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Market Comment

XM Research - 3 days ago

Daily Market Comment – Yen enjoys some relief as oil prices cool off

Yen bounces back as growth concerns pressure crude oil and yields New quarter but investors still defensive - stocks, aussie, kiwi down  Striking part is that gold cannot capitalize, hits six-week low instead Yen reprieve  The new quarter has not changed much in global markets.
XM Research - 4 days ago

Daily Market Comment – Wall Street under pressure as growth risks dominate

Markets price in Fed rate cuts for next year as recession woes deepen Dollar powers up, euro/franc breaks below parity, stock futures drop Oil retreats ahead of OPEC decision, America moves to ban TikTok Fed rate cuts?  An abysmal quarter for financial markets is finally drawing to a close, with bond and equity investors left shell-shocked from the relentless barrage of rising interest rates.
XM Research - 5 days ago

Daily Market Comment – Dollar advances, stocks roll over as growth worries return

Traders play some defense after US consumer confidence disappoints Dollar dominates, franc shines, tech stocks back under selling pressure German inflation stats and speeches by Fed, ECB, and BoE leaders today Royal flush Growth concerns returned to haunt global markets yesterday after the US consumer confidence index fell short of expectations, adding credence to the view that economic momentum is evaporating as the cost of living crisis bites.
XM Research - 6 days ago

Daily Market Comment – Oil prices edge higher on capacity concerns, yen retreats

Reports that Middle East producers are tapped out boost oil prices  Yen back under pressure - is the downtrend close to its conclusion? Wall Street loses some altitude, ECB forum in the spotlight Crude recovers  Oil prices edged higher for a third session on Tuesday, following reports that major producers such as the United Arab Emirates and Saudi Arabia are either completely tapped out or have little spare capacity to boost output.
XM Research - 1 week ago

Daily Market Comment – Inflation relief saves stocks, currencies trade quietly

Stocks rally in relief after Michigan inflation expectations get revised lower New theme is inflation vs recession risk, focus on GDPNow estimate today Major FX pairs stick to trading ranges, Russia defaults, gold bounces back  Relief rally Stock markets closed the week on a high note, rallying in relief after the final print of long-term inflation expectations in the University of Michigan survey was revised lower.
XM Research - 1 week ago

Daily Market Comment – Dollar stalls, stocks given a lifeline as rate hike bets scaled back

European and US PMI data underscore recession risks, dampen price outlook Falling commodity prices add to reduced inflation expectations Investors go back to the drawing board for central bank rate hike paths Stocks rejoice as yields slip too, but dollar consolidates Recession risks loom large Speculation that the major economies in Europe and America are on the verge of tipping into a recession continues to intensify as the flash PMI reports for June have provided fresh evidence that growth is stalling.
XM Research - 2 weeks ago

Daily Market Comment – Powell does little to ease recession concerns but selloff eases

Powell talks inflation and recession but Wall Street holds its nerve Flash PMIs underscore recession risks, euro and pound slip Oil extends losses as outlook weighs, investors question supply tightness Powell sticks to the script, mentions the ‘R’ word Fed Chair Jerome Powell largely stuck to familiar language in his semi-annual testimony before the Senate Banking Committee on Wednesday, repeating his message that the Fed is “strongly committed” to bringing inflation down.
XM Research - 2 weeks ago

Daily Market Comment – Wall Street bounces back but recession fears return to haunt markets

US stocks join global stock rebound but rally fizzles out already Recession fears intensify again ahead of Powell testimony Oil sinks as White House gets serious about lowering gasoline prices Dollar firmer, euro and pound find some support as aussie and kiwi sink Risk appetite fades amid renewed growth jitters Worries about soaring inflation and stalling growth were weighing on the market mood again on Wednesday as an increasing number of investors, including high-profile names such as Elon Musk, upped their odds of the US economy entering a recession this year.
XM Research - 2 weeks ago

Daily Market Comment – Stocks extend gains, dollar retreats as recession angst tempered

Market panic continues to ease, stocks claw higher, but mood is subdued Euro and pound nudge up on ECB and BoE comments, RBA caps aussie gains Powell testimony and data awaited for more direction Equities stage a cautious rebound The market turmoil sparked by last week’s round of central bank rate hikes receded further on Tuesday, as worries about a recession were put on hold while investors weighed the risks ahead of some key data and a congressional testimony by Fed Chair Jerome Powell.
XM Research - 2 weeks ago

Daily Market Comment – A calmer start after torrid week, spotlight on Powell testimony

Dollar eases off as risk appetite makes a tepid return, US futures edge up Euro climbs despite Macron losing parliamentary majority Fed hawks downplay recession risks but investors cautious ahead of Powell Commodity prices remain pressured after sharp selloff Panic selling pauses for now as yields pull back Markets got off to a steadier start on Monday following last week’s turmoil that tipped the S&P 500 officially into a bear market.
XM Research - 2 weeks ago

