- Home
- Alternative Asset Management
Alternative Asset Management
Cromwell FX Market View Omicron Dominates Headlines
Investor confidence collapsed as the news of the newly named Omicron Variant. World Heath Organisation warned that the variant has a large number of variants some of which have vaccination escape. This new filtered through into risk assets which fell significantly on Friday. ...read more
FX Market View #34 Markets see reprieve since last week’s COVID sell-off
The financial markets slid lower last week as the Dollar picked up the slack and pushed higher. As per normal, the greenback is the ‘go-to’ currency when markets absorb bad news. In this situation, it was once again COVID that was the major contributor towards declining markets. ...read more
Cromwell FX Market View Lockdown Fears Resurface
The Euro fell last week, firstly weighed by ECB comments who continued to push back the need for policy action but more importantly lockdowns across the eurozone began to become a more likely reality as Austria returned to full lockdown. Sterling had some respite being one of the ...read more
FX Market View #33 Euro slides as European Nations battle a COVID surge
The momentum behind the Euro rally last week ran out of steam, as COVID infection numbers surge on the continent. Europe’s central and eastern currencies were also weighed down with little sign of a reprieve. As Europe looks to become the new epicentre for the next wave of the ...read more
Cromwell FX Market View Interest Rate Repricing
The week after the main Central Banks announced their interest rates a repricing of expectations took hold. The USD was once again the main winner as markets began pricing in an interest rate rise by June 2022 as inflationary pressures continue to build. US consumer inflation was ...read more
FX Market View #32 Dollar extends its Rally following high US CPI data
Inflation data reported on the high side in the US with the release of the October CPI numbers, extending the Dollar’s rally over the weekend. The impact this had on other financial markets saw elevated volatility levels in bond markets, as well as unsettled trading patterns for ...read more
Cromwell FX Market View Central Bank Surprise?
Central banks pushed back against the markets hawkish interest rate expectations last week. RBA started the week and set the tone. While ending the yield curve control, any decision to raise interest rats in 2022 was called a complete overreaction. This pushed AUD to be the worst ...read more
FX Market View #31 Dollar strengthens as central banks push back against further tightening
The Dollar held a firmer stance at the end of last week, as major central banks pushed against the markets discounting future tightening. First up in this regard was the Bank of England decision to hold rates, despite the market expecting a hike. Then there was the dovish ...read more
Cromwell FX Market View Euro selloff to continue? Fed and BOE meet
The Euro ended the week as one of the worst performers as the post ECB rally faded. Markets see the Eurozone lagging other major central banks in reducing their stimulus plans and raising interest rates. Australian Dollar ended the week the strongest of the major pairs as the RBA ...read more
FX Market View #30 Dollar is poised for a rally during a week of major announcements
Global yields have firmed this week with a majority of the currency majors paring gains against the Dollar. As opposed to the pattern that developed in the week earlier, the currencies from higher yielding currencies lost ground against the greenback. Most notably, it was the ...read more
Cromwell FX Market View Dollar drifted as Fed taper all but confirmed
The US dollar drifted lower throughout the week continuing its negative correlation with risk assets. Optimism in risk assets meant the USD lost ground against commodity pairs such as NZD and AUD. Fed Chairman Powell spoke and he confirmed that the taper is coming with a base ...read more
FX Market View #29 Dollar holds in narrow range ahead of US Q3 GDP data
As we approach the tail-end of the first month in the last quarter of the year, one key macro view on the week ahead is the preliminary estimates of US Q3 GDP data. The market will look to assess how resilient the US economy is, and how it is hold up against a backdrop of global ...read more
Cromwell FX Market View Strong Energy and Commodities Dominate
The Yen selloff continued through the week as a broader risk on strategy was adopted which spilled over into USD pressure. With little economic announcements the market was left to it's own devices and the continued strength in energy and commodity prices pushed the main ...read more
FX Market View #28 Markets driven by high energy prices and low Chinese growth data
US equities traded higher last week as they rallied on strong earnings reports, which in turn helped global stocks to achieve multi-session gains. As a result the Dollar softens its stance against the majors with the exception to the Yen, despite benchmark yield offerings slight ...read more
Cromwell FX Market View NFP disappoint but USD remains in control
Despite a disappointing NFP on Friday the Dollar remained generally in control during the week. Yen lost across the board as treasury yields continued to rally. New Zealand dollar lost ground despite the RBNZ delivering its anticipated rate hike. Euro lost ground again as ...read more
FX Market View #27 Dollar remains mixed in response to lower US jobs data
The news of last week was how the Dollar would respond to the NFP data being released on Friday. Estimates were pointing towards continued US economic growth, however the market uncertainty resulted in mixed Dollar views ahead of the jobs report. The Scandies lead the way forward ...read more
Cromwell FX Market View Greenback Returns to Dominance
