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We enter the last days of April on the verge of a three month losing streak. The last time the S&P 500 had three consecutive losing months was August through October of 2023. The good news is we are well off the lows. In fact, if you were able to tune out the day-to-day market noise you would ha

EUR/USD remains stable in the 1.13-1.14 range, Danske Bank's FX analysts report. All G10 currencies gain against the USD in April "So far in April, the US Dollar (USD) has weakened against all G10 currencies, with the Euro (EUR) up more than 5% — notably in an environment where CHF, JPY, and gold ha

Last week in Dubai, I had the opportunity to engage with global investors and media on the state of markets, growth risks, and portfolio strategy. While optimism flickered after softer Fed and tariff headlines, the broader conversations made it clear: real risks remain, and old playbooks no longer a

At an International Monetary Fund (IMF) event, Bank of England (BoE) Governor Andrew Bailey said that the central bank must take the risk to economic growth from global trade disruption very seriously. Key Quotes Fragmenting the world economy will be bad for growth. The UK is an open economy so US r

XAU/USD surged to another fresh highs as Trump doubled down on threats against Powell, OCBC's FX analysts Frances Cheung and Christopher Wong note. Bias remains bullish until it turns "Trump said in a social media post on Monday that 'there is virtually No Inflation', pointing to lower energy and fo

Risk assets have come under added pressure following President Trump’s Truth Social post demanding “preemptive” Federal Reserve rate cuts, accusing the Fed Chair of lagging and politicizing monetary policy. This has translated to three-year lows for the US Dollar against outperforming peers. Share:

The dollar extended its slide after clocking its biggest plunge in three years, while both stocks and bonds got slammed — collateral fallout from a deepening global trade war that torched what little remained of risk appetite as a high-stakes geopolitical chess match played out.. At the heart of thi

Markets Early in the session yesterday, parts of global markets showed some relative calm compared the extreme volatility on Monday. Some (desperate?) investors hoped that US negotiations with some countries like Japan could herald the start of a more modest approach? Or was it simply a pause after

AUD/USD trades around the 0.6000 region in Tuesday’s US session after trimming earlier losses within a volatile range.Renewed US-China tariff escalation stokes fears, but signs of global talks and Fed caution temper risk aversion.Mixed technical signals emerge; price trapped mid-range with bearish m

Markets (Interest rate) markets yesterday faced extreme intraday volatility. Swings in US Treasury yields amounted from more than 43 bps for the 2‐y to ‘only’ 33 bps at the very long end of the curve (30‐y). German yields whipsawed about 25 bps across the curve intraday. UK gilt yields saw similar s

In focus today In the US, the March Jobs Report finishes off an eventful week. We think nonfarm payrolls growth slowed down to just 110k (from +151k) amid federal layoffs and sharply slowing immigration. The unemployment rate could edge slightly higher to 4.2% although we think tighter labour supply

USDJPY loses 1.7% as US tariffs stress investors. Short-term outlook becomes gloomier. More losses expected below 146.50. USDJPY slumped to 147.79, experiencing its worst daily drop (-1.7%) since the summer of 2024, as Trump's reciprocal tariffs turned out stricter than expected in some regions, inc