Daily Market Commentary

Latest News

Friday January 24th, 2020

Investor concerns for the coronavirus eased after China’s repaid response and WHO refraining from declaring a global emergency. Chinese CNY remains and AUD in particular remain under pressure, as the China virus continues to dominate headlines. With number of cases of coronavirus growing expec...
Read More

Thursday January 23rd, 2020

The Chinese coronavirus remains a primary focus for investors, with 600 people now infected and the city of Wuhan being locked down. Concerns that the virus could impact Chinese domestic growth has seen the CNY fall 1% since Monday. Investors continue to switch into Yen and other safe-haven currenci...
Read More

Wednesday January 22nd, 2020

Increased concerns over the outbreak of the new Coronavirus in China caused a shift-back towards safe-haven/risk adverse currencies. Yen and US$ both firmed against the major currencies as the number of confirmed coronavirus cases rise to 440. Intraday markets will focus on any fresh comments from D...
Read More

Tuesday January 21st, 2020

Chinese CNY weakened almost 1% vs US$ on growing travel/tourism concerns linked to the spread of the pneumonia-like virus in China. Growing concerns over the virus caused AUD & NZD to weaken alongside the CNY and caused JPY to rally. The US$ is steady vs the major currencies, remaining near its ...
Read More

Monday January 20th, 2020

After last weeks strong US economic data releases and signing of the phase one trade agreement, the US$ continues to strengthen. US$ hit a fresh one month highs vs the major currencies and Chinese CNY extended to a 6 month high. Expect markets to be relatively range bound today as the US markets are...
Read More

Friday January 17th, 2020

China’s economy grew at 6.1% in 2019, its slowest expansion in 29 years. Positive December Chinese industrial output also released jumped 6.9% annually providing positive encouragement for 2020. Chinese CNY vs US$ hit a fresh 6 month high on the Industrial output data. Safe-haven currencies r...
Read More

Thursday January 16th, 2020

The markets have had a muted response to the signing of the phase one trade agreement yesterday. The phase one agreement is the first marker to the ending of the Sino/US trade war. A significant number of US tariffs remain in place and soon the markets will be focusing on the phase two agreement. Tr...
Read More

Wednesday January 15th, 2020

Currency markets stalled within tight ranges as they await the signing of the Phase One trade agreement. China is committed to buy at least $200 bin in US exports over two years including Manufactured goods ($80bln), Energy ($53bln), Agriculture ($32bln) and Services ($35bln). Signing of the agreeme...
Read More

Tuesday January 14th, 2020

Sino/US trade optimism continues as China pledges to purchase almost $80 billion of additional manufactured goods and the US drops the FX Manipulator label. December Chinese trade data showed that exports and imports both jumped, helping the CNY hit fresh 6 month highs. The CHF is at an almost 3 yea...
Read More

Monday January 13th, 2020

The easing of ME tensions has seen investor focus shift back to Wednesdays signing of the Sino/US trade agreement. The Chinese CNY hit an almost 6 month high, but other trade-exposed currencies remain muted. Expect trade-exposed currencies to rebound vs US$ ahead of Wednesday’s trade agreement...
Read More