Wed, Sep 30, 2020 @ 23:59 GMT
USDHKD has continued flirting slightly below 7.85, the weak end of its trading band. Since late-February, the market has been speculating about what and when the Hong Kong Monetary authority HKMA, the de facto central bank of Hong Kong,...
Volatility in USDHKD has increased since last week. HKD fell from the strong-side convertibility undertakings against USD after the Chinese Communist Party (CCP) announced the plan to impose national security law in the city. The 12-month HKD FX swap...
Euro ended last week as the weakest one as comments from a top ECB official suggested a forceful easing package to be announced in September. Additionally recession fear in Germany sent 10-year bund yield to new record low. New...
Dollar surged broadly last week as Fed policymakers finally made up their mind on hiking a total of four times this year, as reflected in the new projections. The greenback was also helped by ECB monetary policy decision, with...
The latest set of macroeconomic data suggests that the pace of recovery in China remained slow, as a result of flooding and second wave of coronavirus outbreak. Improvement industrial activities decelerated, while retail sales continued to shrink. Weak domestic...
Looking through all the financial market news last week, the message was rather unified. That is, 2019 will be a year of slowdown, globally. Economic data, central banks, governments and independent organizations are all reinforcing this message. While ECB's...
Dollar tumbled sharply, and broadly last week as markets perceive Fed's adoption of average inflation targeting as a dovish move. Nevertheless, selloff were mainly against commodity currencies and, to a lesser extent, Sterling. The greenback ended in range against...
Yen ended last week as the weakest one as the global markets were in full risk on mode. DOW finally made a new record high, together with S&P 500 and the strength is not limited to the US. Nikkei...
Yen is making a come back in Asian session today. The reaction to the Syria strike was muted. But risk aversion comes back with selloff in Chinese and Hong Kong stocks. Nikkei is maintaining slight gain of 0.25% at...
On March 26, China launched its, and also the world’s, first renminbi-denominated crude oil futures. The debut appeared successful with 20M barrels of oil changed hands on average in each of the first two trading days. This represents 3%...
The upcoming FOMC meeting aims at preparing the market for changes in the monetary policy in September. At the meeting this week, the Fed will keep its policy measures unchanged at this week’s meeting, i.e., the Fed funds rate...
Dollar ended last week as the strongest one as markets put China's coronavius behind. Instead, strong risk sentiments lifted major US indices to new record highs. Friday's pull back was likely due to pre-weekend profit taking only. Latest batch...
Dollar ended as the strongest major currency last week, largely thanks to late buying before weekly close. It remains to be proved whether that was due to month end flows. But somewhat receding risk of US-China decoupling and expectations...
Yen and Dollar closed the week generally lower on strong risk appetite. There was some sort of optimism over US-China trade negotiations throughout the week. And that helped DOW and China SSE extend recent rally. DOW closed above 26000...
The financial markets are pretty quiet as another week starts. Despite positive news regarding Korean peninsula, major Asian indices are trading slightly lower. At the time of writing, Nikkei is down -0.28%, HK HSI is down -0.66%. In the...
Expectations setting were rather well set for the highly anticipated Trump-Xi meeting at G20. Both sides agreed to stop raising tariffs further. But it's unsure whether they've closed the huge gap that led to collapse in trade negotiations. If...
The topic of negative central bank interest rates was a key driver in the forex markets last week. Dollar ended as the strongest one against a chorus of Fed officials expressed their objection. New Zealand Dollar, on the other...
Recent spike in HIBOR has sent HIBOR-LIBOR spread to the positive territory, a situation not seen in a decade for both 1-month and 3-month spreads. In our opinion, the upside for HIBOR is limited although it could stay elevated...
While Euro remains the worst performer for today, selling slowed and it recovered much ground as in early US session. Investors seemed to be calmed by Five Star leader Di Maio's facebook comment that he never see leaving the...
Dollar ended broadly higher last week as boosted by surge in treasury yields. 10 year yield finally completed its consolidation that started back in February, and rose through 2.943 high to close strongly at 2.951. That came with the...
- advertisement -