Daily Market Commentary

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Thursday September 24th, 2020

Risk off sentiment continues as global economic concerns drives US$ to multi-month highs. The Fed Vice Chair and the Cleveland Fed Bank President both stated that the US economy remains in a “deep hole” and renews calls for more fiscal stimulus. In Washington the political deadlock continues, an...
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Wednesday September 23rd, 2020

Currency markets remain under pressure, testing multi-week lows as risk aversion sentiment prevails. Sino/US tensions continue with The China Daily newspaper article today saying China has no reason to approve the “dirty and unfair” deal based on “bullying and extortion” talking about the Dy...
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Tuesday September 22nd, 2020

The US$ strengthened to six-week highs overnight as investors exited risker currencies over second-wave coronavirus fears and increased lockdown restrictions across Europe/UK. The US$ index gave up some of its overnight gains at the start of the North American session vs a basket of major currencies...
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Monday September 21st, 2020

Risk-off sentiment returns as rising COVID-19 cases unnerve investors causing equity and currency markets to weaken. Global covid cases surpassed 30mio over the weekend increasing fears of new EU & UK lockdowns restrictions. Global equity markets fell on economic recovery fears if new lockdown r...
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Friday September 18th, 2020

The US$ rebounds from its overnight lows as focus shifts to consumer sentiment report and US stimulus relief updates. Reps/Dems appear to be making some progress towards a new Coronavirus relief package, but a near-term deal still seems unlikely with each side having little incentive to compromise a...
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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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