Friday , August 14 2020
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Tag Archives: Featured

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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Are Markets Setting Up for a Micro-Crash?

AU Trade Balance misses RBA stays pat Nikkei 1.70% Dax -0.26% UST 10Y 0.54 Oil $40 Gold $1974/oz BTCUSD $11250 Asia and the EU RBA keeps rates steady North America Open No Data Equities were lower in early European dealing with stock index futures sliding by 25 basis points on slightly risk-off tone and the dollar resumed its downward slide losing about 20-30 pips against most of the major pairs. It was a generally quiet and lethargic night of trade emblematic of the dog days of summer...

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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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PMI Day Shows World Getting Back to Work

EU PMI’s beat UK PMi’s softer Nikkei 2.24% Dax 1.28% UST 10Y 0.54 Oil $39 Gold $1972/oz BTCUSD $11153 Asia and the EU EU Flash PMI 51.8 51.1 UK PMI 53.3 vs. 53.6 North America Open US ISM Manufacturing 10:00 Markets were generally quiet on the first trading day of the week with equities mildly bid on the high tech side while the dollar was slightly higher across the board. The only econ news of importance was the PMI data from Europe and the UK which showed an improvement in the...

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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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Is Dollar Weakness More than Just Rates?

Risk-on flows stall Personal Income on deck Nikkei -2.82% Dax 0.35% UST 10Y 0.53 Oil $40 Gold $1975/oz BTCUSD $11127 Asia and the EU EU GDP -12.1% North America Open US PI/IS 8:30 Markets were subdued on the final days of the month with currencies flat across the board while equities saw little follow-through from the good news in FANG earnings. With little newsflow in FX, currencies went into their usual summer stall last night keeping tight ranges in lackluster trade. The dollar...

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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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Unemployment, GDP Worry Markets

Risk-off as EU data sours All eyes on US GDP Nikkei -0.26% Dax -2.20% UST 10Y 0.56 Oil $40 Gold $1954/oz BTCUSD $10983 Asia and the EU EU GDP -11.7% vs. -10.9% North America Open US GDP 8:30 It’s been a decidedly risk-off trade in Asian and European session today with equities off by nearly 100 basis points ahead of US GDP data. Yesterday, Fed Chair, Powell’s presser offered little fresh news, but the very fact that he offered no new stimulus measures may have had a dent on risk with...

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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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