crude oil

Daily Market Comment – Biden’s $1.9 trillion stimulus plan sparks profit-taking

Posted on January 15, 2021 at 9:28 am GMT

Stock markets drift lower as Biden’s relief plan raises execution questions Dollar undecided, caught between mild risk aversion and dovish Powell Euro starts pricing in the risks, sterling smiles as UK vaccinations accelerate Today: US retail sales, big bank earnings, and German leadership contest Markets worry Biden’s proposal will be watered down The US President-elect unveiled his new stimulus package to reawaken the American economy, which would cost $1.9 trillion. It includes direct payments of $1400, aid for state and [..]

Daily Market Comment – Euro ignores Merkel’s warning of prolonged German lockdown

Posted on January 13, 2021 at 9:19 am GMT

Dollar retreats after Fed officials play down prospect of QE tapering Euro capitalizes on dollar’s woes, even as Merkel warns of extended lockdown Stock markets quiet, but crude oil continues impressive bull run US inflation data and Fed speakers today could set the tone Dollar retreats as Fed’s George plays down tapering The world’s reserve currency came back under selling pressure on Tuesday as Fed officials poured cold water on speculation around a withdrawal of their massive liquidity programs. The [..]

Daily Market Comment – Biden floats new stimulus bill, US jobs report coming up

Posted on January 8, 2021 at 9:30 am GMT

Equity party continues to rage amid whispers of $3 trillion infrastructure bill Yen and gold suffer as global bond yields climb Dollar extends rebound ahead of nonfarm payrolls – an asymmetric event? Stock market freight train keeps on rolling Global markets remain in an ecstatic mood, with US equities powering to new record highs and defensive plays falling apart, as expectations for gargantuan stimulus packages in America continue to be baked in. The Democrats taking full control of Congress has [..]

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Daily Market Comment – Dollar can’t get off the floor as focus turns to Georgia

Posted on December 30, 2020 at 9:40 am GMT

Dollar hits fresh lows, stocks near record highs despite US Senate blocking $2000 checks Thin liquidity, or markets calculating what this implies for Georgia runoffs? Elsewhere, most assets are in a cheerful mood, but quiet overall 2020 was all about the stimulus game With the Brexit crusade out of the way, the US stimulus deal wrapped up, and the global vaccine rollout well underway, financial markets are about to end an incredibly chaotic year on a surprisingly optimistic note. The [..]

Daily Market Comment – Market panic vanishes amid signs of Brexit progress

Posted on December 22, 2020 at 9:33 am GMT

Sharp selloff turns into sharp rebound as UK waters down fishery demands US stocks and sterling stage epic comeback, close only a blip lower Similar story for the dollar, surrenders most virus-mutation gains Vaccines and liquidity are still the name of the game What selloff? US equities and sterling roar back Just when you think US stocks can bleed, dip-buyers return with a vengeance. The week kicked off with a substantial correction, the S&P 500 falling almost 2% amid worries [..]

Daily Market Comment – New virus strain hits equities, sinks sterling, boosts gold

Posted on December 21, 2020 at 9:45 am GMT

Stocks retreat, sterling tanks as new virus strain spreading in UK wreaks havoc US Congress reaches stimulus deal, but news unable to counter the gloom Dollar and gold capitalize on the nerves, crude oil and commodity FX hit hard Bleeding may continue as traders lock profits, but bigger picture unchanged Sterling tanks as health crisis compounds Brexit crisis A new strain of covid-19 that is far more infectious is spreading like wildfire across the UK, forcing local authorities to ‘cancel [..]

Daily Market Comment – ECB ‘disappointment’ lifts euro, equities struggle

Posted on December 11, 2020 at 9:34 am GMT

Euro jumps after ECB fails to over-deliver on stimulus package Stocks bounce as Mnuchin hails progress in stimulus talks, but fall back Oil breaks higher, unscathed by recent negative developments Brexit will continue to dominate ahead of Sunday ‘deadline’ ECB firepower fails to impress markets, euro spikes Those looking for a euro-killing stimulus package by the European Central Bank were left disappointed yesterday, with policymakers delivering exactly as much ‘juice’ as markets anticipated. The Bank expanded its QE program by [..]

Daily Market Comment – Investors on alert as California shuts down, gold glitters

Posted on December 8, 2020 at 9:32 am GMT

Markets revert to old pandemic playbook amid new US restrictions Nasdaq hits new highs, but other stock indices drop alongside oil Gold stages heroic comeback, bigger picture still encouraging Sterling on the back foot as PM Johnson heads to Brussels Big tech shines as pandemic concerns resurface A sense of caution has crept back into global markets, as investors try to balance the prospect of more government stimulus and central bank liquidity against the grim pandemic reality, with California announcing [..]

Daily Market Comment – Dollar on the ropes, aussie unfazed by China tariffs

Posted on November 27, 2020 at 9:02 am GMT

Greenback hovers near lows, markets quiet overall What’s the outlook for euro/dollar from here? China slaps tariffs on Australian wine, but aussie immune Crunch time in Brexit talks as EU negotiators travel to London All quiet on the FX front It was a relatively subdued session in global markets yesterday with US traders being away on holiday. Most stock indices closed flat and currency pairs generally traded in narrow ranges, with no real headlines to steer the price action and [..]

Daily Market Comment – Dollar on the defensive, market rally pauses

Posted on November 26, 2020 at 9:13 am GMT

Stock markets pause for breath, currencies quiet too Dollar the only notable FX mover, extends recent losses Crude oil retreats from highs as OPEC meeting looms Sterling in the spotlight as Brexit headlines turn cautious Markets calmer on Thanksgiving The ecstatic mood that prevailed in global markets earlier this week seems to have faded for now, with stock markets being essentially flat since Tuesday and most currency pairs confined in narrow trading ranges. There is a sense that investors are [..]

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