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 […]
Amid thin trading and signs the economic recovery is losing momentum, most stocks closed lower on Friday. Adding to the gloom: Congressional negotiations over additional pandemic relief have gone nowhere and likely won’t start again for weeks, now that US legislators have gone on holiday through the end of August. We expect this conviction to […]
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 […]
Asian stocks kicked off the week on a strong positive note; hopes for more policy support being pretty much the only explanation to the early week optimism. The economic calendar is modest, and many market participants will probably extend their long weekends. The ISM Non-Manufacturing Index and jobless claims data will be the most important. […]
The economic calendar is a big one, compressed into a holiday-shortened week. Market participants will be checking out shortly after the Thursday morning jobs report for an extended weekend – somewhere! Employment data is the focus, but ISM manufacturing, consumer confidence, industrial production, factory orders, pending home sales, and auto sales are also all on […]
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 […]
