URR News and Press, Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 From 11/24/20

The contrast between the eurozone and US preliminary PMI readings caught the short-term market leaning the wrong way, and the dollar snapped back after extending its recent losses. Emerging market currencies are also mostly stronger, and the JP Morgan Emerging Market Currency Index is...

Flash Eurozone PMI falls to lowest since May, adding to signs of fourth quarter downturn. Germany remains the brightest spot, led by manufacturing expansion. Job losses continue, though rate of decline holds steady. Selling prices fall, but manufacturers see upward pressure on...

The dollar is broadly weaker. Sterling and the Antipodeans are leading today's move, while the Swiss franc and Japanese yen are laggards. Most emerging market currencies are also gaining on the greenback. For further details see: Markets Look Past Near-Term Challenges

The US dollar had a tough week. It fell against all the major currencies and most of the emerging market currencies. Sterling has gained around 1% against the euro over the past two weeks. For further details see: Beware Of The False Break

European shares are advancing today, and the Dow Jones Stoxx 600 is recouping around three-quarters of yesterday's 0.75% loss. US stocks are narrowly mixed, and the S&P 500 is off by about 0.1%, and the Nasdaq is up roughly 0.6% for the week coming into today. The US dollar is...

The lifting of the lockdown in Victoria saw a surge in employment. The nearly 179k increase blew away forecasts. The dollar is pushing back above JPY104 in the European morning after holding above yesterday's low (~JPY103.65) in local markets. As widely anticipated, Turkey's new c...

The dollar is heavy, and for the first time since the Pfizer announcement, it is trading back below JPY104. Most emerging market currencies are also firm. The main exceptions are the Turkish lira and the Thai baht. For further details see: Balancing Pandemic Surge With Optim...

Sell-side institutions have turned moderately to significantly bearish on the US dollar in recent months. Some banks are expecting up to 20% USD depreciation in 2021. We do not think that the USD will continue to weaken indefinitely from current levels as some economies (Euro area...

The Reserve Bank of Australia cuts its key rate (overnight cash rate and its three-year yield target) to 10 bp and announced a A$100 bln bond-buying effort. The dollar's slide against the Chinese yuan continued today, and a new two-year low has been recorded near CNY6.55. Canada r...

Despite the surging pandemic and new restriction measure, risk-appetites appear strong to start the week. Most emerging market currencies are trading higher, though the Turkish lira is an exception. The greenback is trading heavier. For further details see: Risk On Despi...