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Market Comment

XM Research - 5 hours ago

Market Comment – Yen gets closer to 150-per-dollar level, oil skyrockets

Dollar extends gains on ‘higher for longer’ narrative Dollar/yen nears 150 zone, risk of intervention rises Oil skyrockets as US inventories tumble Wall street closes mixed despite rally in yields Fed’s Kashkari reiterates hawkish view The US dollar continued marching north against all but one of the other major currencies on Wednesday, gaining the most against the euro and losing only versus the Canadian dollar, which may have received support from the surge in oil pr
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XM Research - 1 day ago

Market Comment – Fed’s ‘higher for longer’ fuels dollar, yen flirts with intervention

Dollar at 10-month highs, 10-yr yield jumps to new 16-year peak Dollar/yen extends uptrend, intervention risks grow Wall Street tumbles on a blend of investor concerns Dollar stands tall ahead of core PCE inflation The dollar traded higher against all the other major currencies on Tuesday and continued trading on the front foot today as well, with the dollar index hitting a fresh 10-month high.
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XM Research - 2 days ago

Market Comment – Dollar at 10-month high as yields keep surging

US 10-year yield hits 16-year high amid no letup in hawkish Fed rhetoric Dollar powers ahead, euro and pound crumble, yen in danger zone Stocks resume decline after late rebound on Wall Street Bond market rout deepens The selloff in bond markets is showing no sign of easing as investors are dumping government securities in favour of cash amid expectations that interest rates in the US may yet rise further.
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XM Research - 3 days ago

Market Comment – Fragile sentiment after weak PMIs, higher for longer message

Mood sours amid hawkish Fed, recession fears and US shutdown risk Stocks mixed after last week’s losses as bond yields near cycle highs Dollar holds firm as yen under pressure after dovish Ueda Subdued sentiment as uncertainties weigh Trading got off to a mixed start on Monday as equities and the US dollar were lacking clear direction after the Fed doubled down on its ‘higher for longer’ stance and the flash PMIs reignited recession jitters.
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XM Research - 6 days ago

Market Comment – Stocks roll over as US yields climb to new highs

Mayhem in US bond market spills over into stocks  Dollar struggles to advance despite soaring yields  Sterling sinks on BoE decision, yen retreats after BoJ  US yields leap higher The storm in US bond markets has evolved into a hurricane, inflicting deep wounds on riskier assets such as stocks. Yields on US government bonds have gone ballistic, with the yield on ten-year notes hitting a fresh cycle high of 4.50% earlier today.  When yields climb with such force, it has re
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XM Research - 1 week ago

Market Comment – Hawkish Fed boosts the dollar, BoE and BoJ next

Fed revises rate path higher, lifting dollar and yields Stock markets and gold move lower in the aftermath BoE decision today a coin toss, BoJ unlikely to move Fed commits to higher for longer The Federal Reserve kept interest rates unchanged yesterday, as widely expected, but revised its economic forecasts and interest rate projections higher.
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XM Research - 1 week ago

Market Comment – Fed rate decision enters the spotlight

Dollar trades cautiously ahead of Fed decision Yen extends slide despite fresh intervention warnings Pound slides after lower-than-expected UK CPI data Wall Street ends in the red as investors turn focus to Fed Will the Fed add fuel to the dollar’s engines? The dollar continued trading in a cautious manner, gaining some ground only against the yen and the franc, while losing the most versus the risk-linked aussie, kiwi, and loonie.
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XM Research - 1 week ago

Market Comment – Euro gains on ECB remarks; dollar awaits Fed decision

Euro rebounds as ECB officials do not rule out another hike Dollar trades cautiously as Fed policy decision looms Wall Street nearly unchanged, gold extends gains ECB policymakers push back on market bets The euro extended its recovery against its US counterpart on Monday, bolstered by more relatively hawkish ECB rhetoric. Just a day after the ECB’s decision was interpreted as hinting at the end of this tightening crusade, several policymakers, including President Lagarde, a
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XM Research - 1 week ago

Market Comment – Oil prices keep rising despite stock market turmoil

Oil prices continue to rise as tight supply kicks in Rising bond yields put pressure on equity markets Dollar rally takes a breather, helping to boost gold Soaring oil prices spell trouble for euro and yen A pivotal week for global markets kicks off with another sharp spike in oil prices. The non-stop rally has seen WTI crude prices rise more than 30% this quarter, driven by a classic supply shortage after Saudi Arabia and Russia decided to curtail their production.
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XM Research - 2 weeks ago

Market Comment – Euro skids after ECB hike, China data lifts sentiment

Euro tumbles as ECB raises rates but hints at pause US dollar hits 6-month high after US retail sales beat Stocks rally on upbeat Chinese data but watch out for triple witching ECB makes surprise hike despite gloomy outlook The European Central Bank raised its key lending rates by 25 basis points on Thursday, taking some investors by surprise amid a split within the Governing Council heading into the meeting.
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XM Research - 2 weeks ago

