Daily Market Commentary

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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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Friday November 1st, 2019

It has been a busy week for investors with the Fed easing, the extension to Brexit and comments regarding the Chinese doubts about the trade deal. The US$ weakened to a seven week low vs NZD, a three week low vs Yen and has seen GBP rally 1%. The US Non-Farm Payroll & US PMI […]...
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Thursday October 31st, 2019

The FED cut rates by a 1/4% as expected, commenting that it will hold rates unless the economy takes a turn for the worse. The US$ weakened vs the majority of major currencies on the Fed news, with CNY rallying to an almost 3 month high. Sino/US trade concerns appear to be growing as its […]...
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Wednesday October 30th, 2019

The USD is steady against other major currencies this morning. Today we have GDP this morning followed by the FOMC meetings later this afternoon. It expected the Fed will cut rates by 25 points, the third in 2019.  If we see a slowdown in U.S. GDP growth and a sluggish Non Farm Payroll on Monday [&...
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Tuesday October 29th, 2019

Risk-oriented currencies strengthened on Tuesday as hopes for an easing in Sino-U.S. trade tensions buoyed sentiment. U.S. President Donald Trump said a trade agreement looked to be ahead of schedule on Monday, without detailing the timing. Washington also said it was studying whether to extend tari...
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Monday October 28th, 2019

The USD slipped on Monday off one week highs against a basket of currencies as hopes of a Sino-American trade deal encouraged a move away from safe haven assets and focus grew on slowing U.S. economic momentum. Focus this week will be the U.S. Federal Reserve meeting on Wednesday where it is expecte...
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Friday October 25th, 2019

The currency markets, with the exception of GBP, continue to trade within a relatively narrow trading band. The EU approved the UK’s request for an extension to the Brexit deadline. European central bank kept rates on hold and now the focus will switch to the FED meeting next week. The Sino/US...
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Thursday October 24th, 2019

The currency markets remain stable as investors wait for Brexit and Sino/US trade agreement next steps. The weak German PMI data appeared to be ignored as the markets focused on interest rate decisions in Europe. A trio of central banks announce rate decisions today, with Sweden raising rates and No...
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Wednesday October 23rd, 2019

Uncertainty for Brexit again as the UK seeks an extension to the its Oct 31st deadline from the EU. Brexit confusion and the possibility of a UK election saw investors buying safe-haven currencies. GBP and commodity currencies gave up some ground, but optimism for Sino/US trade is helping to calm ov...
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Tuesday October 22nd, 2019

Trade news has dominated currency market trading again today, after US President expressed optimism about clinching a deal with China. The Brexit vote goes back to parliament today and voting is expected at 6pm GMT. Commodity currencies remain strong, but Euro weakened slightly ahead of the Brexit v...
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