Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:54 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]


Daily Market Comment – Lagarde gives euro bulls the green light; Pound sinks on Brexit turmoil

Posted on September 11, 2020 at 8:52 am GMT

Never mind about talking down the euro, ECB wants to talk up the recovery Pound tumbles again as UK-EU Brexit row turns ugly, but talks still on Wall Street back in the red as hope for pre-election fiscal boost slips Euro surges after Lagarde poses no threat The European Central Bank kept its monetary policy settings unchanged on Thursday and sounded cautiously optimistic about the Eurozone’s recovery prospects. However, it was President Christine Lagarde’s stance on the exchange rate that [..]


Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]


Daily Market Comment – Pound hammered as no-deal Brexit fears return

Posted on September 8, 2020 at 8:49 am GMT

Brexit comes back to haunt the pound as Johnson raises the stakes Euro sticks to tight range ahead of Thursday’s ECB decision Stocks regain positive footing but dollar up as Trump talks China decoupling Pound slumps after Johnson threatens no deal Only five weeks left to reach a deal and Britain and the European Union are too busy posturing than negotiating, with Boris Johnson’s latest rhetoric once again raising the prospect of a no-deal Brexit. As the talks to agree [..]


Daily Market Comment – Wall Street tumble, job woes put dollar on defensive

Posted on September 7, 2020 at 8:57 am GMT

Dollar edges up as US tech losses deepen, jobs recovery slows Brexit threatens pound rally as Johnson raises his game in EU talks Chinese exports surge keeps risk sentiment afloat as US tensions weigh Tech rally suffers major setback Global equity markets attempted to shrug off Wall Street’s rare selloff last week as Asian shares ended Monday mixed, while Europe’s major bourses opened sharply higher. The somewhat questionable risk-on tone was underscored by better-than-expected trade figures out of China, which [..]


Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:52 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]


Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]


Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:52 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]


Jackson Hole: Will Powell signal move to average inflation targeting? – Forex News Preview

Posted on August 25, 2020 at 4:35 pm GMT

Speculation is mounting that Fed chief Jerome Powell will use the annual Jackson Hole conference of central bankers to announce a revamp of how monetary policy is set. The speech, scheduled for the first day of the economic symposium on Thursday at 13:10 GMT, could outline a shift by the Federal Reserve towards average inflation targeting. Powell’s potentially historic address will likely overshadow this week’s economic releases out of the United States. The July numbers for durable goods orders, and [..]


Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

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