Daily Market Analysis

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Daily Market Comment – China exports rise helps markets stabilize; yen holds near highs

Posted on August 8, 2019 at 8:23 am GMT

Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]

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Daily Market Comment – Kiwi plunges on shock RBNZ cut; stocks sell-off eases on Kudlow remarks

Posted on August 7, 2019 at 8:19 am GMT

New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]

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Daily Market Comment –Yuan steadies after US brands China currency manipulator; stocks slide again

Posted on August 6, 2019 at 8:18 am GMT

Yen and Swiss franc retreat after yuan steadies as US labels China a currency manipulator Global stocks extend slide as US-China tensions continue to heat up Aussie and kiwi firmer as RBA keeps rates on hold, RBNZ coming up next Euro perks up but pound under pressure Yuan off lows on PBOC midpoint The risk-off moves engulfing currency markets since President Trump’s decision last Thursday to slap more tariffs on Chinese goods eased on Tuesday with the help of a [..]

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Daily Market Comment – Yen and gold soar; yuan sinks as trade war savages markets

Posted on August 5, 2019 at 8:26 am GMT

Safe havens such as the yen and gold surge as heated trade tensions extend broad sell-off in risk assets Yuan breaks past 7 per dollar level as PBOC gives green light to a weaker currency US dollar mixed as Fed rate cut expectations rise again Market rout deepens, yen rallies    The fallout from the latest escalation in the US-China trade dispute continued to be felt across financial markets on Monday as investors sold off stocks and emerging market currencies [..]

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Daily Market Comment – Stocks sink as Trump escalates trade war; US payrolls due

Posted on August 2, 2019 at 8:17 am GMT

Equities plunge, yen skyrockets as trade war fears heighten Nonfarm payrolls may present a one-sided risk for the dollar today Chance of UK General Election rises as Johnson’s working majority slips Risk aversion takes over markets as Trump threatens new tariffs American equities erased some early gains to close about 1% lower yesterday, after the US President took the trade war with Beijing to the next level – announcing that he will impose a 10% tariff on all remaining products [..]

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Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:36 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

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Daily Market Comment – Fed rate decision dominates a busy agenda

Posted on July 31, 2019 at 7:51 am GMT

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 GMT, which will be followed by a press conference from Chairman Powell. The central bank is virtually certain to slash rates, so the real question [..]

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Daily Market Comment – Sterling pummeled by Brexit blues

Posted on July 30, 2019 at 8:37 am GMT

Sterling crumbles as no-deal rhetoric heats up – outlook still negative Bank of Japan takes no action, yen likes it German and US data due; trade talks resume Pound collapses as Boris plays ‘chicken’ with EU There’s no reprieve for the wounded British pound, which fell to a fresh 2½-year low against the dollar earlier today, following another round of worrisome Brexit rhetoric. Boris Johnson and his lieutenants reiterated that the Irish backstop is “dead”, with Foreign Secretary Raab saying [..]

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Daily Market Comment – Dollar lifted by US GDP, eyes Fed and trade talks; pound tumbles on no-deal Brexit risk

Posted on July 29, 2019 at 8:13 am GMT

US dollar at 2-month peak on US GDP beat, doubts about aggressive Fed easing cycle Cautious start to big week for central banks and US-China trade talks Pound tumbles to 28-month low as new UK PM sets ground for no-deal Brexit Dollar holds firm ahead of Fed The US dollar held onto Friday’s gains at the start of the trading week following the boost from better-than-expected US growth figures for the second quarter. The American economy grew by an annualized [..]

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Daily Market Comment – Euro rebounds from lows after ECB disappoints; dollar holds firm

Posted on July 26, 2019 at 7:58 am GMT

ECB pledges more stimulus but euro bounces back from 2-year lows as no change this month disappoints US dollar climbs to 2-month highs as odds of 50-bps cut fade on solid US data Pound heads back down again after EU rejects Johnson’s request to renegotiate backstop Euro off lows but subdued The euro was steadier on Friday following yesterday’s volatility in response to the European Central Bank’s highly anticipated monetary policy meeting. The ECB kept policy unchanged on Thursday, though [..]

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