Daily Market Commentary

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Monday June 10th, 2019

US$ firmed as investors had a positive response to Mexico averting tariffs today. In addition the prospect of a friendly meeting between the US & China leaders at the upcoming G20 added to the positivity. Safe-haven Yen sellers emerged from risk-off trading.  Euro stalled on comments from the E...
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Friday June 7th, 2019

The prospect of the FED cutting interest rates, on going trade tensions has caused the US$ to sell off in recent days hitting a 2 month lows. Jobs data in the US and Canada, but any impact from positive data will be short lived. The markets are waiting to see any positive comments from US/China [&he...
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Thursday June 6th, 2019

ECB kept rates on hold and cut grow forecasts for the next two years, highlighting the slowdown will be longer than expected. US threatens further tariffs on China, but meetings between US/China are still scheduled to go ahead at this weekends G20 meeting in Japan. US$ index fell to a 2 month low an...
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Wednesday 5th June, 2019

Comments from the Fed Chairman saying it was changing its approach to rates from “patient” to “as appropriate” saw US$ sell off to a 7 week low. Recession concerns globally have seen Central Banks in recent weeks cut rates and possibly signaling the start of global monetary e...
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Tuesday June 4th, 2019

Increasing prospect of an interest rate cut by the FED saw investors selling off US$, which fell to a 3 week low. Growth concerns also saw further selloff in oil, which dropped to Jan19 levels. Yen rallied to 5 month highs becoming the safe-haven currency of choice. US$ fell to a two week low vs [&h...
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Monday June 3rd, 2019

Trade tensions continue to grow beyond China to Mexico and India, which saw safe haven currencies continue their rally. Yen & Chf both hit 2 year highs vs Eur on Friday. US 2 year treasury yield saw its biggest 2 day fall since 2008, causing some unwinding of long US$ positions in Asia this morn...
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Friday May 31st, 2019

US threat to place tariffs on Mexico saw US$ and Yen rally on safe-haven buying. Recession risk is growing, the probably of a FED rate cut 2020 is increasing. US/China trade concerns, Brexit, EU political uncertainty and EU in the process of renegotiating trade with US. A lot of variables out there ...
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Thursday May 30th, 2019

The trade rhetoric continues with a senior Chinese diplomate saying the trade dispute was “naked economic terrorism”. The US$ index is close to a 2 year high and with no solution in sight, investors continue to focus on safe-have currencies. US$ sold off slightly as oil bounced modestly ...
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Wednesday May 29th, 2019

US$ index rose to a 4 month high as trade tensions continue and the political concerns within the EU mount.  The Chinese Peoples Daily newspaper article suggesting possible trade retaliation made investors nervous. In Europe the EU commission potential response to Italy and upcoming elections saw E...
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Tuesday May 28th, 2019

US$ safe haven buying continues with lingering trade tensions and political concerns in the EU and UK remain. The European session was dominated by the Italy’s budget and the prospect of EU commission fines. In the UK, a no-deal Brexit appearing possible as the search for a successor to PM May...
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