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Home / Tag Archives: Daily Market Recaps

Tag Archives: Daily Market Recaps

Will it be a Spooky Week for FX?

Will it be a Spooky Week for FX? Daily FX Market Roundup October 30, 2020 Most of the major currencies traded lower against the US dollar on Friday as the Dow Jones Industrial Average tumbled more than 150 points. At one stage, stocks were down over 500 points but came off their lows by the end of the NY session. With only two more business days to go before one of the most closely watched elections ever, investors are reducing their positions in anticipation of big market moves. It’s...

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Monster Beats Do Not Impress as Stocks Sink

Big Tech beats but futures sell-off Euro GDP data beats Nikkei -1.52% Dax -0.40% UST 10Y 0.822 Oil $36.00 Gold $1872/oz. BTCUSD $13222. Asia and the EU EU GDP 16.% North America Open USD Personal Income/Spending 8:30 USD U of M A slew of BIg Tech earnings last night handily beat forecasts but investors were unimpressed with forward guidance and pushed stock index futures sharply lower in Asian and European session trade. Nasdaq futures were down by nearly 2% before rebounding slightly...

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ECB Plans Easing in Dec, How Much Downside for Euro?

Euro Tanks as ECB Plans All Around Recalibration in Dec Daily FX Market Roundup October 29, 2020 The European Central Bank left monetary policy unchanged today but euro sold off aggressively after President Lagarde confirmed that more easing is on its way. They are looking to recalibrate all instruments at their next policy meeting according to the ECB President. We thought there was a small chance of a proactive move at today’s meeting but the central bank will be using the next six...

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Panic Selling Accelerates, Will ECB Act Early?

Panic Selling Accelerates, Will ECB Act Early? Daily FX Market Roundup October 28, 2020 Currencies and equities traded sharply lower on Wednesday as the Dow Jones Industrial Average tumbled more than 900 points. At the start of the week, we warned that panic selling can lead to multi-day declines in the market especially after such strong gains in stocks. When you combine that with major events, “de-risking” can cause sharp and aggressive sell-offs in currencies and stocks. Another US...

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Stocks Resume Slide as Virus Rages

Equities dive as France and Germany consider lockdowns Euro below 1.1800 Nikkei -0.29% Dax -0.93% UST 10Y 0.76% Oil $38.44 Gold $1905/oz. BTCUSD $13646. Asia and the EU No Data North America Open USD Trade Balance 8:30 CAD BOC Statement 10:00 Equity markets were lower once again as lockdown fears gripped Europe amidst a worsening COVID spread that threatened to impair the continent’s biggest economies. Markets were in a sour mood on Wednesday both Germany and France considered...

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Dumping Dollars Before the Election

Dumping Dollars Before the Election Daily FX Market Roundup October 27, 2020 Investors are dumping US dollars ahead of next Tuesday’s US Presidential election. This will be a historic event for the country, the world and the financial markets. The stakes are high and the outcome is uncertain. There’s a very good chance that the next President of the United States won’t be decided on November 3rd which explains wy investors are compelled to reduce exposure and cut positions ahead of the...

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Markets Flatline After Yesterday’s Rout

Equities stage mild rebound after yesterday fall COVID cases continue to rise Nikkei -0.4% Dax -0.72% UST 10Y 0.79% Oil $38.78 Gold $1900/oz. BTCUSD $13132. Asia and the EU No Data North America Open USD Durable Goods 8:30 USD Consumer Confidence 10:00 Markets were essentially flat in Asian and early European trade after a steep sell-off yesterday as investors kept a wary eye on the dual event risks of the US election and rising COVID cases on Europe and North America. Yesterday, the...

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Panic Selling Can Lead to Multi-day FX Moves

Panic Selling Can Lead to Multi-day FX Moves Daily FX Market Roundup October 26, 2020 The mood is shifting in the financial markets. With eight days until the US Presidential election, investors are finally growing nervous. The Dow Jones Industrial Average fell more than 900 points intraday and typically when there is such an aggressive one day decline, further losses are likely. Panic selling will often lead to big multi-day moves in currencies and between record breaking coronavirus...

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Virus V. Earnings – How the Week Sets Up

Equities lower on lockdowns and stimulus fail IFO come sin mixed Nikkei -0.44% Dax -2.05% UST 10Y 0.81% Oil $38.78 Gold $1900/oz. BTCUSD $1308. Asia and the EU EU IFO 95 vs. 96.5 North America Open USD New Home Sales 8:30 A very distinct risk-off mood to the start of the week as investors woke up to grim news that COVID cases were rising to record highs in Europe and the US with France’s caseload expected to hit 100,000 infections per day sometime this week. Adding to the sour mood was...

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FX: PMIs Paint a Different Picture of Global Economy

FX: PMIs Paint a Different Picture of Global Economy Daily FX Market Roundup October 23, 2020 On Thursday we outlined three main factors that could affect how currencies trade – the election, stimulus talk and economic data. As it turns out, data was the leading driver of currency flows on Friday. The dollar traded lower against most of the major currencies with the exception of sterling. PMIs were the main focus and to everyone’s surprise economic activity did not slow as much as...

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