Market Preview

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US Open Preview – Pound best performer on MPC Vlieghe’s rate forecasts

Posted on September 25, 2018 at 11:17 am GMT

Here are the latest developments in global markets: FOREX: The Japanese yen remained under pressure versus the US dollar as the 10-year US government bond yields reached fresh 4 ½-year highs at 3.10%. Dollar/yen returned to 112.88 (+0.08%) after peaking as high as 112.96 early today, the highest since July 19, while the dollar index stood flat at 94.16. Following somewhat dovish comments by the ECB chief economist Peter Praet, euro/dollar dropped to a low of 1.1731 before crawling up to 1.1762 (+0.12%). [..]

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European Open Preview – Euro pares Draghi-induced gains; trade, Brexit and eurozone politics eyed

Posted on September 25, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher on Tuesday, albeit by less than 0.10%, looking to extend the marginal gains it posted in the previous session. Meanwhile, the euro spiked higher after ECB chief Mario Draghi struck a more upbeat tone with regards to the bloc’s economic outlook. The pound also bounced as the UK’s Brexit Secretary Raab downplayed some fears. All these came largely at the expense of the yen, which was the [..]

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US Open Preview – Pound rallies as UK’s Raab eases Brexit fears; Oil gains the most

Posted on September 24, 2018 at 11:56 am GMT

Here are the latest developments in global markets: FOREX: After China canceled planned trade talks with the US on Saturday and new import tariffs took effect, Chinese officials reiterated on Monday that Beijing is ready for a new round of negotiations only if the talks are based on mutual respect. Investors, though, remained positive on the dollar as they widely expected the Fed to shrug off trade risks and deliver another 25 bps rate hike on Wednesday, with dollar/yen trading higher but only modestly [..]

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European Open Preview – Dollar modestly up; sentiment sours as China cancels trade talks

Posted on September 24, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – is higher on Monday (+0.12%), looking set to extend the gains it recorded in the previous session. The safe-haven yen is also a little higher while risk-sensitive currencies such as the aussie and kiwi are lower, following news that China won’t attend the trade talks it had planned with the US. In the UK, the [..]

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US Open Preview – European equities march higher as dollar consolidates losses; Canadian data in focus

Posted on September 21, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of six major currencies traded higher by 0.1% after touching its lowest since early July of 93.81 earlier on Friday. Still, the index mostly consolidated yesterday’s considerable losses. Dollar-advancing on Friday was most evident against the yen and sterling. The former, unable to attract safe-haven flows, took a beating lately. Evidently, dollar/yen, euro/yen and pound/yen scaled two-, five- and four-month highs on Friday; the latter [..]

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European Open Preview – Yen & dollar pummeled amid stock exuberance; key Eurozone and Canadian data due

Posted on September 21, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher by a marginal 0.05% on Friday, recouping some of the significant losses it posted in the previous session as risk appetite remained firm and investors pared back more of their safe-haven bets on the US currency. The haven-perceived yen was also on the back foot, performing even worse than the greenback amid this risk-on environment. Meanwhile, the euro and sterling capitalized, both staging a spectacular recovery [..]

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US Open Preview – Pound shines after unexpected rise in retail sales

Posted on September 20, 2018 at 12:14 pm GMT

Here are the latest developments in global markets: FOREX: British retail sales beat expectations today rising by 0.3% m/m in August, above the -0.2% forecasted, from 0.9% m/m in the preceding month. Yearly, retail sales advanced by 3.5% instead of 2.5% predicted and versus 3.8% in July, driving pound/dollar higher by 1.10% to a fresh 2-month high of 1.3288. Also, pound/yen advanced by 0.96%, jumping above 148.00. In Brexit-related news, the Irish RTE media reported that May sees no deal before October’s EU regular [..]

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European Open Preview – Sterling remains turbulent amid EU summit; UK retail sales coming up

Posted on September 20, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is down by 0.10% on Thursday after ending the previous session practically unchanged, failing to capitalize on a sustained surge in longer-term US bond yields. In the UK, the British pound had a turbulent ride amid Brexit news. Meanwhile, commodity-linked currencies such as the loonie, aussie, and kiwi staged a quiet comeback as worries over global trade eased. STOCKS: It was a mixed session in the US on Wednesday. The Dow Jones (+0.61%) [..]

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US Open Preview – Pound reverses gains on Irish border headlines despite stronger inflation; SNB rate decision pending

Posted on September 19, 2018 at 12:00 pm GMT

Here are the latest developments in global markets: FOREX: In the wake of upbeat UK inflation readings, sterling advanced considerably against the greenback to an 8-week high of 1.3214. The Consumer price index rose to an annual rate of 2.7% from 2.5% in the previous month and comfortably above market expectations of 2.4%. It was the highest inflation rate since February. On a monthly basis, the figure inched up by 0.7% versus 0.0% previously, while the annual core CPI ticked higher to 2.1% [..]

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European Open Preview – Markets brush aside trade concerns; UK inflation in the spotlight

Posted on September 19, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is lower on Wednesday, albeit not by much (-0.12%), giving back the slight gains it posted yesterday. The yen plunged across the board as investors rotated out of safe assets, after the US-China trade confrontation was perceived to be milder than feared. Meanwhile, risk-sensitive currencies like the aussie and kiwi recovered some lost ground. STOCKS: US markets climbed on Tuesday, shrugging off trade worries as the tariff actions by both China and [..]

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