Daily Market Commentary

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Wednesday June 24th, 2020

Investors turned cautious as coronavirus cases continue to increase across the US, China, Latam and India. Global coronavirus cases are expected to pass 9.4mio today, with 2mio new cases reported in just the last 14 days, and in the 23 US states seeing a surge in new cases this week. Investors unner...
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Tuesday June 23rd, 2020

The “Recovery Rally” continues with equity and oil prices firmer and US$ index remaining under pressure vs a basket of major currencies. Positive PMI data out of Europe and the UK have helped currencies extend their rallies. Markets dipped in early Asian trading after a White House adviser said ...
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Monday June 22nd, 2020

New virus fears concern investors with the WHO reporting the single largest day of new covid-19 cases on Sunday. The WHO reported a record 183,030 new cases of COVID-19 in a 24-hour period with increases spiking in South America and the US. Gold hit a 1 month high, oil prices steadied, US$ weakened ...
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Friday June 19th, 2020

Geopolitical risk and second wave fears are offsetting the positive signs of economic recovery as investors adopt a risk-off sentiment.  US$ ends the week slightly stronger vs a basket of major currencies as safe haven buying emerged. Sino/US tensions persist as the US President renewed his threat...
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Thursday June 18th, 2020

The market sentiment remains somewhat pessimistic as rising coronavirus concerns are outweighing the economic recovery optimism. China and the US are both experiencing a rise in covid-19, with analysts projecting that the US death toll could rise to 200,000 by October. US/Sino tensions remain high a...
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Wednesday June 17th, 2020

Tuesday’s positive US retail sales data was quickly offset by the US Fed Chairman’s somber view of the US economy. Adding to the investor concerns is the rising Covid-19 cases within the US & China and clashes between China & India in the western Himalayas. Global currency markets respon...
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Tuesday June 16th, 2020

Monday’s stimulus driven rally had a positive knock-on effect to global equity and currency markets. The US Fed announced yesterday that it would start a corporate bond buying scheme, and coupled with a proposed US$1 trillion infrastructure plan boosted investor confidence and rallied global m...
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Monday June 15th, 2020

Oil and Equity markets fall, and currency markets are mixed with fears of a coronavirus second wave prompting a “risk off” sentiment. Global coronavirus cases surpassed 8mio with related deaths increasing over 435k. A second wave of infections in Beijing is prompting authorities to reinstates co...
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Friday June 12th, 2020

A calm has somewhat returned to the market’s after yesterday’s “risk off” routing of the equity and currencies markets amid fears of a second covid-19 wave in the US and pessimism from the Fed’s statement. Equity and currency markets have rebounded from their overnight lows and are cautiou...
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Thursday June 11th, 2020

The US Federal Reserve’s projected that the US economy would shrink 6.5% and unemployment was set to reach 9.3% at the end of 2020 sending a sobering message to the markets. Equity and oil markets weakened in response to the Fed’s comments, with MSCI world stocks index seeing its biggest fal...
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