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Market Comment

XM Research - 21 hours ago

Market Comment – Steady start as markets digest data ahead of rate decisions and NFP

ECB cuts pared back after CPI uptick, but Fed hopes rise on softer core PCE BoC to likely join ECB in cutting rates this week after GDP miss Upbeat Asian PMIs boost equities ahead of US jobs report Oil prices muted as OPEC+ decision sends mixed signals on output ECB and BoC take centre stage After much speculation all year on who will press the rate cut button first and when, the European Central Bank looks set to beat the Federal Reserve in cutting first.
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XM Research - 4 days ago

Market Comment – US and Eurozone inflation data in focus

Dollar pulls back ahead of core PCE price index Euro awaits Eurozone flash CPI data Wall Street closes in the red, oil extends slide Core PCE inflation enters the spotlight The US dollar pulled back across the board yesterday as the second estimate of US GDP revealed that the world’s largest economy grew at a slower pace than previously estimated in Q1. Treasury yields slid as well, but market expectations with regards to the Fed’s future course of action were not altered muc
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XM Research - 5 days ago

Market Comment – Dollar rallies as market angst spreads

Higher Treasury yields contribute to stock indices’ retreat Euro under pressure as the pound benefits from the election Gold fails to benefit from risk-off; oil drops ahead of OPEC meeting Dollar is on the front foot The US dollar is gaining against its main counterparts with the euro/dollar pair dropping to a 2-week low. The catalyst for this move appears to be the bond market as the 10-year US Treasury yield is hovering above 4.6% for the first time since early May.
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XM Research - 6 days ago

Market Comment – Dollar trades sideways as focus turns to US yields

US stock indices under pressure as yields climb German CPI could dictate next week’s ECB rhetoric Yen underperformance lingers; all eyes on Friday’s Tokyo CPI Dollar rallied on Tuesday, US stock indices were mixed Following a couple of negative sessions, the US dollar showed its strength yesterday as it managed to outperform the euro.
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XM Research - 1 week ago

Market Comment – Euro takes advantage of weak dollar

Dollar extends slide on thin holiday trading More Fed officials to step onto the rostrum Euro gains ahead of key inflation data Wall Street set to open higher, oil rebounds Will Fed officials come to the dollar’s rescue? With US and UK markets staying closed on Monday, the dollar extended its slide against most of its major peers, trading on the back foot today as well.
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XM Research - 1 week ago

Market Comment – Dollar steadies, awaiting fresh catalyst

US dollar stabilizes after profit-taking pullback Investors agree with Fed’s ‘higher for longer’ view Wall Street rebounds as AI remains main driver Gold gains, but remains well off its record Higher for even longer The US dollar pulled back on Friday against most of its major counterparts, perhaps as the slight downward revisions to the UoM inflation expectations for May prompted traders to lock some profits on the long positions they initiated earlier in the week.
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XM Research - 2 weeks ago

Market Comment – Sentiment sours after strong US PMIs; stocks slip, dollar climbs

Rate cut expectations take another hit after upbeat PMIs Dollar rises to 10-day high, Nvidia rally unable to lift Wall Street Higher for longer weighs on oil and gold Fed may not cut until after election It’s been a bad week for investors hoping to see a near-term rate cut by the Fed as expectations have been pushed out further towards the end of the year.
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XM Research - 2 weeks ago

Market Comment – Dollar benefits from hawkish Fed minutes

Dollar rallies as both gold and bitcoin fall Early UK elections called after mixed UK CPI report EZ PMIs unlikely to stop the ECB from cutting rates in June Dollar rallies on the back of the minutes The Fed minutes showed a much more hawkish discussion at the May 1 meeting than originally portrayed by Chairman Powell. In particular, the comment about the willingness of various participants to tighten policy further should risks to the inflation outlook materialize, contradicts Po
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XM Research - 2 weeks ago

Market Comment – Dollar under pressure as Fed speakers multiply

FOMC minutes in the spotlight today Mixed UK CPI probably keeps the door closed to a June move RBNZ surprises with its hawkishness; kiwi benefits Nvidia reports after the US market close Dollar remains on the back foot The quieter data calendar has turned the market’s attention to the plethora of Fed speakers eager to express their opinions ahead of the next blackout period.
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XM Research - 2 weeks ago

Market Comment – Fed uncertainty puts stocks on edge, dollar edges up

Fed policymakers maintain caution ahead of minutes as risk appetite ebbs Commodities retreat from highs amid hawkish Fed, calm in Middle East Dollar inches higher, ether jumps 19% on spot ETF hopes Fed officials sing from same hymn sheet Expectations of two rate cuts by the Fed are in doubt again as investors pared back some of their bets following a string of hawkish commentary by Fed policymakers in the last 24 hours.
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XM Research - 2 weeks ago

