Daily Market Analysis


European Open Preview – Long Brexit extension looms; dollar retreats as Fed casts shadow

Posted on March 19, 2019 at 9:15 am GMT

Pound drops as Brexit angst deepens, but prospect of long extension offers ray of hope Growing Fed rate cut expectations support risky assets, weigh on dollar Crude oil continues to march higher UK House speaker vetoes third Brexit vote – long extension in scope UK politics made headlines yet again on Monday after the Speaker of the House of Commons, John Bercow, ruled out allowing the government to bring its Brexit deal to Parliament for a third time unless it [..]


European Open Preview – Dollar softens as Fed meeting looms; stocks climb

Posted on March 18, 2019 at 11:58 am GMT

US stocks rally to six-month highs but perhaps on option expiries – implying some cause for caution Dollar retreats in a quiet session; looks to Fed meeting on Wednesday Sterling catches its breath ahead of potentially decisive week US equities cruise to six-month highs on ‘quad witching’ In an otherwise quiet session, US stock markets rallied on Friday, with the benchmark S&P 500 (+0.50%) index breaking above a critical resistance zone around 2,820 that capped several rallies in recent months, [..]


European Open Preview – UK to seek Brexit delay but pound down as third meaningful vote looms

Posted on March 15, 2019 at 9:15 am GMT

Sterling retreats lower despite Parliament voting to extend Article 50 as investors eye EU summit and third meaningful vote next week Risk sentiment boosted by “substantive progress” in US-China trade talks but disappointment that there will be no March summit Gold back above $1300 after North Korea says may suspend denuclearisation talks with US Pound fails to resume rally after MPs vote to delay Brexit British lawmakers on Thursday voted to extend the Article 50 process as expected, which, together [..]


European Open Preview – Sterling soars after Parliament rejects no-deal Brexit; Trump trade comments weigh on sentiment

Posted on March 14, 2019 at 9:12 am GMT

Pound continues rollercoaster ride amid more Brexit twists and turns at Westminster; MPs look set to vote in favour of delaying Brexit Chinese industrial production falls to 17-year low, dampening market sentiment President Trump says he is “in no rush” to complete trade talks with China, raising doubts about a March deal Pound leaps to 9-month high as no-deal Brexit is voted down The British currency jumped to a 9-month peak of $1.3383 on Wednesday after the UK Parliament voted [..]


European Open Preview – Pound swings wildly on May’s Brexit defeat; more votes to come

Posted on March 13, 2019 at 9:01 am GMT

Pound edges up, recovering from earlier sharp losses, as UK Parliament expected to vote against no-deal Brexit May’s yet another historic defeat leads equities into risk-off mood; global growth concerns and Boeing slump also weigh Aussie slips on weak consumer confidence Sterling likely to remain volatile as British MPs to vote on no-deal and delaying Brexit After rallying sharply to a high of $1.3288 yesterday, the pound dramatically reversed lower, hitting a low of $1.3003 as it became apparent that [..]


European Open Preview – Pound extends rally on revised Brexit deal but Parliament backing unclear

Posted on March 12, 2019 at 8:54 am GMT

Pound extends yesterday’s surge as May secures ‘legally binding’ changes to Brexit deal All eyes now on British Parliament amid doubts whether EU’s legal assurances will be enough Equities rally and yen retreats as risk appetite improves and on hopes of more stimulus in China Sterling back above $1.32 on hopes May can win MPs backing with revised deal The British pound was the star performer for a second day on Tuesday as UK prime minister, Theresa May, managed to [..]


European Open Preview – Draghi torpedoes euro; US payrolls coming up

Posted on March 8, 2019 at 8:56 am GMT

US nonfarm payrolls report dominates the agenda today ECB pushes back rate hike timing, announces new loans; euro crumbles Stocks continue to retreat, yen advances as China’s trade data disappoint Nonfarm payrolls in the limelight The spotlight today will be on the US employment report for February. Forecasts are quite optimistic across the board. Nonfarm payrolls (NFP) are expected to have risen by 180k, less than January’s astonishing 304k but still a strong number overall. Meanwhile, the unemployment rate is anticipated [..]


European Open Preview – BoC throws in the towel, spotlight turns to ECB

Posted on March 7, 2019 at 8:57 am GMT

ECB meeting the main event today, focus will be on signals for loans to banks Loonie sinks to two-month lows as BoC abandons rate hike plans Elsewhere, stocks retreat without a clear catalyst – perhaps on profit taking Will the ECB join the chorus of dovish central banks today? All eyes will be on the highly-anticipated ECB policy decision today, and in particular on the updated economic forecasts and Draghi’s press conference at 13:30 GMT. The euro area economy continues [..]


European Open Preview – BoC decides as rate-hike bets evaporate; aussie drops

Posted on March 6, 2019 at 8:49 am GMT

Bank of Canada meets; markets seem to be expecting a major dovish pivot, which may not materialize US dollar rally revitalized by robust ISM index Aussie drops to two-month lows as RBA rate-cut expectations grow BoC decides as rate-hike bets evaporate The main event on Wednesday will be the Bank of Canada (BoC) rate decision. No action is expected, and since there is no press conference by Governor Poloz either, investors will scrutinize the accompanying statement for any policy hints. [..]


European Open Preview – Dollar rally in full throttle, but mind the speed bumps

Posted on March 5, 2019 at 8:58 am GMT

Dollar upswing continues unabated, but caution gradually warranted US stocks retreat after soft data, Chinese markets up on stimulus news RBA stays on hold, aussie yawns UK services and ISM non-manufacturing PMIs coming up today Dollar rally in full throttle, but speed bumps may lie ahead The US dollar registered another session of strong gains to kick off the week, gaining ground against all its major counterparts besides the defensive Japanese yen, which was the best performer as risk sentiment [..]

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