Daily Market Commentary

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Wednesday September 18th, 2019

Currency markets remain relatively stable ahead of the FOMC rate decision today. The Fed is expected to cut rate by 0.25% and the Fed chairs comments will be watched closely. Oil prices eased after the Saudi oil ministers comments that supply demands will be met. Geopolitical risk remains high with ...
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Tuesday September 17th, 2019

US dollar firms vs major currencies as investors remain cautious over rising Middle East tensions and the FOMC rate decision tomorrow. US/China will restart trade talks at the end of this week, whilst US/Japan announced they have worked out an initial trade accord. FOMC and Middle East risk will dom...
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Monday September 16th, 2019

Oil prices jumped 19%, its largest price surge since 1991 after an attack in Saudi Arabia effectively shut down 5% of global crude output. The attack on the crude facility in Saudi Arabia saw an initial strengthening of oil based currencies like Cad and NOK, as well as safe-haven Yen, Chf & Usd....
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Friday September 13th 2019

Signs of easing Sino/US tensions continue as China exempts some US agricultural products from additional tariff’s and US President suggesting an interim pact is possible. Lower  level US/Sino officials are expected to meet next week in Washington to set the agenda for senior level talks in ...
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Thursday September 12th, 2019

Another positive sign of progress in the Sino/US trade dispute as US planned tariff Increases are delayed in ‘Gesture of Goodwill’ to China. Safe-have Yen weakened, Cny strengthened to 3 week high and Aud hit a 6 week high. ECB lowers its deposit rate, keeps interest unchanged and restarted QE p...
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Wednesday September 11th, 2019

China’s announcement of tariff exemptions on 16 types of US products has been viewed as a positive sign of easing trade tensions. China’s Global Times comments that China would introduce “Important Measures” targeted to ease the impact on the economy from the trade dispute. G...
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Tuesday September 10th, 2019

Positive comments by US Treasury Secretary “made a lot of progress” in trade talks suggesting a trade deal is possible. Chinese vice-ministers are expected to travel to Washington mid-September. Growing trade optimism saw investors return to “risk-on” trades with CNY rallying...
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Monday September 9th, 2019

US$ remains generally weaker vs major currencies after Fridays jobs data and expectations that the Fed will cut rates at its next meeting. Fed Chair on Friday cited “risks in particular U.S.-China trade tensions that may derail the current U.S. economic expansion”. Market optimism for US...
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Friday September 6th, 2019

Investors appear to be ending the week on a positive note as optimism grows for Sino/US trade resolution, positive US data and reduced risk on “No-Deal Brexit in the UK. US$ index remains relatively stable, safe haven currencies continue sell off and China CNY rebounded. US Nonfarm payroll and...
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Thursday September 5th, 2019

Trade talks were front and centre today. “Lead negotiators from both sides had a really good phone call this morning,” ministry spokesman Gao Feng said in a weekly briefing. “We’ll strive to achieve substantial progress during the 13th Sino-U.S. high-level negotiations in ear...
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