Tue, Sep 17, 2019 @ 16:29 GMT
Asian markets turned mixed after US stocks stabilized overnight. Treasury yields remain pressured though, as 10-year JGB yield hit the lowest level since 2016. In the currency markets, Dollar strengthens mildly today after a Fed dove dismissed an emergency...
The global financial markets turned a bit mixed today even though risk aversion remains the underlying theme. European stocks are generally lower while US stocks recovers, turning into consolidations. Comments from China suggests that retaliation is still underway despite...
Risk aversion stays in Asia after the -3% crash in Dow overnight. More importantly, treasury yields took another dive on recession fears. US 30-year yield even drops through 2% handle in Asia and hit as low as 1.964. In...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +2.41 mmb to 1311.22 mmb in the week ended August 9. Crude oil inventory gained +1.58 mmb to...
Risk to Canadian dollar is skewed to the downside in the near term. Disappointing economic data since the July BOC meeting have raised speculations of a rate cut, although the consensus remains no change in the monetary policy for...
Risk aversion quickly comes back to the market as German data suggests that the economy is on the edge of recession. Major European indices are trading in deep red and German 10-year yield also hit new record low at...
China’s economic data surprised to the downside in July. Delay in US tariff should have limited boost on China’s growth outlook. Industrial production gained +4.8% y/y in July, missing consensus of +5.8% and June’s 6.3%. The slowdown is the...
Market sentiments staged a strong rebound overnight after US Trade Representative announced to delay tariffs on some Chinese imports. However, there seems to be no committed follow through buying/selling yet. DOW hit as high as 26426.97 but closed at...
Swiss Franc rises broadly today as risk aversion stays in the markets, even though Yen is firm but relatively unmoved. Sterling also recovers with help from stronger than expected wage growth. On the other hand, New Zealand and Canadian...
The forex markets are rather calm so far despite deep risk aversion elsewhere. Most notably, US 30-year yield plunged sharply by -0.118 to 2.130, closing in to 2.102 historical low. Major Asia indices are all in red, following selloff...
Risk aversion is the main theme even though trading is generally subdued today. Yen is currently the strongest one, followed by Sterling and then Swiss Franc. The Pound is trying to recover upside is so far capped by no-deal...
Matteo Salvini, the Deputy Prime Minister of Italy, announced last Friday that he would submit a no-confidence motion against Prime Minister Giuseppe Conte. This marks the collapse of the M5S- League coalition government. Two possibilities arise after Salvini’s move:...
The financial markets are relatively quiet today with Japan and Singapore on holiday. Yen and Swiss franc generally firmer but there is no clear follow through buying to extend last week's rally yet. On the other hand, Dollar is...
As suggested in the CFTC Commitments of Traders report in the week ended August 6, NET LENGTH in USD Index added +1 046 contracts to 31 329. Speculative long positions added +26 contracts while short positions dropped -1 020...
Energy prices remained under pressure as US- China trade re-escalates. According to the CFTC Commitments of Traders report for the week ended August 6, NET LENGTH for crude oil futures declined -11 650 contracts to 375 641 for the...
US-China trade/currency war, no-deal Brexit, global slowdown and central bank easing were the main themes last week. The perceived risks to global economy were moving closer to materializing. Free fall in Chinese Yuan at the start of the week...
Sterling weakens broadly today as surprised contraction in Q2 UK GDP raised concerns of recession. In the background, risk of no-deal Brexit continues to weigh on sentiments. Canadian Dollar is suffering some renewed selling in early US session after...
Headline CPI in China accelerated to +2.8% y/y in July, from +2.7% a month ago. Same as previous months, the key driver of inflation was food prices, which jumped +9.1% y/y in July. In June, food prices also rose...
Sterling stays soft in Asian session and remain the second worst performing one for the week. Risk of no-deal Brexit continues to weigh on the Pound. UK GDP and production data could add more selling pressure. For the week,...
Sterling is back under pressure again in early US session and is trading as the weakest for today. Prime Minister Boris Johnson urged MPs to keep the promise to people an deliver Brexit on October 31. At the same...
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