Daily Market Analysis


Daily Market Comment – Nasdaq and gold take to the skies, dollar tanks

Posted on July 9, 2020 at 9:04 am GMT

Stocks and commodity currencies grind higher without much news Sinking dollar lifts all FX boats, pound and loonie capitalize the most Gold rally keeps rolling – has bullion changed roles with the dollar? Weekly US jobless claims today to reveal initial impact of re-closures Investors stick to crisis playbook, buy tech shares and gold News flow was rather limited on Wednesday, helping global markets to stay in a good mood since ‘no news is good news’ these days, with such [..]


Daily Market Comment – Markets pause to assess risks after leaping higher

Posted on July 7, 2020 at 9:21 am GMT

Currencies and equities in a more cautious mood Tuesday, as China-led euphoria peters out Dollar regains its footing but only mildly, aussie drops after Melbourne goes into full lockdown Risk/reward outlook for ‘risk trades’ seems quite unattractive from here Soaring Chinese stocks lift all boats, but enthusiasm fades Global markets staged a powerful rally to kick off the new week. Stock indices in most regions closed with solid gains while the defensive US dollar edged lower, with no real catalyst [..]


Daily Market Comment – Record NFP jump overshadowed by US virus surge

Posted on July 3, 2020 at 8:51 am GMT

US economy adds record 4.8 million jobs in June but virus jitters cap risk appetite Stocks pare gains, dollar pulled in opposite directions Rising caution may shift attention back to stimulus as US, EU decisions pending US jobs report smashes forecasts but fails to lift markets The latest nonfarm payrolls report did little to dent expectations of a V-shaped recovery as a record 4.8 million jobs were restored in America in June, beating forecasts of an increase of 3 million. [..]


Daily Market Comment – Dollar stumbles ahead of NFP; vaccine hopes shore up equities

Posted on July 2, 2020 at 8:30 am GMT

Dollar torn between upbeat data and US virus spike; NFP may decide fate Positive vaccine news helps breathe life into flagging stock market rally Gold retreats from highs as markets dismiss US-China tensions Dollar looks shaky as jobs report awaited Markets were mostly in risk-on mode on Thursday as the combination of positive economic indicators and potential coronavirus vaccines kept alive hopes of a strong recovery from the pandemic. But with US markets closed on Friday for Independence Day celebrations, [..]


Daily Market Comment – Gold soars on virus risks, softer dollar; US data awaited

Posted on July 1, 2020 at 8:41 am GMT

Gold extends bull run amid growing virus fears and US-China tensions; softer dollar helps too Stocks mostly positive as global recovery appears on track, but rally showing some signs of fatigue Markets await US ISM manufacturing and jobs data for direction Gold sets sights on $1800/oz as pandemic here to stay The safe-haven gold was scaling fresh 7½-year highs above $1785/oz on Wednesday even as investors maintained the view that the economic recovery from the pandemic will be a V-shaped [..]


Daily Market Comment – Virus concerns cast aside as upbeat data boosts sentiment

Posted on June 30, 2020 at 8:38 am GMT

Stocks rebound as risk aversion eases on positive data from China and the US But virus worries linger as Australia and the UK impose local lockdowns Dollar heads higher, eyes Powell testimony and more US data Pound hammered by Brexit and virus woes Risk appetite improves on recovery optimism Hopes for a V-shaped recovery were bolstered after encouraging data out of the United States and China over the past 24 hours showed that the growth revival remains on track in [..]


Daily Market Comment – Virus resurgence haunts stocks but dollar edges lower

Posted on June 29, 2020 at 8:30 am GMT

Markets start week in risk-off mode as virus surge halts reopening plans in the US Stocks slip, but less cautious mood in FX markets as dollar and yen pull back Pound bounces off lows as Brexit talks enter intensive phase Virus fears keep Wall Street on the back foot Worries that the world could be in the midst of a second Covid-19 outbreak continued to weigh heavily on market sentiment as the second quarter almost draws to a close. Stocks [..]


Daily Market Comment – Stocks jump into the green, but dollar doesn’t play along

Posted on June 26, 2020 at 8:40 am GMT

Investors ignore a litany of bad news, push stocks higher on deregulation hopes But FX retains a more cautious tone, dollar holds onto gains as US cases hit new record Texas and Florida “pause” their re-opening plans Rebalancing flows heading into quarter end could bite markets Stocks and dollar focus on different narratives The epic market battle between stimulus-driven bulls and virus-fearing bears seems set to end in a draw this week, as worries of a rapid resurgence in virus [..]


Daily Market Comment – Markets lose altitude as virus fears escalate

Posted on June 25, 2020 at 10:59 am GMT

Reality bites stock markets as US virus spike accelerates, dollar recovers Threats of new US tariffs against EU and dire IMF forecasts not helping mood Fed balance sheet reduction may be playing a role too Daily virus numbers will continue to dictate sentiment Acceleration in infections hampers recovery prospects Risk aversion gripped global markets once again on Wednesday after several American states reported another worrisome spike in virus cases and hospitalizations, pouring cold water on the cheerful narrative of a [..]


Daily Market Comment – Gold flies to new highs, RBNZ talks kiwi down

Posted on June 24, 2020 at 8:53 am GMT

Dollar retreats after encouraging PMIs turbocharge euro Gold capitalizes on weaker dollar, reaches heights last seen in 2012 Stocks inch higher led by tech, despite US virus spike and rising bankruptcies RBNZ expresses discomfort with exchange rate, kiwi obliges Gold takes advantage of softer dollar Global markets continue to be torn between conflicting narratives, as signs that the world economy has entered the recovery stage – with a little help from a tsunami of stimulus – clash with a worrisome [..]

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