July 2020 - Payments International Inc.

Published On - July 31, 2020

Friday July 31st, 2020

Weak US economic data, stimulus uncertainty and surging coronavirus cases are the key factors driving the US$ weaker. Yesterday’s Q2 US GDP result was the weakest quarter since the great depression, which caused the US$ to extend its selloff. The US$ in now on-track for its biggest monthly dec...

Published On - July 30, 2020

Paul Harrison

Currency Markets Review – July 30th, 2020

Markets stabilize after they initially slump following the record decline in the US GDP, surging COVID-19 cases and the suggestion to delay the U.S election. U.S GDP recorded its largest decline in output since the great depression showcasing the past 3 months of lockdown. The virus continues to i...

Published On - July 30, 2020

Paul Harrison

Thursday July 30th, 2020

Ongoing US Fed Reserve support, US Stimulus progress stalled, and surging US coronavirus concerns dominate the headlines. The US Fed Chief says that the coronavirus surge is slowing the US’s economic recovery efforts and promises the Fed’s continued support. The total US coronavirus cases hit +4...

Published On - July 29, 2020

Paul Harrison

Wednesday July 29th, 2020

US$ index tests a fresh 2-year low, equity markets are mixed and Oil & Gold markets strengthen ahead of the US FOMC rate decision today. The US FED is expected to keep interest rates on hold, while expected to give a more pessimistic assessment for economic growth in the US in their statement. U...

Published On - July 28, 2020

Paul Harrison

Tuesday July 28th, 2020

The US$ index rebounded from a two-year low as markets consolidated ahead of the FOMC two-day meeting. The FOMC meeting gets underway today, where the central bank is widely expected to leave monetary policy unchanged when it makes its announcement on Wednesday. Ahead of the FOMC, Asian & Europe...

Published On - July 27, 2020

Paul Harrison

Monday July 27th, 2020

Surging coronavirus cases, fresh quarantine restrictions and Sino/US tensions continue to dominate market headlines. With virus cases approach 16 ½ million globally (1-million new cases 4-days) and 2nd wave fears prompting the UK to announce new quarantine rules for travelers returning from Spain....

Published On - July 24, 2020

Paul Harrison

Friday July 24th, 2020

Geopolitical concerns and the ongoing surge in new Covid-19 cases is causing risk sentiment to wane. In China’s anticipated response to the closure of its Houston consulate, it ordered the closing of the US consulate in Chengdu. The escalating Sino/US tensions saw equity markets weaken, safe haven...

Published On - July 23, 2020

Paul Harrison

Currency Markets Review – July 23rd, 2020

Markets move into “risk off” territory amid rising covid-19 cases, weak US jobs data and on-going Sino/US tensions. US covid cases surpass 4 million as they accumulate 2,600 new cases every hour. US jobless claims add 1.4 million new claims surpassing expectations. Equity markets and oil p...

Published On - July 23, 2020

Paul Harrison

Thursday July 23rd, 2020

Investors ignore Sino/US tensions and the accelerating covid-19 cases in the US, but instead focus on the EU and US stimulus packages. China is expected to retaliate against the Houston consulate closing, which is the latest in a slew of escalating clashes between the US and China. US coronavirus ca...

Published On - July 22, 2020

Paul Harrison

Currency Markets Review – July 22nd, 2020

Markets end the trading day mixed with investors conflicted between escalating Sino/US tensions and rising Covid-19 cases versus expected EU and US stimulus. The US gives China 72 hours to close its consulate in Houston. Markets now await the Chinese response as they have assured “firm count...