Tag Archives: Daily News

The tug of war between extending vs. softening lockdowns continues The dollar remains under modest pressure but we think it will eventually recover; Bernie Sanders has endorsed Joe Biden Europe reopens from holiday today but the news stream remains light; South Africa surprised with an emergency 100 bp rate cut Japan Prime Minister Abe’s approval rating is taking a hit; China’s trade figures for March came in far better than expected The dollar is mostly softer...

It was a relatively good weekend in virus-related news; measures of implied volatility continue to trend lower The dollar is trying to build on its recent gains; investors continue to try and gauge just how bad the US economy will get hit The outlook for oil prices remains highly uncertain and volatile Germany signaled that its stance regarding aid to the weaker eurozone countries remains unchanged; the news stream for the UK has turned negative Prime Minister Abe...

The virus news stream out of Europe has improved a bit The US is already taking about the next relief bill; the Fed continues to roll out measures to address dollar funding issues ADP and ISM manufacturing PMI are the US data highlights Regulators across Europe are asking banks to stop paying dividends; eurozone and UK reported final manufacturing PMIs Japan Q1 Tankan report was released; BOJ tweaked its bond buying program for April RBA minutes were released; Korea...

Markets remain unsettled even as policymakers worldwide continue to take aggressive emergency measures; the dollar continues to power higher Fed rolled out another crisis-era program last night; US Senate passed the House virus relief bill by a 90-8 vote ECB held an emergency call last night and announced an additional bond purchase program to the tune of €750 bln that now includes commercial paper SNB kept rates steady at -0.75% as expected; BOJ continues to flood...

President Trump spoke to the nation last night and did little to calm markets; reports suggest that the Democrats are working on a bill Fed easing expectations are intensifying The ECB decision will be out at 845 AM ET; over the past 17 ECB decision days, the euro has finished lower in 11 of them Reports suggest the Bank of Japan is “likely to strengthen stimulus” next week; Australia announced details of its AUD17.6 bln stimulus plan The dollar is broadly firmer...

The dollar is stabilizing but remains vulnerable to disappointment as markets await details of US fiscal measures US reports February CPI; Joe Biden moved closer to clinching the Democratic nomination BOE delivered a surprise 50 bp rate cut to 0.25% and initiated a new lending scheme; UK government releases its budget today; UK reported weak data RBA Deputy Governor Debelle laid out the likely path for unconventional policy; China reported disappointing money and...

Global financial markets are finally seeing a measure of calm return; local Chinese media is sounding more confident that the situation is now under control The White House will announce fiscal measures today; five states hold primaries and one holds a caucus with 352 total pledged delegates up for grabs Italy announced that it is extending travel curbs beyond just the north to the entire nation; further fiscal measures there will be seen Japan reported February...

The virus news stream continues to deteriorate Lower US yields and growing concerns about the spread of the coronavirus in the US are taking a toll on the greenback OPEC officials are trying to work out another supply cut; The outlook for Turkey is going from bad to worse Simply put, there is nothing the Fed can do to address the economic impact of supply chain disruptions and social distancing Japan reported mostly weaker data overnight; China reports official...

Negative news on the coronavirus has kept risk appetite subdued across the board; the dollar rally continues During the North American session, we will get some more clues to the state of the US economy; FOMC minutes were largely as expected UK January retail sales came in firm; ECB releases the account of its January 23 meeting Australia reported firm January jobs data; China commercial banks cut lending rates; Indonesia cut rates 25 bp to 4.75%, as expected The...

Markets are reacting badly to upward revisions to coronavirus cases in China The euro fell to the weakest level since mid-2017 against the dollar UK housing data adds to relatively upbeat figures since the December elections Malaysia’s government is joining in the counter-cyclical fiscal effort The dollar is mixed on the day. The yen is 0.3% stronger, briefly trading above the ¥110.0 level on negative headlines about China’s coronavirus infections. The euro and...