It was another risk-off session on Wednesday, with stock markets and the oil price both falling sharply after the US 2/10 year yield curve inverted and indicated the growing possibility of a US recession, which came on top of poor economic data earlier in the day from both Germany and China. The German GDP contracted -0.1% in Q2… Read More »
Stocks and oil soared on Wednesday, while the US$ was mixed, higher against the majors but lower against the commodity currencies after Donald Trump’s administration offered China a reprieve from the sweeping tariffs that were poised to commence on September 1st, reviving hopes of further talks on a trade deal. A US trade representative said the new… Read More »
Things look rather different on Tuesday following the announcement of the delay in tariffs on Chinese goods and all of a sudden we have a positive risk outlook with US stocks moving up sharply and the Jpy back under pressure, and US$Jpy and the Jpy/Xs now looking as though they wants to head. All very confusing, and difficult… Read More »
It was a risk-off Monday, with the same theme looking set to continue in coming sessions, meaning that Gold, the Jpy and the Chf should be in demand, while stocks, the Aud$ and the NZ$ seem set set to remain under downside pressure. —————————————————————————————————————————————– *Trade of the day: August 13, 2019; 7:22 AM(AET) *This is a personal opinion… Read More »
It has been a risk off session to start the week, with various items contributing to the US stocks falling by 1.2%-1.5%, while sending Gold up another 1% on the back of increasing safe haven demand, to a new 14 month high, as US and EU yields headed lower. Note that the US 30-year bond yield fell to… Read More »
After a choppy Friday, the heat map looks rather mixed on Monday although Sterling did fall heavily and it looks set to remain under pressure, both against the US$ and also on the crosses, as we start the new week. Elsewhere, safe haven demand appears to be the medium-term theme, with both the Jpy and the Chf seemingly… Read More »
After a highly volatile week, the FX markets ended Friday on a mixed note – apart from Sterling which headed sharply lower, while stocks slipped slightly as the US/China trade dispute produced another day choppy price action. Donald Trump was again at the centre of attention, adding to the “risk-off” tone by suggesting that trade negotiations would be… Read More »
Stocks rallied strongly on Thursday, and in the short term they seem to have further positive momentum ahead of them, but the longer term charts still appear to be heavy, so selling rallies remains the overall theme. Elsewhere, the FX markets are looking choppy, although the Aud$ and Nzd$ do seem to have mild upside momentum, but as… Read More »
A news headline has just come up, suggesting that the US is going to delay a Huawei licence in response to China stopping crop buying and has seen an instant move to safe-haven ground, with the Jpy spiking higher and the Aud$ dropping by 20 points. More to come on this I guess. The main action was… Read More »
It was a wild ride on Wednesday, led by oil and the metals but extremely volatile elsewhere with the US stockmarkets falling by around 2% and then regaining all of their losses to finish more or less flat on the session. The DJI recovered almost all of its early 600 point loss in what was a rollercoaster session.… Read More »