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Market Comment

XM Research - 5 hours ago

Daily Market Comment – Dollar soars, stocks dive after NFP shock; yen skids on BoJ rumours

Jump in payrolls halts tech rally, revives dollar bulls; Fed speakers eyed next Yen tumbles on reports that Kuroda successor will be architect of BoJ’s ultra-easy policy Gold takes a hit from surging yields, but pares losses on US-China tensions Markets learning to not fight the Fed Friday’s payrolls report sent markets into a spin as the US economy added a staggering 517k jobs in January, disproving concerns about a worsening slowdown.
XM Research - 3 days ago

Daily Market Comment – Euro and pound slide after ECB and BoE, NFPs enter the limelight

ECB’s Lagarde signals another 50bps hike in March BoE’s Bailey says inflation is turning the corner Investors lock gaze on US jobs data ECB President Lagarde appears in hawkish suit but euro slides After the Fed, it was the turn of the ECB and the BoE to announce their monetary policy decisions yesterday.
XM Research - 4 days ago

Daily Market Comment – Fed flushes dollar down the drain, ECB and BoE next

Fed chief strikes neutral tone, markets take it as ‘green light’ to party ECB and BoE decisions coming up, both set for 50bps rate increases Earnings season goes into full force with Apple, Amazon, and Google Dollar crumbles, stocks surge after Fed As expected, the Federal Reserve raised interest rates by one quarter of a percent yesterday and flagged further tightening to come.
XM Research - 5 days ago

Daily Market Comment – Fed decision kicks off central bank bonanza

Fed set to raise rates by 25bps but what tone will Powell strike?  Dollar remains on the back foot, stocks resume euphoric rally Meta reports earnings, ECB and BoE decisions awaited tomorrow Fed balancing act All eyes will be on the FOMC rate decision today.
XM Research - 6 days ago

Daily Market Comment – Dollar gains ahead of major central bank decisions

Dollar gains ahead of tomorrow’s Fed decision Spain’s inflation accelerates for the first time in six months Euro/dollar could slide, but outlook stays positive Treasury yields rise, weighing on Wall Street Will the Fed add a hawkish flavor to a smaller hike? The US dollar traded higher against all the other major currencies on Monday and continued to gain ground against most of them today as well.
XM Research - 1 week ago

Daily Market Comment – Dollar stable, euphoric stocks turn lower as busy week begins

FX market in a stalemate ahead of crucial central bank decisions Wall Street takes a step back after bull run, tech earnings loom Oil ignores military strikes against Iran, awaits OPEC meeting  FX traders brace for central bank updates A massive week lies ahead for investors.
XM Research - 1 week ago

Daily Market Comment – Techs extend rally amid optimism, dollar eyes inflation data

Wall Street in buoyant mood despite mixed earnings as Tesla surges Dollar firms after solid growth data, PCE inflation coming up next Yen edges up as BoJ yield policy tested again after Tokyo CPI rise Equities shrug off gloom as tech stocks rally The Nasdaq is headed for a fourth consecutive weekly gain, outperforming both the S&P 500 and the Dow Jones, as tech stocks stage a surprise comeback in 2023.
XM Research - 2 weeks ago

Daily Market Comment – Dollar slides ahead of US GDP data, BoC signals likely pause

Dollar continues to slide on Fed pivot bets US GDP numbers for Q4 enter the limelight More ECB hawks flap their wings Loonie slides as BoC says it will likely stop raising rates BoC pause adds to bets that the Fed will follow suit The US dollar traded lower against all but two of the other major currencies on Wednesday, with the exceptions being the Canadian and New Zealand dollars.
XM Research - 2 weeks ago

Daily Market Comment – US business activity shrinks, BoC decision up next

US continues to contract while Eurozone returns to growth Aussie gains on accelerating inflation BoC expected to deliver one last hike Wall Street ends mixed, awaits more earnings results PMIs confirm divergence between ECB and Fed interest rate bets Although euro traders were not overly impressed by yesterday’s preliminary PMI data suggesting that the Eurozone returned to growth in January, the contrast to the US numbers that came out later in the day may have allowed euro/dollar to stay in uptrend mode.
XM Research - 2 weeks ago

Daily Market Comment – Wall Street jumps ahead of key earnings and data

Tech stocks surge as S&P 500 closes above 4,000, all eyes on Microsoft Euro eases off highs amid signs of ECB divisions, mixed PMIs also weigh Dollar struggles as Fed bets trimmed, gold hits fresh highs Wall Street bulls fire up ahead of tech earnings Growing hopes that the Fed will soon call time on its aggressive rate-hiking campaign continued to feed optimism in equity markets, pushing the S&P 500 above the 4,000 level on Monday.
XM Research - 2 weeks ago

