Daily Market Commentary

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Friday November 15th, 2019

Currency markets responded positively to the WH economic advisor Larry Kudlow’s comment say a trade deal is “getting closer”. Safe-haven currencies sold off on the comment and trade-exposed currencies strengthened modestly vs US$. The Fed Chair and his colleges sent a clear message yesterd...
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Thursday November 14th, 2019

Weak Chinese data, Hong Kong tensions and the unresolved Sino/US trade deal saw investors turn back to safe-haven buying. Yen & Chf both rallied, with Aud and CNY coming back under selling pressure. German data showed that the country narrowly avoided recession which was a minor positive for EUR...
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Wednesday November 13th, 2019

The outcome for the US/Sino trade deal remains uncertain after the US President said that a trade deal was close, but at the same time threatened more tariffs if the trade deal fails. Markets responded cautiously with US$ gaining slightly vs the major currencies. The NZ Central bank kept rates on ho...
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Tuesday November 12th, 2019

The US President is scheduled to speak at the Economic Club of New York today, with markets hoping to hear the status of the phase one trade agreement with China. The US$ continues to the strengthen against all major currencies,  rising 0.1% on the US$ index.  Hong Kong protests continues, with Ch...
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Monday November 11, 2019

The escalation in protests in Hong Kong caused investor’s concern resulting in “safe-haven” buying, with JPY strengthening and Chines Yuan selling off. Markets remain optimistic that the phase one trade agreement can be signed, but US Presidents comments Friday raised some concerns...
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Friday November 8th, 2019

The trade negotiations continue to dominate market sentiments, but conflicting trade-related headlines raised some skepticism about on trade deal negotiations. The markets are waiting for the US to confirm their agreement to the rolling back of tariffs, which appears to be the last hurdle to signing...
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Thursday November 7th, 2019

Sino/US trade optimism continues to grow after comments from China that some existing tariffs for both sides must be simultaneously cancelled to reach a “phase one” trade deal. The US$ rallied to a 3-month high on the news vs safe-haven currencies. Oil prices rallied on the trade news, whereas J...
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Wednesday November 6th, 2019

The US$ firmed against the major currencies boosted by stronger US data, trade optimism and higher yields. Positive trade tones continue, but China’s push for tariff rollbacks could possibly cause delays in the signing of the phase 1 trade agreement. US data out this morning and to separate sp...
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Tuesday November 5th, 2019

Currency markets strengthened on optimism that China & US will finalize phase 1 of the Sino/US trade deal this month. The Chinese Yuan rallied on the expectation the trade will be signed, with CNY breaching the 7.0 level verses the US$. Commodity currencies were also boosted by the trade optimi...
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Monday November 4th, 2019

Positive comments from US Commerce Secretary Wilbur Ross that he hopes phase one of the Sino/US trade deal will be signed this month. He also commented that the US may not need to impose tariffs on imported vehicles from the EU, Japan & Korea. The Chinese Yuan rallied to a 12 week high vs US$ [&...
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