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Tag Archives: USD

FX Daily, February 28: Fallout Accelerates

Swiss Franc The Euro has fallen by 0.34% to 1.0606 EUR/CHF and USD/CHF, February 28(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The dramatic response by investors to Covid-19 continues unabated and worse. The slide is accelerating. The S&P 500 posted a 4.4% loss yesterday, its worst session since 2011, and the sell-off is continuing. Many markets in Asia Pacific, including Japan, China, Korea, Australia,...

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FX Daily, February 27: The Rot Continues but Somewhat Less Dollar Friendly

Swiss Franc The Euro has risen by 0.20% to 1.0647 EUR/CHF and USD/CHF, February 27(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: A new phase of the Covid-19 is at hand. Yesterday was the first time that the number of new cases in the world surpassed the number of new cases China acknowledged.  This confirms what we have known, namely that the battle for containing it in China has been lost. However, it...

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FX Daily, February 26: Dramatic Investor Adjustment Continues

Swiss Franc The Euro has fallen by 0.16% to 1.0601 EUR/CHF and USD/CHF, February 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The warning by the US Center for Disease Control and Prevention that Americans should prepare for an outbreak of Covid-19 sent the S&P 500 tumbling to an 11-week low and the 10-year Treasury yield to a record low near 1.30%. The volatility of the S&P (VIX) jumped to its...

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FX Daily, February 25: Capital Markets Remain Fragile after Yesterday’s Bloodletting

Swiss Franc The Euro has fallen by 0.27% to 1.0592 EUR/CHF and USD/CHF, February 25(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Yesterday’s bloodletting in global equities has calmed, but investors remain on edge. Despite all the concerns that the markets were under-appreciating the implications of the new coronavirus, there is a sense that yesterday’s moves were in excess.  Japanese markets, which were...

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FX Daily, February 24: Stocks Slammed and Yields Drop as Virus Containment Fails

Swiss Franc The Euro has fallen by 0.15% to 1.0588 EUR/CHF and USD/CHF, February 24(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The ring of containment of Covid-19 has grown from China. The new frontline is Japan, South Korea, Italy, and Iran. A lockdown of around 50k people near Milan and Austria blocking trains from Italy is scaring investors. Asian markets fell, but South Korea bore the brunt with a...

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FX Weekly Preview: Sources of Imbalance and the Pushback Against New Divergence

The US dollar’s surge alongside gold has eclipsed the equity market rally as the key development in the capital markets. Even the traditional seemingly safe-haven yen was no match for the greenback. The dollar appeared to have been rolling over in Q4 19, as the sentiment surveys in Europe improved, Japanese officials seemingly thought the economy could withstand a sales tax increase, and data suggested the Chinese economy was gaining some traction. However, 2020 has...

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FX Daily, February 21: Covid-19 Contagion Outside China Keeps Investors on the Defensive

Swiss Franc The Euro has risen by 0.02% to 1.061 EUR/CHF and USD/CHF, February 21(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft..com - Click to enlarge FX Rates Overview:  The spread of Covid-19 outside of China and early signs of the economic consequences again emerged to weigh on investor sentiment. Poor Japanese and Australian preliminary February PMI reports and some trade indications from South Korea saw most Asia Pacific equities sell-off. ...

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FX Daily, February 20: Covid-19 Hits Yen and Korean Won

Swiss Franc The Euro has fallen by 0.08% to 1.0619 EUR/CHF and USD/CHF, February 20(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The increase of Covid-19 cases in South Korea and Japan, coupled with China’s changing reverting back to its previous methodology of calculation, dropping clinically-diagnosed cases have again weakened risk appetites and sent the dollar broadly higher. Fears of a Japanese recession...

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FX Daily, February 19: Investors’ Confidence Snaps Back

Swiss Franc The Euro has risen by 0.08% to 1.0617 EUR/CHF and USD/CHF, February 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: After shunning risk yesterday, investors re-entered the fray today, and the animal spirits returned. The MSCI Asia Pacific Index snapped a four-day slide, and China’s markets were among the few losers in the region today. Europe’s Dow Jones Stoxx 600 recovered yesterday’s losses in...

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FX Daily, February 18: Apple’s Warning Weighs on Sentiment

Swiss Franc The Euro has fallen by 0.11% to 1.0613 EUR/CHF and USD/CHF, February 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Apple’s warning that it will miss Q1 revenue due to the knock-on effects of the coronavirus seemed to be a modest wake-up call to investors, who, judging from the equity market, were looking beyond. Equities have fallen, and bonds have rallied. Japan, Hong Kong, and South Korean...

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