Daily Market Commentary

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Friday December 4th, 2020

The US$ index remains under pressure, down 1.4% in December and down 7% YoY, with analysis predicting further US$ weakness into 2021. Risk on sentiment remains as US stimulus optimism grows as GOP support builds for the proposed US$ 908bln in relief. Ahead of a vaccine approval in the US the Califor...
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Thursday December 3rd, 2020

Safe haven US$ continues under pressure amid US fiscal stimulus hopes and vaccine approval optimism. The US$ drops to multi-year lows as risk on sentiment continues to surge as investors expect the US to approve a vaccine for rollout in 2020. Adding to the risk on sentiment positive progress is bein...
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Wednesday December 2nd, 2020

The US$ selloff stalls amid vaccine rollouts, US stimulus talks and Sino/US trade stability. The US$ bounces slightly off its 2 ½ year lows as markets steady and trade related currencies lose steam. The US Treasury Secretary & House Speaker Pelosi held stimulus talks for time since Nov 3rd, wit...
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Tuesday December 1st, 2020

Vaccine optimism, strong Chinese PMI data and US stimulus hopes see the US$ index drop to its lowest level since April 2018. Vaccine optimism continues as Pfizer joins Moderna in seeking EU emergency approval for its COVID-19 vaccine, with hopes of a targeted rollout in December. Expectation is also...
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Monday November 30th, 2020

The US$ hits 30-month lows amid growing risk-on sentiment boosted by US election transition stability and ongoing vaccine optimism. Moderna set to file for US and EU clearance for its COVID-19 vaccine. Chinese PMI data today showed China’s economy grew at its fastest pace in 3-years, boosting risk...
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Friday November 27th, 2020

US$ remains under pressure as vaccine and US transition optimism drives risk-on sentiment. AstraZeneca eyes extra global vaccine trials as questions mount over its current results, while the UK moves to get the vaccine approved before the EU. The US President said he will leave the White House if Pr...
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Thursday November 26th, 2020

US markets are closed for the thanksgiving holiday. The US$ remains weak, equity & oil markets are down, while currency markets retreat from monthly highs. The US$ remains under pressure after the FOMC Minutes hints to expect more QE and the US Jobless claims rose again. Surging covid cases acro...
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Wednesday November 25th, 2020

The US$ consolidates, equity markets ease, while oil prices extend gains ahead of the US Thanksgiving holiday. Risk on appetite remains as the US Presidential-Election transitions smooths out and key cabinet members are named. Equity & currency markets drop slightly as markets take some profits....
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Tuesday November 24th, 2020

Equity, oil and currency markets extends their gains on the Biden transition news and vaccine optimism. The US President authorized the General Services Administration to facilitate the transition to President-elect Biden. Janet Yellen former chair of the Fed is Biden’s pick to become the new Trea...
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Monday November 23rd, 2020

The US$ index falls to 2 ½ years lows as vaccine optimism dampens US$ safe haven demand. AstraZeneca-Oxford joins Pfizer and Moderna today when it announced its vaccine can be 70% to 90% effective. Equity, commodity and currencies extend their gains on the vaccine news. In the US virus hospitalizat...
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