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Daily Market Comment – RBNZ catapults kiwi higher; Trump decides on EU tariffs

Posted on November 13, 2019 at 9:35 am GMT

Kiwi outperforms as RBNZ surprisingly refrains from cutting rates Markets in a slight risk-off mood as trade doubts reemerge Today: Trump decides on EU tariffs, Fed chief Powell testifies, and US CPI data RBNZ surprisingly keeps rates unchanged, propels kiwi higher To the surprise of many, the Reserve Bank of New Zealand (RBNZ) kept its policy rate unchanged overnight, confounding forecasts and market expectations, as a rate cut was priced in with an ~80% probability. Even though policymakers kept the [..]

Daily Market Comment – RBNZ to slash rates; more blues for the kiwi?

Posted on November 12, 2019 at 9:35 am GMT

Kiwi underperforms as investors bet that RBNZ will cut rates overnight Pound rejoices as Brexit party warms up to Tories, but risks seem tilted to the downside UK jobs data, Germany’s ZEW survey, and Fed-speak today RBNZ set to cut rates after inflation expectations drop The Reserve Bank of New Zealand (RBNZ) will announce its rate decision early on Wednesday, at 02:00 GMT. A rate cut seems quite likely, after a survey released overnight showed that the nation’s 2-year inflation [..]

Daily Market Comment – US stocks cruise to new records, but Hong Kong weighs

Posted on November 11, 2019 at 9:41 am GMT

Risk aversion strikes back as Hong Kong protests intensify and trade doubts resurface Dollar advances without new catalysts, loonie stumbles on weak data UK GDP numbers due, but sterling keeps its sights on election polls Hong Kong jitters send global equities back down, lift yen US stock markets levitated to new records on Friday, undeterred by some remarks from President Trump that he hasn’t decided yet whether he is willing to roll back tariffs on China to get the ‘phase [..]

Daily Market Comment – Dollar braces for nonfarm payrolls; risk aversion returns

Posted on November 1, 2019 at 9:25 am GMT

US payrolls and ISM index could shape the dollar’s fortunes today Risk appetite dampened by reports China won’t compromise on ‘real’ trade issues Can US payrolls keep the besieged dollar from stumbling further? The spotlight today will fall on the US employment report for October, as investors scramble to figure out whether the Fed can truly afford to ‘pause’ its rate-cutting cycle, or whether that is merely wishful thinking. Likewise, the ISM manufacturing PMI for the same month will reveal [..]

Daily Market Comment – Fed, BoC, and BoJ decisions; UK election confirmed

Posted on October 30, 2019 at 9:22 am GMT

Fed to slash rates today but may signal a pause after this cut, lifting the dollar BoC set to stand pat, unlikely to alter its neutral stance BoJ decides early on Thursday – close call whether it will cut UK General Election officially called for December 12 Fed virtually certain to cut rates, but will it also signal a pause? It’s an extremely busy day, with the main event being the Federal Reserve policy decision at 18:00 GMT, which will [..]

Daily Market Comment – Sterling jumps on Brexit hopes; Trump sanctions Turkey

Posted on October 15, 2019 at 8:33 am GMT

Pound shoots up on hopes for a Brexit deal this week Brexit optimism lifts stock markets too, but trade concerns linger Trump hits Turkey with tariffs and sanctions, yet lira climbs Barnier says Brexit deal still possible this week, pound charges higher The Brexit saga remains the dominant theme in the FX market. Investors are holding their breath to see whether a deal will be reached, after the negotiations intensified in recent days. This morning, chief EU negotiator Barnier said [..]

Daily Market Comment – Symbolic trade deal lifts sentiment; sterling cools

Posted on October 14, 2019 at 8:24 am GMT

US and China reach ‘mini’ trade deal, but markets remain skeptical Pound pulls back as DUP signals it might not support Boris’s deal Loonie soars after Canadian jobs data beat estimates Trade truce lifts stocks, sends yen lower Global risk appetite got a boost on Friday, with stocks edging higher while safe havens like the Japanese yen surrendered ground, after the world’s two largest economies reached a truce in their fiery trade battle. This ‘limited’ trade agreement will see China [..]

Daily Market Comment – Stocks crash as recession fears intensify

Posted on October 3, 2019 at 9:01 am GMT

Investors back on recession watch; all eyes on the ISM non-manufacturing PMI today Speculation for Fed rate cuts no longer supports stocks – paradigm shift? Sterling yawns as markets say Brexit proposal is not a needle-mover Equities dive, yen roars back as investors grapple with recession worries Wall Street recorded substantial losses on Wednesday, with the S&P 500 (-1.8%) falling sharply and Asian markets being a sea of red today, as traders continued to cut their risk exposure amid worries [..]

Daily Market Comment – Dollar soars as impeachment worries fade, trade optimism returns

Posted on September 26, 2019 at 8:35 am GMT

Renewed trade optimism and fading impeachment concerns lift dollar & stocks One of the biggest ECB hawks resigns; Draghi speaks today RBNZ Governor plays down prospect of QE, lifts kiwi Dollar and equities shoot up as Trump says a trade deal may be close Global risk sentiment improved drastically on Wednesday, as a combination of optimistic trade remarks and diminishing fears of a US presidential impeachment saw investors rotate back into riskier assets. The market’s mood started to improve after [..]

Daily Market Comment – Euro reels after dismal PMIs, but don’t panic yet

Posted on September 23, 2019 at 8:26 am GMT

Euro drops after German PMIs suggest recession ahead – but there may be good news there too Trump’s trade remarks dampen risk appetite Oil prices jump on reports that Saudi output may be offline for longer Euro reels as preliminary PMIs paint a gloomier picture The single currency is on the back foot early on Monday, following the release of the preliminary French and German PMIs for September, which signaled that more pain lies ahead for the European economy. All [..]

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