Tag Archive: Currency Movement

Johnson’s Ability to Lead Tories into Victory at Risk with Today’s By-Elections

2022-06-23

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2022-06-23

Overview: Asia Pacific equities were mixed. Gains were recorded in China, Hong Kong, Australia, and India, among the large markets, while Japan was mostly flat and South Korea and Taiwan shares fell.

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Risk Appetites are Fickle

2022-06-22

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2022-06-22

Overview: Yesterday’s strong US equity gains failed to carry over into today’s session. Japanese and Australian shares fared the best among the large Asia Pacific market, with the Nikkei off less than 0.4% and the ASX off less than 0.25%.

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Equities Jump, Dollar Slips, and European Yields Drop

2022-06-21

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2022-06-21

Stocks are rallying. Nearly all the large bourses in the Asia Pacific region rose with China being the noted exception.

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US Holiday Facilitates Consolidative Tone

2022-06-20

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2022-06-20

Overview: Most equity markets in the Asia Pacific region lost ground today. China’s Shenzhen, Hong Kong, and India were notable exceptions.

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Is a 0.3% Miss on Headline CPI Really Worth a 77 bp Rise in the December Fed Funds Yield?

2022-06-15

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2022-06-15

Overview: Better than expected Chinese data and an unscheduled ECB meeting are the highlights ahead of the North American session that features the May US retail sales report and other high frequency data before the outcome of the FOMC meeting.

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Prospects of Aggressive Tightening Sends Shock Waves through the Capital Markets

2022-06-14

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2022-06-14

Overview: The markets' evolving expectations of a more aggressive monetary policy is not limited to the Federal Reserve, where the terminal rate is now straddling the 4% area, around 100 bp above late May levels.

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Dollar Jumps, Stocks and Bonds Slide

2022-06-13

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2022-06-13

The prospect of a more aggressive Federal Reserve policy has spurred a sharp sell-off in global equities and bonds and sent the dollar sharply higher. The large Asia Pacific bourses were off mostly 2%-4%.

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Over to the ECB

2022-06-09

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2022-06-09

Overview: Equity markets in Asia Pacific and Europe are weaker.  The main exception in Asia Pacific was India, where the market rose by about 0.75%. 

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The Greenback Bounces Back

2022-06-08

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2022-06-08

Overview: After modest US equity gains yesterday, the weaker yen and Beijing’s approval of 60 new video games helped lift most of the large markets in the Asia Pacific region.

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Reserve Bank of Australia Surprises, but Aussie Struggles

2022-06-07

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2022-06-07

Overview: The jump in US interest rates helped lift the greenback to new 20-year highs against the Japanese yen and pushed the euro back below $1.07. US equities saw initially strong gains pared and this set the tone for today’s activity.

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Moderating Labor Market is what the Fed Wants

2022-06-03

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2022-06-03

Overview: For the large rally in US stocks yesterday and the sell-off in the dollar, US rates were surprisingly little changed. This set the tone for today's action, ahead of the US employment data. Asia Pacific equities moved higher and Europe’s Stoxx 600 has edged up to extend yesterday’s rise. The 10-year US Treasury yield is little changed, hovering around 2.91%. European benchmark yields are 1-3 bp higher.

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Dollar Gains Pared

2022-06-02

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2022-06-02

Asia Pacific equities were mostly lower.  China and India bucked the trend.  Europe’s Stoxx 600 is steady with no follow through selling after yesterday reversal. US index futures are posting modest gains and are trying to snap a two-day drop. 

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Bank of Canada’s Turn

2022-06-01

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2022-06-01

Overview: The recent equity rally is stalling. Asia Pacific equities were mixed, with Japan, South Korea, and Australia, among the major bourses posting gains. Europe’s Dow Jones Stoxx 500 is slipping lower for the second consecutive session, ending a four-day bounce. US equity futures are little changed.

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Dollar and Yen Surge

2022-05-12

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2022-05-12

Overview: Global equities are bleeding lower. Several large markets in the Asia Pacific region, including Hong Kong, Taiwan, and India are off more than 2%. Japan and Australian bourses fell by more than 1.5%.

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Greenback Softens Ahead of CPI

2022-05-11

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2022-05-11

Overview: It appears that investors have become more concerned about growth prospects and less about inflation in recent days. The US 10-year yield that had flirted with 3.20% at the start of the week is now around 2.93%.

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No Rest for the Weary

2022-05-10

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2022-05-10

Overview: Risk appetites are improving on the margin. Asia Pacific stocks still fell after the sharp losses on Wall Street on Monday. Still, China, Taiwan and Indian equities traded higher. Europe's Stoxx 600 is snapping a four-day 6.5%+ slide and is up around 1.2% in late European morning turnover.

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Fed Day

2022-05-04

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2022-05-04

Overview: The markets are mostly treading water ahead of the FOMC decision later today. Tech stocks tumbled in Hong Kong and the Hang Seng fell a little more than 1%, while India was the worst performer in the region falling over 2% following an unexpected and intra-meeting hike by the Reserve Bank of India.

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RBA Surprises with a 25 bp Hike

2022-05-03

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2022-05-03

Overview: The large bourses in Asia Pacific except Hong Kong eased.  Japan and China's mainland markets are closed for the holiday.  Europe's Stoxx 600 is up about 0.6%.  It gapped lower yesterday and has not entered the gap today.  US futures are a little softer. 

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The Euro Continues to Stuggle to Sustain Even Modest Upticks, but Specs Still Long in the Futures

2022-05-02

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2022-05-02

Overview: The US dollar begins the new week on a firm note ahead of the mid-week conclusion of the FOMC meeting.  Many centers are closed for the May Day holiday, making for thinner market conditions.  Equities are mostly lower in the markets that traded today.  This includes Japan, South Korea, Australia, and India in the Asia Pacific. 

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Did China’s Politburo Throw Markets a Lifeline?

2022-04-29

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2022-04-29

Overview: Speculation that a midday statement by China's Politburo signals new efforts to support the economy ahead of  next week's holiday appears to have stirred the animal spirits. 

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