Mon, Nov 18, 2019 @ 07:06 GMT
The financial markets were like in parallel universes last week. On the one hand, US stocks were boosted by trade optimism as the three major indices ended at record highs. On the other hand, Hong Kong stocks led Asian...
Trade optimism was the main theme driving the financial markets last week. Investors seemed to be convinced that US and China are close to signing trade agreement phase one, even though it's unsure when and where yet after the...
With US-China on track to phase one trade deal, and UK preparing for December election, focus turned back to economic data and central banks last week. In particular, Canadian Dollar ended as the worst performing after BoC's surprise dovish...
Canadian and US Dollars ended last week as the strongest ones. It now appears that US and China are on track to complete the easier phase 1 trade deal in November. Optimism lifted stocks as well as oil prices,...
Sterling surged broadly last week after as UK Prime Minister Boris Johnson struck a new deal with EU on Brexit. It appeared that UK was on track to leave EU on October 31 in an orderly way. The development...
Global markets were boosted strongly last week as there seemed to be resolution to two major risks finally. UK and Ireland appeared to have found the "pathway" to avoid no-deal Brexit. Meanwhile, US and China agreed an interim trade...
Dollar ended last week generally lower, except versus Swiss Franc and Canadian Dollar. The greenback was pressured as poor economic data raised recessions fears while traders added to bet of Fed cut this month. Though, there is no clear...
Weakness in Sterling and Euro was the main directions in the forex markets last week. Dollar tried to extend recent rally but ended mixed only. Upside of the greenback was limited by persistent trade uncertainties. While commodity currencies ended...
Threat of US-China trade war escalation receded last week after both sides offered some concessions. Further than that, there is increasing hope of de-escalation of some form as the idea of an "interim" trade deal floated around. Both sides...
Risk aversion eased notably further last week as some of the imminent risks receded. New Italian government was sworn in as 5-Star Movement and bitter rival Democratic Party agreement to form a coalition. UK lawmakers passed a bill to...
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...
Last week started with anticipation of Fed Chair Jerome Powell's Jackson Hole speech, but ended with shocked escalation of US-China trade war. Risk aversion should continue to dominate the markets this week, as hard-line rhetorics are expected from both...
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...
US-China trade/currency war, no-deal Brexit, global slowdown and central bank easing were the main themes last week. The perceived risks to global economy were moving closer to materializing. Free fall in Chinese Yuan at the start of the week...
The abrupt escalation of US-China trade war overshadowed Fed's rate cut last week. As the trade talks in Shanghai yielded no constructive result, Trump announced to impose 10% on USD 300B in Chinese imports, effective September 1. The list...
Sterling, Dollar and Euro were the major focuses last week as they took turn in suffering selloffs. The Pound was pressured by increasing worries over no-deal Brexit. While it ended the week as the weakest one, late recovery argues...
Dollar's fortune reversed again last week as expectations of Fed July rate cut re-intensified. Such expectations also pushed US equities to new record highs. However, global equities lagged behind, with major FTSE, CAC and Nikkei closed inside prior week's...
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...
Major global central bankers sang a chorus of dovishness last week. Most importantly, both ECB and Fed signaled the possibility of rate cuts ahead. Comparatively, RBA's indication of more rate cut was not much a surprise. In the background,...
Dollar ended as the strongest one last week as economic data from the US affirmed that Fed is in no rush to deliver the "insurance" rate cut this month, that is, on June 19. Yen was the second strongest...
- advertisement -