Daily Market Analysis

US Open Preview – Sterling struggles as Brexit fears loom; stocks down; dollar & loonie gather attention

Posted on December 5, 2017 at 12:11 pm GMT

Here are the latest developments in global markets: Forex: The Australian dollar continued to trade around three-week highs at $0.7645 (+0.63%) following upbeat data on retail sales and the RBA’s decision to keep rates steady at record low levels. In the Eurozone though, retail sales disappointed markets with the measure diving unexpectedly to a three-week low as food prices fell sharply. Euro/dollar retreated in the wake of the data but erased its losses afterwards, trading flat at $1.1872. Sterling dipped to a five-day [..]

European Open Preview – Aussie boosted by retail sales while tech selloff spreads to Asia

Posted on December 5, 2017 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The RBA held rates unchanged on early Tuesday as expected, but the aussie hit a three-week high following upbeat retail sales figures which pointed to an improved economic outlook. The kiwi also posted a strong rebound, erasing yesterday’s losses after the RBNZ governor said that the central bank had less leverage over inflation. Sterling was on the backfoot as the UK Prime Minister failed to satisfy the EU on Brexit elements, while the [..]

US Open Preview – Pound in shape after positive Brexit signals; stocks up; US tax updates eyed; US factory orders awaited

Posted on December 4, 2017 at 12:48 pm GMT

Here are the latest developments in global markets: Forex: Sterling rallied above 1.35 against the dollar and touched a fresh one-month high versus the euro after EU parliamentary members of the Brexit group said there was a “very good chance” of a deal and that May’s meeting with the President of the European Commission could resolve main issues. The euro was on track to post a second red daily candle on the back of a stronger dollar despite the Eurozone’s Sentix investors confidence index in [..]

European Open Preview – Dollar and equities sentiment upbeat; market awaits Brexit meeting

Posted on December 4, 2017 at 8:41 am GMT

Here are the latest developments in global markets: FOREX: The dollar bounced to a 2-½ -week high against the yen during Asian trading following the approval of the tax overhaul bill by the Senate on Saturdaydespite persisting political noise in the country. Consequently, the dollar’s strength pushed other currencies lower, with the kiwi being the worst performer of the session. STOCKS: The Nikkei 225 finished 0.5% lower and the Hang Seng was up by 0.5% minutes before the day’s close; Euro [..]

US Open Preview – Pound slips; stocks decline; US tax vote awaited; Canada’s GDP growth eyed

Posted on December 1, 2017 at 12:40 pm GMT

Here are the latest developments in global markets: FOREX: The pound turned to be the worst performer among major currencies despite impressive manufacturing PMI figures, trading below the $1.3500 key level after touching a fresh two-month high of 1.3548 early in the Asian trading (-0.25%). Eurozone’s manufacturing PMI stood at multi-year highs, but the euro pared earlier gains, falling back to 1.1900. Dollar/yen remained flat at 112.33, while dollar/loonie was steady at 1.288. The kiwi overperformed its peers, jumping to [..]

European Open Preview – Pound continues to impress; US tax bill vote, Canadian GDP & employment generating excitement

Posted on December 1, 2017 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar retained its strength against the yen, trading near a 1-½ -week high, finding support from rising US Treasury yields, while the euro was last flat on a weekly basis versus the greenback after advancing in the three preceding weeks. Pound/dollar stretched its uptrend to a fresh two-month high amid hopes that the EU and the UK were preparing the ground to take Brexit talks to the next level, entering [..]

US Open Preview – Euro bears in charge; European stocks in green; eyes on US PCE inflation index & OPEC meeting

Posted on November 30, 2017 at 12:20 pm GMT

Here are the latest developments in global markets: Forex: The euro dived to a one-week low versus the dollar and approached a one-month low against the pound after flash inflation estimates out of the Eurozone inched below expectations in November, whereas the block’s unemployment rate ticked down, hitting fresh multi-year lows. Pound/dollar was on track to post a third straight green daily candle, while the kiwi was the worst performer amid weakening business sentiment. Stocks: European stocks were posting gains. The STOXX 600 index was 0.57% up, the German Dax [..]

European Open Preview – Pound shines on Brexit hopes; tech stocks decline; OPEC meeting, US & eurozone inflation take the stage

Posted on November 30, 2017 at 8:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar was firmer against its major peers but headed for a monthly loss as a rising pound and a stronger euro capped gains arising from investors’ positive sentiment on the US economy despite ongoing geopolitical tensions in the Korean peninsula. Against the yen, the greenback hit a fresh one-week high, while it gained the most relative to the kiwi. STOCKS: The Nikkei 225 closed 0.6% higher and the Hang Seng [..]

Forex Market Review (European Session) – Dollar and pound march higher; euro extends declines

Posted on November 29, 2017 at 3:21 pm GMT

The US dollar and the British pound remained the day’s biggest winners in European trading on Wednesday on increased hopes of big tax cuts in the United States and the UK and the EU edging closer to a deal on the Brexit divorce terms. Most majors came under pressure from the stronger greenback, including the euro, which headed for a third straight day of losses, but the resurgent pound capped the dollar index’s gains. European equities headed higher after another [..]

Forex Market Review (Asian Session) – Dollar ignores North Korean missile; pound rallies on reports of Brexit bill agreement

Posted on November 29, 2017 at 8:46 am GMT

The pound rallied on foreign exchange markets on reports that the UK and the EU had agreed on a Brexit bill while the US dollar and risk sentiment more generally were helped by the passage of the Republican tax cut package through a Senate committee. These developments helped markets shake off worries about a new missile test from North Korea. The North Korean military tested a new type of missile which flew higher than any other previous projectiles launched by [..]

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