Daily Market Analysis

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European Open Preview – Trade hopes lift markets; pound cruises higher

Posted on January 18, 2019 at 8:45 am GMT

Stocks advance, safe-havens tumble on reports US could roll back China tariffs In the UK, sterling surges without Brexit news; sentiment is improving Today, Canadian inflation figures and Fed speakers may steal the show Stocks jump, yen softens on reports US may lift China tariffs Risk appetite firmed during the late US session on Thursday, following a WSJ report that US Treasury Secretary Mnuchin considered whether to lift the tariffs on Chinese products as a gesture of good faith during [..]

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European Open Preview – May suffers Brexit defeat, can she survive no-confidence vote?

Posted on January 16, 2019 at 8:55 am GMT

Sterling recovers despite May’s Brexit defeat; no-confidence vote due today Euro inches down as ECB’s Draghi adopts an increasingly cautious bias Risk appetite stays firm; NAHB housing index today may be crucial Pound rebounds even as May suffers major defeat; no-confidence vote called British lawmakers overwhelmingly voted against PM May’s Brexit deal yesterday, with 432 rejecting the accord and 202 voting in favor, a much wider margin of defeat than rumored. The loss was so devastating that it led the [..]

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European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:56 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]

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European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:58 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]

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European Open Preview – US inflation data in the spotlight

Posted on January 11, 2019 at 9:16 am GMT

Dollar briefly inches up after Powell; US CPI data today will be crucial Swiss franc drops, with SNB likely behind the move US-China trade optimism boosts aussie and kiwi Brexit uncertainty lingers ahead of next week’s Parliamentary vote Powell helps dollar to rebound briefly, but mind the upcoming inflation data Fed Chair Powell mostly “stuck to the script” yesterday, reiterating the recent shift in the Fed’s reaction function. He said his central bank can afford to be patient with further [..]

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European Open Preview – Dollar capitulates as Fed signals “patient” approach

Posted on January 10, 2019 at 9:12 am GMT

Dollar falls sharply after Fed signals it will be “patient”; a slew of key speakers will be in focus today Euro advances, and attention now turns to the ECB minutes at 1230 GMT BoC stands pat, keeping further gradual hikes on the table China stokes trade optimism, but US stock futures flashing red Dollar capitulates on Fed speak, extends losses after FOMC minutes The main mover in FX markets yesterday was the US dollar, which fell significantly and across the [..]

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European Open Preview – FOMC minutes and BoC rate decision in the spotlight

Posted on January 9, 2019 at 8:59 am GMT

In the US, minutes from the latest FOMC meeting will be scrutinized for clues on whether a pause in rate hikes is indeed in order In Canada, the BoC will meet and attention may fall on whether policymakers are growing more cautious Overnight, China releases its updated inflation data FOMC minutes eyed for rate guidance amid recession fears The dollar advanced nearly across the board on Tuesday without any major US-specific catalyst, instead capitalizing on weakness in the euro, which [..]

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European Open Preview – Trade optimism not very helpful; US-Sino trade talks conclude today

Posted on January 8, 2019 at 9:32 am GMT

Stocks gain little on trade news as more clarity needed Antipodeans weaken, dollar strengthens Trump addresses nation on Tuesday to discuss border EU and British officials said to be discussing Brexit delay  Trade hopes rise as US-Sino negotiations conclude Trade headlines will top market interest on Tuesday as Chinese and US officials conclude their two-day meeting in Beijing. This is the first face-to-face contact after Trump and Xi Jinping agreed at the G20 summit on December 1 to a ceasefire on new [..]

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European Open Preview – Dollar down, stocks up on Powell’s flexible policy; China boosts liquidity

Posted on January 7, 2019 at 9:28 am GMT

US Jobs report impress, Powell backs flexible policy China cuts reserve requirements amid slowing economic activity Loonie jumps to 3-week highs Nonfarm payrolls impress but Powell sounds cautious; China takes further monetary easing steps The US Jobs report beat expectations on Friday, brushing away fears of a cooling labour market and a slowing economy. Nonfarm payrolls jumped by 312k in December, while November’s print was revised upwards by 22k. Average hourly earnings also picked up speed to reach a new decade high of 3.2% [..]

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European Open Preview – Trade hopes remove some risk-off ahead of NFP report

Posted on January 4, 2019 at 9:24 am GMT

Japanese stocks close in the red on global growth fears in their first trading day of 2019 US Nonfarm payrolls and Powell’s remarks to affect bearish sentiment Euro and pound recover with caution Loonie hits two-week highs as oil prices surge Japanese stocks join harsh sell-off, yen down on trade news Japan’s stock market returned from the New Year’s holiday with a negative appetite as traders had to swallow the bitter global growth warnings which markets tasted in the previous days. With [..]

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