Daily Market Commentary

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Friday May 17th, 2019

Safe haven currencies gain ground as concerns continue for a US/China trade resolution and caution ahead of the European elections. US$ rallied against C$ despite firmer oil prices and good Canadian data. Ongoing oil supply concerns should keep prices oil firm in the short term and expect no break o...
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Thursday May 16th, 2019

Mixed news overnight saw US$ weaker vs Eur & C$, but the GBP sell off continues. C$ rallied on a combination of firmer oil prices, optimism over metal tariffs and positive inflation data. We are currently sitting in the middle of recent ranges, bit a bias of further US$ weakness. A retest of Apr...
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Wednesday 15th May, 2019

US$ opens firmer against the major currencies as concerns linger over the US/China trade dispute. Mixed data overnight, Chinese data showed their economy slowing last month, where as German GDP was positive. US$ firmed against C$ as oil prices eased and with the ongoing US/China trade concerns. US$ ...
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Tuesday 14th May, 2019

Mixed markets as US & China both raise tariffs, but both agreed to keep the dialogue going. President Trumps text commenting that trade talks could succeed, was received positively. US$ remains firm against C$ which is holding at the higher end of recent ranges. Concerns over oil supplies from S...
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Monday 13th May, 2019

Equities and CNY weakened overnight in Asia after US/China failed to secure a trade deal on Friday. The US$ against the major currencies remains stable, virtually unchanged from last weeks range. Going forward the impact of the failed trade talks could see Aud & Cad weaken and Yen and Chf firmer...
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Friday May 10th, 2019

US raised tariffs on Chinese goods from 10% to 25%, but markets remained calm as investors anticipate that China & US could still salvage a trade deal. US$ weakened from a 2 week high vs C$ on positive Canadian trade data yesterday. Cad jobs data today, a good number could see further US$ weakne...
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Thursday 9th May, 2019

US-China trade talks remain the primary focus of markets today. US$ weakened to a 3 month low vs Yen on Safe haven Yen buying, but US$ rallied against Aud which has close links to China is at a 4 month low. C$ remains stable, slightly higher oil prices has helped keep the currency within its [&helli...
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Wednesday 8th May, 2019

Mixed markets overnight as the US/China trade talks remain the primary focus for investors. US$ weakened against the Yen on safe haven buying. Euro remained within a tight range, opening at the same level as yesterday. US$ rallied against GBP, due to little sign of a breakthrough on Brexit talks and...
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Tuesday 7th May, 2019

Chinese negotiator’s will participate in trade negotiations this week in Washington, easing some market jitters. US$ eased slightly off its highs verses Cad, any signs of positive trade talks should strengthen Oil and in turn C$. Euro has remained stable and range bound, bias a retest of recen...
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Monday May 6th, 2019

Concern over US-China trade talks saw both Crude Oil and Equity markets trade lower in Asia. In the FX markets both GBP & Euro are opening relatively unchanged from Friday vs the US$. The US$ has firmed against C$, but remains below the highs of April’s. Oil prices lower could add some add...
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