US Open Note – Stocks drift at record highs and dollar loses some resilience

Posted on July 27, 2021 at 1:35 pm GMT

Markets freeze as Fed meeting underway; US Consumer Confidence ahead It seems continued selling in Chinese tech giants has somewhat hampered risk appetite, which has been further muted as investors hold a cautious stance awaiting the conclusion of the Federal Reserve’s policy meeting tomorrow. The Fed is faced with a slightly more difficult task in this meeting as it will have to expand on the delta variant’s impact over bond yields as opposed to the outlook on rising prices, not [..]

Daily Market Comment – Turmoil in China but broader market mood steady

Posted on July 27, 2021 at 9:10 am GMT

Freefall in Chinese stocks enters third day but rest of Asia takes cues from Wall Street US shares get another earnings lift, hit new records, big day ahead for tech giants But it’s all quiet outside of equities as Fed decision awaited Pound outperforms, flirts with $1.38, as dollar drifts ahead of Fed outcome China shares crash again amid crackdowns Stocks in China and Hong Kong plummeted for a third day on Tuesday as technology, real estate and for-profit education [..]


US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]

Daily Market Comment – US equities shine ahead of Fed but caution prevails elsewhere

Posted on July 26, 2021 at 8:57 am GMT

Wall Street rallies on strong earnings even as US Covid hospitalizations surge Caution is the order of the day elsewhere as Delta and growth fears linger Dollar starts Fed week on steady note but yen and gold inch higher, yields slip again US stocks ride high; can anything spoil the fun? Wall Street ended Friday in a euphoric mood as Q2 earnings continued to beat expectations, but trading has gotten off to a much more cautious start on Monday, with [..]

Week Ahead – Fed to talk taper but stall on action; growth data in focus amid recovery doubts

Posted on July 23, 2021 at 11:16 am GMT

The Federal Reserve is expected to provide more hints on tapering when it meets next week but may stop short of revealing a timeline. Amidst jitters about the Delta variant, markets could whipsaw if the Fed cites both progress and dangers ahead. Meanwhile, US and Eurozone GDP readings could further muddle the market mood as they will likely confirm the solid rebound in Q2 even as uncertainty about the outlook is increasing. If all that wasn’t enough for investors to [..]


US Open Note – Markets recoup and dollar stays upbeat

Posted on July 21, 2021 at 1:44 pm GMT

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. Concerns after the initial jolt to markets around the virus rhetoric seem to have subsided somewhat. The US dollar index seems cemented around its recent highs and the pickup in the 10-year yield to 1.24% may be aiding the reserve currency [..]

Virus is surging and yields are tumbling; is inflation already yesterday’s news? – Special Report

Posted on July 21, 2021 at 9:42 am GMT

The last time there was so much panic in the markets about higher inflation was probably in the 1970s when oil price shocks were a common phenomenon. Although there’s not as much chance of inflation hitting the double digits this time round, major central banks are for the first time in decades facing the prospect of missing their upper price targets by a substantial margin. However, all the excitement may yet prove to have been about nothing as the global [..]


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

Posted on July 20, 2021 at 2:02 pm GMT

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. That said, the US recovery is clearly ahead of other lagging economies and may start to make headways again as uncertainty and delta variant related concerns start to establish themselves elsewhere. The dollar index is flirting with the 93.00 mark and is holding up fairly well in the forex arena despite the [..]


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

Posted on July 16, 2021 at 1:02 pm GMT

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. Dollar/yen is advancing above the 110.00 round number, surpassing the 40-day simple moving average (SMA) as retail sales for June gained 0.6% from the previous month, following a revised 1.7% drop in May and significantly outperforming market estimates of a 0.4% drop. Also, the Bank of Japan did not make any policy [..]

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

Posted on July 16, 2021 at 9:23 am GMT

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 [..]

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