Market Comment – Euro in the spotlight ahead of ECB decision

ECB decision coming up, but is it a lose-lose for the euro?  Dollar chops around after US inflation, awaits retail sales Gold extends losing streak despite falling bond yields Will the ECB sink the euro?  The highlight today will be the European Central Bank decision, where markets are pricing in a 65% probability of a rate increase.
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XM Research - 2 weeks ago

Market Comment – Cautious trading ahead of US inflation report

US inflation data to set the tone for USD and riskier plays Euro gets a boost from ECB reports, oil prices power higher  Tech sector leads stock markets down, gold nurses losses US CPI in the limelight Traders are locked and loaded for another edition of US inflation data today. Markets have concluded that the Fed won’t raise rates next week and this report is unlikely to change this notion.
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XM Research - 2 weeks ago

Market Comment – Stocks perk up ahead of US CPI and ECB tests, dollar resumes climb

Markets steady as US data and ECB decision awaited Wall Street starts week on optimistic note Yen eases slightly as dollar back on the front foot, pound unfazed by jobs data Calm prevails ahead of big tests Markets remained in a cautiously risk-on mode on Tuesday as hopes that China’s economic meltdown is stabilizing and that central banks are nearing the end of their tightening cycle shored up sentiment ahead of some key events lined up this week.
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XM Research - 2 weeks ago

Market Comment – Yen jumps on hawkish Ueda remarks, dollar slips ahead of US CPI

BoJ’s Ueda hints at end to negative rates by year-end if wages rise Dollar starts week on the backfoot as crucial CPI data awaited China hopes lift aussie, equities; easing Apple selloff helps stocks too Ueda sparks BoJ policy speculation The Japanese yen shot higher on Monday, climbing against all of its major peers after Bank of Japan Governor Kazuo Ueda fanned speculation of an early exit from ultra-easy policy in an interview with the Yomiuri newspaper over the weekend.
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XM Research - 3 weeks ago

Market Comment – Trade war nerves send stock markets lower

Apple concerns rock stock markets after China’s iPhone ban Dollar rally takes a breather as yields retreat, but outlook intact Gold creeps higher, helped by yields and sovereign purchases  Trade risks hit markets The specter of the Sino-American trade war returned to haunt global markets this week, putting another risk on the radar screen of investors that are already grappling with signs of a global economic slowdown and elevated interest rates.
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XM Research - 3 weeks ago

Market Comment – ISM non-mfg PMI highlights resilience of US economy

US service sector unexpectedly gathers momentum ECB officials keep a hike for next week on the table BoE Gov. Bailey says they are ‘much nearer’ to rate peak Wall Street slides as ISM PMI stokes inflation worries Dollar receives boost from ISM non-mfg PMI The US dollar ended Wednesday virtually unchanged against most of the other major currencies, gaining decent ground only against the pound and the franc.
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XM Research - 3 weeks ago

Market Comment – Falling yen draws intervention warning, ISM non-mfg PMI in focus

Yen hits 10-month low, triggers intervention warning Dollar traders turn attention to ISM non-mfg PMI Equities pull back, but stay in an uptrend mode BoC expected to stand pat, focus to turn on guidance Japanese official warns as dollar/yen gets closer to 148 The US dollar traded higher against all the other major currencies on Tuesday, perhaps as increasing concerns about the performance of the Chinese economy after the disappointing Caixin services PMI resulted in a flight to safe
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XM Research - 3 weeks ago

Market Comment – Yen suffers another blow as yields fire up

Dollar shines, yen slides as US bond yields power higher  China optimism melts away after disappointing PMI data Aussie dollar crumbles, gold tests crucial support zone Dollar/yen follows yields higher The US dollar resumed its march higher on Tuesday, receiving fuel from interest rate differentials and safe haven flows. Bond market players have started to push US yields higher once again, enhancing the dollar’s interest rate advantage, while some disappointing business surveys
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XM Research - 3 weeks ago

Market Comment – Dollar gains after US jobs data, China stimulus lifts oil

Dollar climbs despite relatively soft US employment report China stimulus measures boost oil prices and Asian stocks Gold trades with resilience, undeterred by dollar and yields Dollar defies cooler US jobs data An unexpectedly soft US employment report could not hold down the US dollar on Friday. While nonfarm payrolls slightly exceeded forecasts in August, revisions showed that employment growth in July and June was much weaker than previously reported.
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XM Research - 4 weeks ago

Market Comment – Calm ahead of US jobs report as markets pin hopes on cool-off

Dollar and stocks drift sideways as August payrolls awaited for direction Asian equities outperform after China boosts support but aussie fails to catch fire Oil extends rebound amid tightening market, gold holds near highs All eyes on August NFP report It’s been a week of ‘bad news is good news’ for the markets as investors ramped up their bets that rates in the US have peaked following a slew of soft data suggesting that Fed tightening is starting to put the brakes on the eco
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