Daily Market Analysis

Daily Market Comment – Stimulus, vaccine euphoria push stocks to new highs, dollar sags

Posted on December 2, 2020 at 9:52 am GMT

US stimulus hopes revived after fresh efforts to kickstart talks Vaccine rollouts edge closer after UK approval Stocks scale new heights, but signs of exhausted rally Dollar slump deepens even as Treasury yields jump Brexit jitters take steam out of pound rally Optimism soars as stimulus talks back on Markets had plenty to cheer about on Wednesday as reports of renewed efforts by US lawmakers to kickstart the stalled stimulus talks were followed by news that Pfizer-BioNTech’s vaccine has won [..]

Daily Market Comment – Stocks resume gains, dollar whipsaws as optimism returns

Posted on December 1, 2020 at 10:01 am GMT

Asian recovery gathers speed, pulling global stocks higher Dollar bounces higher, then falls as temporary growth jitters subside Powell offers no policy clues in prepared remarks as US data underwhelms Pound spikes above $1.34 as Brexit deal speculation heats up Recovery back on track, at least in Asia Strong manufacturing PMIs out of Asian powerhouses lifted the market mood on Tuesday, reversing some of the gloom that set in yesterday from soft US indicators. A quickening in the manufacturing revival [..]

Daily Market Comment – Dollar slips again on Fed speculation; stocks pause for breath

Posted on November 30, 2020 at 10:00 am GMT

Dollar extends slide as investors look to Powell testimony and NFP report for Fed clues Stocks stumble at start of week, but vaccine progress keeps risk appetite alive Pound still holding out for Brexit breakthrough as time running out Oil slips as OPEC+ unlikely to agree on long extension to output cuts Dollar remains pinned down in crucial week There was no end in sight to the US dollar’s losing streak at the start of the new trading week as [..]

Daily Market Comment – Dollar on the ropes, aussie unfazed by China tariffs

Posted on November 27, 2020 at 12:09 pm GMT

Greenback hovers near lows, markets quiet overall What’s the outlook for euro/dollar from here? China slaps tariffs on Australian wine, but aussie immune Crunch time in Brexit talks as EU negotiators travel to London All quiet on the FX front It was a relatively subdued session in global markets yesterday with US traders being away on holiday. Most stock indices closed flat and currency pairs generally traded in narrow ranges, with no real headlines to steer the price action and [..]

Daily Market Comment – Dollar on the defensive, market rally pauses

Posted on November 26, 2020 at 9:24 am GMT

Stock markets pause for breath, currencies quiet too Dollar the only notable mover, extends recent losses Crude oil retreats from highs as OPEC meeting looms Sterling in the spotlight as Brexit headlines turn cautious Markets calmer on Thanksgiving The ecstatic mood that prevailed in global markets earlier this week seems to have faded for now, with stock markets being essentially flat since Tuesday and most currency pairs confined in narrow trading ranges. There is a sense that investors are waiting [..]

Daily Market Comment – Dollar comeback falters, gold gets burned

Posted on November 24, 2020 at 10:45 am GMT

US PMIs show economy firing up, dollar bounces but falls back Stocks power higher, yet the Fed remains a wild card Kiwi cheers potential changes to RBNZ mandate Gold burned by a stronger greenback and higher yields Strong PMIs send ripples across markets A perfect storm of encouraging news has engulfed global markets early this week, reawakening some animal spirits. The latest AstraZeneca vaccine isn’t as effective as its counterparts but is much cheaper and easier to store, the US [..]

Daily Market Comment – New batch of vaccine hopes and the Brexit endgame

Posted on November 23, 2020 at 10:01 am GMT

Fresh vaccine news boosts risky assets, but only barely Vaccines losing their mojo in lifting markets? Sterling cruises higher as speculation around a Brexit deal grows European PMIs not quite as dismal as feared Diminishing positive returns from vaccine news? The vaccine hype train keeps on rolling. AstraZeneca was the latest drug maker to announce its late-stage trial results and even though the efficacy rate was only 70% – much lower than that of Pfizer or Moderna – the news [..]

Daily Market Comment – Stimulus fears after Mnuchin cuts off Fed emergency lifeline

Posted on November 20, 2020 at 9:46 am GMT

Treasury Secretary asks Fed to return unused emergency funds, US futures slip But some relief as Senate Republicans agree to restart talks on new virus relief bill Fresh setback for Brexit talks after Barnier has to self-isolate as time running out Fed and White House clash over emergency programs The Federal Reserve’s powers for fighting the pandemic were severely curtailed on Thursday after Treasury Secretary Steven Mnuchin took the unusual step of not extending funding for many of the central [..]

Daily Market Comment – Virus surge overshadows vaccine progress, dollar ticks up

Posted on November 19, 2020 at 10:01 am GMT

Wall Street wobbles as restrictions tighten across the United States Dollar firms across the board amid growing fears of a winter health crisis EU budget row, Brexit angst sap euro and pound Markets subdued as virus surge shows no sign of easing Vaccine optimism struggled to sustain the positive risk sentiment as investors found it hard to ignore the ever-worrying headlines about exploding infection and hospitalization rates in Europe and America. The death toll in the United States from COVID-19 [..]

Daily Market Comment – Growth worries dent vaccine optimism but can’t stem dollar slide

Posted on November 18, 2020 at 9:50 am GMT

Stocks mostly negative after disappointing US retail sales underline near-term risks Surge in US virus cases and fresh outbreaks in Japan, Australia unnerve markets Cautious tone unable to lift dollar as slump in Treasury yields weighs Kiwi outperforms again, pound is close behind amid hopes of a Brexit breakthrough Renewed growth jitters put brakes on vaccine rally The vaccine euphoria suffered a knockback after stalling retail sales numbers out of the United States yesterday highlighted the short-term challenges policymakers still [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms