Market Review Articles

US equities lower amid continued uncertainty. AUDUSD higher as CPI falls by less than expectations, indicating a stronger than expected economy which is a positive sign considering the recent COVID-19 outbreaks in state Victoria.

UK June GfK consumer confidence was slightly better than expected (‐27 vs. ‐29). The rebound in confidence has been limited so far, relative to other activity and sentiment data  Dollar slightly firmer after positive NFP data but lacks real conviction US covid-19 cases reach 56.k (another new record) in just a single day

Asian stocks posted light losses overnight amid investor concerns around an increase in covid-19 cases in US, Europe and China as some lockdown measurers have temporarily been put back in place.  Both the AUD and NZD traded higher amid a decline in covid-19 cases being reported in Beijing. AUD/USD traded…

The U.S. stock markets soared for the first time in three days amid a stabilization in oil prices after plunging to a -$40 a barrel at the beginning of the week.

The S&P 500 has fallen for the third time in four days due to renewed fears of the coronavirus’ impact on the global economy.

By all counts, September was a strong month for the U.S. dollar. The greenback appreciated more than 2% against the Japanese yen, over 1% versus the Swiss franc and Australian dollar and about the same amount against the euro. The only currency that saw meaningful gains against the dollar was…

EUR/USD fell sharply after the German Finance Minister Wolfgang Schaeuble said eurozone finance ministers have failed to reach an agreement on the next tranche of loans to Greece. He also said, “Since the questions are so complicated we didn’t come to a final agreement, so we’ll meet again”. Luxembourg Prime…

The dollar was under heavy selling pressure on Tuesday amid a combination of concerns on interest rate differentials and renewed jitters over the possible global reshuffling of dollar-denominated debt. Amid a dearth of US economic data, the greenback tumbled to its lowest level versus the euro in over 2-months at…

Dollar shatters the key trend line resistance at 118.15-20 to hit a 2 week high at 118.50 after a mixed showing in the March Tankan business sentiment survey. The diffusion index for large manufacturers fell to 20 in Q1 from 21 in Q4, the first decline in four quarters and…

The dollar was sharply weaker versus the euro and sterling in the Thursday session. The selling in the greenback was likely the result of a combination of speculation of central banks, particularly the UAE and Asian CBs, shifting reserves from dollars, and rumours of US Treasury Secretary John Snow being…

The major mover in the currency market on Wednesday was the sterling, which sold off against the dollar following a series of weaker than expected economic reports. The rest of the major currency pairs remained within a narrow trading range versus the greenback. Crude oil soared to its highest level…

The Fed raises its fed funds rate by 25 bps to 4.75%, and issued a more upbeat policy statement, sparking renewed rally in the dollar. The decision has erased all of the dollar’s losses that emerged after the higher than expected increase in Germany’s IFO survey earlier today. The Fed’s…

The dollar was mixed in Monday trading, higher against the euro but sharply lower versus the yen as traders remained cautious ahead of tomorrow’s FOMC monetary policy announcement scheduled for 2:15 PM EST. The Fed is widely anticipated to lift its benchmark interest rate by 25-basis points to 4.75%. Since…

4:30 am UK Feb CPI y/y (exp 2.0%, prev 1.9%) 8:30 am CAN Feb Leading Indicators (exp 0.5%, prev 0.5%) 8:30 am CAN Jan Retail Sales (exp 0.9%, prev 0.3%) CAN Jan Retail Sales –ex autos (exp 1.0%, prev 0.4%) 8:30 am US Feb PPI (exp -0.2%, prev 0.3%) 8:30…

The dollar sharpened its losses after a benign core CPI report reinforced speculation that the Fed may finish raising interest rates after this month’s expected tightening. While the headline CPI rose 0.1% in Feb from January’s 0.7%, the core CPI edged up 0.1%. On a year to year level, the…

Net foreign capital flows into the US rose 23% to $66.1 bln in December from a revised $53.8 bln in December (initial was $56.6 bln). This was the second straight month in which net capital flows into the US fall below the trade deficit. The dollar is falling across the…