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Investor sentiment is looking up as the week gets going, with the market feeling good about US-China trade deal prospects as China says it will raise penalties on intellectual property violations, which should be a comfort to the US. read report
All of the headlines and data this week and in the end, from a price action perspective, none of it proved to be meaningful. Currencies are all confined to well within 1% of the US Dollar, while stocks barely budged. read report
We’re into the latter portion of the week and price action in the FX market hasn’t been anything to write home about. Currencies remain confined to familiar ranges, waiting for that next big volatility catalyst, whenever it does decide to reveal itself. read report
Investor sentiment has been in deterioration mode into Wednesday, with risk markets under pressure on the news of the U.S. Senate's unanimous passing of a bill backing protesters in Hong Kong and China's subsequent retaliation threat. read report
The US Dollar has been weaker of late, and a lot of this has been attributed to fallout from last week’s abysmal US industrial production print, the worst in over ten years. The discouraging manufacturing update could only serve to embolden the US administration’s protectionist, soft Dollar agenda, and this has resonated with currency traders. read report
We come into the new week with currencies still mostly sideways and unsure of their next big move against the Buck. The market is still waiting for clarity on the US-China trade deal, though the absence of clarity certainly hasn’t worried US stocks, which have once again extended their record run. read report
A turnaround in sentiment into Friday, after US trade advisor Kudlow hit the wires with comments that the US and China were down to the short strokes of a phase one trade deal. But it’s hard to put much weight behind any of these updates, which continue to jump back and forth between the encouraging and the disparaging. read report
We come into Thursday with risk correlated FX under pressure, clearly feeling the stress associated with renewed uncertainty around the US-China trade deal outlook. We’ve since seen a softer round of economic data out of China and a disappointing employment report in Australia, that shouldn’t be doing anything to prop investor sentiment either. read report
The market is back to worrying about the global trade outlook, in the aftermath of President Trump’s latest communication on the matter. While the President reiterated a phase one deal could be around the corner, he more than offset optimism from this comment with accompanying remarks. read report
The US will get back to a fuller session on Tuesday, following the Veterans Day holiday Monday, though there isn’t much going on as far as the US calendar goes, with only second tier data and Fed speak from Clarida and Harker standing out. Instead, the focus will be on UK jobs data and Eurozone and German sentiment indicators. read report
