URR News and Press, Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 From 07/06/20

Overview: A new daily high number of contagions globally has been reported, but the risk-appetites have been stoked. Chinese stocks have been on a tear. The Shanghai Composite rallied 5.7% today to bring the five-day advance to 13.6%. Most other regional markets, including Hong Kong, rallied...

The consolidative/corrective phase in the capital markets appears to be drawing to a close. The June PMI readings confirm a significant improvement is underway and that many high-income economies are on track to return to positive growth in Q3. At the same time, the extent of government and ...

The EUR/USD currency pair, which expresses the value of the euro in terms of the U.S. dollar, currently remains perched above the 1.12 level having established a new short-term trading range since the beginning of June. This trading range stretches from 1.1168 to 1.1423, as shown in the chart ...

Overview: Market optimism over the possibility of a vaccine in early 2021 overshadowed the continued surge in US cases, where the 50k-a-day threshold of new cases has been breached. Following the NASDAQ close yesterday at record highs, global equities have advanced. Led by Hong Kong returnin...

Macro News US: The US is currently facing multiple risks that could eventually be reflected in asset prices, especially equities. First, unlike other developed nations that have managed to reduce significantly the number of new confirmed cases per million residents, the US has been exper...

Overview: The resurgence of the contagion in the US has stopped or reversed an estimated 40% of the re-openings, but the appetite for risk has begun the second half on a firm note, helped by manufacturing PMIs that were above preliminary estimates or better than expected. Except for Tokyo an...

Overview: The gains in US equities yesterday carried into Asia Pacific trading today, but the European investors did not get the memo. The Dow Jones Stoxx 600 is succumbing to selling pressure and giving back yesterday's gain. Energy and financials are the biggest drags, while real estate an...

Overview: The combination of rising virus cases and the sell-off in the US before the weekend dragged nearly all the Asia Pacific bourses lower. The Nikkei led the way with more than a 2% drop, but most bourses were off more than 1%. China and Taiwan were also greeted with selling as markets...

We anticipated and have been tracking the corrective or consolidative phase in the foreign exchange market since shortly after the unexpected surge in US non-farm payrolls reported on June 5 . That phase may not be over yet, and the quarter-end adjustments are a wildcard. Many expect large eq...

"We are probably past the lowest point" of the economic crisis caused by the coronavirus pandemic, ECB President Christine Lagarde said in a webinar this morning. "I say that with some trepidation because of course there could be a severe second wave." More news on: Invesco CurrencyShare...