Daily Market Commentary

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Friday February 26th, 2021

Equities, commodities & oil prices weaken, US yields remain near highs strengthening the US$ as risk-off sentiment returns. President Bidens stimulus bill runs into a snag as the minimum wage hike ruled out of order. An amended US$1.9T stimulus plan is expected to be approved today and should re...
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Thursday February 25th, 2021

Equities are mixed today, oil strengthens, US yields higher and the US$ weakens after the US Fed’s comments boosted risk-on sentiment. Fed Chair Powell on Wednesday reiterated his comments that inflation and employment remain below the central bank’s targets. The Fed will carry on with its bond ...
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Wednesday February 24th, 2021

Equities, oil, commodities and US yields track higher, while the US$ holds flat ahead of the Fed Chairs second day of testimony. US Inflation expectations continue to rise which continues push US yields higher. Fed Chair Powell plays down inflation concerns, reiterated that US interest rates will re...
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Tuesday February 23rd, 2021

Equities remain under pressure, oil prices strengthen, US yields slip and the US$ bounces ahead of the Fed Chairs testimony. Fed Chair Powell testimony today will be watched closely for his views on higher US yields and rising US inflation. Markets are worried if the Fed reduces liquidity and tighte...
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Monday February 22nd, 2021

Equity markets dip, commodity, oil and US yields strengthen, while the US$ index weakens vs a basket of major currencies. Fed Chair Powell is set to testify before congress on Tuesday which is critical for US yields. Markets are focusing on inflation as economic growth expectations are rising with t...
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Friday February 19th, 2021

The US$ and oil prices are lower, US yield are up, while global equity markets are mixed as investors await US PMI data. The US$ came under selling pressure after Thursday’s US jobless claims increased to 861k, its highest level in 4-weeks and suggests the US recovery has stumbled. Focus remains o...
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Thursday February 18th, 2021

The US$, equities and yields dip, while oil prices remain firm ahead of US jobs data today. Investors are focusing on US jobless claims which are expected to improve to 765k vs 793k previous. The FOMC minutes highlighted that the US economy “far from” the central bank goals, with the summary say...
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Wednesday February 17th, 2021

The US$ rebounds from 3-week lows with higher yields and the prospect of rising US inflation. Democrats are reportedly planning to pass the US$1.9T stimulus relief plan by Feb 26th.  Boosting the US$ recovery prospects has been the US vaccination program which is now averaging 1.6mio inoculations ...
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Tuesday February 16th, 2021

Equity markets strengthen, US Treasury yields rise, oil prices hold at 13-month highs while the US$ index weakens. Despite 30-year US Treasury yields +2%, investors are exiting US$’s safe-haven and are embracing a rising risk-on sentiment. Markets are optimistic that US1.9T stimulus plan will pick...
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Friday February 12th, 2021

The US$ bounces off the weekly lows, shrugging off disappointing jobs data by focusing on positive vaccine news and US stimulus updates. The White House announced yesterday that it secured 200 million more Covid-vaccine doses, bringing the US total to 600 million. The House Dems complete their impea...
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