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 […]
December may normally be associated with everything slowing down as we ease our way into the festive period, but as with everything else in 2020, this is no normal December. Donald Trump is continuing to fight the election result and is going out swinging, Brexit talks are somehow still ongoing, the EU budget and rescue […]
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 […]
On Saturday, the media called the US presidential election for Joe Biden, but President Donald Trump rejected the outcome and won’t concede. Additionally, he will continue with legal challenges, claiming fraud. So far, his demand made no progress in courts, as he failed to add prove to his accusations, except for those asking for observers […]
With the US presidential election coming closer, up for November 05, global banks come forward with their analysis concerning the most likely outcome if the market favorite Democrats win. Asian shares remain bid, led by China, while heading into the European open on Monday. Although weekend headlines challenged Friday’s optimism, mainly due to the chatters […]
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 […]
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 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 […]
