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Market Comment

XM Research - 18 hours ago

Market Comment – Dollar slides, gold shines after soft US labor market data

Dollar drops as jobless claims signal labor market is losing steam Gold and stock markets climb, capitalizing on Fed rate cut bets Sterling retreats on BoE decision, but recovers after GDP stats Softer US jobs data fuels rate cut hopes  Global markets are set to close the trading week in a cheerful mood after another round of incoming US employment data pointed to an ongoing softening in the labor market, fueling hopes that the Fed might cut interest rates sooner than anticipat
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XM Research - 2 days ago

Market Comment – Pound slides ahead of Bank of England decision

BoE meeting in the spotlight today - likely to downplay June rate cut Yen languishes, trapped between FX intervention and low interest rates Dollar recovers, stocks and gold steady, waiting for US inflation update BoE - No rate cuts yet In a relatively quiet week, the spotlight today will fall on the Bank of England’s interest rate decision.
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XM Research - 3 days ago

Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing

Fed expectations drive the market; three Fed speakers on the wires today Dollar recovers but all eyes are on the US stocks and Treasury yields The pound prepares for the BoE meeting as elections gain more airtime Yen on the back foot again; gold steady amid the Israeli ground operation Dollar recovers, equity rally stalls The US dollar has almost erased its NFP losses against the euro as the US stock indices’ rally has stalled.
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XM Research - 4 days ago

Market Comment – Dollar stays weak as Fed rate cut bets increase

US labor market cools more than expected Dollar slides as two rate cuts this year become more likely Yen retreats as intervention momentum fades Wall Street cheers prospect of lower interest rates Investors add back to their Fed rate cut bets The US dollar tumbled across the board on Friday and extended losses against some of its major peers on Monday after the US employment report revealed that the world’s largest economy saw its fewest job gains in six months in April, whi
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XM Research - 1 week ago

Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP

Risk appetite returns after dovish Fed, but will jobs report spoil the party? Apple to likely secure weekly gains for Wall Street Yen rally gets additional boost from softer dollar after suspected interventions Fading rate hike fears lift markets Investors appear to be positioning themselves to end the week on a high note after a tumultuous week for both equity and FX markets.
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XM Research - 1 week ago

Market Comment – Dollar slides as Powell rules out rate hikes

Fed appears less hawkish than expected Dollar and Treasury yields pull back Yen rallies on another round of suspected intervention Wall Street trades cautiously ahead of NFPs Fed is still leaning towards rate cuts The US dollar slipped against all its major counterparts yesterday, losing the most ground against the Japanese yen, with dollar/yen closing the day slightly more than 2% down.
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XM Research - 1 week ago

Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed

Fed meeting in the spotlight; equities under pressure Dollar strength continues, could intensify if Fed appears hawkish Questionable yen intervention result; more action over the next sessions? Bitcoin fights for $60k level; oil in retreat despite Middle East headlines May starts on a high note The Fed meeting concludes today with the decision announced at 18:00 GMT and the press conference taking place 30 minutes later.
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XM Research - 2 weeks ago

Market Comment – Dollar rebounds, yen off highs after suspected intervention

Yen eases from highs as Japanese authorities stay mum on intervention Dollar creeps higher, euro softer as attention turns to Eurozone economy Stocks mixed ahead of more key earnings, gold extends losses Yen on edge as no word on intervention FX markets remained wary but were steadier on Tuesday following yesterday’s rollercoaster ride for the Japanese currency.
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XM Research - 2 weeks ago

Market Comment – Yen spikes on suspected intervention; big week awaits the dollar

Yen reverses higher after breaching 160/dollar, but no comment on intervention Dollar slips despite more hot inflation data; Fed decision and NFP loom large Stocks extend gains on earnings, strong US economy Yen slump triggers rally, but is it intervention? The yen sank to new 34-year lows against the US dollar in Asian trading on Monday, extending its slide from Friday when upbeat US economic data piled fresh pressure on the Japanese currency.
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XM Research - 2 weeks ago

Market Comment – Yen keeps sinking after Bank of Japan decision

Yen falls to fresh multi-decade lows after BoJ rate decision US GDP flashes mixed signals, dollar retreats in aftermath Stocks recover on solid tech earnings, gold resumes uptrend  Yen plummets - how close is FX intervention?  The Japanese yen continues to melt down, hitting new multi-decade lows against the US dollar after the Bank of Japan refrained from providing any concrete signals on further rate increases and following some disappointing inflation data from Tokyo.  Ev
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XM Research - 2 weeks ago