Market Comment – Rate cut optimism buoys equities, gold jumps on geopolitical risks

Stocks remain on the front foot despite wavering rate cut bets Optimism prevails even as gold rallies on Middle East uncertainties Subdued dollar eyes Fed speakers, rising Japanese yields fail to lift yen Stocks extend post-CPI gains Equity markets remained buoyant at the start of the new trading week following last week’s somewhat cooler-than-expected inflation report out of the United States, as the data further extinguished any lingering fears about a possible Fed rate hike.
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XM Research - 3 weeks ago

Market Comment – Dollar rebounds as US import prices accelerate

US import prices see largest surge in two years Investors scale back Fed rate cut bets Yen slides on BoJ bond operation, Ueda’s remarks Wall Street pulls back after hitting fresh record highs   Dollar recovers some CPI-related losses The US dollar rebounded on Thursday and is holding onto those gains today as data showed that import prices increased 0.9% month-on-month in April, taking the annual rate up to 1.1% from 0.4%.
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XM Research - 3 weeks ago

Market Comment – Dollar plummets as US data supports Fed rate cuts

US inflation resumes downtrend, retail sales stagnate Dollar falls as investors add to Fed rate cut bets Yen gains even as Japanese economy contracts Wall Street at fresh records, gold rallies on US data   Cool inflation, flat retail sales hurt the dollar The dollar tumbled against all its major peers yesterday after the US CPI data revealed that inflation in the world’s largest economy resumed its downtrend in April, allowing investors to ramp up their Fed rate cut bets.
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XM Research - 3 weeks ago

Market Comment – Dollar under pressure ahead of the US CPI release 

Countdown to US CPI report is almost over Increased risk of an upside surprise after strong PPI US dollar on the back foot today as equities in waiting mode China prepares to go all in to save the housing sector Dollar remains on the back foot The countdown to the 12:30 GMT release of the April US CPI report is almost over. Market forecasts point to a monthly change of 0.4% for the headline CPI, pushing the annual growth rate down to 3.4%.
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XM Research - 3 weeks ago

Market Comment – Range trading continues as markets prepare for Wednesday’s CPI

Dollar recovers somewhat while US stocks’ rally stalls PPI and Fed Chairman Powell could wake up the market later today Mixed UK labour data complicate the BoE’s outlook Dollar recovers but still in the red during May Range trading continues in most currency pairs as the market is in waiting mode for tomorrow’s crucial US inflation report.
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XM Research - 3 weeks ago

Market Comment – Investors cautious as spotlight falls on US inflation

Dollar gains slightly on hawkish Fed remarks Investors scale back their Fed rate cut bets China’s CPI rises for the third straight month US stocks stay supported despite rebound in yields   Dollar bolstered by Fed, inflation expectations The US dollar traded slightly higher against most of its major peers on Friday, while it started the new week on a cautious note, with traders perhaps reluctant to assume large positions ahead of Wednesday’s CPI inflation numbers.
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XM Research - 4 weeks ago

Market Comment – Dollar slides, gold shines after soft US labor market data

Dollar drops as jobless claims signal labor market is losing steam Gold and stock markets climb, capitalizing on Fed rate cut bets Sterling retreats on BoE decision, but recovers after GDP stats Softer US jobs data fuels rate cut hopes  Global markets are set to close the trading week in a cheerful mood after another round of incoming US employment data pointed to an ongoing softening in the labor market, fueling hopes that the Fed might cut interest rates sooner than anticipat
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XM Research - 4 weeks ago

Market Comment – Pound slides ahead of Bank of England decision

BoE meeting in the spotlight today - likely to downplay June rate cut Yen languishes, trapped between FX intervention and low interest rates Dollar recovers, stocks and gold steady, waiting for US inflation update BoE - No rate cuts yet In a relatively quiet week, the spotlight today will fall on the Bank of England’s interest rate decision.
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XM Research - 4 weeks ago

Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing

Fed expectations drive the market; three Fed speakers on the wires today Dollar recovers but all eyes are on the US stocks and Treasury yields The pound prepares for the BoE meeting as elections gain more airtime Yen on the back foot again; gold steady amid the Israeli ground operation Dollar recovers, equity rally stalls The US dollar has almost erased its NFP losses against the euro as the US stock indices’ rally has stalled.
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XM Research - 4 weeks ago

Market Comment – Dollar stays weak as Fed rate cut bets increase

US labor market cools more than expected Dollar slides as two rate cuts this year become more likely Yen retreats as intervention momentum fades Wall Street cheers prospect of lower interest rates Investors add back to their Fed rate cut bets The US dollar tumbled across the board on Friday and extended losses against some of its major peers on Monday after the US employment report revealed that the world’s largest economy saw its fewest job gains in six months in April, whi
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