Tag Archive: EUR/CHF

FX Daily, January 28: Getting Ducks Lined Up for Later in the Week

2019-01-28

by

2019-01-28

Overview: The global capital markets are consolidating ahead of this week's big events, which include the FOMC meeting, US jobs, an important Brexit vote in the UK parliament and the first look at Q4 EMU and US GDP. The US dollar is narrowly mixed. Equities are mostly lower. European benchmark 10-year yields have edged up, though the US 10-year yield is struggling to hold above 2.75%.

Read More »

FX Daily, January 25: Euro Pares Yesterday’s Losses and Sterling Pulls Back after topping $1.31

2019-01-25

by

2019-01-25

Overview:  The US dollar is paring yesterday's gains against most of the major and emerging market currencies. Sterling pushed above $1.31, an 11-week high on news that the DUP would support Prime Minister's Plan B that calls for limits on the backstop with Ireland, something that the EC and Ireland have indicated are not on the table.

Read More »

FX Daily, January 24: Poor EMU PMI Compounds ECB’s Challenge

2019-01-24

by

2019-01-24

Overview:  The eurozone's preliminary composite PMI for January fell to its lowest level since July 2013.  It reinforces expectations for a dovish Draghi press conference and saw the euro unwind yesterday's gains.  The US dollar is firmer against all the major currencies. 

Read More »

FX Daily, January 23: Markets Walk Tightrope after Yesterday’s US Equity Drop

2019-01-23

by

2019-01-23

Overview:  Global equities have fared better than the 1.4% slide in the S&P 500 yesterday may have implied. Asian markets were mixed, with China, Korea, Hong Kong, Thailand advancing. The Dow Jones Stoxx 600 from Europe is a little changed after falling for the past two sessions. 

Read More »

FX Daily, January 21: Chinese Data and UK Brexit Start New Week

2019-01-21

by

2019-01-21

Overview: Mixed data from China and the anticipation of Prime Minister May's "Plan B" are the main talking points, while US stock and bond markets are closed today.  Asia Pacific equities were higher, while European markets have failed to follow suit.  Benchmark 10-year bond yields are mostly softer, with the on-the-run Japanese Government Bond yield dipping back into negative territory.

Read More »

FX Daily, January 16: Markets are Eerily Calm

2019-01-16

by

2019-01-16

Overview: There is an eerie calm over in the capital market through the European morning today despite some ostensibly worrisome developments.  While many, like ourselves, expect UK Prime Minister May to survive a vote of confidence, it hardly clarifies the outlook. 

Read More »

FX Daily, January 14: Dismal Chinese Trade Data Sets Tone

2019-01-14

by

2019-01-14

Overview:  China's exports and imports were weaker than expected, though the trade surplus swelled to its widest in a couple of years. The implications have undermined equities and weighed on risk appetites more broadly. Nearly all the Asia-Pacific markets were lower except Japan and the Dow Jones Stoxx 60o in Europe is off 0.5% near midday to snap a four-day advance.

Read More »

FX Daily, January 11: Trade Optimism and the Recovery in Oil Boosts Risk Appetites

2019-01-11

by

2019-01-11

Overview:  Optimism on trade talks between the US and China coupled with the biggest rally in WTI in two years (11%+) have helped keep the equity market recovery intact. The MSCI Asia Pacific Index rose today, the eighth time in the past ten sessions, while the Dow Jones Stoxx 600 in Europe is closing in on its second consecutive weekly advance. 

Read More »

FX Daily, January 10: Equity Bounce Stalls while the Greenback Steadies at Lower Levels

2019-01-10

by

2019-01-10

Equities, bonds and the dollar are consolidating the moves seen earlier this week. This means equities are trading heavy and bonds firmer. The euro is paring gains that carried it to its best level (~$1.1570) since mid-October.  After stalling near JPY109 in the last two sessions, the greenback slumped to almost JPY107.75 before finding a better bid. 

Read More »

FX Daily, January 09: Equities Continue Recovery, Greenback Remains Heavy

2019-01-09

by

2019-01-09

Overview:  Global equities have extended the New Year rally. The MSCI Asia Pacific Index advanced for the fifth consecutive session and the 10th in the past 11.  The Dow Jones Stoxx 600 in Europe is rising for the second consecutive session, something it has managed to do only one other time in the past month.  The S&P 500 is off to one of its best starts in years. 

