LONDON — Thursday was another day of erratic FX price action. The USD ground lower with the DXY more than reversing its move higher in the Asian session. EURUSD touched a low of 1.1737 in the Asian session before reversing up to around 1.1850 as the (...)
LONDON — As we feared, historically September is a volatile month for equities, and this was further emphasized Thursday. Equities were up for most part of the day only to get hit hard later on and gave back the majority of the rally. The lows now (...)
LONDON — US equities have extended their weakness with the S&P falling 2.8 per cent and NDX crumbling by 4.8 percent (a greater than 2 standard deviation move and now down around 10% since last Wed). All sectors finished in the red, though the move (...)
LONDON — The risk complex traded sharply lower yesterday, as investors ignored an encouraging weekly jobless claims report (881k vs exp 950k) and mostly in-line ISM non-manufacturing index (56.9 vs exp 57.0), to instead reduce risk ahead of the US (...)
LONDON — Risk turned lower in the US and again in Asia. The US stimulus package seems a bit vague and could skip a payroll tax cut. Also, the virus numbers continue to be precarious in the US. There was a lot of unhelpful tech news: disappointing (...)
LONDON — The S&P finished the day up again Wednesday for the 4th consecutive day albeit in a more subdued session. The market seems to be focused on vaccine and stimulus hopes for now. The Democrats have said that they will not back short-term (...)
Reflation trades reigned supreme Tuesday with a strong performance in Australian dollar despite US equities finishing modestly higher (S&P +0.2%, while NDX down 1.1%). AUD was leading the way, encapsulating a pure FX and commodity move as nominal US (...)
LONDON — Tepid risk sentiment prevails at the start of the week with global COVID-19 news going head to head with more corporate earnings reports. Chinese equity indices have seen a strong start with CSI300 +2.55%, Shanghai Composite +2.62% and (...)