FX Daily, August 13: Dollar Remains Offered
2020-08-13
The poor price action on Tuesday in the S&P 500 was shrugged off, and new highs for the recovery were made as the record high nears. The dollar, on the other hand, seemed to find plenty of sellers against most of the major currencies. The yen was a notable exception.
FX Daily, August 14: Consolidation Featured Ahead of the Weekend
2020-08-14
The equity rally is stalling ahead of the weekend. Most markets in the Asia Pacific region eased, though China and Australia advanced. Japanese shares were mixed. The Nikkei, though advanced for the fourth consecutive session, while the Topis slipped.
FX Daily, August 18: Canada Shrugs Off Loss of Morneau and Gold Reclaims $2000 Threshold
2020-08-18
The NASDAQ rallied 1% yesterday to record highs as the Dow Industrials struggled, and the S&P 500 was able to eke out a small gain. The coattails were short, and the strength of the yen may have contributed to a 0.2% loss of the Nikkei. Still, its 6.2% advance this month is the best among the G10.
FX Daily, August 28: Powell and Abe Drive Markets
2020-08-28
After a confused and volatile reaction to the Federal Reserve’s formal adoption of an average inflation target, it took Asian and European traders to embrace the signal and take the dollar lower. It is falling against nearly all the currencies and has slumped to new lows for the year against sterling and the Australian dollar.
FX Daily, September 14: UK Presses Ahead, China Strikes Out at German Pork Producers, and Moody’s Weighs on Turkey
2020-09-14
A flurry of deals, including the still-evolving Oracle-TikTok tie-up, helped lift equity markets in the Asia Pacific region. South Korea’s Kospi, and Indonesia, which had been battered last week, led the advance. The MSCI Asia Pacific Index rose for the third consecutive sessions. European bourses are little changed while US stocks are firmer.
FX Daily, October 05: Monday’s Dollar Blues
2020-10-05
New actions to contain the virus are being taken in the US and Europe, but investors are looking past it and taking equities and risk assets, in general, higher to start the new week. MSCI Asia Pacific recouped most of last week’s 0.7% loss with gains of move than 1% in Japan, Hong Kong, South Korea, and Australia.
FX Daily, October 08: Markets Catch Collective Breath
2020-10-08
The S&P 500 and NASDAQ closed at their highest levels in around a month yesterday, recouping Tuesday’s presidential tweet-driven drop. We thought the market overreacted to the end of the fiscal talks as many had already recognized that a stimulus agreement was unlikely before the election, but the near round-trip seen in stocks and bonds was surprising.
FX Daily, November 11: Reduced Risk of Negative Policy Rates Lifts Sterling and the Kiwi
2020-11-11
Overview: Investors are trying to figure out the impact of the likelihood of a vaccine. One thing that has happened is that the market perceives less chance that the UK or New Zealand will adopt negative rates, and their respective currencies are adjusting higher. Meanwhile, the equity rally is continuing in Asia and Europe.