Read More »

FX Daily, January 8: Dollar Steadies, but Weakly for Turn-Around Tuesday

2019-01-08

by

2019-01-08

Overview: The global capital markets remain calm after the surge in volatility seen over the last couple of weeks. Asian equities were mixed, with the Japanese, Australia and Indian shares gaining, but other large regional markets, like China, South Korea, and Taiwan fell. European equities are firmer. Benchmark bond have edged higher. 

Read More »

FX Daily, January 07: Recovery Falters in Europe

2019-01-07

by

2019-01-07

Overview:  The combination of robust US jobs and wage growth, more comforting words from Powell and a strong rally US stocks before the weekend helped lift Asian markets today and underpinned risk-taking appetites.  However, renewed protests in France (and Hungary) coupled with weak German factory orders have prevented European bourses from fully participating in the equity recovery. 

Read More »

FX Daily, December 21: Markets Stumble into the Weekend

2018-12-21

by

2018-12-21

Overview: There is little reprieve from the equity meltdown ahead of the weekend. Major markets in the Asia-Pacific region, including Japan, China, India, and Australia pushed lower. The MSCI index of the region is near 15-month lows. The Dow Jones Stoxx 600 is off about 0.6% near midday in London to make new two-year lows. US shares are also trading lower in Europe.

Read More »

FX Daily, December 20: Stocks Slump and the Dollar Slides as Market Concludes Fed is Mistaken

2018-12-20

by

2018-12-20

Overview:  Once again the US equity market failed to hold on to even minimal upticks.  The sharply lower close spurred follow-through selling in global equities.  Few have been spared the wrath of investors who apparently were disappointed with the Fed and its reluctance to consider stopping the balance sheet unwind. 

Read More »

FX Daily, December 19: The Fed’s Paws may Still Unsettle Investors

2018-12-19

by

2018-12-19

Overview:  The failure of the S&P 500 to sustain even modest upside momentum yesterday is keeping traders on edge today, though another attempt on the upside is likely.  Asian equities were mixed, with Chinese and Japanese shares lower.  The Nikkei closed below the 21000 support level. 

Read More »

FX Daily, December 18: Stock Rout Deepens, Casts Shadow over Holiday Spirit

2018-12-18

by

2018-12-18

Overview: The 2% slide in the S&P 500 to new lows for the year yesterday hit Asian and European equities today. Bond yields are lower, and the dollar is softer against most major currencies. The dramatic equity losses and some disappointing data sparked doubts about the ability of the Fed to raise rates tomorrow at the conclusion of its last meeting of the year.

Read More »

FX Daily, December 14: Week Closing on a Disappointing Note

2018-12-14

by

2018-12-14

Overview:  A string of disappointing economic is spurring risk-off sentiment today.  Global shares prices are being punished and core bonds are being snapped up.  The US dollar is trading higher against most major and emerging market currencies.  The MSCI Asia Pacific Index was flat on the week coming into today's session.

Read More »

FX Daily, December 07: A Couple More Events before Seeing the End of Difficult Week for Investors

2018-12-07

by

2018-12-07

Overview: Global equities have stabilized after US equities recovered yesterday, with the NASDAQ 100 staging its biggest reversal in eight months and the S&P500 recouped almost three percent to close 0.15% lower. Asia Pacific equities were mostly higher. Hong Kong shares, including the mainland shares that trade there, were the notable exception.

Read More »

FX Daily, December 06: New Spanner in US-China Relations Weighs on Risk Appetites

2018-12-06

by

2018-12-06

Overview: The global capital markets were fragile amid trade uncertainty and economic slowdown fears. News that Canada arrested the CFO of Huawei on behalf of the US, ostensibly for violating the embargo against Iran triggered an almost immediate risk-off wave that has extended the equity markets losses, sending core bond yields lower, with the US 10-year slipping below 2.9%, and underpinning the dollar against most currencies, with the notable...

Read More »

FX Daily, December 05: US Market Closure may be a Firebreak

2018-12-05

by

2018-12-05

The 3%+ drop in the S&P 500 yesterday kept global equities under pressure today, though losses in Asia and Europe were milder. In Asia, only Hong Kong and Taiwan benchmarks lost more than 1%. In Europe, the Dow Jones Stoxx 600 is off about 0.8% in late morning turnover.

Read More »