Daily Market Commentary

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Tuesday October 29th, 2019

Risk-oriented currencies strengthened on Tuesday as hopes for an easing in Sino-U.S. trade tensions buoyed sentiment. U.S. President Donald Trump said a trade agreement looked to be ahead of schedule on Monday, without detailing the timing. Washington also said it was studying whether to extend tari...
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Monday October 28th, 2019

The USD slipped on Monday off one week highs against a basket of currencies as hopes of a Sino-American trade deal encouraged a move away from safe haven assets and focus grew on slowing U.S. economic momentum. Focus this week will be the U.S. Federal Reserve meeting on Wednesday where it is expecte...
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Friday October 25th, 2019

The currency markets, with the exception of GBP, continue to trade within a relatively narrow trading band. The EU approved the UK’s request for an extension to the Brexit deadline. European central bank kept rates on hold and now the focus will switch to the FED meeting next week. The Sino/US...
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Thursday October 24th, 2019

The currency markets remain stable as investors wait for Brexit and Sino/US trade agreement next steps. The weak German PMI data appeared to be ignored as the markets focused on interest rate decisions in Europe. A trio of central banks announce rate decisions today, with Sweden raising rates and No...
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Wednesday October 23rd, 2019

Uncertainty for Brexit again as the UK seeks an extension to the its Oct 31st deadline from the EU. Brexit confusion and the possibility of a UK election saw investors buying safe-haven currencies. GBP and commodity currencies gave up some ground, but optimism for Sino/US trade is helping to calm ov...
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Tuesday October 22nd, 2019

Trade news has dominated currency market trading again today, after US President expressed optimism about clinching a deal with China. The Brexit vote goes back to parliament today and voting is expected at 6pm GMT. Commodity currencies remain strong, but Euro weakened slightly ahead of the Brexit v...
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Monday October 21st, 2019

The positive sentiment for Brexit and trade talks has seen investors continue to unwind safe-haven currencies. The US$ remains under-pressure vs Euro & the commodity currencies, all of which are testing multi-month highs. Trade talk progress could be impacted on news China is seeking $2.4 billi...
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Friday October 18th, 2019

China’s 3rd quarter growth slowed to its worst level in nearly 30 years as the effects of the US tariffs impacted production. Sino/US have reached a first phase agreement suspending further tariff hikes, but the data is evident that further talks are required.  Investor focus is shifting to t...
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Thursday October 17th, 2019

A Brexit deal has been agreed in principle and now it needs to be approved by the 27 EU member states and the UK parliament. Optimism returned to the markets on the Brexit news and comments from China saying it hoped to reach phased trade agreement with the US as early as possible. Commodity currenc...
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Wednesday October 16th, 2019

The US$ fell to a one month low verses the major currencies after China criticized the US legislation for its pro-democracy support in Hong Kong. The currency markets responded with the selling of commodity currencies and purchasing safe-haven currencies. IMF commented yesterday that the US/Sino tra...
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