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Market Comment

XM Research - 14 hours ago

US Open Note – Omicron variant continues to cast a shadow over markets

Dollar edges lower ahead of US jobs report The US dollar was trading without a clear direction on Thursday, as the markets continue to digest Fed Chair Jerome Powell’s hawkish shift and recent Omicron variant developments.
XM Research - 18 hours ago

Daily Market Comment – Stocks under pressure, oil awaits OPEC decision

Wall Street takes another hit as Omicron spreads, Fed can’t help FX market generally quiet, albeit with a hint of risk aversion With oil prices plunging, traders look to OPEC for assistance Equities drift lower Another wave of selling hit Wall Street on Wednesday.
XM Research - 2 days ago

US Open Note – Powell’s hawkish transition unable to boost the dollar

Powell signals faster tapering Global markets were struck by Fed Chair Jerome Powell’s hawkish tone during his testimony before the Senate Banking Committee on Tuesday.
XM Research - 2 days ago

Daily Market Comment – Fed chief signals faster taper, dollar not impressed

Fed Chair Powell says appropriate to consider accelerating taper process Dollar spikes higher but cannot sustain gains, stocks close lower  Heavy dose of economic data releases today, OPEC begins meeting Powell turns hawkish The Chairman of the Federal Reserve dropped a bombshell on global markets yesterday by signaling his central bank will consider accelerating the pace at which it withdraws liquidity from the financial system.
XM Research - 3 days ago

US Open Note – Dollar weakens as risk aversion grows

Fed Chair Powell to draw focus; Chicago PMI and consumer confidence eyed Market sentiment has weakened, and the greenback has taken a hit as concerns regarding the omicron variant have resurfaced.
XM Research - 3 days ago

Daily Market Comment – Virus worries keep markets on edge

Concerns around vaccine efficacy spark another round of volatility Riskier currencies, stocks, and crude oil erase yesterday’s rebound Yen and franc shine as yields edge lower, Powell testimony in focus Moderna CEO warns about vaccines The chief executive of Moderna struck fear into financial markets on Tuesday after he warned that existing vaccines probably won’t be very effective against the new Omicron variant.
XM Research - 4 days ago

US Open Note – Resilient dollar rebounds in calmer markets

Greenback shrugs off new virus scare, market sentiment bounces back The calmer markets today seem to have brushed off the shock linked to the new omicron variant that hit global equity markets on Friday.
XM Research - 4 days ago

Daily Market Comment – Is the Omicron selloff done already?

Global markets in a better mood as ‘Omicron’ nerves calm down Riskier currencies, stocks, and oil rebound but not convincingly Spotlight now turns to Fed chief and incoming virus news  Markets lick wounds Black Friday discounts hit the financial markets this year too and many shoppers were waiting eagerly.
XM Research - 1 week ago

US Open Note – Markets dive as new Covid variant identified

FX market is bleeding due to new variant; yen shines After the discovery of a new and possibly vaccine-resistant coronavirus variant in South Africa, Botswana, and Hong Kong, the FX market is posting strong losses and US stock futures are indicating a negative open.
XM Research - 1 week ago

Weekly Comment – US jobs report eyed as new virus strain haunts markets

A post-Thanksgiving selloff is spreading across the markets after the identification of a new Covid-19 variant.
XM Research - 1 week ago

Daily Market Comment – New virus variant hits riskier assets, revives yen

Worries around a vaccine-resistant variant spark turmoil  Stocks and commodity currencies slide, yen comes back to life We’ve seen this movie before, but there’s a catch this time Covid strikes back A new virus variant has come like a bolt out of the blue to rattle financial markets.
XM Research - 1 week ago

Daily Market Comment – Fed teases faster taper, dollar steamrolls rivals

Dollar slices higher after strong US data and Fed signals Euro tormented by growth risks, stock markets bounce back Thin liquidity to dominate trading as America goes on holiday Brace for faster tapering The dollar continues to bulldoze its way through the currency complex, tearing down everything in its path as the prospect of faster Fed tapering gets baked into the bond market cake.
XM Research - 1 week ago

US Open Note – US dollar edges higher ahead of US data releases

Dollar hits fresh 16-month high The US dollar resumed its rally today, reinforced by markets' expectation of an eventual Fed rate hike move by June 2022, and the weaknesses observed in most major currencies.
XM Research - 1 week ago

Daily Market Comment – Oil laughs at strategic reserves release

Oil jumps after US releases reserves, signaling it’s not enough Dollar relatively stable ahead of US data and Fed minutes Stocks mixed, RBNZ disappoints, Turkish lira implodes Oil unscathed  After weeks of speculation, the United States announced that it will release 32 million barrels of crude oil from its strategic reserves to counter the supply deficit in energy markets and cool prices.
XM Research - 1 week ago

US Open Note – Dollar shines again as gold and lira prints losses

Biden’s Fed picks drives dollar up The Fed nomination decision caused some tremors in the financial markets on Monday.
XM Research - 1 week ago

Daily Market Comment – Powell renomination turbocharges dollar, sinks gold

Dollar charges higher as Fed chief Powell gets a second term Stock markets pull back from record peaks, gold cracks European PMIs pause euro’s slide, RBNZ rate decision next Powell gives dollar more fuel The White House announced yesterday that Jerome Powell will get a second term as Fed Chair, while Lael Brainard will be promoted to Vice Chair.
XM Research - 2 weeks ago

US Open Note – US dollar kicks off the week higher as hawkish talk increases

US dollar slopes upwards amid upcoming monetary tightening The dollar’s upsurge seems to be continuing this week fueled by the Fed’s Vice Chair Richard Clarida, who signaled an imminent acceleration of the tapering program that could eventually result in earlier rate hikes.
XM Research - 2 weeks ago

Daily Market Comment – Fed’s No. 2 hints at faster taper; dollar up but stocks stay calm

Fed’s Clarida open to quicker tapering, but no panic yet in bond and equity markets Dollar eyes fresh highs as euro and pound keep bleeding; commodity dollars steadier Flash PMIs and RBNZ may spark some fireworks before Thanksgiving holiday Markets in positive spirits despite Fed and virus worries The Fed’s second in command may have just opened the door to a faster pace of tapering, but stocks nevertheless edged higher at the start of the week as there appeared to be little fallout in bond markets.
XM Research - 2 weeks ago

US Open Note - Stocks improve and dollar surges

King dollar comes on top as rate hike prospects grow US stock futures are near their highs but are showing minor slack, more so the S&P and Dow Jones composites than the Nasdaq 100.
XM Research - 2 weeks ago

Weekly Comment – RBNZ meeting and flash PMI reports take centre stage

The USD reached a 16-month high after a robust US retail sales report, suggesting that high inflation is not yet dampening consumer spending.

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