Market Comment

Daily Market Comment – Stocks advance, gold retreats as banking fears subside

Calmer tones return to global markets after weekend banking deal Stock markets edge higher, gold loses some of its safe-haven appeal Major currencies trade in narrow ranges, except for the Japanese yen Markets in better mood A sense of calm has returned to global markets after a double-barreled dose of good news on the US economy and financial sector.
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Daily Market Comment – Yen shines, dollar stalls as traders bet Fed is bluffing

Speculation for Fed rate cuts intensifies, keeping dollar in slow gear Yen advances as yields edge lower, stock markets resume selloff  European PMIs exceed forecasts, but euro gets smoked by bank risks Markets to Fed: We don’t believe you  It has been a hectic week for global markets, with the underlying theme being a disbelief that the Federal Reserve will execute on its interest rate plans.
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Daily Market Comment – Dollar slides as Fed hints at pause; BoE up next

Fed hikes by 25bps, opens the door to a pause Dollar slides across the board Wall Street falls on Powell and Yellen remarks SNB delivers double hike, BoE to proceed with 25bps Dollar tumbles as Fed hints hikes are nearing end The dollar traded lower yesterday and continued falling today as, despite delivering another 25bps hike, the Fed hinted that it is on the verge of pausing due to the recent turbulence in the banking sector.
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Daily Market Comment – Fed set to raise rates, but will Powell signal a pause?

With banking nerves calming down, Fed is set to raise interest rates today Market reaction will depend mostly on rate projections and Powell’s tone Sterling advances after hot inflation numbers telegraph BoE rate hike  Critical Fed decision ahead One of the most important Fed decisions in recent history lies ahead.
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Daily Market Comment – Gold loses steam, stocks recover as banking storm eases

Nerves around banking sector recede for now, as traders bet on Fed cuts Gold loses some of its safe-haven appeal, stock markets bounce back Dollar remains under pressure, unable to capitalize on market turbulence Fed bets help calm nerves It’s been a wild month for global markets, with regulators turning into firefighters to extinguish the stress in the banking system and prevent it from burning the real economy.
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Daily Market Comment – Banking turmoil keeps sentiment fragile; investors want the Fed to pivot

Banking fears persist despite contingency plans Yen gains as equities and bond yields slide Fed is seen pausing and initiating rate cuts Gold skyrockets above $2,000, oil falls to 15-month low Flight to safety continues on banking contagion fears The US dollar underperformed against all the other major currencies on Friday, with the safe-haven yen taking the most advantage of its weakness.
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Daily Market Comment – ECB hikes amid turmoil but opens door to pause, lifting markets

ECB delivers what it promised but abandons forward guidance, euro climbs US banks pour $30 billion into troubled First Republic in rescue deal Stocks rise in relief rally, yields make unconvincing rebound, dollar slips But some caution today as triple witching looms Banking crisis fears ease after another rescue Equity markets globally were headed for painful losses for the week even as they scrambled to stage a relief rally on Friday.
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Daily Market Comment – Dollar gains as panic returns, ECB meets amidst banking crisis

The dollar and the yen Wednesday’s main gainers Franc and euro lose the most ground on Credit Suisse fallout ECB decides on interest rates, with investors split on hike size Wall Street pares loses, but concerns remain Investors seek safety as Credit Suisse sparks more fears The dollar strengthened against all but one of the other major currencies on Wednesday.
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Daily Market Comment – Markets rebound, then falter as fears grow over Credit Suisse

SVB contagion fears continue to recede, spurring a global rebound in stock markets But the mood sours again as Credit Suisse shares sink, euro skids Treasury yields make a partial recovery, Fed rate hike path steepens only slightly US CPI not much help to wounded dollar as focus turns to ECB decision Risk appetite on the mend but new risks arise Investor jitters following the biggest US bank failures since the 2008 financial crisis abated further on Tuesday as a sense of normality returned to the markets after days of turmoil.

Daily Market Comment – Bank stocks pummelled but some calm restored ahead of US CPI

Financial stocks remain pressured but broader selloff eases as panic subsides US inflation in the spotlight after sharp repricing of Fed rate hikes Gold and cryptos softer after surge, yields steadier, dollar edges up Bank rout turns global but wider equities rebound Equity markets were showing some signs of life on Tuesday following a brutal selloff in the preceding days that was led by a plunge in banking stocks triggered by the collapse of SVB and Signature Bank.

