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Tag Archives: Canada / New Zealand

Dollar – 2 Reasons why Friday is the Big Day

Dollar – 2 Reasons why Friday is the Big Day Daily FX Market Roundup August 6, 2020 This Friday is a big day for currencies, equities and Treasuries. Its Congress’ self-imposed deadline for a stimulus package and the scheduled release of non-farm payrolls. Based on the decline in the dollar, investors are worried that job growth will slow and the deadline will pass with no agreement. According to House Speaker Nancy Pelosi, there’s light at the end of the tunnel but Democrats and...

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Dollar Tanks on NFP Worries, What to Expect from BoE

Dollar Tanks on NFP Worries, What to Expect from BoE Daily FX Market Roundup August 5, 2020 The US dollar traded lower against all of the major currencies on Wednesday, a sign that FX traders are worried about Friday’s non-farm payrolls report. With ADP reporting significantly weaker than expected private payroll growth in July (167K vs. 2.3 million forecast) and the employment component of non-manufacturing ISM dropping to 42.1 from 43.1, all signs point to a slowdown in labor market...

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Markets Up But Data Looms

NZD employment strong beat ISM Non-Manufacturing on tap Nikkei -0.26% Dax 0.94% UST 10Y 0.53 Oil $42 Gold $2035/oz BTCUSD $11352 Asia and the EU NZD Unemployment 4% vs. 5.6% eyed UK PMI Services 56.5 vs. 56.6 North America Open USD ADP 8:15 USD ISM Non-Manufacturing 10:00 The bid was back in the markets today with equities up by about 50 basis points while the dollar continued to fall against high beta currencies on risk-off flows. The enthusiasm was stoked by better economic data and...

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Dollar Resumes Slide Taking Cue from Yields

Dollar Resumes Slide in Short-Lived Yield Recovery Daily FX Market Roundup August 4, 2020 The US dollar resumed its slide on Tuesday in what may turn out to be a very short-lived recovery. There were no US economic reports on the calendar but ten year Treasury yields resumed their slide, falling more than 6% and driving the dollar sharply lower in the process. According to the Democrats, stimulus talks are finally moving in the right direction but with extra unemployment benefits gone...

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AUD Backs Off 5 Month Highs Ahead of RBA

AUD Backs Off 5 Month Highs Ahead of RBA Daily FX Market Roundup August 3, 2020 After falling sharply in the month of July, the US dollar kicked off the new month with a nice broad based rally. The greenback traded higher against all of the major currencies despite mixed manufacturing data. According to ISM, manufacturing activity accelerated in the month of July but a separate measure by Markit Economics showed a smaller than expected improvement. The dollar, which had traded strongly...

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US Dollar – Will Buyers Return in August?

US Dollar – Will Buyers Return in August? Daily FX Market Roundup July 31, 2020 July was a very difficult month for the US dollar. The greenback sold off sharply against all of the major currencies hitting multi-month / multi-year lows in the process. In one month, it lost 6% of its value against sterling, 5% versus the euro and more than 4% against the Swiss Franc and Australian dollars. From rising coronavirus cases, falling yields, expiring stimulus benefits, domestic turmoil, an...

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Currencies & Stocks Fail to Escape GDP Sting

Currencies & Stocks Fail to Escape GDP Sting Daily FX Market Roundup July 30, 2020 Currencies and equities traded lower on the back of the biggest quarterly drop in US GDP ever. The US economy contracted -32.9% on an annualized basis in the second quarter. Americans have never experienced a decline as quickly and as sharply as this one. Technically the US economy is in recession and according to the National Bureau of Economic Research, the current recession started in February....

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Dollar Extends Lower on FOMC, Are Investors Worried about GDP?

Dollar Extends Lower on FOMC, Are Investors Worried about GDP? Daily FX Market Roundup July 29, 2020 For the past week, investors have been selling US dollars and unfortunately today at the July Federal Reserve monetary policy announcement, Jerome Powell’s team failed to shift the trend. Instead, the central bank warned that the virus poses considerable risks and they will use full range of tools to support the economy. In reaction, investors drove the greenback to fresh lows against...

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US Dollar Accelerates Slide, Here’s 3 Reasons Why

US Dollar Accelerates Slide, Here’s 3 Reasons Why Daily FX Market Roundup July 27, 2020 This will be a challenging week for the US dollar. On Friday, I outlined three reasons why the US dollar should continue to fall and as markets reopened Monday, investors did not hesitate to take the greenback lower. They sent the dollar tumbling against all of the major currencies and this drove USD/CHF to its weakest level in more than 5 years and EUR/USD to its strongest in 2 years. After breaking...

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3 Reasons Why Dollar Could Fall Further Next Week

3 Reasons Why Dollar Could Fall Further Next Week Daily FX Market Roundup July 24, 2020 It has been a rough week for the US dollar. The greenback traded lower against all of the major currencies falling to multi-month and in some cases, multi-year lows in the process. USD/JPY which has been consolidating in a tight range for more than a week finally broke down on Friday, dropping below 106 to its weakest level in 4 months. The dollar’s weakness was the most pronounced against the euro...

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