Entries by Raff Cioffi

Daily Report

Risky assets came off a little overnight but nothing too serious after US banks reported robust earnings yesterday. Today all the focus will be on the signing ceremony of phase one of the US/China trade deal and the details released thereafter. These details will be very important to the market and Mnuchin was verbally watering […]

Daily Report

Believe it or not but it’s true, S&P has made new highs and risky assets  continue to move higher as the market awaits the phase one deal signing ceremony. The Treasury has removed China as a currency manipulator, this appears to be more symbolic than anything else USDCNH is trading around 6.8870,  which shows quite […]

Daily Report

Seems like groundhog day for risky assets as they keep on bouncing and going up. This week is the ceremony of the phase 1 deal signing which is where this support is coming from.  Lets see if Trump can extract as much positive spin out of it as he possibly can for markets. Last  weeks […]

Daily Report

Risky assets continued their move higher overnight as the Iran story died down and euphoria has returned to the markets. USDJPY has managed to hold onto the gains from yesterday however, 109.70/.75 remains immediate resistance for now. Today is US jobs data and should we get a decent print, ( market expects 160K) therefore, anything […]

Daily Report

Risk appears to be back on today as concerns over the Middle East tensions have subsided somewhat. There were no reported casualties from yesterday’s attacks and the market took this as a positive and as such we saw a jump in gold,oil and the US 10 yield. USDJPY is sitting around the session highs of […]

Daily Report

Iran’s retaliation happened overnight as missiles and rockets were launched at bases where US military was present.  Apparently 15 missiles were launched and 3 targets were hit but there is little news of US casualties. Initially this caused a big move in risk off with USDJPY nearly off 100 points hitting lows around 107.65 and […]

Daily Report

Risk sentiment has seen some respite overnight as Iran and US leaders are talking tough rather than instant retaliation/escalation. We also think it’s way too premature to play down the significance of recent events, particularly given the US is said to be sending 2200 marines to the region. Gold hit 7 year highs and USDJPY […]

Daily Report

The weaker than expected US ISM print last Friday coupled with Iran/US tensions has seen a big move in risk off. The weekend was no different with plenty of verbal trading between the two nations and as a result we expect that risk will continue to trade weaker. Iran says it’s no longer bound by […]

Daily Report

Happy New Year to all our clients and readers let’s hope 2020 is a cracker. Stocks last year had a stormer with the S&P seeing gains of 28.87%, the same cannot be said about currencies. Trading ranges were very narrow and volatility was extremely low as a result. However, if history is anything to go […]

Daily Report

There was very little reaction to President Trump’s impeachmenet. Risk had a very small blip but that was about it. The house voted in favour of impeaching the President (the 3rd time it has ever happened) he now has to face trial in January in the  Republican controlled senate where it’ll be very likely he’ll […]