Daily Market Commentary

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Friday March 12th, 2021

Equity markets weaken, Oil prices dip while US$ yields retest highs helping the US$ to rebound from 1-week lows. The US$1.9T relief bill has been signed by the President, US yields rise to 1.6% and the US$ strengthens vs major currencies. In his first prime time address, US President Biden speech ye...
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Thursday March 11th, 2021

Equity markets are mixed, oil prices rise, US yields & US$ weaken ahead of President Biden speech and the US Initial Jobless Claims. President Biden will speak today marking 1-year since the WHO declared COVID-19 a pandemic and will announce the next phase of the US Covid response. The House pas...
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Wednesday March 10th, 2021

Oil prices & US yields are steady, equity & commodity prices are mixed & the US$ is higher as markets await US data & US Stimulus updates. The US House is expected to pass the US$1.9T covid relief bill as soon as this morning, with the aim that President Biden will sign it before the...
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Tuesday March 9th, 2021

Equity & oil prices rally, US yields stabilize & the US$ retraces as markets remain focused on the US stimulus bill. The OECD says that the US stimulus package will boost global recovery from Covid by 1% and raised its 2021 global GDP growth forecast to 5.6% from 4.2% previously. The OECD al...
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Monday March 8th, 2021

Equity & commodity markets are mixed while oil, US Treasury yields and US$ strengthen. The US$ rebounds to 3 ½ month highs as the US Stimulus plan progresses, US Treasury yields test higher, and confidence grows on vaccination optimism. The Senate passes an amended US$1.9T covid stimulus relief...
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Friday March 5th, 2021

Oil prices higher, equities are mixed, US Treasury yields hold and the US$ rallies ahead of the US NFP today. Fed Chair Powell’s expressed little concern about inflation and provided no indication of a policy change. The Chair said the recent rally in yields was “notable and caught my eye” but...
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Thursday March 4th, 2021

Equity, oil & commodity prices weaker, US yields stable and the US$ index strengthens. Markets prepare for a potentially volatile day with the Fed Chairs speech, OPEC+ meeting, US Stimulus updates and the US Initial Jobless claims data release. The main driver of the US$ strength has been the ri...
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Wednesday March 3rd, 2021

Equities and oil prices higher, US$ index flat, while US Treasury yields dip ahead of a flurry of US data releases & Fed speeches. Markets will monitor the three Fed speakers today ahead of the Fed Chair tomorrow after last week’s comments that said rising yields reflect economic optimism for ...
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Tuesday March 2nd, 2021

Equity markets mixed, oil prices dip, US$ and US yields higher as risk-off sentiment returns. The US$ index retests 1-month highs as markets focus on the Fed’s openness to higher US yields, while safe-haven buying increases on US stimulus, covid concerns and China’s “bubble” comment. Preside...
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Monday March 1st, 2021

Equity, commodity, oil, US$ index & US yields are all higher as markets await US ISM Manufacturing PMI data and US Stimulus updates. The US of Representatives passed the US$1.9T covid relief package on the weekend. The stimulus package now moves to the Senate where Dems have a narrow margin and ...
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