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Daily Market Comment – Stocks crash as recession fears intensify

Posted on October 3, 2019 at 8:12 am GMT

Investors back on recession watch; all eyes on the ISM non-manufacturing PMI today Speculation for Fed rate cuts no longer supports stocks – paradigm shift? Sterling yawns as markets say Brexit proposal is not a needle-mover Equities dive, yen roars back as investors grapple with recession worries Wall Street recorded substantial losses on Wednesday, with the S&P 500 (-1.8%) falling sharply and Asian markets being a sea of red today, as traders continued to cut their risk exposure amid worries [..]

Daily Market Comment – Manufacturing recession and Brexit ultimatum

Posted on October 2, 2019 at 8:12 am GMT

Stocks tank as disappointing US PMI data fuel recession fears Pound remains under pressure as Johnson’s Brexit ‘ultimatum’ is leaked Mood turns sour as ISM manufacturing PMI drops further into contraction Global markets went into turmoil yesterday, with risk aversion dominating after the US ISM manufacturing PMI unexpectedly dropped to a decade low of 47.8 in September, missing the forecast for a rebound to 50.1. Any reading below 50 suggests the sector is contracting, so the considerable decline in this [..]

Daily Market Comment – Trade war goes financial

Posted on September 30, 2019 at 8:10 am GMT

Markets stay in risk-off mode as US considers financial sanctions against China Kiwi drops to new 4-year low after weak business confidence numbers Pound tumbles on hints of BoE rate cut, but may get some relief from politics   Sentiment turns sour on fears trade war may spread into finance The main story on Friday was that the Trump administration is examining whether to restrict US financial flows into China. According to reports, Washington is considering delisting Chinese companies from [..]

Daily Market Comment – Trade rollercoaster keeps sentiment fragile; dollar climbs

Posted on September 27, 2019 at 8:00 am GMT

Stocks retreat on trade doubts, but short-term outlook still positive Euro weakens amid ECB easing speculation, dollar capitalizes  Flood of US data due out today, but trade issues more important for greenback Stocks pull back on reports US is unlikely to extend Huawei waivers Market moves were relatively muted on Thursday, as investors remained hesitant to increase their exposure until they get a better grip on the various risks currently at play, most notably the Trump impeachment threat and the [..]

Daily Market Comment – Dollar soars as impeachment worries fade, trade optimism returns

Posted on September 26, 2019 at 8:04 am GMT

Renewed trade optimism and fading impeachment concerns lift dollar & stocks One of the biggest ECB hawks resigns; Draghi speaks today RBNZ Governor plays down prospect of QE, lifts kiwi Dollar and equities shoot up as Trump says a trade deal may be close Global risk sentiment improved drastically on Wednesday, as a combination of optimistic trade remarks and diminishing fears of a US presidential impeachment saw investors rotate back into riskier assets. The market’s mood started to improve after [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:09 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting?   Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

Daily Market Comment – UK Supreme Court decision eyed ahead of RBNZ meeting

Posted on September 24, 2019 at 8:01 am GMT

UK Supreme Court rules at 09:30 GMT whether Parliament’s suspension was lawful – upside risk for sterling? RBNZ rate decision due early on Wednesday; kiwi may briefly spike higher US stocks recover after upbeat manufacturing PMI, but safe havens tell another story UK Supreme Court to rule on Johnson’s suspension of Parliament It will be an eventful day in Britain, as the nation’s Supreme Court will decide whether Boris Johnson’s choice to suspend Parliament for five weeks was lawful, or [..]

Daily Market Comment – Euro reels after dismal PMIs, but don’t panic yet

Posted on September 23, 2019 at 8:18 am GMT

Euro drops after German PMIs suggest recession ahead – but there may be good news there too Trump’s trade remarks dampen risk appetite Oil prices jump on reports that Saudi output may be offline for longer Euro reels as preliminary PMIs paint a gloomier picture The single currency is on the back foot early on Monday, following the release of the preliminary French and German PMIs for September, which signaled that more pain lies ahead for the European economy. All [..]

Daily Market Comment – Pound jumps on Brexit deal hopes; dollar edges lower

Posted on September 20, 2019 at 8:29 am GMT

Pound surges on rising odds of a Brexit deal; Barnier-Barclay meeting eyed Dollar edges lower as other central banks hold steady, Treasuries slip Cautious optimism as US-China trade talks resume Oil spikes again after Saudi Arabia strikes Houthi targets in Yemen Pound continues to surge amid Brexit deal talk Hopes that the United Kingdom and the European Union may yet reach a deal on their divorce terms boosted the pound on Friday, taking the currency to 2½-month highs versus the [..]

Daily Market Comment – Markets unimpressed by Fed’s hawkish cut; aussie slips on weak jobs data

Posted on September 19, 2019 at 8:31 am GMT

Fed lowers rates as expected, signals may not cut again; BoJ stands pat, could move in October Dollar see-saws on Fed decision, stocks pare initial losses; BoE awaited Aussie and kiwi extend slide after data fuels rate cut expectations    Powell soothes market nerves as split vote casts doubt on rate outlook   There were no surprises from overnight decisions by the Federal Reserve and the Bank of Japan as the US central bank cut its benchmark rate by 25 [..]

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