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Tag Archives: Eurozone Outlook

Dollar Succumbs to Virus Fears

Dollar Succumbs to Virus Fears Daily FX Market Roundup July 10, 2020 Surging US COVID-19 cases finally caught up to the greenback this week. USD/JPY broke support on Friday with the US dollar trading lower against most of the major currencies. Aside from the Japanese Yen, the New Zealand dollar, euro and sterling benefitted the most from US dollar weakness. The Swiss Franc, Australian and Canadian dollars remained under pressure on Friday. US producer prices unexpectedly declined in...

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Stocks Fall, Risk Currencies Follow, CAD Employment Next

Stocks Fall, Risk Currencies Follow, CAD Employment Next Daily FX Market Roundup July 9, 2020 The US dollar finally came under some selling pressure on Thursday after the US set another record high of more than 59,000 coronavirus cases on Wednesday. The numbers moderated a bit today but medical facilities across the nation are getting slammed, positivity rates are alarming and the death rate is rising. Jobless claims were better than expected, rising by 1.31 million vs. 1.4 milion the...

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Will US Jobs Continue to Recover?

Markets at standstill Jobless claims key focus Nikkei 0.40% Dax 0.99% UST 10Y 0.65 Oil $40/bbl Gold $1813/oz BTCUSD $9398 Asia and the EU No Data North America Open USD Jobless Claims 8:30 Its been a very quiet night of trade in the markets with currencies moribund and equities just treading water as the summer holiday season and lack of any fresh newsflow has muted any price action so far. On the geopolitical front, the tensions between China and the West remained high with China...

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How Hard Could Australia’s Lockdown Hit AUD?

How Hard Could Australia’s Lockdown Hit AUD? Daily FX Market Roundup July 7, 2020 The US dollar traded higher against most of the major currencies on Tuesday but a large part of its gains were incurred during the Asian and early European trading sessions. In the NY hours, the greenback consolidated with very little direction. Stocks fell hard after yesterday’s rally while Treasury yields inched lower. New coronavirus cases in the sunbelt remain elevated with Texas reporting a new...

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Aussie Tumbles on COVID Fears Market Rally Stalls

Chinese fever eases as risk-off flows dominate Aussie under pressure on COVID fears Nikkei -0.44%% Dax -1.36% UST 10Y 0.666 Oil $40/bbl Gold $1776/oz BTCUSD $9273 Asia and the EU No Data North America Open No Data It’s been a generally quiet night of trade in the markets today but with clear risk-off tone in both FX and equities as some of the enthusiasm from the rally in Chinese assets has begun to dissipate. Chinese equities rallied once again but the move was much muted as the CSI...

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FX Traders Shake Off Coronavirus Worries

FX Traders Shake Off Coronavirus Worries Daily FX Market Roundup July 7, 2020 Over the holiday weekend, the number of coronavirus cases in the US hit new record highs but Monday’s rally in currencies and equities suggest that investors are unfazed by the growing health crisis in the US. The Dow Jones Industrial Average rose more than 300 points as the euro closed above 1.13 against the US dollar for the first time in nearly 2 weeks. It is important to note that even though many...

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Why Are Stocks Up?

Shanghai up 5.3% PMI and ISM on tap for US Nikkei 1.83%% Dax 1.88% UST 10Y 0.69 Oil $41/bbl Gold $1776/oz BTCUSD $9207 Asia and the EU EU Sentix -18.2 vas. -10.9 North America Open USD PMI 8:30 USD ISM Non-Manufacturing 10:00 Equity markets were sharply higher while currencies were far more subdued on the first trading day of the week as risk-on sentiment out of Asia helped lift all assets. The Shanghai compose rose more than 5% today – it’s best performance since 2015. In fact turnover...

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Dark Clouds Loom Over Strong Labor Data

Dark Clouds Loom Over Strong Labor Data Daily FX Market Roundup July 2, 2020 Based on the latest jobs report, the US economy is doing great. Approximately 4.8 million Americans returned to work in the month of June following an increase of nearly 2.7 million in May. The unemployment rate dropped to 11.1% from 13.3% and these improvements drove the dollar and stocks higher. Unfortunately the greenback was unable to sustain its gains as USD/JPY and EUR/USD traded back to pre-NFP levels....

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Risk on Holds Ahead of NFPs

EU Labor Data better Risk on ahead of NFP Nikkei 0.11%% Dax 1.94% UST 10Y 0.67 Oil $39/bbl Gold $1772/oz BTCUSD $9221 Asia and the EU EU Unemployment 7.4% vs. 7.7% North America Open USD NFP 8:30 The dollar was weaker and equities were higher as risk-on flows held ahead of the important US Non-Farm Payrolls report due today at 12:30 GMT. Investors were generally in a positive mood anticipating a big increase in job gains of 3M jobs versus 2.5M the month prior. There is massive...

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Will Non-Farm Payrolls be a Boom or Bust for Dollar?

Will Non-Farm Payrolls be a Boom or Bust for Dollar? Daily FX Market Roundup July 1 2020 The third quarter kicked off with consolidation equities and currencies. Stocks traded slightly higher while the US dollar edged lower allowing sterling, the Canadian, Australian and New Zealand dollars to extend their gains. US coronavirus cases continued to rise at an alarming rate, a sign that the US government has very little control over the growing crisis. Yet investors continue to hold out...

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