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Tag Archives: Featured

Dollar Rallies on Consumer Comeback

Dollar Rallies on Consumer Comeback Daily FX Market Roundup October 16, 2020 The US dollar traded higher against most of the major currencies on Friday thanks to better than expected economic data. Consumer spending rose 1.9% last month, more than two times the market’s estimate. Excluding autos, demand rose 1.5% compared to a 0.4% forecast. Despite high unemployment and less jobless benefits spending rose for the fifth month in a row. With clothing and accessories leading the gain,...

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Can the US Consumer Power the Recovery?

Equities flat FX – all eyes on the pound Nikkei -0.41% Dax 0.37% UST 10Y 0.72 Oil $40 Gold $1908/oz BTCUSD $11291/oz. Asia and the EU EUR CPI 0.2% North America Open USD Retail Sales 8:30 It’s been a quiet night of trade on the last day of the workweek with equity futures basically flat and FX pairs stuck in 20 pip ranges. Last night’s dueling Town Hall meetings by President Trump and Vice President Biden produced some mild volatility in futures but in the end, there was no major...

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Aussie Double Whammy – Rate Cuts and Risk Off. 6500 in View?

Equities slide on failed stimulus talks Aussie labor data beats but AUD drops Nikkei -0.51% Dax -2.87% UST 10Y 0.69 Oil $40 Gold $1896/oz BTCUSD $11364/oz. Asia and the EU AU Employment 6.9% North America Open USD Philly Fed 8:30 USD Weekly jobless 8:30 Markets were under pressure in Asian and European trade today with Nasdaq futures down more than 2% at one point as investors sentiment soured after it became clear that no US stimulus would be coming before the election next month. The...

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Dollar Drops as Pre Election Jitters Set In

Dollar Drops as Pre Election Jitters Set In Daily FX Market Roundup October 14, 2020 The US Presidential Election is three weeks away and investors are finally beginning to feel the jitters. Stocks sold off for the second day in a row, driving currencies lower in the process. This will be the most dramatic Presidential race in recent history and while most polls show Joe Biden in the lead, investors have grown leery of trusting the polls after being burned in 2016. Over the past few...

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Is the Market Too Complacent on Cable?

Equities up FX flat EZ inflation in line Nikkei 0.11% Dax 0.31% UST 10Y 0.72 Oil $40 Gold $1899/oz BTCUSD $11461/oz. Asia and the EU EU HICP 0.6% North America Open USD PPI 8:30 Equities continued their steady climb higher in Asian and early European trade with both Nasdaq and S&P higher by about 50 basis points but currencies were essentially flat in listless quiet trading. There was very little fresh news flow both on the political and economic front and what little there was...

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5 Reasons Why EURO is Headed Below 1.16

EURO Finally Breaks Down, 1.16 Next? Daily FX Market Roundup October 13, 2020 Euro finally broke down on Tuesday as it experienced its strongest one day slide in 3 weeks against the US dollar. We have been calling for a sell-off for days now as the rise in new coronavirus cases pose a major risk to the region’s outlook. France, Germany and Spain all reported significant spikes in cases which we believed would cause significant concern for investors and central bankers. We finally saw...

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Will Gamma Squeeze End in Tears?

Nas higher but SP lags ZEW in line Nikkei 0.18% Dax -0.19% UST 10Y 0.76 Oil $40 Gold $1923/oz BTCUSD $11499/oz. Asia and the EU EU ZEW 59 North America Open USD CPI 8:30 It was a mixed night of trade in Asian and early European dealing with Nasdaq futures markedly higher while both S&P and Dow remained flat. The relentless bid in Nasdaq continues to reflect investor enthusiasm over the winners of COVID economy almost all of which are high-tech companies that have been able to...

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FX: Stimulus Talks, Brexit and New Global Virus Restrictions

FX: Stimulus Talks, Brexit and New Global Virus Restrictions Daily FX Market Roundup October 12, 2020 The most important drivers of forex flows this week will be stimulus talks, Brexit negotiations and new virus restrictions in Europe and Asia. Based on the continued gains in US stocks, equity traders are completely unfazed by the possibility of things going awry. Currency traders on the other hand are more skeptical with USD/JPY falling for the second consecutive trading day and high...

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FX: What to Expect Next Week

FX: What to Expect Next Week Daily FX Market Roundup October 10, 2020 With less than four weeks before the November 3rd US Presidential Election, it has become very clear that investors believe that regardless of who wins, the economy will do better in 2021 than 2020. Barring another full US lockdown this is almost a certainty. Looking back, 2020 will be one of the darkest times in recent history but medical advances over the past year will make 2021 a year of recovery. More importantly...

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Volatility Dies as Investors Still Hope for Stimulus

Stocks tread water Hopes of stimulus remain Nikkei -0.12% Dax -0.15% UST 10Y 0.76 Oil $40 Gold $1913/oz BTCUSD $10888/oz. Asia and the EU North America Open CAD Employment 8:30 It’s been a very quiet night of trade in Asian and early European sessions with equity futures mildly up but essentially treading water as investors continued to hope for some sort of a stimulus deal before the election. After pulling out of negotiations earlier this week President Trump reversed course and...

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