Daily Market Commentary

Latest News

Wednesday January 29th, 2020

The coronavirus continues to dominate the markets focus as the number of confirmed cases rises to near 6,000 and 130+ have died of the virus. The virus has spread to 15 countries prompting airlines to reduce flights to China and BA cancelling all flights. Currency markets have started to somewhat st...
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Tuesday January 28th, 2020

The World Health Organization called the coronavirus outbreak “an emergency in China” as the death toll in China rises to 106. Japan’s economy minister in a news conference said “there are concerns over the impact to the global economy from the spread of infection in China&#8...
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Monday January 27th, 2020

Chinese CNY and commodity currencies remain under selling pressure as the coronavirus cases spreads to ten countries. Fears of the spread of the China virus grows as infected cases rise to over 2,800 people, with more than 80 reported deaths. Safe have JPY has rallied over 1% since the outbreak and ...
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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...
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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...
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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...
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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 ...
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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...
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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...
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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...
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