U.S. stocks have been under pressure going into next week’s key economic data releases after the carry over effects of the recent Non-Farm Payroll (NFP) report hurt valuations (in particular rate-sensitive growth stocks). The chart below shows both the 2-year (orange) and 10-year U.S. government bond yields rising of recent leaving future earnings for these...Read More

The Swedish Krone piled on a staggering rally in the aftermath of the Riksbank lifting its target rate to 3.0% from 2.5% and paved the way for further tightening of monetary policy. Before the meeting, the market had been leaning toward a pause in the hiking cycle, but it signalled that it is now looking...Read More

The US dollar is slightly weaker across the board today with more significant declines against the Aussie and the Kiwi. The dip comes after a solid rally going into the New York close. the greenback was supported by a change in perceptions of where the federal funds peak might be. Overnight saw four Fed speakers...Read More

The Australian Dollar bumped high after the RBA raised its cash rate target to 3.35% from 3.10%, a total of 325 basis points has been added since the first hike in May 2022. It has since retraced most of the gains. It seems that the re-acceleration of CPI has caused some concern at the top...Read More

The Australian Dollar collapsed on Friday after blistering US non-farm payrolls (NFP) data lifted the US Dollar. The statistics revealed a US labour force that is running hot, and the market was forced to recalibrate expectations for the peak in the Federal Reserve’s rate hike cycle. 517k jobs were added in January according to the...Read More

As we look ahead to a new trading week, what is the background mood of the market? An argument can be made by the bulls who point to the general progress made by benchmarks like the Nasdaq 100 over the entirety of this past week – a general push to four-month highs – with justification...Read More

Crude oil has had a torrid week so far with wider market movements overshadowing the optimism of China re-joining the global economy. The Federal Reserve, the European Central Bank (ECB) and the Bank of England (BoE) all tightened monetary policy in the last few days. While stocks have broadly rallied, black gold has struggled to...Read More

The US Dollar is under the pump today even though the Federal Open Market Committee (FOMC) hiked the target rate by 25 basis points (bp) as widely anticipated. While the move is unequivocally a tightening of policy, it was in the post-meeting press conference that the message appeared to get somewhat jumbled when Fed Chair...Read More

Gold had a look lower at the US$ 1,900 handle in the US session but quickly recovered back above US$ 1,925. At the same time, the DXY Index, a benchmark measure of the US Dollar, moved to higher ground before collapsing into the New York close. Wall Street had a stellar session on hopes that...Read More