am GMT

Trump flip-flops on stimulus bill, reviving hopes of pre-election fiscal boost But stocks up only moderately amid caution about talks and global recovery worries Dollar drifts lower, loonie soars ahead of jobs data as oil turns bullish Trump U-turns on relief package but uncertainty about deal lingers Talks between the White House and the Democrats on a new virus relief bill have restarted after President Trump reversed his decision from just two days earlier to end them. Trump had instead [..]

Daily Market Comment – Dollar slides, stocks climb on renewed stimulus hopes

Posted on October 8, 2020 at 8:57 am GMT

Stimulus deal not dead yet but confusion about size and timing keeps risk appetite in check Wall Street closes at one-month high as investors warm up to idea of Biden win Fed minutes lift Treasury yields but dollar sold off on improved sentiment Kiwi stabilizes after plunging on fresh negative rates speculation Markets undeterred by stimulus setback, see a deal in the offing Equities got off to a positive start on Thursday following a strong performance on Wall Street yesterday [..]

Daily Market Comment – Trump calls off stimulus talks, sinks Wall Street; dollar up

Posted on October 7, 2020 at 9:06 am GMT

Trump halts stimulus negotiations with Democrats, sends stocks spinning lower But losses cut short as Trump calls for standalone relief bills Dollar comes off highs, eyes FOMC minutes for fresh policy clues Markets not giving up on stimulus as Trump sows confusion Risk assets bounced back on Wednesday as investors questioned President Trump’s intentions for abruptly abandoning talks with the Democrats on a new coronavirus relief bill. A few hours after Trump put an end to the negotiations – where [..]

Daily Market Comment – Dollar steadies as Trump’s health, US stimulus in focus

Posted on October 6, 2020 at 8:49 am GMT

Trump is discharged from hospital but question marks remain about his health US fiscal stimulus edging closer but no deal yet Dollar firms slightly, equities subdued as road ahead still foggy Relief as Trump returns to the White House Markets were calmer on Tuesday as the panic over President Trump’s health subsided further while negotiations for a new coronavirus relief bill continued. Asian stocks got off to a positive start, lifted by news that Trump had been discharged from the [..]

Daily Market Comment – Equities recover as Trump keeps stimulus hopes alive

Posted on October 5, 2020 at 10:40 am GMT

Sentiment recovers on signs that stimulus deal is still in play Stocks rebound alongside crude oil, Japanese yen and gold retreat Markets to stay focused on ultimate game of ‘Deal or No Deal’ Coming up: ISM non-manufacturing and RBA policy decision Markets take solace from signs stimulus is coming Global markets opened on a cheerful note on Monday, emboldened by hopes that a relief package deal can still be brokered in America and that President Trump’s health is improving. The [..]

Daily Market Comment – Markets tank as Trump tests positive for covid, nonfarm payrolls coming up

Posted on October 2, 2020 at 8:55 am GMT

Equities sink, dollar jumps as President Trump gets coronavirus How does this affect election dynamics? Is Biden bad for markets? Sterling trades like a pinball machine amid conflicting Brexit headlines US jobs report is the main event today, European inflation data too Trump throws markets into disarray Global markets are tanking on Friday after US President Trump confirmed he has tested positive for covid-19, injecting another dose of uncertainty into election dynamics. Wall Street futures were already flashing red because [..]

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