Daily Market Commentary

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Friday April 3rd, 2020

After a volatile week which has seen US Jobless claims hit a record 6.6mio, coronavirus cases breach +1 million and related deaths totaled +54k. US$ index against a basket of major currencies rallied +4% as investors return to US$S safe haven buying. Talk of a truce between Russia & Saudi Arabia...
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Thursday April 2nd, 2020

Markets are bracing for the release of the US weekly jobless claims which is expected to set a new record high. With US virus cases surpassing 216k and more than 80% of American’s under some form of lockdown, new jobless claims are expected to surpass 3.5mio. US$ index has fallen slightly vs a bas...
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Wednesday April 1st, 2020

Global markets start April on a bearish tone following stark predictions of rising virus deaths and fears of increased economic damage from the coronavirus pandemic. On expectations that virus cases will exceed 1 million this week, investors are retreating back to the safe haven of US$. US$ index ra...
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Tuesday March 31st, 2020

Chinese manufacturing and service PMI data released today both beat expectations signaling signs of recovery. Equity markets have started the day in positive territory but are set to post their worst quarter since 2002. US$ index continues to strengthen vs a basket of major currencies. Asian currenc...
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Monday March 30th, 2020

Over 110 counties have instigated travel and movement restrictions, with +1bln people globally under some form of lockdown restrictions. Global virus cases are approaching 750k, global related deaths hits +34,830 with +800 reported today. US$ index firmed almost 1% vs major currencies after the US e...
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Friday March 27th, 2020

A volatile week for the US$ which is on track for its biggest weekly fall in a decade. The combination of FED’s QE measures, the leap in US virus cases and the highest weekly surge in US Unemployment claims on record added pressure to US$. The US House of Representatives votes on the US$2-trillion...
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Thursday March 26th, 2020

The US Senate passes $2-trillion stimulus package, which now moves to the House of Representatives for a vote on Friday. The US$ index continued to fall for a 4th consecutive day vs a basket of major currencies. Investors have pulled back from the US$ ahead of the US Initial claims data this mo...
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Wednesday March 25th, 2020

The US Senate and the WH administration have reached an agreement on a $2-trillion package, the largest rescue package in American history. The Senate and the House of Representative are both expected to vote on the stimulus package today. The combination of $2-trillion package, alongside the Fed&#8...
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Tuesday March 24th, 2020

Yesterday, in a coordinated effort to stabilize financial markets the US Fed announced unlimited Q.Easing and Germany announced Euro 750bln stimulus package. Markets are initially responding positively with European equities stronger and oil up 4% in early trading. The US$ index fell 1% boosting wea...
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Monday March 23rd, 2020

Equity and commodity markets have opened weaker this morning on rising fears that current global stimulus isn’t enough to offset the economic impact from the coronavirus. Global virus cases grew to +340k, with the US having the 3rd largest number of virus cases at +35k, global deaths approach ...
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