US stock markets in meltdown as virus concerns deepen News flow might worsen from here, so risk aversion could linger King dollar dethroned by resurgent yen and a euro that looks more like a safe haven Aussie/dollar collapses to new 11-year low after soft data Safe havens shine, equities plunge as risk aversion reigns The reprieve in global markets didn’t last long, with virus worries returning with a vengeance yesterday to haunt riskier assets and boost defensive trades. US stocks [..]
Flight to safety boosts dollar and gold, yen nurses losses as new virus cases jump again Risk aversion finally reaches equity markets as global stocks stumble All eyes on flash PMIs as virus outbreak shows no sign of abating Dollar holds firm; gold hits fresh 7-year highs The risk-off mood deepened on Friday as China reported another spike in new confirmed cases of the coronavirus, most of which were in two prisons in Hubei province. But investors were also spooked [..]
The Democratic primary race, which will decide who will square off against President Trump at the November presidential election, has kicked off. The field of candidates remains crowded and the outcome uncertain, though national polls increasingly suggest that Senator Bernie Sanders could emerge as the winner. Markets have been complacent so far, assuming that a Sanders surge might boost Trump’s re-election chances by dividing the Democrats. Yet, if Sanders continues to gain momentum, then US stocks – especially the healthcare [..]
‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]
Euro/dollar and euro/franc sink to multi-year lows after weak data extinguish hopes of European recovery Pain train for euro may not be over, difficult to see what can turn this around Meanwhile, virus worries return to haunt stocks and commodity currencies as death toll jumps – yen shines Euro caves in under the weight of disappointing industrial data The world’s most traded currency pair continued its epic downfall yesterday, touching a low last seen in 2017 after a batch of [..]
US equities close at new highs as Powell confirms liquidity injections will continue Futures point to a higher open today as well, despite Bernie Sanders’ election victory Kiwi jumps as RBNZ abandons easing bias, signals an end to rate-cut cycle Wall Street sets more records, yen and gold retreat Financial markets continue to trade in a ‘risk-on’ manner as fears that the coronavirus will have a long-lasting impact on the global economy are gradually diminishing, thanks to a substantial slowdown [..]
Dollar cruises higher after strong payrolls push back expected timing of Fed cuts Yet, stocks struggle for altitude, yen climbs as virus fears remain in play Aussie breaks 11-year low, but quickly bounces back The world’s reserve currency shined once again on Friday, after US payrolls for January exceeded estimates, prompting traders to push back the expected timing of the next Fed rate cut. Nonfarm payrolls rose by 225k, smashing the forecast for a 160k increase and signaling that the [..]
Equities in China fall ~8%, but broader market stabilizes after Friday’s selloff Recession fears reignite, pushing dollar down as Fed rate cuts are priced in Pound drops as Boris ‘talks tough’ – prelude of things to come? US Democratic primary begins, will Bernie Sanders spook stocks? Chinese equities disintegrate, despite PBoC rate cut The coronavirus theme continues to torment financial markets, with Chinese stocks closing lower by almost 8% today, on their first day back from holidays. The losses [..]
Stocks stage major comeback as investors brush aside virus fears However, aussie and kiwi tell a different story – both drop substantially Is the Fed’s ‘not QE’ responsible for the divergence between stock and bond/FX markets? Pound roars higher as BoE keeps rates unchanged Stocks recover, as health officials soothe contagion concerns The market’s rollercoaster ride continued Thursday, with US equities recovering substantial losses to close into the green, even though earnings from heavyweight tech players like Facebook (-6.1%) and [..]
Fed to stay on hold today, but adopt a slightly more cautious tone? Yen retreats, stocks rebound as risk sentiment recovers However, bond and stock markets are not on the same page today Barrage of corporate earnings coming up: Microsoft, Facebook, Tesla, Boeing No action from Fed, but perhaps a more dovish take Investors may finally divert their attention away from the deadly coronavirus today, when the Federal Reserve concludes its policy meeting at 19:00 GMT. There’s virtually no chance [..]
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