Daily Market Analysis

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Daily Market Comment – Dollar selloff eases; gold pulls back after setting fresh record

Posted on July 28, 2020 at 8:52 am GMT

Dollar crawls higher as Republicans finally unveil new stimulus proposal Gold touches $1,980/oz before pulling back, eyes dovish Fed Wall Street turns positive ahead of key earnings, likes weaker dollar Dollar attempts to end losing streak There was some respite for the US dollar on Tuesday as the heavy selling that has sunk the currency to more than two-year lows eased a little. The dollar index fell for the seventh straight session on Monday as signs of a faltering recovery [..]

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Daily Market Comment – Gold reaches for the sky, euro soars too as dollar sags

Posted on July 27, 2020 at 8:51 am GMT

Uncertainty about US outlook pushes dollar to 22-month low, lifting gold and euro Precious metal hits all-time high as Sino-US tensions boost haven demand Stocks steadier after selloff; earnings and FOMC meeting in focus US virus cases could be slowing but dollar still rattled The US dollar plumbed fresh lows on Monday, slumping to the lowest in nearly two years against a basket of currencies, as investors shunned the world’s number one reserve currency in favour of the traditional safety [..]

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Daily Market Comment – Concerns the US recovery is stalling ripple through markets

Posted on July 24, 2020 at 8:47 am GMT

Investors push the ‘risk off’ button amid faltering US recovery and monopoly probes into big tech Stocks pull back alongside commodity currencies, yen and gold climb But dollar can’t catch a break – strong euro and Fed expectations in play? Overall, this seems like a correction, not a trend reversal Risk aversion makes a rare comeback Global markets finally took note of the many risks around them on Thursday, amidst clearer signs that the US recovery is stalling, seething US-China [..]

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Daily Market Comment – Euro takes no prisoners, dollar falls apart

Posted on July 23, 2020 at 9:03 am GMT

Dollar slide accelerates despite escalating US-China tussle, euro takes flight Markets generally in a cheerful mood, helped by signs Congress is moving closer to a compromise Gold trades like a rocket amid tanking dollar, geopolitical unrest, and stimulus hopes Euro unchained The currency market continues to be dominated by the resurgent euro, which has been liberated from its fiscal shackles after EU leaders took a step closer towards risk sharing this week. Since FX is a zero-sum game in the [..]

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Daily Market Comment – Soaring euro eyes EU fiscal boost; stocks mixed

Posted on July 22, 2020 at 12:22 pm GMT

Euro scales 4-month peak as EU leaders close in on virus rescue deal More restrictions as virus cases continue to surge globally Stocks get off to a mixed start as earnings season set to heat up Hopes rise for EU fiscal stimulus; euro flies No deal yet but the euro is soaring on positive signs that European Union leaders are close to reaching a compromise on how to allocate a €750 billion recovery fund to assist virus-stricken member states. In [..]

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Daily Market Comment – Euro flatlines but stocks lifted by vaccine and stimulus progress

Posted on July 22, 2020 at 12:20 pm GMT

EU strikes compromise deal on a virus recovery fund but euro pares gains Positive vaccine headlines drive Nasdaq to record close as key earnings loom Win-win situation for gold as it climbs to 9-year highs Focus turns to talks on US fiscal package and Brexit; dollar sags but pound upbeat Europe gets its fiscal bazooka; euro pauses for breath European Union leaders ended a marathon summit on Tuesday with a classic fudge as a compromise deal that significantly waters down [..]

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Daily Market Comment – US dollar clubbed as euro cruises higher, gold glitters

Posted on July 22, 2020 at 12:17 pm GMT

Euro ascends after landmark EU deal, mostly to the detriment of the dollar Sinking dollar lifts all other boats – pound, commodity currencies, gold But some discouraging signals from the US Senate upset stocks Euro takes to the skies Global markets remained in a risk-on mood after the marathon-like negotiations between EU leaders finally bore fruit yesterday, resulting in a deal that will see substantial sums being funneled into the economies most devastated by the crisis. Even though the deal [..]

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Market Comment – Fears grow about virus surge but stimulus hopes put a lid on risk-off

Posted on July 17, 2020 at 8:41 am GMT

US daily virus tally tops 77,000; escalation in Australia and Japan also worries investors Stocks tread water but stimulus and vaccine hopes keep bull market alive Euro on the backfoot ahead of EU stimulus decision No letup in new virus cases yet A continued surge in the number of new coronavirus cases being reported in hotspots around the world has taken the steam out of the risk rally this week, with not even robust data out of China and the [..]

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Daily Market Comment – Dollar edges up, stocks slip as recovery doubts set in

Posted on July 16, 2020 at 8:51 am GMT

China’s GDP bounces back but signs of uneven recovery dampen sentiment White House’s tough line on China also a drag on risk assets Euro softer ahead of ECB; Stocks eye US earnings and retail sales for direction China returns to growth but weak spending worries markets As far as V-shaped recoveries go, China’s economic recuperation from the coronavirus couldn’t look more V-shaped. Gross domestic product (GDP) jumped by 11.5% over the quarter to June after collapsing by almost 10% in [..]

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Daily Market Comment – Euro surges, stocks bounce back amid fresh vaccine hopes

Posted on July 15, 2020 at 8:33 am GMT

Vaccine hopes boost risk assets; Wall Street selloff is over before it even began Euro and aussie charge ahead; pound and loonie try to catch up Oil holds its nerve as OPEC+ set to ease production cuts Mixed earnings overshadowed by promising vaccine results Global equities were back in bullish mode on Wednesday after a brief wobble earlier in the week had some investors worried that this could be the start of a long overdue correction in the markets. However, [..]

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