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Markets should be rather quiet on Monday, in light of the holiday thin trade. The UK and US are out enjoying long weekends accounting for the thinner conditions. Earlier today, China industrial profits declined, which proved to be a bit of a drag on sentiment read report
Into Friday, it’s the Swiss Franc that’s up most against the Buck since the weekly open, while the Yen and GOLD are right behind, to round out a story of clear risk off. Key standouts on today's calendar come from UK retail sales and US durable goods. read report
The market continues to buy US Dollars, though the move has been less than convincing to this point, with the Buck unable to really gain much momentum despite the rally. It seems many out there are keeping an eye on the Euro, which to this point, is still holding up above the yearly low. read report
Though we’ve seen fresh 2019 lows in Kiwi, a beaten up Pound on renewed Brexit worry and the Euro tracking just off its yearly low against the Buck, overall conditions remain quite subdued in FX, and all of these markets remain confined to familiar ranges. UK, inflation, Canada retail sales and the Fed Minutes stand out on Wednesday. read report
China’s latest liquidity injection is trying to stabilise risk markets into Tuesday, after stocks took another hit in Monday trade, with a lot of that weakness sourced to the Huawei fallout and more tension between the US and China. Meanwhile, movement in the FX market has been exceptionally subdued, despite Dollar demand. read report
The US Dollar is strong into the new week, though ultimately, there haven’t been any major changes to the outlook. The Pound has been hit the hardest of late, falling back on a breakdown in talks between the UK government and Labour opposition, and on the latest softer earnings component in the UK jobs report from the other week. read report
Global markets continue to keep a close on eye on updates relating to US-China trade as the week gets set to close out. Stocks have come back under some pressure on Friday, with many worrying about reports China may not be interested in continuing trade negotiations with the US. read report
As we head into the latter half of the week, currencies are trading mixed against the US Dollar, with the flight to safety correlated Swiss Franc and Yen up against the Buck, while the rest are lower. read report
Global sentiment was trying to make a turnaroud back to the topside into Wednesday, in reaction to a softer, more encouraging round of White House rhetoric on trade with China. However, today’s softer China retail sales and industrial production prints are reminding investors about other downside risks. read report
There’s been some relief to risk markets on Tuesday, after we had seen another intense round of risk liquidation in Monday trade, on the back of escalated tension between the US and China. The market is feeling better about the President’s latest words, in which he has said he looks forward to talks at the G20 meeting. read report
