All posts by Paul Harrison

Thursday September 17th, 2020

Currency markets slip after the markets digested yesterday’s US central bank’s policy statement. The FOMC statement said it sees a long road to maximum employment, expect interest rates to remain low until 2023, upgraded its GDP forecast of achieving pre-pandemic levels from 2022 to 2021. Th...
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Wednesday September 16th, 2020

The US$ fall continues ahead FED statement where it is anticipated to raise its economic expectations and vow to keep rates low until at least 2023. At its last FOMC meeting before the election, the FED is expected to keep rates on hold and may increase its bond-buying program to support the US reco...
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Tuesday September 15th, 2020

Optimistic Chinese data and vaccine hopes increased risk-on sentiment rallying markets. The Chinese Industrial production data and Retail Sales data both exceeded expectations and provided an upbeat economic picture of China’s recovery efforts. A Chinese company announced it hopes to be able to di...
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Monday September 14th, 2020

Renewed vaccine hopes, risk-on sentiment increases, Sino/US tensions remain and US$ under pressure ahead of the FOMC. Positive news on the vaccine front with AstraZeneca resuming its Phase-3 trials and Pfizer is also gaining traction saying it hopes to provide immunization doses by the end of the ye...
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Friday September 11th, 2020

The US$ weakens, Sino/US tensions increase, election cyberattacks, and markets await US CPI data for fresh impetus. China’s foreign minister says he adopted reciprocal restrictions on staff from US Embassy and consulates in Mainland and Hong Kong. The US President said he will not extend the S...
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Thursday September 10th, 2020

The US$ weakens ahead of the ECB rate decision, on US election rhetoric and ahead of US data out this morning. A primary focus of the markets will be the ECB rate decision out at 7.45 EST, as well as possible comments from the ECB president on concerns over a strengthen Euro. The US president [&hell...
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Wednesday September 9th, 2020

The global “risk-off” mood continues with stalled US fiscal stimulus, paused vaccine trials and the rising Sino/US tensions. US fiscal stimulus appears to have taken a step backwards as Reps lowered the amount of proposed stimulus to US$500-700 bln with Dems responding its “an insult to Americ...
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Tuesday September 8th, 2020

US$ stronger, commodity and equity markets weaker as risk-off mood returns to the markets. The US President’s comments on Monday which raised the idea of decoupling the US & Chinese economies. The NY Times also reported that the US is also considering banning some or all products made with cot...
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Friday September 4th, 2020

A volatile Thursday which saw a bout of risk aversion helping to rallying the US$, but crushing US tech-stock. The US$ is set for its biggest weekly gain since June, up 0.7% vs a basket of major currencies in September. Global currency markets for the most part consolidated off yesterday’s lows as...
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Thursday September 3rd, 2020

Worried central bankers, vaccine hopes, falling oil prices and a firmer US$. The sharp fall in the US$ value in August raised concerns from some central banks, including the ECB and China’s PBOC watching a weakening US$ which could impact their exports, lower prices and possibly increase the need ...
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