Monthly Archives: April 2020

Thursday April 30, 2020

The Federal Reserve left its policy rates unchanged yesterday and pledged to do whatever is necessary, which put additional pressure on the US$. The Fed Chair in his comments sent a sobering message on the potential longer-term impact from the virus. Yesterday’s devastating US GDP number has s...
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Wednesday April 29th, 2020

The US$ continues to weaken heading towards a 2-week low ahead of the Federal Reserve meeting today. The Federal Reserve announces its rate decision today, expectations are that rates will remain unchanged. The Fed is unlikely to make any major policy moves today having pledged trillions in emergenc...
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Tuesday April 28th, 2020

Global equity and currency markets strengthen as lockdown restrictions are easing across parts of Europe, Asian and North America, boosting global risk sentiment. The US$ index vs a basket of major currencies eased 0.4% as investors diversify from the safe have US$. Investors focused on JPY, AUD, NO...
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Monday April 27th, 2020

The combination of easing of global lockdown restrictions & increased global stimulus saw investors shift away from safe haven US$ today. The announcements that Europe and NY State will begin easing lockdown restrictions in early May gave investors renewed “Risk-On” confidence. Coron...
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Friday April 24th, 2020

The US$ index continues to strengthen after a week of disappointing global economic data releases, high volatility in the oil markets and the inconclusive results on a treatment for Covid-19. EU leaders fail to reach consensus on a stimulus package and speculation is that they are still weeks away f...
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Thursday April 23rd, 2020

Oil prices rebound +10% as tensions between US & Iran grow and output cuts begin. US$ index vs a basket of major currencies is relatively flat. Petro currencies rebounded with NOK and RUB both +0.75% vs US$. Asian AUD & NZD currencies strengthened marginally as Oil rebounded as sense of calm...
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Wednesday April 22nd, 2020

Oil prices continue to dominate the headlines with Brent Crude hitting 21-year lows on lower demand and diminishing storage capacity. The US Senate approves $480 billion stimulus package focused on small business, hospitals & expanding testing. The stimulus vote moves to the House for their vote...
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Tuesday April 21st, 2020

As Coronavirus cases reach 2.5 million globally and the economic reality of global lockdowns saw crude futures suffer their worst day in history. The coronavirus-induced oil supply surplus caused oil prices to crash with US crude futures trading below $0 yesterday for the first time on record. The N...
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Monday April 20th, 2020

China and the US are both expected to announce fresh stimulus packages this week, while EU leaders remain divided on stimulus requirements. China Q1 fiscal revenues fell 14.3% YoY attributed to the coronavirus & tax relief benefits. Republicans and Democrats are nearing an agreement on further ...
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Friday April 17th, 2020

The US President announced plans for a gradual re-opening of the US economy yesterday which helped offset the news of China’s worst Q1 GDP on record. China reported today that Q1 GDP fell 6.8% YoY, its weakest quarterly performance since 1992 and the worst Q1 on record. Chinese retail sales also f...
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