Tag Archive: Eurozone Services Purchasing Managers Index

FX Daily, March 24: Relief Bounce On Tuesday, but Turn Around not Secure

2020-03-24

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2020-03-24

Overview: Bottom-picking, after officials step up efforts and some optimism creeps in, is helping lift spirits today. As one looks at the equity bounces, it is important to remember that among the biggest rallies take place in bear markets. Nearly all the bourses in Asia-Pacific rallied, led by a 7% advance by Japan's Nikkei and an 8%+ surge in South Korea's Kospi. Most other markets were up 2%-5%.

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FX Daily, September 23: Dreadful European Flash PMI Drags the Euro Lower

2019-09-23

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2019-09-23

Overview: The critics who claim the ECB's policy response was disproportionate got a rude shock today with the unexpected weakness revealed by the flash PMI. The euro looks to re-visit the lows set recently near $1.0925. Sentiment has also been eroded by the poor South Korean export figures. Asia Pacific equities moved lower, though Tokyo markets were closed. Indian equities, however, continue their pre-weekend surge.

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FX Daily, June 05: Dollar Remains on Back Foot

2019-06-05

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2019-06-05

Overview: The Federal Reserve's patience never excluded a rate cut should conditions warrant. The acknowledgment of this without signaling a change its stance is being seized upon to justify aggressive pricing of rates. At the same time, there has some tempering of trade anxiety on the margin that is also constructive. Asia and European equities were pulled higher after the strongest rally in several months in the US. 

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FX Daily, May 23: Trade, Brexit, and Disappointing Flash PMIs Weigh on Global Markets

2019-05-23

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2019-05-23

Overview:  The deterioration of the investment climate is spurring the sales of stocks and the buying of bonds. The dollar is firm.  China and the US appear to be digging as if the trade tensions will remain for some time and the breech is beginning to look too big for Trump and Xi to pull another rabbit out of the hat like they did at the end of last year when the tariff truce was struck.   The move against Huawei and possible a number of...

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