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Market Comment

XM Research - 1 hour ago

Daily Market Comment – Risk-on takes a hit as China protests spark unease

Yen jumps, yields slip as anti-lockdown protests in China dent sentiment Oil slumps to one-year low amid rising concerns about Chinese demand Stocks start the week in the red as NFP and other crucial data eyed Growing protests in China rattle markets Risk assets took a knock at the start of the week as worries about instability in China and how the country’s unyielding zero-Covid policy might further blight the outlook led investors to search for safety.

XM Research - 3 days ago

Daily Market Comment – Dollar stays weak, ECB minutes reveal inflation fears

Dollar headed for weekly loss as Fed minutes continue to weigh ECB minutes show concerns about inflation becoming entrenched Oil prices stabilize above September lows Dollar continues to sail south in thin holiday trading The US dollar continued underperforming all but one of the other major currencies on Thursday, with the exception being the Swiss franc against which the greenback traded virtually unchanged.

XM Research - 4 days ago

Daily Market Comment – Dollar slides and Wall Street rises after Fed minutes

Fed minutes show that officials agreed on slower rate hikes Dollar extends slide against all other major currencies Wall Street adds to gains ahead of Thanksgiving Oil prices slip on price cap talks Dollar slides as Fed minutes reveal concerns about overshooting The US dollar extended its slide yesterday and kept drifting south during the Asian session today, with investors liquidating more of their long positions after the Fed released the minutes of its latest gathering.

XM Research - 5 days ago

Daily Market Comment – Risk assets rally ahead of Fed minutes, RBNZ lifts kiwi

Retreat in the dollar and yields helps fuel risk appetite Stock markets rally, kiwi jumps after RBNZ decision European PMIs paint grim picture, Fed minutes next Risk appetite returns Investors went on a shopping spree on Tuesday, raising their exposure to riskier assets without any clear news catalyst behind this sudden shift in sentiment.

XM Research - 6 days ago

Daily Market Comment – Dollar stands tall, yen resumes its decline

Dollar shines, yen slides as US yields march higher Oil recovers on Saudi signals, stocks chop around RBNZ to roll out another rate increase, but how big? Dollar kicks back Another round of hawkish rhetoric from Fed officials and a flight to safety resulting from China’s virus outbreaks propelled the world’s reserve currency higher as the new week kicked off.

XM Research - 1 week ago

Daily Market Comment – Dollar recovers, oil extends slide, stocks drift sideways

Dollar attracts safe-haven flows as China tightens restrictions Demand worries deal heavy blow to oil prices, gold retreats too Stock markets trade sideways, but fundamentals spell trouble Dollar regains ground The US dollar spent most of this month on the ropes, pressured by signs that inflation is simmering down and speculation that the Fed is in the final chapters of its tightening cycle.

XM Research - 1 week ago

Daily Market Comment – Markets steady despite Fed pivot hopes disappearing over the horizon

Dollar bolstered but gains limited after Bullard calls for Fed rate to hit at least 5% Higher Treasury yields pressure Wall Street but rebound already underway Yen shrugs off Japanese CPI jump, pound wobbles on gloomy UK budget Fed ratchets up hawkish rhetoric The bombardment of hawkish talk from Fed officials continued to set the tone on Friday, as the week ends on a somewhat more sombre tone than from how it started.

XM Research - 2 weeks ago

Daily Market Comment – Hawkish Fed, strong data ease dollar’s pain; pound buoyant ahead of budget

Dollar regains some footing as Fed officials again rule out early pivot Upbeat retail sales, warning from chip makers also dampen sentiment, stocks slip Pound extends gains despite fears Autumn statement will usher in austerity era Fed dashes hopes of a pivot The US dollar was steadier but still near this week’s lows on Thursday following the Fed’s latest concerted effort to extinguish market speculation of an imminent dovish pivot.

XM Research - 2 weeks ago

Daily Market Comment – Dollar extends slide after PPI data, does not stabilize on geopolitics

US PPI numbers support the case of a less aggressive Fed Missile blast in Poland kills two near border with Ukraine Asian stocks slide, but US futures point to higher open on Wall Street UK inflation surges by a full percentage point in October Dollar slides as PPI numbers support slower Fed hikes The US dollar continued trading lower throughout most of Tuesday, finishing the day down against all but one of the other major currencies, despite a late rebound on reports of a missile explosion in Poland.

XM Research - 2 weeks ago

Daily Market Comment – Dollar resumes slide, pound awaits CPI data and budget

Dollar under pressure after Brainard’s comments Pound traders turn gaze to inflation and fiscal agenda Wall Street closes in the red despite gains elsewhere Dollar comes back under pressure The US dollar traded higher against all but two of the other major currencies on Monday, helped by remarks from Fed Governor Christopher Waller, who warned that the Fed would not “soften” its fight against inflation, although they may consider slowing the pace of their future rate increases.

