Daily Market Commentary

Latest News

Thursday October 17th, 2019

A Brexit deal has been agreed in principle and now it needs to be approved by the 27 EU member states and the UK parliament. Optimism returned to the markets on the Brexit news and comments from China saying it hoped to reach phased trade agreement with the US as early as possible. Commodity currenc...
Read More

Wednesday October 16th, 2019

The US$ fell to a one month low verses the major currencies after China criticized the US legislation for its pro-democracy support in Hong Kong. The currency markets responded with the selling of commodity currencies and purchasing safe-haven currencies. IMF commented yesterday that the US/Sino tra...
Read More

Monday October 15, 2019

North American markets return from a long weekend attempting to digest the results of a partial US/Sino trade deal and positive Brexit talks. GBP rallied to a 5 month high vs Eur buoyed by positive Brexit news. Oil prices fell over 2% and commodity currencies stalled vs US$, with investors skeptical...
Read More

Friday October 11th, 2019

The US President commented on the Sino/US trade negotiations saying that progress was « very very good ». Commodity currencies & CNY responded positively on the news and safe-haven currencies started to sell off.  The Michigan Consumer Sentiment report and trade talks announcements will be ...
Read More

Thursday October 10th, 2019

The US/Sino trade talks resume in Washington today and will dominate the markets focus. Despite mixed signals from both sides, markets appear optimistic about the trade talks. Anticipated trade talk topics include a possible currency pact for CNY, increased agricultural purchases and existing suctio...
Read More

Wednesday October 9th, 2019

« The world economy is now in a synchronized slowdown » said the new MD of the International Monetary Fund (IMF). Concerns about the upcoming Sino/US Trade talk weighed on the markets yesterday as the US initiated visa limitations on Chinese officials and blacklisted of 28 Chinese firms. Sentime...
Read More

Tuesday October 8th, 2019

The US$ weakened vs most currencies as investor selling grew following weak US data last week and fading trade talk expectations. Last weeks weak US data has increased concern that the US economy is slowing down, which increases the potential that the fed could ease rates further. The Sino/US trade ...
Read More

Monday October 7th, 2019

US$ starts the week opening close to its one-month trading lows, as focus remains on this week’s trade talks and the ongoing impeachment enquiry. Sino/US trade talks resume October 10th/11th, but optimism dropped somewhat after reports that China intends to limit the scope of a trade deal. Im...
Read More

Friday October 4th, 2019

US$ weakness continued, the US$ index falling almost 1% for the week, as investors switched to Yen and Euro. Concerns that the weak manufacturing and services data this week were showing sign that the U.S. economy is losing momentum and instigated the US$ selloff. U.S. Non-Farm Payroll data today. A...
Read More

Thursday October 3rd, 2019

Washington moved to impose new tariffs of $7.5bln on European goods as punishment for illegal EU subsidies to Airbus. US$ eased to one week lows vs Eur & Yen after yesterdays disappointing US ADP Non-Far payroll number. Signs that the U.S economy could be slowing has increased investor concerns ...
Read More