The Federal Reserve (Fed) announced on Monday to enlarge its scope of asset purchases, now including corporate debt under its Secondary Market Corporate Credit Facility...
In the FX, stronger demand in US treasuries and the dollar should lead to a decent profit taking in most majors which have surfed the weaker USD wave over the past weeks. Having pulled out the minor 23.6% Fibonacci retracement on April – June rise, the EURUSD could extend weakness to 1...
The rising anxiety that the second wave of Covid-19 is about to hit the global economy is weighing on the market mood at the start of the week...
WTI crude slipped below $35 per barrel as oil investors scaled back their expectation of improved demand on rising risk of a renewed halt in global economic activity. The barrel of WTI found buyers near the 100-day moving average ($34.70...
US equities recorded the worst single-day sell-off since April on rising fears that a second wave of Covid-10 contagion would push the economies to shut down again. The Dow Jones slumped 6.90%, as Nasdaq erased 5.27% respectively at the close. The S&P500 (-5.89%) hit the critical 3000 support...
The US dollar index jumped in Asia after hitting the 96-support, as the US 10-year yield retreated to 0.70% on the back of a swift move to safety. The USDJPY slumped below 107.00, as the Swiss franc traded at its strongest level since March as investors moved capital towards safe-haven currencies...
Investors’ worst nightmare becomes reality with news of a second wave of contagion hitting the wires in the US. According to Bloomberg, Florida reported the highest number of new cases in a week and hospitalizations in Texas surged by a record 6.3...
US stock indices paused their impressive rally on Tuesday, as energy stocks led losses on speculation that Chesapeake Energy plans bankruptcy and the idea that other gas and energy companies could go down the same road as a result of severely distressed level of debt amid last months’ historical...
The US dollar remains weak, but the capital outflows appear to be losing some pace as investors question whether it is time for a downside correction in equities. The US 10-year yield remain capped below 0.90...
US equities extended rally yesterday. The S&P500 (+1.20%) rose to a fifteen-week high, reversing most of post-Covid sell-off. Despite real damage to businesses and economy, the US stocks are set to continue their pre-Covid race to fresh historical highs...
The global risk rally was boosted on Friday by surprise increase in US nonfarm payrolls, talks of a merger between two pharmaceutic giants, AstraZeneca and Gilead fighting against the coronavirus, and the agreement among the OPEC+ countries to extend the historical production cut by a month...
In Europe, however, more monetary stimulus gave a decent boost to the single currency. Though the worse-than-expected slump in German factory orders triggered a soft kneejerk sell-off this morning...
There is finally some questioning among investors that the latest equity rally may have gone too far and a part of gains may be unfounded due to weak economic data, rising political unrest in US and Hong Kong and tenser trade relations between the US and China...
In the currency markets, the US dollar is better bid against its major counterparts. The latest US dollar rebound is more of a correction of past week’s sharp losses than a trade for safety. The EURUSD consolidates gains above the 1...
Tensions between the US and China escalate as China blocks American shippers from reentering China and Donald Trump suspends Chinese airline passenger flights to the US...
In the US, the ADP employment figure is expected to reveal an additional 9.5 million job losses during last month – much better compared to April’s 20 million decline, but still very much worrying for the health of the US labour market...
Chinese services PMI printed the first extension since January and the fastest since October 2010, the Australian GDP contracted 0.3% in the first quarter, slightly less than -0.4% penciled in by analysts and the US oil inventories fell 500’000 barrels last week according to the API data...
The trading week started on a mostly positive note, despite the growing tensions between the US and China, rising political unrest in the US following George Floyd’s death and mounting pressure from Facebook employees on company’s inaction faced with President Trump’s comments...
