Time is running out for passage of additional US fiscal stimulus in 2020 as the year winds down and the holidays rapidly approach. Congressional parties hit a brick wall yet again, even with the scaled-down $900 billion plan, this time on conflict over employer virus liability. Each time the negotiations appear to be about to […]
COVID-19 is likely to remain the dominant market theme in the coming, holiday-shortened week. The rising trajectory of the pandemic versus ongoing progress toward a vaccine will cause investors to whipsaw wildly between pessimism and optimism, driving markets lower or higher depending on prevailing sentiment. Last week played out much as we predicted, when positive […]
Brexit talks and rising coronavirus cases in Europe are also a consideration for general market mood. The EU and UK resume negotiations this week and the risk of a no-deal Brexit is another shroud of uncertainty for the global economy. The focus will shift to the latest US non-farm payrolls report on Friday. Rosy data […]
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 […]
Investors are cheering fresh hopes for an upcoming coronavirus vaccine and upbeat Chinese PMIs. Eurozone CPI figures and end-of-month flows are set to move markets. Stephen Hahn, head of the US Food and Drug Administration, said he is willing to fast-track vaccine approval if benefits outweigh the risks. China has approved the Sinovac COVID-19 vaccine […]
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 […]