XM Research - 2 weeks ago

Daily Market Comment – Fed’s Waller tempers rate pause bets, relief rally cools

Dollar and yields edge up after Waller says Fed not done with rate increases But stocks evade sharp selloff as China property bailout adds to optimism Cryptos off lows despite FTX hack, gold pares gains, oil stays cautious Fed dampens hopes of early pause The US dollar got off to a steadier start on Monday and stocks were mixed after a top Fed official played down the significance of last week’s softer-than-expected CPI report in overnight comments.

XM Research - 2 weeks ago

Daily Market Comment – Inflation cooldown slams dollar, turbocharges stocks

Traders dial back Fed bets as US inflation cools down Dollar loses its shine, stocks and gold back in vogue Yen capitalizes on the dollar’s troubles, reversal time? Inflation relief A bombshell inflation report from the United States sent a wave of relief across global markets yesterday, sending the dollar into a tailspin and igniting a stunning rally in risky assets amid bets that the Fed is about to dial down its rate increases.

XM Research - 3 weeks ago

Daily Market Comment – Stocks haunted by crypto troubles, dollar braces for inflation test

Upcoming US inflation report will be crucial for dollar and risk-linked assets Stock markets turn down as crypto civil war sparks contagion concerns Sterling takes a hit as risk appetite sours, US election results still unclear Dollar eyes inflation test Global markets are on red alert for the latest batch of US inflation data later today.

XM Research - 3 weeks ago

Daily Market Comment – Dollar skids as midterm results and inflation data loom

Midterm votes counted so far point to political gridlock Dollar extends slide, inflation data the next test Wall Street ends Election Day higher Dollar extends slide on prospect of Republican-led House The US dollar lost further ground against its major peers on Tuesday.

XM Research - 3 weeks ago

Daily Market Comment – Dollar stays in corrective mode ahead of US midterm elections

Investors lock gaze on midterms as gridlock looms Dollar may slide, but reversal discussion remains premature Equities could cheer political stalemate Democrats set to lose control of Congress The US dollar continued to slide against every other major currency on Monday, still feeling the heat of a rising unemployment rate and remarks by four Fed officials who said that they would consider a smaller rate hike at their next gathering.

XM Research - 3 weeks ago

Daily Market Comment – Mixed US employment report leaves dollar with bruises

Dollar retreats, Fed bets ease as nonfarm payrolls offer mixed signals Stock markets, gold prices, and risk-linked assets enjoy relief rally Huge week ahead, featuring US midterm elections and inflation data Conflicting signals in US jobs report A mixed bag of US employment numbers left financial markets in disarray on Friday.

XM Research - 3 weeks ago

Daily Market Comment – Stocks pare post-Fed losses ahead of NFP on China hopes; BoE sinks pound

Dollar off highs, stocks turn positive as China reopening chatter lifts mood But NFP report could bring Fed tightening fears back into the fore Pound left reeling after BoE hikes big, warns of long recession Hopes of China reopening ease Fed gloom The run-up to the Fed meeting and its aftermath was a rollercoaster ride that didn’t end well for stocks.

XM Research - 4 weeks ago

Daily Market Comment – Powell lifts the dollar; BoE takes the central bank torch

Fed hints slower hikes, but Powell says rates will go higher Dollar gains, Wall Street falls as investors lift terminal rate BoE expected to hike by 75bps, biggest increment since 1989 Fed Chair Powell appears in hawkish suit Thursday was a resurrection day for the US dollar, which finished the day higher against all the other major currencies and continued marching upwards today as well.

XM Research - 4 weeks ago

Daily Market Comment – Investors lock gaze on Fed decision

Fed to hike by 75bps, attention to fall on language Market split on December hike, even after JOLTS upside surprise EU and Asian equities gain, Wall Street slides Will the Fed confirm hopes of slower tightening? The dollar traded mixed against the other major currencies on Tuesday but came under some broad-based selling today, with investors hoping that Fed Chair Powell and his colleagues will hint at slower rate increases when they announce their monetary policy decision later today.

XM Research - 4 weeks ago

Daily Market Comment – Stocks climb, dollar dips as Fed anticipation builds

Markets see-saw as speculation that Fed is nearing peak rates goes into overdrive Stocks turn positive, dollar retreats as some optimism returns, US data eyed RBA sticks with 25-bps hike, but aussie gains on China zero-Covid exit rumours Markets struggle for direction in wait for Fed decision Traders continued to weigh the odds of the Federal Reserve signalling an end to the run of jumbo-sized rate increases as the central bank begins its two-day monetary policy meeting on Tuesday.

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