Daily Market Comment – Fed signals downshift, lifting Wall Street, but dollar sags

Fed officials warm up to 25-bps rate hikes, cheering equity markets But dollar takes a hit, stands firm only against sinking yen Euro powers on as ECB hawk puts foot down, flash PMIs eyed Fed enters blackout with a nod to slower hikes Trading got off to a quieter start on Monday, as China and other major markets in Asia are closed for the Lunar New Year celebrations, and Friday’s risk rally lost some steam, but the positive sentiment continued to prevail across asset classes following some encouraging Fed commentary.
XM Research - 2 weeks ago

Daily Market Comment – Dollar subdued, euro rebounds, yen retreats

Dollar trades lower even as initial jobless claims beat estimates Euro rebounds after Lagarde appears hawkish Yen retreats, but stays in broader uptrend Wall Street records another day of losses Dollar unimpressed by slide in jobless claims The US dollar finished Thursday lower against most of the other major currencies, gaining only versus the risk-linked aussie and kiwi.
XM Research - 3 weeks ago

Daily Market Comment – US data disappoints, yen stages comeback

US data revive recession fears, add to pivot view Yen recovers post-BoJ losses, stays in uptrend Euro awaits ECB minutes and Lagarde’s speech S&P 500 comes under pressure after testing key downtrend line Weak data add credence to Fed pivot hypothesis The US dollar finished Wednesday mixed against the other major currencies and continued in a similar fashion today.
XM Research - 3 weeks ago

Daily Market Comment – Yen tumbles on BoJ decision, US data enters the limelight

Yen falls as BoJ defies bets for more policy tweaks US retail sales and PPI data the dollar’s next test Wall Street at the mercy of data and earnings Yen tumbles as BoJ keeps yield control policy untouched The protagonist in the first chapter of today’s FX episode is the Japanese yen, which came under strong selling interest after the Bank of Japan stuck to its ultra-loose monetary policy, disappointing expectations that it could further tweak its yield curve control policy.
XM Research - 3 weeks ago

Daily Market Comment – Yen slips ahead of BoJ, stocks subdued as Chinese growth slows

Markets cautious before BoJ as traders on guard for another policy tweak China’s economy slows but avoids contraction, stocks turn lower Dollar steady as US data and Fed speakers eyed for direction Yen rally takes a breather as BoJ awaited The Japanese yen extended its retreat from its latest highs on Tuesday, though it was flat against the US dollar, amid intense speculation as to what the Bank of Japan will decide when it concludes its two-day policy meeting on Wednesday.
XM Research - 3 weeks ago

Daily Market Comment – Yen, gold, and stock markets power higher

Yen goes on a rampage ahead of crucial BoJ decision this week Gold hits new highs, driven by Fed speculation and softer dollar Euphoria engulfs markets as stocks, crypto, and risk-linked FX gain Yen soars ahead of BoJ After sinking to the depths of Hades last year, the Japanese yen has staged a spectacular comeback.
XM Research - 3 weeks ago

Daily Market Comment – Dollar extends slide as US inflation cools further

US inflation cools further, declines in monthly terms Dollar slides on Fed-pivot trade Yen and euro the main gainers against greenback Equities extend recovery, earnings season begins Dollar takes another hit from the US inflation data The US dollar slid against all the other currencies on Thursday, with the main gainers being the yen and the euro.
XM Research - 4 weeks ago

Daily Market Comment – Investors lock gaze on US inflation numbers

Dollar trades mixed ahead of US CPI data Inflation expected to further slow Euro, yen could continue outperforming the dollar Wall Street trades in the green on inflation optimism Will US CPI numbers corroborate the Fed pivot view? The US dollar traded mixed against the other major currencies yesterday and continued in a similar fashion today.
XM Research - 4 weeks ago

Daily Market Comment – Stocks mostly positive, dollar steady in wait for US CPI

Markets’ focus entirely on US inflation report after Powell does not comment on rates Stocks perk up somewhat as traders pin hopes on another CPI drop Dollar selloff aborted for now, aussie lifted by data, gold extends gains Markets on hold as CPI data awaited for direction Fed Chair Jerome Powell refrained from commenting on the interest rate outlook when he took part in a panel discussion on Tuesday, much to the relief of investors.
XM Research - 4 weeks ago

Daily Market Comment – Equities turn cautious ahead of Powell after Fed speakers dent risk rally

Tech stocks outperform on Wall Street as S&P 500 rebound flounders on hawkish Fed Powell and other central bank heads eyed in first key remarks of 2023 Dollar steadies but euro and gold maintain bullish bias Mood sours as Fed unwilling to defuse recession fears Hopes that a slowing American economy and easing price pressures would assuage the inflation hawks at the Fed were dealt a major blow on Monday, spoiling the post-NFP risk rally.

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