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Tag Archives: UK 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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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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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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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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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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FX: Quiet End to Q2 as Q3 Uncertainty Looms

FX: Quiet End to Q2 as Q3 Uncertainty Looms Daily FX Market Roundup June 30, 2020 As the second quarter draws to a close, we reflect on the gains in equities and currencies. While the COVID-19 pandemic scarred the markets at the end of the first quarter, recovery was the primary theme of Q2. Countries went into lockdown in February and March and began to ease those restrictions in May and the latest June. For investors, consumers and central banks, fear and panic gave way to optimism....

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Currencies Collapse as US Virus Cases Reach Alarming Levels

Currencies Collapse as US Virus Cases Reach Alarming Levels Daily FX Market Roundup June 26, 2020 When the COVID-19 pandemic began, we all knew that strict lockdown measures in the US and other parts of the world would put major strain on global economic activity. Economic data hit recessionary levels across the globe and investors braced for the worst to come. Then the lockdown measures “worked,” declines in cases prompted countries to ease lockdown restrictions and these re-openings...

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US Virus Cases Hit Record Highs, More FX Losses Likely

US Virus Cases Hit Record Highs, More FX Losses Likely Daily FX Market Roundup June 25, 2020 Equities consolidated on Thursday as the deluge of negative COVID-19 headlines were overshadowed by reports that US regulators will relax the Volcker Rule and allow banks to increase investments into venture capital funds and free up capital that would have otherwise been dedicated to derivatives trades. Risk aversion is in full swing with currencies extending their slide on Thursday after the...

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Dollar Tanks as Trump Talks Up Markets, RBNZ Next

Dollar Tanks as Trump Talks Up Markets, RBNZ Next Daily FX Market Roundup June 23, 2020 In the last 24 hours, President Trump and White House officials have been out in force, aggressively trying to talk up the markets. Stocks consolidated near their highs last week and did not necessary require the extra lift but the President may have wanted a morale boost in the form of equity gains after the low turnout at his Tulsa rally. Regardless investors responded positively to Trump’s...

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