The USD gained across the board as stocks continued to falter. This led to a broader stronger greenback. NZD was the worst performer as further lockdowns due to rising COVID infections led to traders pushing back the chance of a rate hike from October to later in the year. The ...read more
FX Market View #26 Interest rates and risk drive Dollar higher
During the past month the Dollar has been trending higher against the majors, on the back growing investor sentiment towards FOMC rhetoric supporting a rate hike later this year. The Fed will not be the first central bank of a high income country to raise rates, as Norway lead ...read more
FX Market View #26 Interest rates and risk drive Dollar higher
During the past month the Dollar has been trending higher against the majors, on the back growing investor sentiment towards FOMC rhetoric supporting a rate hike later this year. The Fed will not be the first central bank of a high income country to raise rates, as Norway lead ...read more
Cromwell FX Market View USD Ascendancy Continues China’s Worries
USD and JPY were the key winners as risk of sentiment in stock continued throughout the week. China's Evergrande continued to worry equity markets with a risk off theme playing out throughout the week. Evergrande is China's second-largest property developer by sales, and has ...read more
Cromwell FX Market View Yen loses as Fed remains Hawkish
The USD was mostly flat against European pairs as continued issues around gas supply and the risk of inflation muted any gains against the greenback. Yen was the largest winner as a hawkish FOMC meeting accelerated treasury yields. The Canadian Dollar was the weeks best performer ...read more
FX Market View #25 Dollar Gains on Market Uncertainty as Risk Abates
From the beginning of last week, the global markets were depleted of any sustainable risk appetite as the news from the collapse of China’s Evergrande was absorbed. This lifted the Dollar as investors sought safe-haven assets to protect investment portfolios against further ...read more
FX Market View #25
Dollar gains on market uncertainty as risk abates From the beginning of last week, the global markets were depleted of any sustainable risk appetite as the news from the collapse of China’s Evergrande was absorbed. This lifted the Dollar as investors sought safe-haven assets to ...read more
FX Market View #24
Central Bank Meetings are the order of the week A slew of central bank meetings in the week ahead will keep the markets engaged in monitoring the currency majors. Specific attention on Dollar strengthening as the market looks for potential trending patterns to emerge. All in all, ...read more
FX Market View #23
Market looking to Trade the ‘Corona’ Delta The Dollar could not hold onto the gains made earlier in the week, as it paired losses against most currency majors as well as emerging market currencies. The catalyst behind the sliding Dollar most likely stemmed from two sources. ...read more
FX Market View #22
Dollar heads higher on growing US jobs data The Dollar ascended against the currency majors last week, snapping its decline in the beginning of August. Higher than expected jobs growth data was the stimulus that supported the greenback’s upwards trajectory. As a result, US ...read more
FX Market View #13
Dollar range narrows with Month-end corrections As we approach month-end, investor interest in the Dollar accumulated resulting in the greenback shoring up against the majors. It is not clear however if this Dollar strengthening can be seen as a shift in the near-term trend or ...read more
FX Market View #14
A Healthy US Jobs Market is unable to lift the Dollar The US jobs report in May released numbers of a somewhat healthy half a million new employment contracts, however this disappointed against the much higher expected figure. The let down in May came shortly after the revised ...read more
FX Market View #15
Dollar holds onto current levels despite the drop in US yields The US 10-year yield has continued its pattern of trending lower during the past 3 months, and the fall during last week’s trading session was the largest in the past year. This decline has now made it to a ...read more
FX Market View #16
Hawkish FED projections send the Dollar higher The US Dollar rallied following statements from the FED that were more hawkish than previously expected. Lifted higher by the a rise in US interest rates, the Dollar rally was coincided with a sell-off in equities and continued ...read more
FX Market View #21
Only equity markets trade higher as risk appetite falls As the Delta variant of the corona virus subdued several major economies around the globe, the Dollar strengthened last week. In countries such as Japan and Australia as well as parts of the Eurozone, economic activities had ...read more
FX Market View #20
Dollar rally’s on inflation and retail sales data The Dollar rally’s against all major currencies last week apart for the Yen, to break the resistance it faced earlier in the month. A contributing factor towards the slight rally in Yen is put down to the BOJ tweaking its macro ...read more
FX Market View #19
Dollar resists short term sell-off and trades higher In the past week the Dollar faced resistance to its near-term trend of strengthening against the currency majors. Despite the fact that the jobs report released in the beginning of the month showed robust numbers, the greenback ...read more
FX Market View #18
Is this the time to buy into the Dollar dip? Following a hawkish view from the FED, the markets have priced in at least one rate hike before the end of next year. This contributed towards a Dollar recovery in the past 7 days; however the technical picture appears stretched. The ...read more
FX Market View #17
Dollar experiences technical weakening gainst the majors During the past week the Dollar was pushed back as it failed to consolidate weeks of gains against the currency majors. From a technical stance this scenario is not totally unexpected. If you include a more hawkish tone ...read more