XM Research

Market Comment

XM Research - 1 day ago

US Open Note – Stocks to close the week unharmed as the focus turns to the Fed

Stocks flirt with record highs Despite a choppy week, which spurred pandemic fears before putting them back to rest again, global stocks bound up their wounds as investors cheered on robust corporate profits and assessed that fiscal and monetary policy could still protect economies from covid breakouts.

XM Research - 1 day ago

Weekly Comment - Fed meeting and a barrage of data coming up

The week started with investors losing their cool over a slowdown in global growth as the Delta variant continued to rampage, but the panic soon faded and stock markets returned to record highs.

XM Research - 1 day ago

Daily Market Comment – Stormy week ends with US stocks at record highs

Nasdaq 100 closes at new record as investors warm up to tech stocks Euro heads lower after ECB commits to negative rates for longer Global PMIs coming up to shed some light on recovery speed Delta blues fade There was no shortage of volatility in financial markets this week.

XM Research - 2 days ago

US Open Note – ECB delivers new guidance but no surprises; stocks stay on recovery mode

Risk-aversion fades Concerns over the Covid delta variant and its potential drag on global growth took a back seat on Thursday, letting risk-sensitive currencies such as the Aussie and the kiwi pare some of Monday’s damage and become the best performers of the day.

XM Research - 2 days ago

Daily Market Comment – ECB to commit to negative rates

ECB meets, likely to lock itself into cheap money for longer Wall Street approaches record highs again as Delta scare fades Dollar pulls back, commodity FX recovers, gold can't catch a break ECB to strengthen forward guidance The main event today will be the European Central Bank meeting, which should be interesting after President Lagarde promised to deliver new policy signals.

XM Research - 3 days ago

US Open Note – Markets recoup and dollar stays upbeat

Markets retain buoyancy as forex arena looks to ECB decision The domino effect from the latest delta variant shock around infection spikes seems to have been short lived as US major indices today continued to recoup recently surrendered ground.

XM Research - 3 days ago

Daily Market Comment – Wall Street bounces back, dollar powers higher

Stock markets claw back losses as dip buyers return Dollar cruises higher with a little help from recovering yields But commodity currencies remain under pressure Dip buyers win again Wall Street staged a fierce comeback on Tuesday, without any particular catalyst behind this impressive recovery.

XM Research - 4 days ago

US Open Note – Stocks gain some footing; coronavirus dejavu-jitters linger

Stocks adjust to delta trauma while dollar holds firm Markets seem to be gradually regaining consciousness from yesterday’s risk-off blow even as yields are on the back foot.

XM Research - 4 days ago

Daily Market Comment – Economic growth worries torment stocks and oil

Economic slowdown concerns hit stocks, oil gets demolished Commodity currencies struggle too, dollar and yen shine But the panic could fade soon, as stimulus hopes return Pandemic blues hit markets Worries that the rampaging Delta variant will hamstring the global recovery took a bite out of riskier assets on Monday.

XM Research - 5 days ago

US Open Note – Pandemic anxiety spurs risk aversion; Wall street futures in the red

Pandemic uncertainty resurfaces The cocktail of a contagious Covid delta variant and the stabilization in vaccinations revived memories of lockdown restrictions and amplified inflation fears at a time when investors were confident that the summer months could boost economic growth, especially in the hardest-hit tourism sector.

XM Research - 5 days ago

Daily Market Comment – Virus fears return to haunt markets

Global stocks lose altitude as investors sense something ominous Sterling caught in the storm too, loonie slides with oil after OPEC deal Dollar and yen stand tall amid flight to safety, gold not so fortunate Gloomy mood spreads The sense of caution that dominated the bond market recently is now spreading over into stocks and currencies, leaving investors puzzled over what’s behind all the gloom.

XM Research - 1 week ago

Weekly Comment - Another ECB headache for the euro

Markets didn’t care much for another scorching US inflation number this week, dismissing the acceleration as something that will fade soon.

XM Research - 1 week ago

US Open Note – Dollar rises further after retail sales; kiwi is notably up

Dollar continues to gain momentum as retail sales rise The US dollar is attempting to move higher against a basket of major currencies with US stock futures recovering some of yesterday’s losses.

XM Research - 1 week ago

Daily Market Comment – Dollar heads for weekly gains, only kiwi can keep up

The US dollar is eyeing a strong close to the week; can retail sales ruin its chances? Other majors flounder, except for kiwi, as strong CPI reinforces RBNZ rate hike bets Stocks struggle despite ultra-dovish Powell amid fears growth momentum has peaked Safe havens thrive as outlook gets cloudier It’s been an action-packed and what should have been a positive week for risk assets, with the earnings season getting off to a good start, the Fed’s Powell maintaining his pledge for ultra-accommodative policy and Congress edging closer on both the partisan and bipartisan components of Biden’s infrastructure plan.

XM Research - 1 week ago

US Open Note – Stocks sluggish at highs and dollar returns to yesterday’s levels

Stocks ease a tad ahead of Fed Chairman Powell’s upcoming comments The poker face of the Chairman of the Federal Reserve seems to still have markets convinced that inflation is transitory, after delivering rhetoric of a cautious but dovish nature yesterday in his remarks.

XM Research - 1 week ago

Daily Market Comment – Powell calms inflation nerves; dollar and yields dip but stocks unfazed

Fed chief Powell plays down inflation spike, says tapering is “a ways off” Dollar and yields head back down before virus fears re-emerge, yen climbs Equities only modestly boosted as growth concerns weigh after China GDP miss Powell soothes nerves but hints at U-turn Fed Chair Jerome Powell sought to allay growing worries that the bout of higher inflation is here to stay and that stimulus would have to be dialled back soon when testifying before lawmakers on Wednesday.

XM Research - 1 week ago

US Open Note – Greenback extends pullback before Powell’s testimony

Dollar declines ahead of Powell’s testimony Fed Chair Powell will today testify in front of the House, and tomorrow, he will testify in front of the Senate.

XM Research - 1 week ago

Daily Market Comment – US CPI spikes again, dollar rallies; kiwi surges too after RBNZ ends QE

US inflation jumps again, sending stocks spinning and dollar and yields flying RBNZ shocks by halting bond purchases, kiwi soars as August rate hike eyed Powell testimony in the spotlight as Fed’s patience put to the test Markets settle down after another CPI shock Annual inflation in the United States hit a fresh 13-year high of 5.

XM Research - 2 weeks ago

US Open Note – Stocks dip from record highs and dollar soars after CPI beat

Markets digest key US inflation data Market composure and the subdued volatility in the forex arena quickly faded as today’s US CPI data beat expectations.

XM Research - 2 weeks ago

Daily Market Comment – Wall Street hits record before earnings kickoff, dollar holds firm

Earnings optimism drives US equities to fresh record highs ahead of bank results Risk appetite still shaky in FX markets, dollar and yen resist deeper selloff US inflation data and Powell testimony will be key in directing sentiment Wall Street rallies as reopening boost eyed It’s the start of the second quarter earnings season and optimism is running high that the reopening of the US economy will power corporate earnings to new peaks.

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