Market Comment

Daily Market Comment – Yen skyrockets after intervention; SNB and BoE hike by less than expected

Japan intervention boosts yen, but will the effect last? Franc tumbles as SNB hikes by 75 and not 100bps BoE sees economy falling into recession this quarter Equities extend tumble, yields climb higher Japan comes to the yen’s rescue; will it succeed? The US dollar finished Thursday’s session slightly higher or near its opening levels against most of the other major currencies, with the exceptions being the Japanese yen and the Swiss franc.

Daily Market Comment – Fed hike, Powell’s recession warning roil markets; dollar shoots up

Dot plot signals Fed not done with 75 bps hikes, Powell warns of pain ahead S&P 500 goes back into bear market, dollar destroys everything in its path Yen slips past 145 after BoJ doesn’t flinch, but jumps after intervention SNB hikes by 75 bps, BoE expected to follow suit, gold see-saws Fed declares war on inflation, spooks markets The Federal Reserve delivered its third consecutive 75-basis-point rate increase on Wednesday and flagged more sharp hikes in the remainder of the year.

Daily Market Comment – Dollar at fresh highs ahead of Fed as Russia jitters sink euro

Russia-Ukraine tensions flare up, knocking the euro and boosting safe havens Stocks subdued but losses contained as investors await Fed decision Yields fall back slightly and gold climbs on Russia worries Tense mood amid Fed and geopolitical risks    The US dollar extended its gains on Wednesday, while stocks stayed largely in the red as investors weighed the risks from the Fed’s upcoming policy decision as well as the possible impact from Russia’s latest warmongering, which is adding to the uncertainty.

Daily Market Comment – Dollar takes a breather; loonie traders lock gaze on CPIs

Dollar’s rally pauses ahead of FOMC decision Equities rebound somewhat on short covering Canada’s inflation expected to slow more Gold rebounds, but gains stay limited Dollar pulls back, equities rebound ahead of FOMC The US dollar traded slightly lower against most of its major peers on Monday, stabilizing somehow during the Asian session today.

Daily Market Comment – Dollar reigns as big week for central banks kicks off

Dollar starts Fed week on the front foot amid elevated rate hike expectations Bank of England and Swiss National Bank also poised to deliver large hikes Yen stays subdued as Bank of Japan not expected to join in Overtightening fears weigh on stocks, oil and gold slip too Markets brace for more tightening, led by Fed Trading got off to a cautious start on Monday, with equities still reeling from last week’s brutal selloff, while the US dollar kept advancing on the anticipation that the Federal Reserve will stick to its hawkish rate path when it sets policy on Wednesday.

Daily Market Comment – Dollar stands tall ahead of upcoming Fed decision, equities resume slide

Dollar stays strong as bets of 100bps Fed hike remain on table US retail sales rebound, initial jobless claims fall Equities resume drop on hike bets and rising recession fears Oil slides on agreement to avert a rail strike Investors maintain bets of a 100bps Fed hike The US dollar stood tall against most of the other major currencies on Thursday and during the Asian session Friday, with traders maintaining their bets with regards to an even more aggressive Fed elevated.

Daily Market Comment – Yen defies intervention warnings, gold loses its shine

Threats of FX intervention don’t do much to boost the yen Currency pairs trapped in narrow ranges, stocks lick wounds Gold under heavy pressure, US retail sales coming up next Yen dismisses intervention The battle for the yen continues to rage in the FX arena, with Japanese officials using every trick at their disposal to stabilize the devastated currency.

Daily Market Comment – US inflation surprise pummels stocks, boosts dollar

US inflation comes in hot, fueling bets of a more forceful Fed  Stock markets tank, dollar fires up as terminal rates increase  Yen finds some support after Japan threatens FX intervention Inflation shock Hopes that the Federal Reserve is about to ease off the brakes got crushed yesterday under the boot of another shockingly hot US inflation report, sending shockwaves across global markets.

Daily Market Comment – Hopes of softer inflation report lift Wall Street, hurt dollar

Investors bet that August CPI data will confirm inflation has peaked in the US Wall Street rallies for a fourth day, dollar selloff accelerates Euro and pound maintain positive momentum despite doubts over energy plans Market optimism ahead of US CPI Risky assets were either extending or holding onto their gains on Tuesday as investors awaited the latest inflation report out of the United States due at 12:30 GMT.

Daily Market Comment – Yen selling resumes, euro engines fire up

Yen back under selling pressure as FX intervention hopes fade   Euro advances, buoyed by energy price cap and ECB signals Dollar down but not out, stock markets defend recent gains  Yen resumes slide It has been an excruciating year for the Japanese yen, which has lost almost 25% of its value against the US dollar, crushed by one of the greatest episodes of monetary policy divergence in modern history.