Daily Market Comment – Yen rolls over as BoJ refuses to join party, stocks pummeled

Bank of Japan delivers no policy changes, hammers yen back down  Stock market selloff intensifies, dollar hit by lower yields, gold shines Mixed signals from Bank of England send sterling on a rollercoaster ride BoJ holds the line The Bank of Japan stuck to its guns today, keeping its policy settings unchanged and doubling down on its commitment to maintain yield curve control - the strategy responsible for the carnage in the Japanese yen.
XM Research - 3 weeks ago

Daily Market Comment – Fed slams on the brakes, BoE decision next

Fed raises rates by 75 bps, dollar cools off, stocks bounce Bank of England could disappoint market expectations today SNB surprises with 50 bps rate hike, BoJ set to keep powder dry Fed goes big  The Federal Reserve raised interest rates by 75 basis points, in line with market pricing.
XM Research - 3 weeks ago

Daily Market Comment – Fed decision kicks off central bank bonanza

Markets expect Fed to raise interest rates by 75 bps today ECB calls emergency meeting today too - time to close spreads? Yen and sterling retreat ahead of their own central bank meetings Fed playbook The next couple of days are loaded with central bank meetings, kicking off with the Fed decision today.
XM Research - 3 weeks ago

Daily Market Comment – Fed bets embolden US dollar bulls, nuke stock markets

Markets in disarray as traders scramble to price in Fed warpath S&P 500 enters bear market, crypto implodes, dollar powers up  Despite all the panic, there’s also some encouraging news  Bear market blues All hell has broken loose in financial markets.
XM Research - 3 weeks ago

Daily Market Comment – Dollar and yields surge after US inflation jump, stocks sink

US CPI unexpectedly accelerates in May, fuelling fears of more big Fed rate hikes Wall Street tanks, dollar firms as yields keep rising ahead of central bank meetings Pound tumbles as UK economy sounds recession alarm bells, yen breaches 135 level No inflation peak in sight Inflation in the United States jumped to a fresh 40-year high of 8.
XM Research - 3 weeks ago

Daily Market Comment – ECB stokes recession, debt fears; dollar rally cools but stocks struggle still

Hawkish ECB spurs Eurozone yields to multi-year highs but euro flounders Dollar reclaims FX crown as all eyes now turn to US CPI report Growth and inflation worries dog equities but China bucks trend despite new lockdowns ECB joins global inflation fight, roils markets The European Central Bank laid out a path to terminating all asset purchases and launching a series of rate hikes on Thursday as it sharply raised its inflation forecasts.
XM Research - 4 weeks ago

Daily Market Comment – Euro steady ahead of ECB decision, stocks drift lower

Euro holds around $1.07 ahead of expected ECB stimulus pullout Elevated yields and oil prices weigh on equities, some relief from China trade jump Yen snaps losing streak, dollar gets caught in sideways range in CPI wait Cautious calm before ECB amid hawkish risks The European Central Bank meeting is undoubtedly the focal point for investors on Thursday in what could turn out to be the most important policy shift since Draghi’s ‘whatever it takes' moment.
XM Research - 4 weeks ago

Daily Market Comment – Choppy trading in build up to US CPI, central bank bonanza

Wall Street closes up but futures slip amid wavering sentiment Dollar maintains upward crawl as inflation and growth worries persist Yen keeps sinking, loonie outperforms as tight oil supply boosts prices Stocks lack direction but bargain hunters lurk Bargain hunters drove Wall Street higher on Tuesday, piling into defensive tech stocks and energy shares.
XM Research - 4 weeks ago

Daily Market Comment – Dollar edges up as yields spike, yen sinks, stocks come under pressure

Bond selloff gathers steam ahead of large Treasury auction, pushing yields higher Surprise big rate hike by RBA adds to jitters about rising borrowing costs, stocks slip Dollar climbs as yen tumbles, pound plunges too as Johnson’s woes not over Fresh bond rout rattles markets Bond yields surged on Tuesday as investors fretted about how far central banks will go to contain inflationary pressures that are rampaging around the world.
XM Research - 4 weeks ago

Daily Market Comment – Strong NFP report dampens Fed pause hopes

US economy still churning out jobs but Fed may have to keep hiking by 50 bps Stocks rebound after NFP-led dip as yields advance only marginally Euro slightly firmer ahead of ECB, pound shrugs off Johnson confidence vote Strong NFP: a case of glass half full? America’s roaring labour market added a stronger-than-expected 390k jobs in May, while the unemployment rate held steady at 3.

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