All Articles Tagged - US500

Daily Market Comment – Mood sours as yields creep up again, UK PM resigns

Posted on October 21, 2022 at 9:27 am GMT

Mixed earnings can’t save Wall Street as hawkish Fed talk pushes up yields UK yields are an exception, retreating after Truss quits as PM; pound briefly spikes Dollar crosses 150 yen threshold as BoJ too busy snapping up bonds Markets contemplate 5% Fed funds rate Wall Street’s latest attempt at a rebound has run into another wall as a mixed set of corporate earnings have left stocks vulnerable to renewed bets of aggressive tightening by the Federal Reserve. Philadelphia Fed [..]

Daily Market Comment – Yen plunge continues; UK inflation returns to double digits

Posted on October 19, 2022 at 8:10 am GMT

Yen extends freefall as traders defy intervention warnings Pound slides after UK inflation returns to double digits Loonie traders await inflation numbers as well Equities extend recovery on better earnings results Intervention warnings intensify as dollar nears 150 yen The US dollar traded slightly lower against most of the other major currencies on Tuesday but rebounded somewhat today. The only currencies against which the greenback gained some ground yesterday was the Japanese yen and the British pound, with the former [..]

Daily Market Comment – Stocks edge up, pound recovers after tumultuous trading

Posted on October 17, 2022 at 9:29 am GMT

Pound’s rollercoaster ride not over as new UK finance minister’s statement awaited Dollar gets off to a softer start despite elevated Fed rate hike bets, yen in focus US equity futures rise but cautious mood prevails Pound looks to new chancellor to restore some order There was no escaping the political drama at Westminster as the pound remains gripped by the unfolding crisis sparked by the Truss government’s irresponsible policies. Investors initially cheered the reports on Friday that Prime Minister [..]

Daily Market Comment – Dollar firms as Fed’s hawkish drumbeat gets louder ahead of NFP

Posted on October 7, 2022 at 9:10 am GMT

Fed destroys all hopes of an early pivot even before latest jobs report is out Dollar climbs to one-week high as stocks turn negative again Pound under renewed pressure, yen won’t budge from the 145 level Hawkish Fed takes shine off September jobs report After some very mixed readings on the US economy this week, the latest nonfarm payrolls report will take centre stage today, with investors hoping for some signs of a cooldown in the red-hot labour market. The [..]

Daily Market Comment – Markets shrug off OPEC+ cut and solid US data, await US jobs report

Posted on October 6, 2022 at 9:04 am GMT

Oil rally fizzles out despite steep output cut by OPEC+ as impact seen limited Yields climb as Fed pivot hopes fade further after upbeat US data But Wall Street holds judgement, pares losses as investors look to payrolls report OPEC+ cut adds to winter energy concerns OPEC and its non-OPEC partners decided to cut oil production by two million barrels per day on Wednesday in a bid to stem the decline in prices, which have fallen by more than 30% [..]

Daily Market Comment – Stocks catch fire on Fed hopes, but dollar halts slide

Posted on October 5, 2022 at 9:34 am GMT

Drop in US job openings points to cooling labour market, boosts risk appetite Stocks stage massive rally but may have hit a snag as Fed stands firm Dollar retraces some losses but kiwi bucks the trend after RBNZ hike Oil prices steady ahead of OPEC+ output decision Risk rally starts to fade amid doubts about Fed pivot The market euphoria around the hopes that the Fed is nearing a turning point with its policy tightening began to fade slightly on [..]

Daily Market Comment – Pound crashes, stocks pummelled after UK budget

Posted on September 26, 2022 at 9:23 am GMT

Pound leads declines in FX markets, approaches parity, as UK budget sparks panic UK yields soar, Italian yields jump too as far-right win adds to uncertainty Dollar scales fresh highs, stocks sink but some signs of recovery today UK budget gets big thumbs down from investors Markets reacted in the worst possible way to the UK’s economic plan unveiled on Friday, sending the pound to rock-bottom levels against the US dollar, while dumping UK gilts. Chancellor Kwasi Kwarteng announced the [..]

Daily Market Comment – Fed hike, Powell’s recession warning roil markets; dollar shoots up

Posted on September 22, 2022 at 9:13 am GMT

Dot plot signals Fed not done with 75 bps hikes, Powell warns of pain ahead S&P 500 goes back into bear market, dollar destroys everything in its path Yen slips past 145 after BoJ doesn’t flinch, but jumps after intervention SNB hikes by 75 bps, BoE expected to follow suit, gold see-saws Fed declares war on inflation, spooks markets The Federal Reserve delivered its third consecutive 75-basis-point rate increase on Wednesday and flagged more sharp hikes in the remainder of [..]

Daily Market Comment – Dollar at fresh highs ahead of Fed as Russia jitters sink euro

Posted on September 21, 2022 at 9:09 am GMT

Russia-Ukraine tensions flare up, knocking the euro and boosting safe havens Stocks subdued but losses contained as investors await Fed decision Yields fall back slightly and gold climbs on Russia worries Tense mood amid Fed and geopolitical risks The US dollar extended its gains on Wednesday, while stocks stayed largely in the red as investors weighed the risks from the Fed’s upcoming policy decision as well as the possible impact from Russia’s latest warmongering, which is adding to the [..]

Daily Market Comment – Hopes of softer inflation report lift Wall Street, hurt dollar

Posted on September 13, 2022 at 9:14 am GMT

Investors bet that August CPI data will confirm inflation has peaked in the US Wall Street rallies for a fourth day, dollar selloff accelerates Euro and pound maintain positive momentum despite doubts over energy plans Market optimism ahead of US CPI Risky assets were either extending or holding onto their gains on Tuesday as investors awaited the latest inflation report out of the United States due at 12:30 GMT. After last month’s bigger-than-expected drop in the annual CPI rate to [..]

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