AstraZeneca’s renewal of its coronavirus vaccine test is contributing to a better market mood, favorable for stocks and weighing on the dollar. Japan will have a new prime minister and the UK parliament will debate the controversial internal market bill today, aggravating relations with the EU. Below are thumbnail sketches of the events and data […]
The dollar fell to new lows against the euro, sterling, the Australian dollar, and the Swedish krona last week. However, it was a head fake and the greenback quickly returned to its previous ranges. The combination of the July FOMC minutes that dampened expectations for new initiatives, such as yield curve control or an increase […]
Friday’s sharp corrective pullback in Gold (XAU/USD) was mainly driven by the broad-based US dollar rebound, as the US-China tech war escalation and US fiscal wrangling reinforced the haven demand for the greenback. Better US payrolls report, further, aided the dollar recovery from two-year lows. The bright metal dropped nearly 1.50% and settled at $2035 […]
The market mood is mixed as a new week begins as coronavirus cases continue rising in the US while hopes for a COVID-19 vaccine remain high. Hopes for a breakthrough in the EU Summit are keeping the euro bid. Below are thumbnail sketches of the events and data that shape the macro picture. Country US […]
Asian shares cheer the hopes of further corporate debt, increasing odds of the pandemic’s cure. Global virus numbers rise beyond 13.00 million with the US, Brazil and India on the top. Gilead’s Remdesivir, trials in the UK and Australia are all suggesting that the vaccine is nearer. Below are thumbnail sketches of the events and […]
FX markets have been joggled into action, as risk sentiment has not precisely fallen off a cliff, just as the bears always seem to expect on a Monday. Although if pressed for a view, this morning’s price action seems more related to position-squaring on new USD longs rather than anything else. Overall, the FX market […]
There is a definite risk-off tone to Asia’s financial markets this morning as the week gets underway. Weekend headlines were dominated by fears of secondary outbreaks of COVID-19, especially in Beijing; where part of the city has been locked down to contain a localized outbreak. South Korea and Japan are ready to play whack-a-mole controlling […]
With many countries in the West attempting to reopen their economies, attention has turned to whether new infection rates will remain low as mobility picks up. The week ahead will have a tremendous amount of focus with the Chinese recovery, as critical April economic data will show how fast their economy is bouncing back. China’s […]
