Daily Market Commentary

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Wednesday August 18th, 2021

The US$ is flat, oil prices rally, equity markets are mixed while US yields firm ahead of the Fed minutes. Fed Chair Powell refrained from any significant comments on tapering in his speech on Tuesday, setting the stage for the Fed minutes today. Public comments from bank officials suggest the Fed m...
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Tuesday August 17th, 2021

The US$ edges higher, oil prices slip, equity markets & US yields weaken ahead of US retail sales & Fed Chairs Powell’s speech. The US retail sales is expected to dip -0.2% in July amid covid concerns impacting travel related spending, auto sales and a pullback in online spending. In the a...
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Monday August 16th, 2021

The US$ firms, oil prices weaken, equity markets & US yields are down as market mood sours. Safe-haven US$ gains ground after today’s weaker than expected Chinse Retail Sales, Fridays weak US consumer confidence data (at 70.2 vs expectations 81.2) and the ongoing spread of the Delta variant gl...
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Friday August 13th, 2021

The US$ eases, oil prices dip, equity markets and US yields are mixed ahead of US Michigan Consumer Sentiment index (MCSI). The US$ index is on track for a 2nd-consecutive weekly gain on expectations the Fed could announce plans to taper at its September meeting. Thursday the US PPI posted their lar...
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Thursday August 12th, 2021

The US$ is flat, oil prices slip, equity markets are mixed and US yields dip ahead of US Jobs & PPI data. Markets focus on today’s US Initial Jobless claims which are expected to fall to 375k vs 385k and Y/Y PPI which is expected to be unchanged at 7.3%. Wednesday’s softer US CPI data [&...
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Wednesday August 11th, 2021

The US$ edges higher, oil prices weaken, equity markets are mixed while US yields firm ahead of the US inflation reports. The US CPI y/y is expected to ease slightly to 5.3% vs 5.4% but continues to support the pressure for Fed tapering. The US$ extends its gains testing a fresh 5-month high on Tues...
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Tuesday August 10th, 2021

The US$ & oil prices edge higher, equity markets strengthen while US yields are mixed amid hawkish Fed-speak. The US$ remains buoyed strong US jobs data, and comments from Fed regional presidents favouring tapering in coming months is keeping the US$ near 4-month highs. Monday’s US JOLTS job o...
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Monday August 9th, 2021

The US$ is flat, oil prices down 4%, while equity markets & US yields are mixed amid risk-off sentiment on China virus curbs & climate warning. A UN panel delivers a stark warning on climate change, saying its code red for humanity. The US$ index vs a basket of major currencies holds steady ...
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Friday August 6th, 2021

The US$ strengthens, oil prices rebound, while equity markets and US yields are mixed ahead of the US jobs data today. The Nonfarm Payroll for July is expected at 870k which would be a robust number and an increase from June’s 850k. The jobs number will be a key driver to markets with analysts’ ...
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Thursday August 5th, 2021

The US$ & oil prices are steady, while equity markets and US yields are mixed ahead of the US initial jobless claims. Markets are cautious entering into a 2nd day of 3 days of US jobs data with today’s Initial Jobless claims expected at 380k, setting the stage for Friday’s key NFP and f...
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