Overview: Dollar demand linked to the month-end gave the greenback a bit of a reprieve, helped by firmer bond yields. Some momentum players may have been forced out of the euro and yen when the $1.22 and JPY109 levels yielded. However, follow-through dollar buying has been limited, and it has come back a little softer …
Narrow Ranges in FX Prevail Amid Month-End Considerations Read More »
Overview: The recovery of the US 10-year yield, so it is flat on the week near 1.61% coupled with month-end demand, is helping the US dollar firm. While the yen is bearing the burden on the week, with a 0.8% loss, the Antipodeans are leading the downside on the day. Although the New Zealand dollar …
Overview: Dollar demand linked to the month-end gave the greenback a bit of a reprieve, helped by firmer bond yields. Some momentum players may have been forced out of the euro and yen when the $1.22 and JPY109 levels yielded. However, follow-through dollar buying has been limited, and it has come back a little softer …
Narrow Ranges in FX Prevail Amid Month-End Considerations Read More »
Overview: The recovery of the US 10-year yield, so it is flat on the week near 1.61% coupled with month-end demand, is helping the US dollar firm. While the yen is bearing the burden on the week, with a 0.8% loss, the Antipodeans are leading the downside on the day. Although the New Zealand dollar …
Overview: Asia Pacific equities rallied after the US shares rallied with the Nasdaq reaching record highs after it and the S&P 500 gapped higher yesterday. Japan and Hong Kong led the rally with more than 2% gains, while the Shanghai Composite lagged with about a 0.1% gain. However, the momentum did not carry into Europe, …
After a lull in important economic data and major central bank meetings, the calendar picks up next week. The highlights include the US and EMU’s first estimate of Q2 GDP, the FOMC meeting, and China’s July PMI. Investors may be informed by these developments, but they are unlikely to change the investment climate, which is …
Overview: Profit-taking, perhaps spurred by disappointing retail sales figures, sent Chinese equity markets down by 4.5%-5.2% today, the most since early February. It appears to be triggering a broader setback in equities today. The Hang Seng fell 2%, and most other markets in the region were off less than 1%. India was bucking the trend …
Equities Slide and the Greenback Bounces After China’s GDP and Before the ECB Read More »
The economic calendar and central bank meeting diaries are busier in the week ahead. The highlights include three G7 central bank meetings (the Bank of Japan, the Bank Canada, and the European Central Bank), Chinese Q2 GDP, and the first look at US July survey data (Empire and Philadelphia Fed). The US also reports June …
Macro Dynamic Remains the Same but the Calendar gets Busy Read More »
Overview: The gains in US equities yesterday carried into Asia Pacific trading today, but the European investors did not get the memo. The Dow Jones Stoxx 600 is succumbing to selling pressure and giving back yesterday’s gain. Energy and financials are the biggest drags, while real estate and information technology sectors are firm. All the …
Overview: Given the huge run-up in risk assets this quarter, and the technical indicators warning of corrective forces, concerns over the new infections is pushing on an open door. The S&P 500 gapped lower yesterday and fell 2.6%, led by energy and airlines. The NASDAQ snapped an eight-day rally. Follow-through selling in the Asia Pacific region …
Contagion Growth and Calendar-Effect Saps Investor Enthusiasm Read More »