Daily Market Commentary

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Friday July 3rd, 2020

Markets remain conflicted between COVID recovery vs COVID second wave fears. Global equity and oil markets eased while currency markets remain stable with the US markets closed today in observance of US Independence Day. Thursday’s record NFP showed the US economy created 4.8mio jobs boosting hope...
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Thursday July 2nd, 2020

Vaccine, face masks and falling US unemployment hopes have all helped to boost a fresh risk-on sentiment. Pfizer and BioNTech have both reported promising results in recent first trial COVID-19 vaccines and are ready for mass production if they are successful. The US President appears to have endors...
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Wednesday July 1st, 2020

Markets remain conflicted between the positive signals of economic recovery out of the US, Europe and China vs second wave fears of the coronavirus. German retails sales, Chinese PMI and yesterday’s US consumer confidence all met or surpassed expectations. In the US which recorded another record n...
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Tuesday June 30th, 2020

Investors appear to be torn between growing second-wave fears and the positive recovery signals from recent data releases. Upbeat US home sales and Chinese factory data provided investors optimism about the global economic recovery. The optimism is being offset amid rising coronavirus cases with rec...
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Monday June 29th, 2020

Markets are starting the week off mixed with European equity markets up, US$ index & oil prices lower as Covid-19 continues to dictate investor sentiment. Global coronavirus cases hit +10mio and global deaths surpassed 500k, amid rising new cases across the US, Latam and South Asia. Chinese lawm...
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Friday June 25th, 2020

Markets showed some signs of optimism this morning with both equity and oil prices rising despite the growing number of covid-19 cases globally. The US had its single worst day of new covid-19 cases with +37k reported yesterday as 30 states reported a rise in new daily cases. Globally there are 9.7m...
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Thursday June 25th, 2020

The ongoing surge in coronavirus cases and the IMF’s downgraded economic forecast yesterday saw investors return to safe haven buying. Markets are opening up relatively unchanged from yesterdays close with global equity and oil markets slightly down and US$ index up marginally vs a basket of major...
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Currency Market Review June 24th, 2020

Coronavirus news dominated the headlines as global cases continue to rise along with a somber report on global markets from the IMF as a result of the Covid-19 pandemic. The Canadian dollar came under renewed selling pressure with falling oil prices, coronavirus, an the announcement that Fitch down...
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