Daily Market Commentary

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Thursday November 7th, 2019

Sino/US trade optimism continues to grow after comments from China that some existing tariffs for both sides must be simultaneously cancelled to reach a “phase one” trade deal. The US$ rallied to a 3-month high on the news vs safe-haven currencies. Oil prices rallied on the trade news, whereas J...
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Wednesday November 6th, 2019

The US$ firmed against the major currencies boosted by stronger US data, trade optimism and higher yields. Positive trade tones continue, but China’s push for tariff rollbacks could possibly cause delays in the signing of the phase 1 trade agreement. US data out this morning and to separate sp...
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Tuesday November 5th, 2019

Currency markets strengthened on optimism that China & US will finalize phase 1 of the Sino/US trade deal this month. The Chinese Yuan rallied on the expectation the trade will be signed, with CNY breaching the 7.0 level verses the US$. Commodity currencies were also boosted by the trade optimi...
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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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