Sunday , January 17 2021
Home / Tag Archives: Daily Market Recaps

Tag Archives: Daily Market Recaps

Markets Quiet but Yield Pressures Weigh on Stimulus Prospect

Nasdaq relative weakness FX flat Nikkei 0.85% Dax 0.50% UST 10Y 1.11 Oil $52 Gold $1854/oz. BTCUSD $38000/oz. Asia and the EU EUR GDP -5% US USD Weekly Jobless Claims 8:30 A quiet and uneventful night in the markets so far with Nasdaq futures markedly lower than the other indices while FX remained range bound with little news flow to move prices. The most pronounced divergence today is in equities with Nasdaq lower by 30 basis points while both S&P and smaller caps Russell indices...

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Currencies Wobble Ahead of Biden’s Stimulus Proposal

Currencies Wobble Ahead of Biden’s Stimulus Plan Announcement Daily FX Market Roundup 01.13.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management It may not be long before we see more significant profit taking in equities and currencies. The signs are there – stocks hover near record highs but are struggling to extend their gains. Equities consolidated for the fifth straight day but currencies and Treasury yields are beginning to sell-off. In fact the beginning of...

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For Market Suddenly Inflation Matters

Equities wobble slightly in EU FX subdued Nikkei 1.04% Dax -0.12% UST 10Y 1.11 Oil $53 Gold $1854/oz. BTCUSD $35000/oz. Asia and the EU EUR EU IP 2.5% vs 0.2% US USD CPI 8:30 It’s been a subdued day in the markets with both FX and equities treading water in Asian and early European dealing but the tilt was towards risk off flows as the dollar gained marginally and equities drifted slightly lower. There was little meaningful news flow in the day with just EU Industrial Production on the...

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Euro Unfazed by Merkel’s Threat of 10 Weeks of Lockdown

Euro Unfazed by Merkel’s Threat of 10 Weeks of Lockdown Daily FX Market Roundup 01.12.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The resilience of euro is remarkable. The single currency ended the day higher against the US dollar and Japanese Yen despite German Chancellor Merkel’s warning that the lockdown may last for 8 to 10 weeks if the numbers don’t improve. She reportedly told her conservative party counterparts that “If we don’t manage to hold off...

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Pound Pops on No Negative Rate Comments

BoE’s Bailey – Negative rates “controversial” US Futures stabilize Nikkei 0.09% Dax 0.04% UST 10Y 1.16 Oil $53 Gold $1860/oz. BTCUSD $35000/oz. Asia and the EU No Data US USD JOLTS 10:00 USD Economic Optimism 10:00 Pound popped in morning London dealing after BoE Governor poured cold water on the notion of negative interest rates noting that the idea was “controversial”. Mr. Bailey stated that no country has used negative rates in the retail end of the financial market and that the...

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Dollar Rally Gains Momentum in New Trading Week

Dollar Rally Gains Momentum in New Trading Week Daily FX Market Roundup 01.11.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management As we kick off the second week of January, the greenback extended its gains against all of the major currencies. Despite the first month of job losses in April, the uptick in manufacturing and service sector activity combined with the jump in wages last month renewed demand for US dollars. Vaccine optimism is going a long way in...

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Bitcoin Drops 20% as Markets Turn Risk Off

Bitcoin drops 20% before rebounding a bit Risk FX, equities all lower Nikkei 2.36% Dax -0.41% UST 10Y 1.10 Oil $51.7 Gold $1848/oz. BTCUSD $30949/oz. Asia and the EU AUD Retail Sales US No Data Markets started the week with a decidedly risk off tone with both stock index futures and risk FX lower on the day, but the biggest loser by far was bitcoin which dropped nearly 20% at one point before rebounding. The weekend gyrations in bitcoin took it down to the $30,000 level after the crypto...

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Dollar Recovers Ahead of NFPs as US Political Uncertainty Settles

Dollar Recovers Ahead of NFPs as US Political Uncertainty Settles Daily FX Market Roundup 01.07.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The US dollar traded higher against all of the major currencies on Thursday as months of US political uncertainty finally settled. Last night, Joe Biden was certified as the winner of the 2020 election and in a statement President Trump said there will be an orderly transition on January 20th. The control of Congress...

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Here’s Why FX, Stocks Shrug Off Capitol Chaos

Here’s Why FX, Stocks Shrug Off Capitol Chaos Daily FX Market Roundup 01.06.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Equities and currencies traded sharply higher on Wednesday, seemingly unfazed by the chaos on Capitol Hill and in some ways, encouraged by the Blue wave. For the first time in 10 years, it appears that Democrats will have control of the House, Senate and White House. But the process has been halted by an unprecedented invasion of...

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FX: How to Trade Georgia & Electoral College Votes

FX: How to Trade Georgia & Electoral College Votes Daily FX Market Roundup 01.05.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The US dollar traded lower against all of the major currencies on Tuesday. This broad based decline is a reflection of the market’s concerns about how the US political and economic landscape could change in the next 24 to 48 hours. There are two Senate runoff elections in Georgia that will determine which party controls the...

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