Global MarketThe consequences of the Federal Reserve leaving rates unchanged continues to linger within the USD as its state of heightened sensitivity leads to anxiety among market participants. The USD is still exposed to some pressure, but has managed to claw back some of the losses of last week with the Dollar Index meandering around the 95.89 regions as of [...]
Lukman Otunuga
ON THE GO
The China episode continues as the Shanghai Composite Index migrates into positive territory, with the major market concluding trading +1.89% higher. Sentiment for the China markets still remains bearish as finance luminaries have criticized President’s Xi Jinping’s management for what they characterize as a series of inept and potentially detrimental attempts to sustain the Chinese nation’s equities and economy.The [...]
Global Market: As ambiguity grows within the financial markets due to the lack of clarity offered by the trading sessions, the USD has been on the receiving end and as such has been exposed to further weakness. A looming FOMC statement release, in addition to an uneasy atmosphere felt by market participants has punished the value of the Dollar in September.Despite [...]
Global Markets: The markets have woken up to another morning of woes over the China economy, as data released over the weekend pointed towards further signs of weakness for the Chinese economy. Most market participants were already concerned about the slowing rate of growth in the world’s second largest economy, and the annualised Industrial Production data failing to meet expectations will [...]
Global MarketsThe Shanghai Composite Index is continuing to struggle when it comes to finding direction, with the major market looking set to conclude the week in red territory. This has been a week of mixed data releases for the China economy with both imports and exports dragging sharply lower, while on the other hand headline CPI exceeded expectations. Still, the [...]
Global MarketsThe uncertainty derived from the looming Fed rate hike decision punished Asian equities as a wave of risk aversion restrained the US markets yesterday. In the overnight Asian session, it was announced that China’s CPI rose by 2.0%, not only beating expectations but rising at the fastest pace this year. While the stronger headline CPI reading attempted to provide [...]
Global Markets: The China saga continues as the Shanghai Composite Index journeys into green territory, with the major market concluding trading over +2.25% higher. It appears that the noticeable decline in both imports and exports from the recent China economic data has been shrugged away, with this perhaps linked to expectations that the PBoC will ease monetary policy further.Focus will [...]
Like many emerging currencies, the Naira has received punishment due to demand for the USD, and over the last month the USDNGN has seen a high of 199.3847 and a low of 197.4500 as the currency is shaken by low oil prices and falling demand in commodities. Over the last year, the Naira has fallen by 17 percent against the [...]
Global MarketsThe China trade figures released overnight continued to highlight further weakness in the China economy, with both exports and imports declining. The continual decline in imports suggests that China is shifting away from an import dependent nation to one which is encouraging consumers to look more within the domestic market for its products and services. This change in approach [...]
Global Markets: Confusion rippled through the markets on Friday after an unimpressive headline NFP figure inspired USD strength. Due to the unclear Federal Reserve US interest rate expectations, the USD is continuing to trade with sensitivity and any positive news from the US economy could install a bullish rally. Although the headline NFP number wasn’t great, the improvement in wage growth [...]
Global Markets: The value of the EUR diminished in an aggressive fashion on Thursday as a dovish sounding Draghi invited concerns about the single currency. The Euro selling pressure weakened overall risk sentiment which translated to a re-established appetite for the USD. This domino effect rippled through the commodity markets which resulted in a swift decline in Gold.It felt like [...]
The GBP continues to receive punishment from the risk-off trading environment and continual financial volatility. The Construction PMI for the UK was released below expectations on Wednesday, which could have weakened sentiment even further or at least prevented the GBP from recovering losses. Although the outlook for the UK economy remains robust, investor sentiment is clearly weak at present and [...]
Global Markets: The US Stock markets took a hit on Tuesday as the vulnerability from the Shanghai Composite Index dispersed into the US trading session. With manufacturing data in China falling to a three-year low, market participants received confirmation that the nation was in a period of deceleration and this weighed on investor sentiment throughout the global markets.The weak US [...]
WTI surged with a new lease of vitality during the last trading week of August, surpassing technical resistance above $42.50 and concluding the week gaining $11. This represented the strongest gains for over four years and the surge rippled across not only the FX markets, but the equities and global stock markets as well. This also provided a welcome boost [...]
Global Markets: The USD showed resilience deep into yesterday’s session as its appreciation was felt across the corners of the FX markets. The polarity change experienced at the start of the trading week rebalanced in favour of the USD bulls which in turn the EUR and GBP were no matches for. Both the EURUSD and GBPUSD were brought to their knees [...]
Global Markets: President of New York Federal Reserve, William Dudley, came to the rescue yesterday as his hawkish tone renewed some bullish sentiment within the Dollar. In the trading weeks of August, the major currency has been exposed to extended periods of weakness due to concerns that the long-awaited US interest rate hike might be postponed, but the Federal Reserve official [...]
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