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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...
Positive news regarding the Covid19 vaccine combined with more easing to be announced by central banks in December should compress volatility in the short term. The pound is a risk on currency that performs well relative to the US dollar when volatility drops. Hence, rising liquid...
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...
The dollar did well after suffering broadly the prior week. The New Zealand dollar was bolstered by the unwinding of expectations that the central bank would adopt a negative target rate. Sterling's gains ahead of the weekend were sufficient to settle positive, just barely, on the...
The G20 meeting of finance ministers and central bankers is to further progress on debt relief for the poorest countries. The dollar slipped to a three-day low near JPY104.85 today, but it continues to consolidate Monday's surge that lifted it from around JPY103.20 to a high near JPY1...
There is a nervous calm in the capital markets today. The dollar is mixed, with the sterling and the dollar bloc softer and the euro, yen, and Swiss franc a little firmer. The Turkish lira is extending yesterday's sharp gains, while many of the regional Asia Pacific currencies low...
China's Single's Day sales were impressive, but the focus is on the new antitrust action that threatens to curtail the growth of its internet giants like Alibaba. Sterling has been underpinned by the pendulum of market expectations swinging away from negative interest rates. While...
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On Thursday, May 16th, U.S. stock markets closed in the red as investors adjusted their rate-cut expectations following data showing a sl...
On Wednesday, May 16th, U.S. stock markets closed significantly higher, with major indexes reaching record highs. The S&P 500 and Nasdaq each c...
On Tuesday, May 15th, U.S. stock markets closed higher, with the Nasdaq reaching a record closing high. Both the S&P 500 and Dow Jones also saw...