Thursday , February 27 2020
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After a Two Day Drubbing Markets Try to Stabilize

Futures rally to flat Euro keeps the bid Nikkei 0.79% Dax -1.37% UST 10Y 1.366% Oil $49/bbl Gold $1648/oz BTCUSD $9164 Europe and Asia: No Data North America: USD New Home Sales 10:00 After a two day drubbing, risk assets tried to stabilize in early European trade today with US stock index futures turning green after spending most of the Asian session underwater. Coronavirus news continued to dominate headlines as cases continued to rise in South Korea and Italy, but the news from China...

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Panic Selling Could Drive These Currencies to Fresh Lows

Panic Selling Could Drive These Currencies to Fresh Lows Daily FX Market Roundup Feb 25, 2020 Panic selling continued to hit the financial markets on Tuesday as investors head for the exit. The Dow Jones Industrial Average lost another 800 points which is approximately 3%. Germany confirmed another case of coronavirus, this time from a patient who visited Milan while Switzerland reported its first case also from Italy. Europe’s open borders is becoming a serious problem for virus...

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Market Crash Hits FX. Here’s One Way to Stop the Selloff

Market Crash Hits FX. Here’s One Way to Stop the Selloff Daily FX Market Roundup Feb 24, 2020 Fears of a global pandemic sent equities and currencies tumbling lower. On an intraday basis, the Dow Jones Industrial Average fell more than 1,000 points erasing all of this year’s gains. Today’s move was the single biggest one day decline on a point basis for the Dow since February 2018. For currencies, USD/JPY was hit the hardest and its decline dragged all of the Yen crosses lower....

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Virus Risk – Equities Sink Like a Stone but FX Unfazed

Market Drivers February 24, 2020 Nasdaq Futures down -2% IFO better Nikkei closed Dax -2.83% UST 10Y 1.39% Oil $51/bbl Gold $1678/oz BTCUSD $9775 Europe and Asia: EUR IFO 96.1 vs. 95.3 North America: CAD Wholesale Sales 8:30 Equities were sharply lower in Asian and early European trade today with US stock index futures off as much as 2% on fears that the coronavirus is now turning into a global pandemic as the infection spread through Italy, South Korea, and Japan over the weekend...

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Both Gold and Risk Rally – Why?

Market Drivers February 19, 2020 Gold and USDJPY climb UK inflation slight beat Nikkei 0.89% Dax 0.51% UST 10Y 1.55% Oil $52/bbl Gold $1610/oz BTCUSD $10130 Europe and Asia: GBP UK Core CPI 1.6% vs. 1.4% North America: USD PPI 8:30 CAD CPI 8:30 USD Fed Minutes 14:00 In an unusual correlation, both gold and risk assets move higher in Asian and early European trade today with US futures up about 35 basis points USDJPY firmly through the 110.00 figure and Gold approaching its 7-year highs...

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AAPL Warning Sends Risk Tumbling

Market Drivers February 18, 2020 AAPL warns sends risk lower UK Employment Nikkei -1.40% Dax -0.67% UST 10Y 1.55% Oil $51/bbl Gold $1587/oz BTCUSD $9764 Europe and Asia: GBP UK Employment Claimant Count 5K vs.22.6K North America: No Data Equities and risk FX were lower in Asian and European trade today with Aussie once again hitting decade long lows as Apple warned that they no longer can stand behind their Q1 guidance given the problems with the workforce due to the coronavirus....

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Funda be Damned Risk On Rally Continues

Market Drivers February 17, 2020 PBOC pumps money – risk on flows continue Japanese GDP sinks like a stone Nikkei -0.69% Dax n/a UST 10Y 1.59% Oil $52/bbl Gold $1582/oz BTCUSD $9806 Europe and Asia: JPY GDP -6.3% vs. -3.7% North America: No Data The start of the week saw a mild but steady risk on bias as PBOC suggested that it may offer a lower rate on its medium-term lending facility in effect easing credit conditions in response to the ongoing coronavirus crisis. The news helped to...

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Week Ahead – Will Dollar Extend its Might?

Week Ahead – Will Dollar Extend its Might? Daily FX Market Roundup Feb 14, 2020 Happy Valentines Day! We want to take this opportunity to express our love to our readers ¬– you keep this site going! February has been a great month for the US dollar and US stocks. The Dow Jones Industrial Average climbed to record highs and even as stocks pulled back towards the end of the week, the declines were modest given recent gains. Most importantly we have not seen days of back to back triple...

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Can US Consumer Take USDJPY to 110.00?

Market Drivers February 14, 2020 Markets very quiet EU GDP stays just above even Nikkei -0.59% Dax 0.21% UST 10Y 1.59% Oil $52/bbl Gold $1575/oz BTCUSD $10278 Europe and Asia: EUR GDP 0.1% vs. 0.1% North America: USD Retail Saleas 8:30 It’s been a very quiet night in FX and equity markets but a mild risk-on tone has managed to prevail as the pace of new coronavirus cases has started to slow and there were no significant additional outbreaks outside of mainland China. It’s still too early...

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How Far Can EURO Fall?

How Far Can EURO Fall? Daily FX Market Roundup Feb 13, 2020 Everyone wants to know how much further the euro can fall. Not only has it been in a downtrend since the beginning of the month, but it lost value 8 out of the last 9 trading days and on the one day that it rallied, the increase was modest at best. Investors have beaten the currency down to its lowest level since April 2017. In order to gage how much further the pair can fall, we have to understand why its losing value as...

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