XM does not provide services to residents of the United States of America.

Market Preview

Market Comment – Yen gains on BoJ remarks, dollar awaits key inflation data

Posted on February 29, 2024 at 9:31 am GMT

BoJ’s Takata signals that policy adjustment is approaching Dollar braces for PCE inflation data Wall Street pulls back, Bitcoin surges above $60,000 BoJ’s Takata adds fuel to yen’s engines The US dollar traded higher on Wednesday, but it seems to be cooling down today, as it is trading virtually unchanged or lower against most of its major peers, with the main gainer being the Japanese yen. The wounded yen found some footing after Bank of Japan board member Hajime Takata [..]

Market Comment – Kiwi plunges on RBNZ’s dovish turn, Wall Street consolidates

Posted on February 28, 2024 at 9:56 am GMT

Aussie and kiwi take a dive as Australian CPI, RBNZ ease rate hike fears China’s property troubles also weigh Wall Street and dollar await PCE data for direction RBNZ disappoints hawkish bets The Reserve Bank of New Zealand did not live up to the hawkish expectations that had been building up in the run up to today’s interest rate decision. Despite the recent hawkish commentary from Governor Orr and much speculation that the next move in the OCR is more [..]

Market Comment – Dollar stays on the backfoot ahead of key data, yen enjoys CPI lift

Posted on February 27, 2024 at 10:25 am GMT

Traders await some key data releases, RBNZ decision amid quiet start to the week Yen broadly firmer after CPI beat, adds to dollar weakness as euro extends gains Equity rally loses some steam but Bitcoin surges Markets calm ahead of data flurry as dollar struggles The US dollar was headed for its seventh straight session of losses against a basket of currencies on Tuesday even as investors continued to scale back their rate cut expectations for the Fed. There’s been [..]

Market Comment – Dollar gains ground ahead of key inflation data

Posted on February 26, 2024 at 9:22 am GMT

Dollar rebounds as PCE inflation data eyed Investors continue to scale back Fed rate cut bets Kiwi slides but RBNZ hike chance remains unchanged Wall Street loses steam, focus could turn on monetary policy Core PCE index the dollar’s next test The US dollar traded somewhat higher against most of the other major currencies on Friday, losing some ground only against the pound, the aussie and the kiwi. The greenback began the new week higher or virtually unchanged, gaining the [..]

Market Comment – Nvidia supercharges tech rally, euro loses momentum

Posted on February 23, 2024 at 10:00 am GMT

Stock markets hit new record highs after stellar Nvidia earnings Euro surrenders early gains as German economic gloom intensifies Dollar recovers with help from solid data, risk-linked currencies shine Tech propels stocks to new highs Equity markets rode to new record highs on Thursday, after a stellar earnings report from Nvidia lit a fire under tech shares. The world’s most important chip designer knocked it out of the park as it delivered earnings and revenue that easily beat analyst estimates, [..]

Market Comment – Fed minutes confirm caution about lowering rates

Posted on February 22, 2024 at 9:46 am GMT

Fed minutes reveal concerns about lowering rates too soon Rate cut bets are pushed back but dollar remains unimpressed Kiwi continues to gain on increasing RBNZ hike speculation Wall Street closes mixed, Nvidia beats earnings estimates Dollar slides further despite hawkish Fed minutes The dollar traded lower against all but one of its major counterparts yesterday, with the New Zealand dollar being once again the main gainer and the Japanese yen the exception. The minutes of the latest FOMC decision [..]

Market Comment – Fed minutes and Nvidia earnings in the spotlight

Posted on February 21, 2024 at 9:24 am GMT

Dollar gets knocked down ahead of FOMC meeting minutes Gold recovers more ground, China-related assets gain after rate cut Nvidia earnings later today will set the tone in stock markets Fed minutes to drive the dollar The US dollar hit an air pocket this week, losing altitude without any clear news catalyst behind the decline. Incoming data continues to point to a US economy that is running hot, with economic growth on track to hit 3% this quarter, a historically [..]

Market Comment – Dollar in wait and see mode, kiwi extends gains

Posted on February 20, 2024 at 9:02 am GMT

Dollar trades mixed as traders await tomorrow’s Fed minutes Kiwi extends gains on bets that the RBNZ could hike again Aussie remains unimpressed by hawkish RBA minutes China announces biggest ever cut in 5-year LPR Fed minutes the next test for the dollar The US dollar traded mixed against the other major currencies on Monday as US markets remained closed in observance of President’s Day. The greenback gained some ground against the pound, the franc and the loonie, while it [..]

Market Comment – Dollar unable to capitalize on hot inflation prints

Posted on February 19, 2024 at 9:27 am GMT

US producer prices come in hot, but dollar cannot sustain gains Stock markets take a step back, Nvidia earnings to set the tone Gold recovers recent losses with some help from geopolitics Dollar not impressed The US economy continues to run hot. Incoming data point to solid economic growth, the labor market remains tight, and inflation is not cooling down as quickly as investors had hoped. Last week’s releases reaffirmed this narrative, with both consumer and producer prices rising by [..]

Market Comment – Rate cut bets boosted by surprise dip in US retail sales

Posted on February 16, 2024 at 10:19 am GMT

‘Higher for longer’ fears ease as US consumers spend less Pullback in yields propels S&P 500 to another record close Dollar softness props up euro as ECB doves get more vocal Early rate cut hopes thrown a lifeline After a string of upbeat data on the US economy, investors almost breathed a sigh of relief on Thursday when the latest retail sales numbers disappointed, calming nerves about an overheating economy. Rate cut expectations have suffered several setbacks since January amid [..]

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.