Tag Archive: U.S. Initial Jobless Claims

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

FX Daily, June 25: Contagion Growth and Calendar-Effect Saps Investor Enthusiasm

2020-06-25

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2020-06-25

Given the huge run-up in risk assets this quarter, and the technical indicators warning of corrective forces, concerns over the new infections is pushing on an open door. The S&P 500 gapped lower yesterday and fell 2.6%, led by energy and airlines. The NASDAQ snapped an eight-day rally. Follow-through selling in the Asia Pacific region saw most markets fall at least 1%, with Korea and Australia seeing losses in excess of 2%.

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FX Daily, May 14: Risk Appetites Wane

2020-05-14

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2020-05-14

Overview: Risk appetites have been gradually waning this week. US equity losses mounted yesterday after Tuesday's late sell-off. Asia Pacific equities were off, with many seeing at least 1.5% drops. Europe's Dow Jones Stoxx 600 is off a little more to double this week's decline and leaves it in a position to be the biggest drop since panicked days in mid-March.

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FX Daily, May 7: China Reports an Unexpected Jump in Exports, While Norway Surprises with a Rate Cut

2020-05-07

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2020-05-07

Overview: There is a sense of indecision in the air today.  There have been several developments, but investors seem mostly reluctant to extend positions. China reported a surge in exports in April and an increase in the value of reserves.  Australia reported a rise in exports in March.  The Bank of England left policy steady, but clearly signaled it was prepared to boost its asset purchases. 

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FX Daily, November 7: Trade Optimism Boosts Sentiment but Weighs on the Dollar

2019-11-07

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2019-11-07

Indications that a phase one agreement between the US and China would include rolling back some existing tariffs is boosting risking appetites, sending stocks higher, and pushing up yields. However, this appears to be simply a restating of China's views rather than a new breakthrough. The dollar is paring its recent gains. The MSCI Asia Pacific Index rose for the fifth time in six sessions to reach its best level since August 2018.

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FX Daily, October 17: EU-UK Deal Sends Sterling and the Euro Higher

2019-10-17

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2019-10-17

Overview: A Brexit deal between the UK and the EU has been struck. Whether it can win Parliament's approval is a horse of a different color. Meanwhile, US-Chinese relations continue to sour. The capital markets are narrowly mixed as investors await further developments. The MSCI Asia Pacific is consolidated after gaining for the past four sessions.

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FX Daily, October 10: Setback for the Greenback

2019-10-10

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2019-10-10

Conflicting headlines about US-China trade whipsawed the markets in Asia, but when things settled down, perhaps, like the partial deal that has been hinted, net-net little has changed. Asian equities were mixed, with the Nikkei, China's indices, and HK gaining, while most of the others slipped lower. The 0.9% gain in the S&P 500 yesterday failed to lift European stocks, and the Dow Jones Stoxx 600 is near the week's lows.

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FX Daily, October 3: Shades of Q4 18?

2019-10-03

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2019-10-03

Overview:  Disappointing economic data again drove US equities lower, which in turn carried into Asia Pacific activity. Losses were recorded throughout the region, with the notable exception of Hong Kong. The Nikkei and Australia's ASX were off by 2%. After its largest losing session of the year (-2.7%) yesterday, Europe's Dow Jones Stoxx 600 continues to trade heavily.

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FX Daily, April 26: Euro Remains Soft Ahead of Draghi

2018-04-26

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2018-04-26

The euro made a marginal new low early in European turnover and held barely above the spike low on March 1 to $1.2155. So far, today is the first session since January 11 that the euro has not traded above $1.22. The euro stabilized as the European morning progressed, but there seems to be little real buying interest it ahead of Draghi's press conference following the ECB decision.

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FX Daily, April 12: Geopolitics Overshadow the Fed, Greenback Steadies

2018-04-12

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2018-04-12

The US dollar steadied at lower levels, while equities eased as investors remain focused on the preparations to strike Syria and still tense rhetoric on trade. Reports indicate that the US and France have moved warships into the area and the UK has moved submarines within striking distance as well.

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FX Daily, April 05: Investors Find Comfort in Brinkmanship Blinks

2018-04-05

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2018-04-05

Global equity markets are higher, following the stunning recovery in the US yesterday, where the S&P 500 rallied 76 points or 3% from its lows to it highs, near where it finished. The outside up day is seeing following through today. Without China and Hong Kong, which are on holiday, the MSCI Asia Pacific Index snapped a three-day down draft and closed 0.55% higher.

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FX Daily, March 29: Bonds and Stocks are Firm, While the Greenback Consolidates Upticks

2018-03-29

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2018-03-29

The choppy US equity session yesterday, ultimately ending with modest losses as the tech sector remained under pressure, has been shrugged off in Asia and Europe, where modest gains have been seen. The dollar is little changed after yesterday's gains, and bonds are mostly firmer.

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FX Daily, March 01: USD Snaps 3-Month Slide, Firm Ahead of Powell Part II

2018-03-01

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2018-03-01

The US dollar rebounded last September and October before the downtrend resumed in November, and lasted through January. The dollar gained broadly last month, except against the yen, which rose almost 2.4% in February. This pattern is evident today, the first trading day of March. The dollar is extending its gains against most currencies but is only managing to consolidate in a narrow range against the yen.

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FX Daily, February 22: All Eyes on Equities

2018-02-22

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2018-02-22

The dramatic reversal of US shares yesterday in the last hour of trading has once again pulled the proverbial rug beneath the feet of investors. The turn down, moreover, occurred near important technical levels, seemingly adding to the significance. Global equities have followed suit.

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FX Daily, February 15: Stocks Jump, Bonds Dump, and the Dollar Slumps

2018-02-15

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2018-02-15

The significant development this week has been the recovery of equities after last week's neck-breaking drop, while yields have continued to rise. The dollar has taken is cues from the risk-on impulse from the equity market and the sales of US bonds more than the resulting higher yields. Asia followed US equities higher.

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FX Daily, February 01: Fed’s Hawkish Hold Keeps Dollar Consolidation Intact

2018-02-01

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2018-02-01

The Yellen Fed ended on a high note. She took over the reins the of Federal Reserve an implemented a strategic normalization process monetary policy, and helped engineer not only the first post-crisis rate hikes but also the beginning of unwinding its balance sheet. Most reckon she has done an admirable job at the Federal Reserve, not only in terms of the economic performance on her watch but also the nimble execution policy.

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FX Daily, January 25: And Now, a Word from Draghi

2018-01-25

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2018-01-25

With a backdrop of concern about US protectionism and a possible abandonment of the 23-year old strong dollar policy, and among the weakest sentiment toward the dollar in at least a decade, the ECB takes center stage. What a turn of events for Mr. Draghi, the President of the European Central Bank.

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FX Daily, January 18: Currencies Consolidate After Chop Fest

2018-01-18

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2018-01-18

The US dollar rallied in the North American afternoon yesterday and the timing coincided with the release of the Fed's Beige Book that saw several districts report wage and price pressures. The US 10-year yield moved toward toward 2.60%, and helped by speculation that as US companies repatriate earnings kept abroad that they may have to liquidate the investments, some of which are thought to be in Treasuries.

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