Overview: The capital markets are decidedly mixed today as investors are pulled between rising infections, heightened tensions between the US and China, lack of progress on new US stimulus, and technical forces as the new month begins. Asia Pacific equities were mixed though the Nikkei gained more than 2%, aided by the yen’s slump ahead of …
Stronger EMU PMIs Fail to Recharge the Euro’s Upside Momentum Read More »
Overview: Global equity markets are stabilizing today, and the dollar is once again on its back foot. Chinese markets led a mixed regional performance with a 2%-3% gain, while South Korea and Hong Kong markets also advancing. The strength of the yen appears to weigh on Japanese shares. The Nikkei fell for the fourth consecutive …
Overview: The main development in the capital markets today is the firmer dollar against nearly all the major and emerging market currencies. Among the majors, the New Zealand dollar and Swedish krona are the heaviest (~-0.4%), while the Swiss franc and yen are marginally lower. In the emerging market space, the liquid and accessible currencies, like …
Dollar Bounces, Gold Slips, while Equities Hold Their Own 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: The combination of rising virus cases and the sell-off in the US before the weekend dragged nearly all the Asia Pacific bourses lower. The Nikkei led the way with more than a 2% drop, but most bourses were off more than 1%. China and Taiwan were also greeted with selling as markets re-opened from …
Overview: The spread of a new respiratory illness in China has spurred a wave of profit-taking in equities and risk assets more generally. All of the markets in the Asia Pacific region tumbled, with Hong Kong hit the hardest (-2.8%) after posting a key reversal yesterday. The sell-off continued in Europe. The Dow Jones Stoxx …
New Respiratory Illness Saps Risk-Taking Appetites Read More »
Overview: Fading hopes that a Brexit agreement can be struck is seeing sterling trade broadly lower, while China’s demand that US tariffs be rescinded in exchange for a commitment to buy $40-$50 bln of US agriculture goods over two years, makes the handshake agreement less secure. At the same time, Hong Kong is becoming another front …