Daily Market Commentary

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Currency Markets Review – July 16th 2020

The US$ gains, equity markets and oil prices slide as the continuous spread of the coronavirus initiates a “risk off” sentiment despite stronger than expected US data.  Covid-19 cases in the US continue to rise adding pressure to the US economy as businesses enter a second round of lockdown...
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Thursday July 16th, 2020

Global “risk on” mood sours as investors focus on weak Chinese retail sales and as pandemic concerns rise. Mixed data out of China this morning with better than expected GDP results but investors focused on weaker-than-expected Chinese retail sales data, highlighting that consumers remai...
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Wednesday July 15, 2020

Global equity markets strengthen, Euro hits four-month highs and trade related currencies strengthen on vaccine hopes. An experimental vaccine from US company Moderna which has provoked safe immune responses in early-stage studies gave investors fresh confidence and boosted markets. Sino/US tensions...
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Currency Markets Review – July 14th 2020

US$ edges slightly lower during a mixed trading session which saw North American equity markets strengthen, oil and gold prices remain flat. Quarterly earnings season saw three of the US’s largest banks set aside $28 billion in loan loss provisions and all predicted more economic pain to come from...
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Tuesday July 14th, 2020

US$ buyers reemerge as California and other US states announce new lockdown restrictions in a bid to tackle rising covid-19 cases. Equity and oil markets start the day lower on virus concerns and China posts better than expected trade data. Positive trade data out of China as it posts its first impo...
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Monday July 13th, 2020

Markets start the week mixed with equity & gold markets stronger, oil prices lower and US$ index slightly down verses a basket of major currencies. Investor focus has shifted to the corporate earnings as equity markets near a 5-month peak and the prospect of further rounds of stimulus. Sino/US t...
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Friday July 10th, 2020

The coronavirus resurgence fears continue to impact markets, with Australia ordering new lockdown restrictions in Melbourne and in the US +60,500 new cases were reported on Thursday setting a new daily record. Global cases are approaching 12.5mio with the US (@25%), Brazil, India and Russia combined...
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Thursday July 9th, 2020

US$ consolidates after a volatile Wednesday trading session which saw equity markets drive risk on sentiment. Yesterday Fed Reserve officials raised doubts about the sustainability of the US recovery, as business surveys showed developing risks from the ongoing coronavirus pandemic. The rush to equi...
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Currency Markets Review – July 8th, 2020

A volatile day that saw the Canadian budget forecasted to hits its largest shortfall since WW2, the FED suggesting the US economic recovery is stalling and the NASDAQ hits an all-time high. Mixed market signals saw the US$ index fall vs a basket of major currencies. European equities closed lower wh...
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Wednesday July 8th, 2020

Markets stall as positive economic data is offset by rising COVID-19 cases and ongoing Sino/US tensions over Hong Kong. Global virus cases are approaching 12mio, as 2nd-wave fears mount with rising cases in the US, Australia, India and parts of Europe causing lockdowns to be re-established. The Fede...
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