Market News
Morning Commentary & Currency Insights – December 19, 2018
- December 19, 2018
- Posted by: Joey Benedid
- Category: Market News
No CommentsFED expected to hike today with most updated analyst consensus higher going into the meeting at a 78.4% chance that Chairman Powell will announce a further .25% increase to the overnight lending rate to 2.5%. USDCAD simmering down from yesterday’s peak at 1.3496 last recorded June 12 2017. The FED is expected to accompany the
Morning Commentary & Currency Insights – December 18, 2018
- December 18, 2018
- Posted by: Joey Benedid
- Category: Market News
Global equities are flat to lower after yesterday’s 500+ point drop in the DOW and the S&P closing at its lowest levels in 18 months. Oil has shed another 2.4% from yesterday’s close after having been down as much as 4% in overnight markets. Oddly the USD is flat to lower against most G7 currencies
Morning Commentary & Currency Insights – December 17, 2018
- December 17, 2018
- Posted by: Joey Benedid
- Category: Market News
While ranges in FX have been very tight in most currencies it may be the calm before the storm as there are a great deal of events occurring this week in what is historically one of the most illiquid trading periods of the year. They are: Brexit debate in parliament (Monday, Tuesday) FOMC Rate Statement
Morning Commentary & Currency Insights – December 14, 2018
- December 14, 2018
- Posted by: Joey Benedid
- Category: Market News
The seesaw of risk sentiment continues as we see global equities on their back foot with U.S. indices expected to open up in negative territory as well. The dollar is higher mainly on a weaker Sterling with PM May lobbying EU leaders for leniency with Brexit but seemingly not receiving much sympathy. Several EU leaders
Morning Commentary & Currency Insights – December 13, 2018
- December 13, 2018
- Posted by: Joey Benedid
- Category: Market News
Very quiet overnight session with tight ranges in most currency pairs including Sterling which has maintained gains garnered yesterday in anticipation of PM May’s political survival before she heads to Brussels for further Brexit discussions. The ECB has left rates unchanged as anticipated as we now await the news conference scheduled for 8:30AM EST. Markets
Morning Commentary & Currency Insights – December 12, 2018
- December 12, 2018
- Posted by: Joey Benedid
- Category: Market News
Headlines from a WSJ article stating “CHINA WORKING TO REPLACE ITS MADE IN CHINA 2025 PLAN” have equity markets in positive territory with U.S. futures pointing to a higher opening as well. The dollar is generally weaker on the back of this and U.S. inflation data was benign garnering no emotion from the market. Volatility
Morning Commentary & Currency Insights – December 11, 2018
- December 11, 2018
- Posted by: Joey Benedid
- Category: Market News
The U.S. dollar benefitted yesterday from Brexit concerns and lower oil/equities but has consolidated today after posting an outside day on the charts. Sterling’s future is very shaky with a possible no deal Brexit weighing heavily on the currency. U.S. PPI & CPI releases today and tomorrow will catch the market’s eye with ever increasing
Morning Commentary & Currency Insights – December 10, 2018
- December 10, 2018
- Posted by: Joey Benedid
- Category: Market News
Sterling has slumped to an 18 month low after UK PM May “has reportedly aborted a vote on her Brexit deal, which was scheduled for tomorrow evening, after being warned she was on course for a devastating defeat in the House of Commons” several sources have told The Telegraph. “After an emergency conference call with
Morning Commentary & Currency Insights – December 7, 2018
- December 7, 2018
- Posted by: Joey Benedid
- Category: Market News
Busy day ahead with OPEC announcements expected & dual U.S./Canadian employment data due to be released at 8:30 AM EST. USD/CAD has been whippy within a tight range as rumours of an OPEC agreement come out and get denied causing gaps of 20-30 points within seconds. I will try to update you again after the
Morning Commentary & Currency Insights – December 6, 2018
- December 6, 2018
- Posted by: Joey Benedid
- Category: Market News
Even though the market had begun pricing out the January hike USD/CAD moved aggressively higher when the BoC struck a dovish tone with many now looking towards April as a “live” date. Poloz speaks this morning at 8 35 a.m. on “Economic Progress Report and financial stability” as CAD continues to weaken amidst a negative