Tiomarkets

Tiomarkets

The first Friday of the month can only mean one thing – US NFP data. While bank economists left their estimates largely unchanged after Wednesday’s strong ADP payroll number, I think it’s fair to say most traders were looking for a stronger number. And let us not forget that Canada also had employment data to release. This brief shift to a macroeconomic focus...

Tiomarkets

The day before US NFP data. Not normally the most exciting of days as traders await the big event. Today would certainly start out quietly for FX with EURUSD mustering a whopping 6-point range in Asia. Europe managed to get things moving a little more, but as I sit down early in the US morning the majority of major currencies are only a few points removed from...

Tiomarkets

Yesterday was a big day for global equity markets as the bounce back from Friday’s mauling continued. Today would begin with a similar emphasis with help from some positive headlines on treatment of the coronavirus. The WHO later tried to dampen expectations about a potential cure, but the tone was set. Add to that President Trumps State of the Union speech and...

Tiomarkets

First of all my apologies for the lack of commentary yesterday - a minor technical issue! But back on board today and its more of the same. Friday saw equity markets plunge on coronavirus fears with yesterday seeing somewhat of a pull back. For FX and commodities it was a case of follow equities with JPY crosses and XAU heading in opposite directions. Tuesday...

Tiomarkets

The end of the month is upon us and what a month it has been. It started with the spat between the US and Iran leading to the accidental shooting down of a Ukrainian airliner. Despite this, many equity markets continued their march to record highs. Phase 1 of the US /Chinese trade deal was officially signed as President Trump’s impeachment trial began. And then...

Tiomarkets

Normally I write my commentary somewhat piecemeal over the course of the day. I let you know what happened in Asia, then Europe and finally the US where I reside. A daily ritual of sifting through a wealth of information, 99% of which you don’t care about and a small balance which you might. Today I decided to wait until the end of the day, put on my slippers...

Tiomarkets

Tuesday saw a reversal of much of Monday’s moves on the premise that ‘no news is good news’. While Wednesday’s focus would be on the FOMC rate announcement, the day began with traders still focused on coronavirus developments. This began with President Trump announcing that US airlines would potentially cease flying to China due to the ongoing issues. In the...

Tiomarkets

Monday saw risk aversion at elevated levels, as markets were overcome with concerns around the spread of the coronavirus. Equities and JPY crosses suffered the most with XAU being the main beneficiary. Today has seen a partial correction of those moves, although there is little in terms of positive news to warrant that reaction. However, sometimes markets just...

Tiomarkets

A new week sees an old theme dominate. If President Trump had hoped there would be something to detract from his impeachment trial, he got it in the form of the Coronavirus. While the Chinese community attempt to celebrate the Lunar New Year, 81 people have died and almost 3,000 are confirmed ill. Almost 50 cases have been confirmed outside of China although thus...

Tiomarkets

The end of the week is upon us, a week dominated by events in China and the spread of the Coronavirus. However, Thursday’s late day statement from the WHO seems to have calmed traders' nerves - for now. As the Chinese New Year celebrations get under way, Asian stock markets make some minor gains in what was a particularly quiet session. However Europe would see...