Daily Market Comment – Special ECB announcement could rock the euro today

Posted on July 8, 2021 at 8:33 am GMT

ECB set to announce higher inflation target, Lagarde presser to follow Dollar little changed after Fed minutes, yen shines as yields crumble  Stocks retreat amid Chinese regulatory crackdown, oil tanks Euro braces for special ECB announcement The European Central Bank will announce the outcome of its strategic policy review at 11:00 GMT today, with a press conference by President Lagarde to follow 90 minutes later. Reports suggest the ECB will raise its inflation target to 2% and signal it will [..]

Daily Market Comment – Risk appetite hit by China virus fears

Posted on January 21, 2020 at 9:27 am GMT

Yen shines, Asian stocks drop as markets focus on virus outbreak BoJ preserves its limited firepower for a rainy day Busy day ahead: UK data, impeachment, World Economic Forum, and earnings Yen lifted by coronavirus concerns, but is this sustainable?  Financial markets traded quietly on Monday, with most currency pairs staying confined in very narrow ranges, as a public holiday in America and the absence of any noteworthy economic data releases in Europe left investors wanting. That all changed overnight [..]


European Open Preview – Pound spikes higher on Brexit news; eurozone PMIs and key Canadian data coming up

Posted on November 23, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar is nearly 0.3% lower against a basket of six major currencies on Friday, looking set to post a third day of declines in a row, without any fresh catalyst behind these moves. Meanwhile, the British pound soared on Thursday, buoyed by news that EU and UK negotiators reached an accord on the draft political declaration, setting the stage for the deal to be approved by EU leaders over the weekend. [..]


European Open Preview – Dollar retreats a bit as risk aversion takes a breather; ECB minutes due

Posted on November 22, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is a little lower on Thursday (-0.12%), extending losses from yesterday that were owed to disappointing US durable goods data and reports the Fed will debate whether to pause its hiking cycle early next year. The euro clawed back some of its recent losses, aided by optimism that the EU-Italy standoff may be resolved diplomatically. STOCKS: Wall Street closed mostly higher on Wednesday for the first time this week, amid [..]


European Open Preview – Dollar capitalizes on risk-off mood; euro eyes Italian budget saga

Posted on November 21, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is slightly lower on Wednesday (-0.17%), giving back some of the significant gains it recorded in the previous session as investors sought the safety of the world’s reserve currency. The loonie was the biggest underperformer, weighed down by another plunge in oil prices. Meanwhile, the yen and the franc attracted inflows amid the broad-based risk aversion, though both are a little lower today, as sentiment seems to have turned [..]


European Open Preview – Dollar extends pullback; BoE’s Carney appears before parliament

Posted on November 20, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX:The dollar index is marginally lower on Tuesday (-0.08%), extending the losses it posted in the previous session as US bond yields declined and a disappointing NAHB index fueled speculation the US economy may have peaked. The Swiss franc was the best performer, attracting inflows amid risk aversion in markets, while the euro followed closely in its tracks. The pound was little changed amid no fresh Brexit news, though investors may turn [..]


European Open Preview – Cautious Fed commentary weighs on dollar; Brexit, Italy, Sino-US trade in focus

Posted on November 19, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar is practically unchanged on Monday, licking its wounds after a considerable drop in the previous session, which came on the back of cautious commentary from Fed policymakers. The euro capitalized the most on the dollar’s retreat, remaining largely unfazed by the heightened volatility in the British pound. STOCKS: The Dow Jones (+0.49%) and the S&P 500 (+0.22%) closed higher on Friday, after US President Trump hinted at a potential “ceasefire” in [..]


US Open Preview – Sterling largely consolidates massive losses with PM May’s leadership on tightrope

Posted on November 16, 2018 at 12:28 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was slightly up versus a basket of currencies, with the closely watched British currency being broadly higher. Still, the pound mostly consolidated Thursday’s sharp losses on the back of the Brexit drama that unfolded, and which still appears to have room to run. One exception was the yen, which came on the receiving end of safe-haven flows and thus the pound was unable to advance against it – pound/yen [..]


European Open Preview – Brexit turmoil spooks sterling; Sino-US trade developments eyed

Posted on November 16, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The British pound plunged on Thursday after the UK Brexit Secretary quit in protest of the Brexit deal, and amid growing speculation PM May could soon face a leadership challenge. Meanwhile, the commodity-linked currencies – aussie, kiwi, and loonie – all gained ground on the back of a report that the US will pause its next round of tariffs on China. The dollar was little changed, unable to draw much strength from [..]


European Open Preview – Sterling stays volatile as UK Cabinet approves deal; US & UK retail sales due

Posted on November 15, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is little changed on Thursday (+0.07%), after posting some modest losses in the previous session. The British pound traded in a particularly volatile manner amid Brexit headlines, with the UK Cabinet giving its endorsement to the Brexit deal. Meanwhile, the aussie is the best performing currency among the majors today, following upbeat employment data out of Australia overnight. STOCKS: US markets remained under selling pressure on Wednesday, with financials underperforming [..]

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