Daily Market Analysis

US Open Preview– Euro stalls ahead of ECB policy meeting; oil hits fresh 3-year highs

Posted on January 25, 2018 at 12:38 pm GMT

Here are the latest developments in global markets: FOREX: The dollar stalled its downtrend near today’s 4 ½ -month lows versus the yen, last seen at 108.97 (-0.16%), and remained flat close to 3-year lows of 89.06 against a basket of currencies as traders continued to digest the comments made by the US Treasury Secretary who said that a weaker dollar is more attractive for trade purposes. Pound/dollar slipped to 1.4252 (+0.08%) during early European trading hours after breaking 1.4327 – [..]

European Open Preview – Sterling bulls go into overdrive; ECB meeting in focus

Posted on January 25, 2018 at 9:07 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded marginally lower on Thursday, extending the significant losses it posted on Wednesday. Meanwhile, the British pound skyrocketed, supported by strong jobs data and increasing optimism that Britain can secure a favorable Brexit deal. STOCKS: Asian markets were mostly in the red. Japan’s Nikkei 225 and Topix indices fell 1.1% and 0.9% respectively, weighed on by the risk of an escalation in US-China trade tensions and a stronger [..]

US Open Preview– Sterling shines above $1.41; New Zealand reports on inflation

Posted on January 24, 2018 at 12:37 pm GMT

Here are the latest developments in global markets: FOREX: Better than expected employment readings and growing hopes of a softer Brexit pushed pound/dollar to 1.4151 (+1.04%) during early European trading hours and led euro/pound down to a 5-week low of 0.8746 (-0.75%). Euro/dollar edged up to fresh 3-year highs at 1.2355 (+0.28%) after Eurozone’s Markit composite PMI surprisingly hit a new all-time high. On the other hand, dollar/yen extended losses towards a 4 ½-month low of 109.36 and the dollar index [..]

European Open Preview – Dollar losing streak continues; UK employment and wage growth data due

Posted on January 24, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded nearly 0.2% lower on Wednesday, extending the losses it posted yesterday amid concerns of a potential escalation in trade tensions with China. STOCKS: Japanese equities corrected lower, with the Nikkei 225 and the Topix indices closing down by 0.8% and 0.5% respectively, as the latest surge in the yen took its toll on the nation’s markets. That said, both indices still stand near their corresponding 27-year highs. In [..]

US Open Preview– Yen gains ground despite dovish Kuroda; European stocks hit new highs

Posted on January 23, 2018 at 12:45 pm GMT

Here are the latest developments in global markets: FOREX: The yen posted a strong rally towards an intra-day high of 110.38 (+0.38%) per dollar during early European trading hours. This came after a decline earlier in the day when the BOJ chief, Haruhiko Kuroda, downplayed plans on stimulus reduction. Upbeat data on Eurozone’s ZEW economic sentiment offered little for the euro, with euro/dollar recovering to 1.2256 (-0.13%). Pound/dollar dipped into losses, falling to 1.3944 (-0.30%) after touching 1.4000 during the Asian session. The [..]

European Open Preview – Yen whipsaws after BoJ and aussie tumbles on trade risk as world leaders gather in Davos

Posted on January 23, 2018 at 8:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded slightly higher on Tuesday, in the aftermath of Congress voting for a temporary funding bill, thereby ending the US government’s partial shutdown. STOCKS: Equities were in the green across the board. Japanese markets skyrocketed, with the Nikkei 225 and the Topix closing higher by 1.3% and 1.0% respectively; both indices reached fresh 27-year highs. In Hong Kong, the Hang Seng surged by 1.35%, breaking another all-time high, [..]

US Open Preview– Dollar pressured as government shutdown weighs; European stocks flat

Posted on January 22, 2018 at 12:43 pm GMT

Here are the latest developments in global markets: FOREX: The dollar remained under pressure against its major counterparts during the European afternoon as the government shutdown on Friday limited any buying interest for the currency, driving the dollar index down to 90.43 (-0.13%). Dollar/yen edged down to 110.68 after attempting to break above the 111 key-level, with the focus being on the BOJ’s policy decision on Tuesday. Euro/dollar reversed earlier losses, rising to 1.2253 (+0.27%) as political concerns in Germany faded, while pound/dollar managed to crawl back to [..]

European Open Preview – Markets largely unfazed by US government shutdown; German politics in focus

Posted on January 22, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index opened with a small negative gap on Monday after news that the US government shut down on Friday, but managed to recover its losses to trade marginally higher in the following hours. STOCKS: Japanese markets were in the green today, albeit not by much. The Nikkei 225 and the Topix indices closed up by 0.03% and 0.1% respectively. In Hong Kong, the Hang Seng is 0.4% higher, rising to a [..]

US Open Preview – Dollar index holds losses on funding bill uncertainty; European stocks hit fresh highs

Posted on January 19, 2018 at 12:43 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index remained pressured near three-year lows, at 90.34 (-0.16%), as investors were waiting for US Senators to prevent a potential government shutdown today. Traders were also pricing that the dollar might lose steam versus its peers if other central banks follow the Fed by tightening monetary policy. Dollar/yen lost 0.38%, retreating to an intra-day low of 110.48. Pound/dollar reversed today’s gains, edging down to 1.3873 after monthly retail sales in the UK [..]

European Open Preview – Dollar retreats again while oil pulls back from highs; UK retail sales in focus

Posted on January 19, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Friday, after also trading lower yesterday, even though yields on longer-term US Treasuries were on the rise. STOCKS: Asian markets were in a sea of green today. Japan’s Nikkei 225 and Topix indices were up by 0.2% and 0.7% respectively, both hovering near multi-decade highs. In Hong Kong, the Hang Seng index was up 0.1% – touching its highest on record – while in [..]

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