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Daily Market Comment – Virus risks persist but China stimulus cheers markets

Posted on February 17, 2020 at 9:14 am GMT

Shares in China soar after central bank cuts rates, injects cash and government pledges tax cuts But Japanese stocks struggle as recession fears grow after Q4 GDP drop Dollar holds firm despite mixed data but quiet day ahead as US markets closed China pumps more stimulus as no sign yet of virus peaking Asian stocks were boosted on Monday as Chinese authorities intervened to prop up markets with little evidence so far that the coronavirus outbreak is easing. The People’s [..]

Daily Market Comment – Euro continues to suffer, pound jumps on fiscal hopes

Posted on February 14, 2020 at 9:25 am GMT

‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]

Daily Market Comment – Dollar capitalizes as euro crumbles; Risk aversion strikes back

Posted on February 13, 2020 at 9:22 am GMT

Euro/dollar and euro/franc sink to multi-year lows after weak data extinguish hopes of European recovery Pain train for euro may not be over, difficult to see what can turn this around Meanwhile, virus worries return to haunt stocks and commodity currencies as death toll jumps – yen shines Euro caves in under the weight of disappointing industrial data The world’s most traded currency pair continued its epic downfall yesterday, touching a low last seen in 2017 after a batch of [..]

Daily Market Comment – Stocks undeterred by Bernie win; RBNZ lifts kiwi

Posted on February 12, 2020 at 9:39 am GMT

US equities close at new highs as Powell confirms liquidity injections will continue Futures point to a higher open today as well, despite Bernie Sanders’ election victory Kiwi jumps as RBNZ abandons easing bias, signals an end to rate-cut cycle Wall Street sets more records, yen and gold retreat Financial markets continue to trade in a ‘risk-on’ manner as fears that the coronavirus will have a long-lasting impact on the global economy are gradually diminishing, thanks to a substantial slowdown [..]

Daily Market Comment – Wall Street hits new records, but beware of the Democratic primary

Posted on February 11, 2020 at 9:21 am GMT

Fading virus fears boost equities, but New Hampshire primary today poses risks Euro pummeled as markets price out prospect of a big German spending package Fed chief Powell testifies, ECB’s Lagarde and BoE’s Carney speak RBNZ rate decision coming up – a more dovish tone seems likely Stocks climb as virus fears fade, but how long until they ‘feel the Bern’? Concerns around the economic fallout of the coronavirus seem to be fading off the market’s radar, as the rate [..]

Daily Market Comment – ‘King dollar’ continues its reign after solid jobs data

Posted on February 10, 2020 at 9:45 am GMT

Dollar cruises higher after strong payrolls push back expected timing of Fed cuts Yet, stocks struggle for altitude, yen climbs as virus fears remain in play Aussie breaks 11-year low, but quickly bounces back The world’s reserve currency shined once again on Friday, after US payrolls for January exceeded estimates, prompting traders to push back the expected timing of the next Fed rate cut. Nonfarm payrolls rose by 225k, smashing the forecast for a 160k increase and signaling that the [..]

Daily Market Comment – Risk aversion creeps in as virus death toll jumps

Posted on February 7, 2020 at 9:27 am GMT

Equities rally fades as spread of coronavirus shows no sign of slowing Yen edges up but dollar also holds firm ahead of US jobs report Pound set for large weekly losses amid Brexit brinkmanship Virus fears intensify; risk rally loses steam The relief rally sparked by China’s efforts to contain the coronavirus and support its economy appeared to run out of steam by the end of the week as most major stock indices in Asia turned red on Friday. Futures [..]

Daily Market Comment – US stocks extend bull run as China cuts tariffs, Trump gets acquitted

Posted on February 6, 2020 at 9:29 am GMT

Global stocks continue to rally on upbeat US data and as virus fears ease Risk-on further aided after China cuts US tariffs and President Trump gets acquitted Dollar climbs to 2-month highs, yen retreats Unstoppable Wall Street scales fresh records A string of positive developments added further impetus to the rebound in global stocks on Thursday, as the recovery extended into a third day. Global stock markets plunged last week with China playing catch up on Monday as fears about [..]

Daily Market Comment – Markets hold steady but virus risks linger; oil up as OPEC+ considers output cuts

Posted on February 5, 2020 at 9:33 am GMT

Stocks extend rebound but caution keeps gains in check Yen and gold edge back up as coronavirus death toll continues to rise OPEC+ holds technical meeting to discuss fresh cuts to output amid virus impact Markets remain calm but growth worries persist This week’s cash injection by Chinese authorities and pledges of additional stimulus if needed to stabilize the economy from the disruptions caused by the coronavirus outbreak helped maintain calm in financial markets on Wednesday. Stocks in Asia headed [..]

Daily Market Comment – Stocks steadier as China tries to calm markets; dollar up on ISM beat

Posted on February 4, 2020 at 9:27 am GMT

Chinese shares recoup some losses as authorities attempt to stem sell-off Dollar lifted by surprise pickup in US manufacturing activity Pound extends losses as UK and EU clash on post-Brexit trade arrangements Asian stocks turn green but virus fears persist Stocks in Asia took a breather from yesterday’s steep sell-off as Chinese authorities stepped in to limit the fallout from the worsening outbreak of the coronavirus, as the death toll continues to rise. A massive injection of liquidity by China’s [..]

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