Daily Market Analysis

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Daily Market Comment – Iran tensions rattle stocks, boost oil

Posted on July 22, 2019 at 8:12 am GMT

Stocks pull back, oil climbs as Iran escalates tensions with UK Dollar outperforms after Fed’s Bullard downplays prospect of ‘double’ cut Big week for euro, with a crucial ECB meeting on Thursday US equities retreat, oil rebounds after Iran seizes British ship Geopolitical headlines rattled markets late on Friday, with the benchmark S&P 500 (-0.62%) closing in the red after Iran seized a British oil tanker in the Strait of Hormuz, escalating hostilities with London to a new level. Oil [..]

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Daily Market Comment – Cautious Fed remarks take the wheels off dollar

Posted on July 19, 2019 at 8:00 am GMT

Dovish remarks by key Fed officials push greenback lower WTI crude oil at four-week low amid mixed signals in US-Iran conflict Canadian retail sales and more Fed-speak dominate the agenda today Fed’s Williams argues for preventive easing, sends dollar reeling   The greenback continues to attract all the attention, after two influential Fed officials fueled market expectations for an aggressive 50 basis points (bp) rate cut at the upcoming policy meeting. The move started after New York Fed President Williams [..]

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Daily Market Comment – Pullback in dollar lifts all boats; risk aversion creeps back

Posted on July 18, 2019 at 8:14 am GMT

Dollar retreats as trade concerns fuel Fed rate cut bets Stocks drop, safe havens gain amid risk aversion  Aussie climbs after employment data UK retail sales due as pound recovers some losses Dollar grinds lower as July rate cut bets mount The world’s reserve currency retreated almost across the board on Wednesday and continues to surrender ground today, falling in tandem with longer-term US interest rates as worrisome trade signals prompted traders to boost bets for aggressive Fed rate cuts. [..]

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Daily Market Comment – Sterling stumbles as no-deal Brexit fears strike back

Posted on July 17, 2019 at 8:04 am GMT

Pound touches 27-month lows as no-deal Brexit concerns resurface Dollar capitalizes, and may have more room to recover for now Oil sinks as Washington hints at “progress” with Iran Canadian inflation data coming up Sterling stumbles as no-deal worries wreak havoc The pound came under fire on Tuesday, falling by more than one big figure against the dollar to touch lows last seen in April 2017, as the risk of a no-deal Brexit popped back on the market’s radar. The [..]

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Daily Market Comment – US retail sales & Powell’s remarks to set the tone

Posted on July 16, 2019 at 8:36 am GMT

US retail sales and remarks by Powell top the agenda today UK jobs data may be watched as Brexit news flow remains limited Kiwi ticks up, despite lingering RBNZ rate-cut speculation EU Commission chief awaits Parliamentary confirmation Dollar looks to US retail sales and Powell’s remarks The greenback recovered some ground to start the week, in the absence of any noteworthy US news to drive the price action. That may change today though, with the release of the nation’s retail [..]

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Daily Market Comment – Stocks aim for new records as Chinese data lift sentiment

Posted on July 15, 2019 at 8:50 am GMT

US stocks eye new record highs as earnings season begins Dollar pulls back as markets digest Powell’s cautiousness Kiwi outperforms on Chinese data, looks to crucial inflation numbers Solid Chinese data calm slowdown fears, boost risk appetite Global markets kicked off the week in a risk-on mood, with the major US stock indices set to open at new record highs and commodity currencies like the kiwi outperforming in the FX arena, following a batch of encouraging Chinese data. As expected, [..]

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Daily Market Comment – Dollar see-saws on data; euro edges up despite ECB stimulus hint

Posted on July 12, 2019 at 8:11 am GMT

US dollar firms again on stronger-than-expected data, which tempers bets of 50-bps rate cut Euro edges higher even though ECB minutes signal more stimulus Oil climbs to 1½-month highs on rising Middle East tensions and Gulf of Mexico shutdown Dollar fluctuates as markets undecided on 50-bps cut Just as markets were reconsidering the likelihood of a large 50 basis points cut by the Federal Reserve this month, stronger-than-anticipated data out of the United States dampened those expectations. Core inflation, according [..]

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Daily Market Comment – Dollar weaker after Powell flags rate cut; US stocks hit all-time highs

Posted on July 11, 2019 at 8:27 am GMT

Fed Chair Jerome Powell and FOMC minutes bolster case for a July rate reduction US dollar slips after Powell’s remarks, reversing NFP-driven gains Euro rebounds, eyes ECB minutes; pound and loonie up too US stocks hit record highs but Bitcoin plunges Powell testimony all but confirms rate cut in July Markets were in buoyant mood on Thursday as Fed Chairman Jerome Powell gave his strongest indication yet that the Federal Reserve will slash interest rates at the July 30-31 meeting. [..]

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Daily Market Comment – All eyes on Powell as markets seek rate cut confirmation; dollar at 3-week high

Posted on July 10, 2019 at 8:08 am GMT

Powell’s testimony awaited as investors seek clues on rates following mixed data US dollar continues to advance higher as odds of 50 basis points cut are erased Pound and aussie extend declines on rising rate cut expectations Bank of Canada expected to hold rates Markets are praying for a dovish Powell Fed Chairman Jerome Powell’s testimony will be today’s and the week’s focal point as investors attempt to gauge how dovish policymakers will be when they meet for their next [..]

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Daily Market Comment – Dollar holds firm as Fed rate signals awaited; pound slips to 6-month lows

Posted on July 9, 2019 at 8:21 am GMT

Dollar remains buoyant as investors re-evaluate Fed rate cut bets Focus on Fed as FOMC minutes and Powell testimony eyed for clarity on rates Pound slips to fresh 6-month lows ahead of key UK data amid slowdown fears Dollar edges higher on fading expectations of an aggressive Fed The US dollar was heading towards three-week highs against a basket of currencies on Tuesday as investors pared back their expectations that the Federal Reserve would soon embark on an aggressive easing [..]

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