Daily

Daily Outlook – Friday 31st March Written by Paul Clifford Attachments: Reuters ASIA FX, ANZ NZ Morning Focus WTI Crude Oil traded through, and held, the $50 level. Currently trading 50.51. US inventory tightening and supply disruptions in Libya have boosted the commodity. OPEC supply cut discussions should be monitored… read more

GBP/USD was the biggest mover in the early Asia session jitters yesterday, falling below 1.2462 to a low of 1.2376 ahead the UK delivering signed Article 50 letter to the EU. Still, the currency is only 50 pips down from Monday’s open of 1.2489, and is currently trading around the… read more

Overnight saw the Dollar Index trade up from 98.9 to 99.59, the index is up around 0.8% since Tuesday morning, bouncing off a 4-month low. The strongest Consumer Confidence, 125.6, in 17 years out of the US overnight smashed expectations, this drove the Dow (+0.73%) and S&P500 (+0.73%) up, reversing… read more

On Wednesday Theresa May will announce to Parliament that Article 50 has been triggered. Article 50 will be handed over on Wednesday at 11:30pm (AEDT) to EU council president Donald Tusk, who then has 48 hours to reply, which indicates the start of an 18-month negotiation period on Britain’s exit… read more

The end of the trading week saw President Donald Trumps first real campaign promise defeat, as his republican health care legislation was pulled after a lack of support. Obamacare remains in place. Trump has promised to move directly on to his tax plans. US markets moves were choppy on the… read more

Generally FX market moves were muted as the Health Care vote put traders on hold. The Aussie was the worst performing G10 currency overnight, falling 0.7% to a low of 0.7622 during the session. The Yen consolidated recent down moves, currently trading around the 111 level, it’s direction not helped… read more

Some consolidation and slight pullbacks overnight in US equities as traders await tomorrows vote in Washington on Trumps Healthcare reform plan. The vote is expected to take place during the Asian session, no time confirmed. The VIX moved slightly higher, currently trading 12.7 after Wednesday’s low of 11.2, consolidating a… read more

Is the Trump trade finally over? General risk off overnight saw the DOW and S&P500 experience greater than 1.1% sell offs, with the Australian ASX200 selling off below the 5,700 level during this morning’s trading. The VIX rallied almost 10% and the US dollar index touched early February levels, breaking… read more

The Aussie moved higher overnight on the back of a weaker greenback following last weeks dovish FOMC meeting. The currency moved through 0.77 cents hitting an intraday high of 0.7746 before finally settling around technical support of 0.7730 which was the November peak. Attention now turns to today’s RBA minutes… read more

The U.S. dollar was sold off on Friday on expectation that the Federal Reserve will raise rates at a more gradual pace then initially thought. Traders are now turning their focus on President Trump’s fiscal spending plans and how he intends to push his through his tax cuts initiatives. The… read more