Wednesday , September 23 2020
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Tag Archives: Featured

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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Is the EURUSD Rally Done?

EU Flash data misses Dollar finds bid Nikkei 0.17 Dax 0.31 UST 10Y 0.64 Oil $43 Gold $1934/oz BTCUSD $1812 Asia and the EU EU Flash PMI 50 vs. 54 UK Flash PMI 60 vs 57 North America Open CAD Retail Sales 8:30 USD Flash PMI 9:45 USD Existing Home 10:00 Flash PMI data weighed on the EURUSD in quiet Friday trade today with the index missing its mark badly as economic activity in Europe slowed materially in August. According to Markit, “Differing trends were recorded across the two sectors...

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Will Jobless Claims Reaffirm a Rebound?

Risk-off dominates post FOMC minutes Gold consolidates losses Nikkei -1.00 Dax -1.20% UST 10Y 0.66 Oil $43 Gold $1926/oz BTCUSD $1756 Asia and the EU No Data North America Open USD Weekly Jobless 8:30 There has been a decidedly risk-off tone in the markets overnight with stock index futures lower across the board but off the session lows as investors continued to react to the cautious tone of Fed minutes. The dollar firmed up a but after days getting a drubbing, but the rebound has been...

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Cable, Euro Push Higher Ahead of FOMC Minutes

Mild risk on in stocks Dollar weakness persists Nikkei 0.226% Dax 0.35% UST 10Y 0.65 Oil $42 Gold $1993/oz BTCUSD $11825 Asia and the EU GBP UK CPI 1.8% vs. 1.3% North America Open USD FOMC Minutes 14:00 Its been a typical summer lull session in both equities and FX with markets essentially listless but the bigger trends of weak dollar positive stocks and steady gold remained in place. On the eco from UK inflation data printed hotter than forecast at 1.8% vs. 1.3%. According to ONS the...

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Dollar Selloff in Danger of Becoming a Rout

Markets push higher Gold through 2K dollar weaker Nikkei -0.20% Dax 0.75% UST 10Y 0.67 Oil $43 Gold $2006/oz BTCUSD $12244 Asia and the EU No Data North America Open USD Building Permits Equities were higher, the buck was lower and gold popped back above the $2000/oz level in quiet late-summer trade with no economic newsflow on the docket. Markets were generally steady with risk on flows continuing to push equities higher as Nasdaq cleared the 11300 level adding 25 basis points in...

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