Daily Market Comment – Dollar slides on Fed pause bets after SVB crisis

Fed and US Treasury announce plans following SVB collapse Investors take a 50bps Fed hike off the table, see likelihood of pause US stock futures rally, dollar and Treasury yields extend slide SVB crisis and Fed’s response revive pivot bets The dollar fell against most of the other major currencies on Friday, accelerating its tumble at the start of this week.

Daily Market Comment – Investors hit the panic button ahead of nonfarm payrolls

Dollar turns its sights to another decisive US employment report Yen slips as Bank of Japan refuses to tighten, gold tries to recover Stock markets fall sharply as financial contagion fears infect banks  Nonfarm payrolls, high stakes edition It has been a stormy week for financial markets, characterized by turmoil in interest rates and stocks.

Daily Market Comment – Dollar awaits the NFPs, BoC leaves rates untouched

Fed Chair Powell reiterates hawkish message Data points to tightening US labor market BoC becomes the first major central bank to pause BoJ takes the central bank torch US data points to still-tight labor market, focus turns to NFPs In his second day of congressional testimony, Fed Chair Jerome Powell reiterated his message that interest rates may need to rise more and possibly faster than previously estimated, but he also added that officials have not yet made a call on the size of the March rate hike and that their future decisions will remain data dependent.

Daily Market Comment – Dollar rallies as Powell appears in a hawkish suit

Fed Chair Powell stresses the need for higher rates Dollar rallies across the board, as Fed hike bets surge BoC is widely anticipated to stand pat today Wall Street feels the heat of Powell’s hawkish remarks Powell opens the door to higher and faster rate hikes The US dollar outperformed every other major currency on Tuesday and continued to gain against most of them today as well.

Daily Market Comment – Dollar loses steam ahead of Powell’s testimony

Fed chief testifies before Congress, investors focused on his tone Aussie slides after cautious RBA rate hike, yen ignores softer data Stock markets little changed, waiting for Fed signals and US payrolls Powell appears before Congress The spotlight today will fall on Fed Chairman Powell, who will testify before the Senate Banking Committee at 15:00 GMT.

Daily Market Comment – Gold and stocks recover as US yields cool off

Gold and equities bounce back, capitalizing on retreat in US rates  Dollar drifts lower despite strong data, pressured by cheerful mood Massive week lies ahead with three central banks and US payrolls Stocks ride bond waves Investors entered the new trading week in high spirits, as a calmer tone in bond markets helped to brighten the mood in other asset classes.

Daily Market Comment – Dollar slips from highs ahead of ISM services as stocks defy soaring yields

Dollar eases from highs as yields rally pauses for breath ahead of ISM services PMI But Wall Street bounces back as Fed officials hint at ‘steady as she goes’ approach Euro fights back as ECB hawkish soundbites keep coming, yen mixed on BoJ doubts Supercharged bond yields take a breather Government bond yields in Europe and the United States scaled new heights this week as investors were once again caught off guard by fresh evidence of persisting inflationary pressures.

Daily Market Comment – Dollar slides on Chinese data, euro awaits inflation numbers

Dollar slips as Chinese PMIs spark risk-on mood But pares losses after ISM manufacturing PMI data Euro traders await Eurozone inflation numbers Rising Fed hike bets hurt Wall Street Dollar drops on China PMIs, but Fed hike bets increase on ISM PMI The US dollar traded lower or unchanged on Wednesday, losing the most ground against the kiwi, the euro and the aussie in that order.

Daily Market Comment – Sentiment improves on upbeat Chinese PMIs, dollar sags

Strong China factory data boosts equities but rate hike fears limit gains Dollar pulls back, euro climbs as ECB starts QT Aussie and loonie up on China optimism but soft GDP numbers weigh Markets buoyed as China reopening boost starts to materialize After ending February on a sour note, equity markets started the new month in a cheerier mood with the help of some much-needed positive headlines from China.

Daily Market Comment – Dollar pulls back, pound the main gainer

Dollar slides as durable goods orders slip more than expected Pound outperforms on new Northern Ireland deal Equities gain, but outlook stays dim Dollar slips, but hike bets stay elevated The dollar traded lower against all the other major currencies on Monday, although it rebounded somewhat today.



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