Friday , September 18 2020
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Tag Archives: Featured

End of Month Dollar Selling, RBA Meeting Next

End of Month Dollar Selling, RBA Meeting Next Daily FX Market Roundup August 31, 2020 With August drawing to a close, the Federal Reserve’s decision to shift its inflation focus last week is catching up to the US dollar. The greenback traded lower against all of the major currencies except for the Japanese Yen. USD/JPY marched to its own tune despite end of month profit taking in US stocks and the sell-off in Treasury yields. This could be tied to political and economic uncertainty in...

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Stocks Pop to Fresh Highs But Are Buyers Balking?

Risk Rally Stall in EU Dollar mildly bid Nikkei 1.12% Dax 0.69% UST 10Y 0.72 Oil $43 Gold $1959/oz BTCUSD $11617/oz Asia and the EU CNY PMI 55.2 vs. 54 North America Open No data Stocks raced to fresh All-time highs on the open of trade in Asia on continued optimism about the “reopening” trade but indices stalled in choppy European trade with London closed for a bank holiday. Equity traders were buoyed by better than expected PMI data out of China which showed that the non- Manufacturing...

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Abe Resigns; Are US Stocks About to Drop?

Abe resigns send USDJY lower Other assets unmoved Nikkei -1.41% Dax -0.44% UST 10Y 0.74 Oil $43 Gold $1951/oz BTCUSD $1447/oz Asia and the EU No Data North America Open CAD GDP 8:30 USD PS/PI 8:30 USD Chicago PMI 9;45 A surprising announcement from Prime Minister Abe that he is resigning due to health concerns sent Japanese markets into a tailspin with Nikkei down by -1.41% and USDJPY down by more than 85 pips. Mr. Abe who has been Japan’s longest-serving Prime Minister stated that he...

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3 Reasons Why Dollar Soared on Fed’s New Inflation Strategy

3 Reasons Why Dollar Soared on Fed’s New Inflation Strategy Daily FX Market Roundup August 27, 2020 The Federal Reserve has a new inflation strategy. Instead of focusing on curbing price pressures, they will now allow inflation and employment to overshoot their targets in order to attain long term price stability. This new approach follows nearly a decade of inflation falling short of their 2% target. Even before COVID-19, the Fed had been thinking about changing its focus. This decision...

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Will Powell Move the Market?

Another Quiet night in equities and FX Powell Speech on tap Nikkei -0.35% Dax -0.5% UST 10Y 0.67 Oil $43 Gold $1941/oz BTCUSD $1443 Asia and the EU No Data North America Open USD GDP 8:30 USD Weekly Jobless Claims 8:30 Its been another quiet night of trade in the markets with mild risk-off overtones as equities traded slightly lower ahead of a key speech by Fed Chair Jerome Powell. Stock index futures could not push past the record highs set yesterday as profit-taking kicked in and...

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Dollar Dips Ahead of Jackson Hole – What to Expect from Powell

Dollar Dips Ahead of Jackson Hole – What to Expect from Powell Daily FX Market Roundup August 26, 2020 For forex traders, Thursday’s Jackson Hole speech by Federal Reserve Chairman Jay Powell is the most important event risk this week. Despite a continued rise in US yields, investors sold US dollars ahead of this big event. The greenback experienced its biggest decline against sterling, the New Zealand and Australian dollars. USD/JPY shrugged off better than expected durable goods...

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Markets Wait for Jackson Hole

Quiet night in equities and FX All eyes on Powell Nikkei 0.03% Dax 0.71% UST 10Y 0.70 Oil $43 Gold $1919/oz BTCUSD $1375 Asia and the EU No Data North America Open USD Durable Goods 8:30 Markets were very quiet on the second day of the trading week with equities holding a mild bid while the dollar was essentially flat. Both the newsflow and economic release calendar were barren with price action reflecting the dog days of summer listlessness as many market participants remained on...

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Why Stocks Fell but Currencies Rallied

Why Stocks Fell but Currencies Rallied Daily FX Market Roundup August 25, 2020 At the start of the NY trading session, investors were buying currencies and equities. The S&P 500 and Dow Jones Industrial Average climbed to record highs, leading high beta currencies such as euro, sterling and the comm dollars higher. Even USD/JPY saw healthy demand with the pair ending the day above 106.00. Although the S&P 500 recovered earlier losses, the Dow still ended the day in negative...

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EURO – Pullback or Correction?

EURO – Pullback or Correction? Daily FX Market Roundup August 24, 2020 It is the last week of August and during this time of the year the markets are normally very quiet. Most people are off enjoying the final bits of summer and spending time with their families before school starts. 2020 is a year like no other but there should still be less participation which means either tight trading ranges or low liquidity breakouts. The US dollar is grossly oversold against high beta currencies...

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Equities Party On

Fresh highs in equity futures Dollar slightly lower Nikkei 0.28% Dax 2.22% UST 10Y 0.64 Oil $42 Gold $1948/oz BTCUSD $1802 Asia and the EU No Data North America Open No Data Equities rose in a straight line in Asian and early European trade to start the week off in a decidedly risk-on mood. There was no key economic or political news trigger the rally, but the markest are clearly expressing a bullish view on global economic recovery and pricing in the prospect of COVID peak without the...

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