Daily Market Commentary

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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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Wednesday January 15th, 2020

Currency markets stalled within tight ranges as they await the signing of the Phase One trade agreement. China is committed to buy at least $200 bin in US exports over two years including Manufactured goods ($80bln), Energy ($53bln), Agriculture ($32bln) and Services ($35bln). Signing of the agreeme...
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Tuesday January 14th, 2020

Sino/US trade optimism continues as China pledges to purchase almost $80 billion of additional manufactured goods and the US drops the FX Manipulator label. December Chinese trade data showed that exports and imports both jumped, helping the CNY hit fresh 6 month highs. The CHF is at an almost 3 yea...
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Monday January 13th, 2020

The easing of ME tensions has seen investor focus shift back to Wednesdays signing of the Sino/US trade agreement. The Chinese CNY hit an almost 6 month high, but other trade-exposed currencies remain muted. Expect trade-exposed currencies to rebound vs US$ ahead of Wednesday’s trade agreement...
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Friday January 10th, 2020

Markets are closing the week on a calmer note as tensions between US & Iran are easing. Focus remains on the cause of crash the Ukrainian jet leaving the potential of further ME tensions. Safe-haven currencies & commodities remain under pressure allowing the US$ to have its best weekly gain...
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Thursday January 9th, 2020

The US’s response to the Iranian attack with increasing of sanctions verses a military a response returned some calm to investors. The perceived easing of ME tensions saw safe-haven currencies and commodities come under selling pressure.  Focus is shifting back to economic growth and the sign...
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Wednesday January 8th, 2020

The firing of Iranian missiles at US forces in Iraq immediately escalated tensions in the ME, rallying gold oil & safe-haven currencies. There has been no immediate military response from the US and the President said he would be making statement this morning. The lack of US response gave the ma...
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