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Daily Market Comment – Markets calmer after deluge of stimulus; dollar retreats

Posted on March 20, 2020 at 10:00 am GMT

Stocks edge higher after a savage week as emergency responses stepped up Dollar pulls back but dash for cash likely not over just yet Pound and aussie bounce higher after BoE and RBA announce QE Stocks stage a comeback; will it last? Global stocks enjoyed a much-needed reprieve from the fierce selling pressure of the past two weeks on Friday as the flurry of central bank and government interventions finally appeared to have some effect in relieving investor anxiety. All [..]

Daily Market Comment – Dollar surges amid race for cash; stocks tank again

Posted on March 19, 2020 at 9:46 am GMT

Virus panic drives investors to cash, pushing dollar to 3-year high No end in sight to stock market rout despite plethora of stimulus ECB and RBA hold emergency meetings Yen and gold struggle; bonds suffer rare sell-off Pound crashes to 1985 low; aussie, kiwi and loonie also sink Cash is king The market turmoil over the growing coronavirus pandemic continues to deepen with investors ramping up their stockpiling of cash, with the panic sell-off leaving no casualties, not even traditional [..]

Daily Market Comment – Wall Street rebound falters again; rush for dollar eases slightly

Posted on March 18, 2020 at 9:39 am GMT

US shares rally on Fed liquidity boost but futures turn negative as virus uncertainty lingers Trump pushes for $1 trillion stimulus as governments step up virus response Dollar funding squeeze eases, giving other currencies a reprieve Stock markets unable to stop the bleeding Stocks were on the slide again on Wednesday as yesterday’s sharp rebound on Wall Street proved unsustainable amid fears all countries affected by the coronavirus are headed for a complete and possibly prolonged lockdown. Such a scenario [..]

Daily Market Comment – Stocks steadier after crashing again; dollar also firmer

Posted on March 17, 2020 at 9:17 am GMT

Wall Street suffers biggest drop since 1987 crash as investors flee stocks Growing virus response still not enough to quell market turmoil Gold remains on a down path as panicky investors turn to cash Pound underperforms along with commodity and EM currencies Bloodbath on Wall Street There was no escaping the market carnage on Monday as extraordinary moves by the Federal Reserve and other central banks to restore investor confidence failed spectacularly. Shares on Wall Street plunged by the most [..]

Daily Market Comment – Stimulus bonanza fails to calm markets as Europe goes on lockdown

Posted on March 16, 2020 at 9:39 am GMT

Fed slashes rates again and relaunches QE, but markets still gripped by panic RBNZ and BoJ also announce emergency moves More fiscal stimulus on the way but will it be enough? Dollar and stocks slip as China output slump fuels recession worries Fed cuts rates to 0% but investors fear the worst An unprecedented wave of central bank intervention was unable to restore order in the markets on Monday even as policymakers stepped up their response to the coronavirus crisis. [..]

Daily Market Comment – King dollar reclaims throne, stocks disintegrate despite Fed bazooka

Posted on March 13, 2020 at 10:10 am GMT

Wall Street plunges 10% as market panic intensifies, powerful Fed intervention doesn’t help Dollar outperforms amid flight to safety, gold savaged by margin calls ECB doesn’t cut rates, euro pops higher but then crumbles as Lagarde says she’s not Draghi Pandemonium worsens despite Fed restarting QE Global markets are living a nightmare. The fear that enveloped stocks evolved into full-blown panic on Thursday, with the Dow Jones falling by a staggering 10% as investors continued to liquidate everything, frightened or [..]

Daily Market Comment – Stocks tank as Trump bans flights from Europe; ECB may disappoint

Posted on March 12, 2020 at 9:48 am GMT

ECB might not cut rates today – could introduce targeted lending measures and ramp up QE Stocks plunge, oil retreats after Trump bans all travel from Europe Yen back in vogue, but gold doesn’t get the memo Dollar holds firm despite risk aversion, reclaiming safe-haven status ECB may disappoint markets today, push euro briefly higher The European Central Bank (ECB) will have a tough balancing act on its hands when it announces its policy decision at 12:45 GMT today. On [..]

Daily Market Comment – Pound shrugs off emergency BoE rate cut

Posted on March 11, 2020 at 9:50 am GMT

Sterling recovers after BoE cut on hopes for a stimulative budget later today Market mood sours again as news flow stays negative and Trump’s stimulus plans underwhelm    Dollar stages a comeback as US Treasury yields rebound somewhat BoE mimics Fed, slashes rates between meetings The Bank of England (BoE) took a page out of the Fed’s book today, unexpectedly cutting rates by 50 basis points from 0.75% to 0.25% between scheduled meetings to negate the economic impact of the [..]

Daily Market Comment – Markets calm down after the cataclysm, but for how long?

Posted on March 10, 2020 at 9:59 am GMT

Risk sentiment recovers on Tuesday, after a catastrophic Monday However, the rebound is relatively modest – a sign that concerns remain and that this may be a temporary calm Dollar stages a comeback, US Democratic primary continues today Yen pulls back, stocks recover on ‘turnaround Tuesday’ After a wild session on Monday that saw riskier assets crash and burn, with the S&P 500 plummeting a stunning 7.6% and crude oil sinking by nearly 25%, markets have calmed down somewhat today, [..]

Daily Market Comment – Yen explodes higher, oil crashes as the OPEC+ wars begin

Posted on March 9, 2020 at 10:06 am GMT

Investors in panic mode as oil collapses, sending shockwaves through markets Global stocks plunge, commodity currencies flash crash, dollar in agony as markets price in more Fed cuts Japanese yen the main winner, gold briefly tops $1700, euro capitalizes Markets in mayhem as oil price war compounds virus fears It’s been a dramatic beginning to the week in financial markets, with risk aversion being the only game in town as the weekend saw the OPEC+ alliance come to an end, [..]

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