Daily Market Comment – Yen warnings, hawkish ECB knock down US dollar

Yen slide takes a pause after Japanese officials sound alarm bells Powell out-hawks Lagarde but euro catches a bid on broader dollar pullback Pound rebounds too as Britain mourns the passing of Queen Elizabeth II Wall Street extends recovery ahead of the Fed blackout period Yen intervention scare sparks dollar profit-taking The Japanese yen rallied against the US dollar on Friday after Bank of Japan Governor Haruhiko Kuroda joined in the chorus of alarm voiced by senior officials from the country’s finance ministry about the currency’s rapid depreciation.

Daily Market Comment – Euro eyes jumbo ECB rate hike; pound awaits Truss’ energy plan

Softer dollar bolsters euro as ECB anticipated to frontload rate hikes But pound remains pressured amid angst about Truss’ energy bailout Aussie dips after RBA’s Lowe makes dovish tilt; loonie firmer after BoC Wall Street in surprise bounce back as yields and oil prices take a plunge Euro flirts with parity ahead of ECB decision The energy crisis and the pace of monetary tightening look set to dictate market sentiment once again as a busy day looms with a policy decision by the European Central Bank, Fed Chair Jerome Powell is due to speak, and new UK Prime Minister Liz Truss will unveil her much-anticipated energy support package.

Daily Market Comment – Dollar smashes yen as forceful Fed bets increase

ISM PMI beats estimates, dollar/yen accelerates rally Wall Street returns wounded after holiday BoC to hike by 75bps, focus to fall on future moves ISM non-manuf.

Daily Market Comment – Pound gains in aftermath of UK PM election; euro rebounds as well

Sterling wakes up as Truss’s plans could fuel inflation Euro rebounds as well after hitting a two-decade low RBA lifts rates by 50bps and hints neutrality Asian shares cheer China’s pledge for more action Pound outperforms after new UK Prime Minister elected The US dollar took a break at some point yesterday, with the dollar index pulling back after hitting a new two-decade high of 110.

Daily Market Comment – Gas crisis sinks euro and stocks, pound downbeat ahead of new PM choice

Euro plunges again after Russia further cuts gas supplies to Europe Energy crisis and rate hike fears scupper equities’ rebound attempt Pound hits fresh 2-year low as pressure builds before Tories unveil their new leader Oil bounces back ahead of OPEC+ decision amid output cut speculation Europe’s energy woes deepen ahead of ECB meeting The euro slid below the $0.

Daily Market Comment – Financial world locks gaze on US employment data

Dollar hits 20-year high ahead of the NFPs Strong report could justify aggressive Fed hikes Yen, euro lose the most; loonie takes the first place Dollar climbs higher as data support forceful Fed The US dollar continued flexing its muscles against all but one of the other major currencies on Thursday and during the Asian trading session Friday, with the dollar index hitting a 20-year high.

Daily Market Comment – Eurozone inflation closer to double digits, dollar reclaims its crown

Record Eurozone inflation corroborates a 75bps hike Fed’s Mester gives the dollar its crown back Equities slide on the back of stronger dollar, yields rise Euro holds steady as inflation hits new record The US dollar reclaimed its throne on Wednesday, outperforming all the other major currencies.

Daily Market Comment – Euro sustains a close above parity ahead of inflation data, equities keep falling

Euro/dollar above parity ahead of Eurozone inflation data Equities stay wounded as central banks show more teeth Canada’s GDP to add to the case of a 75bps hike by the BoC ECB remarks and natural gas setback hoist euro The euro was the main gainer against all the other major currencies in the last 24 hours, with king dollar settling in second place.

Daily Market Comment – Euro takes another shot at parity, stocks stabilize

Euro inches higher, short squeeze brewing as ECB rolls out big guns Wall Street futures trade higher, but outlook remains challenging German inflation and US consumer confidence data coming up Euro squeeze?  The week started off with a bang as the aftershocks of the Fed’s ‘whatever it takes’ message reverberated across the FX arena.

Daily Market Comment – Fed’s shock tactics sink equities, supercharge the dollar

Fed chief Powell sends a ‘forceful’ message about slaying inflation Stocks and risk-sensitive currencies tank, alongside yen and gold Dollar is the only winner as it hits fresh two-decade highs Shock therapy The Fed chief resorted to shock tactics on Friday, striking a forceful tone about his resolve to win the inflation battle and sending financial markets into a tailspin.



Trade Ideas

SymbolSourceDirection

Market Summary

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.