Market Comment – Yen tumbles to fresh lows, dollar awaits GDP

Yen falls to new 34-year low ahead of BoJ decision Dollar traders await GDP and PCE data Wall Street mixed, gold stays on the back foot Will Ueda appear in a hawkish suit this time? The yen extended its tumble to a fresh 34-year low, falling below 155.00 per dollar. With less than 24 hours to go for the Bank of Japan’s decision, investors are likely sitting on the edge of their seats in anticipation of the gathering’s outcome.
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XM Research - 2 weeks ago

Market Comment – Stocks in the green, dollar stable as next batch of US data awaited

Stocks feeling more positive following the US PMI miss Busy earnings calendar as focus remains on US data prints Dollar/yen remains a tad below 155 ahead of the BoJ meeting Aussie benefits from stronger CPI report Market wants more of the PMI surveys medicine The recent US data prints and particularly the mid-April inflation report has clearly alarmed the market of the possibility that the Fed could keep its rates unchanged in 2024. This is quite a shift considering that i
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XM Research - 3 weeks ago

Market Comment – Dollar pulls back, but yen hits new 34-year low

Dollar loses ground against risk-linked currencies But yen continues to slide to new 34-year low Stocks rebound, gold falls on easing geopolitical concerns Key US data could further weigh on Fed rate cut bets The US dollar retreated somewhat against most of its major peers on Monday, losing the most ground against the risk-linked currencies kiwi, aussie and loonie, perhaps as the cooling Middle East tensions allowed investors to increase their risk exposures.
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XM Research - 3 weeks ago

Market Comment – Risk appetite returns as geopolitical fears calm

Global markets in a better mood amid lack of Iran-Israel escalation  Stocks recover after sharp selloff, oil and gold prices turn down  Busy week ahead for economic data releases and tech earnings Relief rally Global markets started the new week on a positive note, as the absence of further escalation in the Israel-Iran crisis helped calm investor nerves.
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XM Research - 3 weeks ago

Market Comment – Safe havens jump as Israel retaliates against Iran

Gold, franc, yen and oil spike higher after Israel strikes Iran But gains are pared after retaliatory response seen to be limited Stocks head deeper into the red after disappointing tech earnings Markets on alert as ME tensions re-escalate After days of speculation about a possible retaliatory action, Israel launched strikes on Iranian targets overnight, in direct response to Iran’s missile and drone attack last Saturday.
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XM Research - 3 weeks ago

Market Comment – US dollar on the back foot as nervousness lingers in equity markets

Euro edges higher despite continued hawkish commentary from Fed officials Geopolitical developments cast doubt on ECB June rate cut Yen fails to make considerable gains as market looks to Friday’s CPI data Dollar is on the back foot today Euro/dollar is rising today after testing the 1.06 level. The combination of dovish commentary from the ECB and hawkish Fedspeak, which played a key role in the recent dollar outperformance, appears to have lost its market-moving ability toda
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XM Research - 3 weeks ago

Market Comment – Geopolitics and Fedspeak keep stocks under pressure

Stocks remain under pressure as Fedspeak and US data dent rate cuts chances Dollar remains dominant against both the euro and the yen UK inflation surprises on the upside; the pound tries to rally A plethora of Fed, ECB and BoE speakers to keep the market on its toes today Stocks remain under pressure across the globe The market’s attention remains firmly on Middle East developments.
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XM Research - 4 weeks ago

Market Comment – Stocks slide, dollar soars as rate cut bets take another hit

Surging US retail sales dampen Fed rate cut expectations Wall Street sinks, dollar scales fresh highs as yields jump China GDP beat offers only tepid support as March data disappoints Yen continues to tumble, risk of intervention grows The problem with a hot economy As markets awaited Israel’s response to Iran’s missile and drone assault over the weekend, Fed rate cut expectations took centre stage again.
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XM Research - 4 weeks ago

Market Comment – Iranian attacks put markets on edge, but fallout limited

Markets steady after Israel and allies intercept Iranian missiles and drones Hopes of no further escalation in conflict lift equities, oil slips But gold and dollar hold near highs Yen at fresh 34-year lows ahead of US retail sales Markets brush off Middle East escalation Iran’s unprecedented attack on Israel over the weekend was met with an unusual calm in the markets on Monday as investors downplayed the risk of an Israeli counteroffensive.
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XM Research - 4 weeks ago

Market Comment – Dollar pulls back; ECB sends clearer cut signals

Dollar takes a breather, but Fed bets remain unchanged Euro suffers as ECB points to June rate cut Yen intervention warnings intensify S&P 500 and Nasdaq rebound, gold hits fresh record high Fed officials say rate cut not imminent The US dollar pulled back against most of its major peers yesterday, taking a breather following Wednesday’s CPI-related rally, perhaps as the softer-than-expected PPI numbers allowed traders to lock in some profits.
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