URR News and Press, Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 From 09/23/20

Japan's preliminary September PMI was little changed from October, and the composite remained below the 50 boom/bust level. The French PMI showed a similar pattern to the German report, but a bit worse. The US preliminary PMI is expected to follow the European pattern of a continu...

The S&P 500 tumbled for its fourth consecutive, the longest losing streak since February. The dollar strengthened broadly. Asia Pacific shares were lower, led by a 2.4% decline in South Korea and around a 1% loss in China and Taiwan. Gold held yesterday's low near $1882.50. La...

Not surprisingly, China's Prime Loan Rate was left unchanged for the fifth consecutive month at 3.85% and 4.65%, respectively, for the one and five-year benchmarks. S&P is concerned that Spain's political climate may struggle to pass the 2021 budget and continue to press ahead wit...

The major central banks have met, and not one announced fresh policy action. All the brouhaha about the rapid rise of the euro misses that it has been moving sideways for nearly two months. With all the commentary on the euro, it was the yen, whose 1.6% gain last week, led the maj...

The EUR/JPY currency pair, which expresses the value of the euro in terms of the Japanese yen, continues to trade above its 2020 opening price. In mid-January, EUR/JPY set a local high at 122.875, prior to the full emergence of COVID-19 pandemic which sent markets tumbling (including the euro ...

The EUR/AUD currency pair, which expresses the value of the euro in terms of the Australian dollar, has fallen significantly from its recent highs of almost 2.00 in March 2020. The euro drifted downward fairly quickly from its high against the Australian dollar, finding its way back to its pre...

Overview: Asia Pacific equities have taken the march on the US. Led by a 2% rally in Shanghai, most regional markets but Australia closed the week with gains. A two-week fall in the MSCI Asia Pacific Index has been snapped. European stocks are little changed, and the Dow Jones Stoxx 600 is h...

Overview: Profit-taking after the FOMC meeting saw US equities and gold sell off. The high degree of uncertainty without fresh stimulus did not win investors' confidence. The Fed signaled rates would likely not be hiked for the next three years, and without additional measures, that appears ...

Introduction In the past few months, the US dollar weakness generated a significant trend in most of the major currencies as the massive liquidity injections from the Fed resulted in a 10 percent retracement on the USD index since its high of 103 reached on March 20 th . Hence, the euro, w...

Overview: The dollar has been sold against nearly all the world's currencies ahead of what is expected to be a dovish Federal Reserve, even if no fresh action is taken. The Scandis and Antipodean currencies are leading the majors. The South African rand and Mexican peso are leading the emerg...