USDX

Daily Market Comment – Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

Posted on June 5, 2020 at 8:31 am GMT

Euro skyrockets after ECB increases pandemic stimulus by more than expected Dollar stuck in a downward spiral, unlikely to be saved by US jobs report Oil clings on to gains despite OPEC confusion ECB takes out the bazooka again The resurgent euro, which has been rallying on the back of recovery hopes for the Eurozone economy, got another shot in the arm on Thursday after the European Central Bank delivered a bigger-than-expected stimulus. The ECB boosted its pandemic emergency purchase [..]

Daily Market Comment – Dollar steadies as stocks pause rally; euro eyes ECB stimulus

Posted on June 4, 2020 at 8:33 am GMT

Dollar regains some positive footing as risk rally eases Euro takes a breather ahead of ECB decision Oil pulls back amid doubts about OPEC+ extending output cuts Dollar fights to end losing streak as stocks lose steam The US dollar fought back on Thursday to retain its reign over FX markets, which has come under threat over the past week as rising optimism about the global economy recovering from the pandemic has revived risk assets. The dollar index, which measures [..]

Daily Market Comment – Dollar slumps as recovery hopes gather pace

Posted on June 3, 2020 at 8:38 am GMT

Increasing optimism of strong economic recovery pummel the dollar Yen loses shine too, but gold holds within range as US and China risks linger Loonie nears 3-month high as BoC and OPEC+ decisions eyed Markets shrug off US unrest, look to recovery After a brief scare on Tuesday, it didn’t take long for risk appetite to get back into full mode as investors largely ignored growing unrest in the United States to instead focus on the increasing signs that a [..]

Daily Market Comment – US protests rage on, start to weigh on dollar

Posted on June 2, 2020 at 8:28 am GMT

Trump inflames protests, threatens martial law as US stocks begin to take notice Dollar extends slide as recovery hopes keep positive sentiment intact Aussie flirts with $0.68 after RBA, pound shoots above $1.25 despite Brexit risks Oil steady ahead of OPEC+ meeting Market unease as protests ravage US cities Mass protests continue for a seventh day across major cities in the United States, causing widespread damage and looting in what is another blow for businesses already crippled by the shutdowns [..]

Daily Market Comment – Hong Kong relief weighs on dollar and yen but gold lifted by US protests

Posted on June 1, 2020 at 8:33 am GMT

Trump’s mild response over Hong Kong sparks relief; stocks surge, dollar sags Aussie leads the gainers as RBA meeting not seen spoiling the rally But escalating protests across US pose new threat to recovery hopes; gold up Other risks also lurk as Brexit talks, ECB meeting and US jobs report ahead Trump refrains from tough Hong Kong sanctions Widespread relief in financial markets that President Trump stopped short of announcing damaging sanctions on China buoyed risk assets on the first [..]

Daily Market Comment – Stocks ease off ahead of Trump’s Hong Kong decision; dollar skids after Fed comments

Posted on May 29, 2020 at 8:18 am GMT

Stocks drift lower, yen edges up as markets await Trump’s response over Hong Kong But dollar hits 2½-month low on soaring euro and Fed hints of yield curve control Powell speech and US spending data also eyed later today Sino-US relations under strain Markets are bracing themselves for US President Trump’s press conference expected later today for his decision on what actions to take against China over Hong Kong. The Chinese parliament yesterday passed the controversial national security bill, which [..]

Daily Market Comment – Caution sets in after Trump signals Hong Kong action

Posted on May 27, 2020 at 8:41 am GMT

Dollar firms as Trump hints at end-of-week response against China over Hong Kong But stocks mixed as US-China tensions fail to dent recovery optimism EU divisions resurface, put a brake on euro’s advances US preps Hong Kong sanctions: only Asia takes note Asian stocks were under pressure on Wednesday as US President Donald Trump gave his clearest signal yet that his administration is planning a response to China’s tightening of its grip on Hong Kong. In a White House press [..]

Daily Market Comment – Recovery hopes pull stocks higher as US-China row put aside

Posted on May 26, 2020 at 8:38 am GMT

Growth optimism drives equities higher as outlook brightens on lockdown easing Dollar slips on risk-on mood, pound and aussie shine But gold supported by lingering US-China tensions Stocks buoyed by economic reopening Global equities extended yesterday’s strong gains with Asian indices adding between 1-3% on Tuesday and European and US futures surging by 2%. The recovery theme continues to support risk assets as more businesses around the world are given the green light to reopen, fuelling hopes of a sustainable [..]

Daily Market Comment – No panic but Hong Kong tensions keep markets on edge

Posted on May 25, 2020 at 8:59 am GMT

US threatens sanctions on China over Hong Kong security bill as tensions simmer But optimism from reopening of economies keeps risk aversion in check Euro and pound on the backfoot again as policy easing and political risks weigh US anger at China mounts; new cold war looming? US-China relations continued to sink to new lows as the US Senate rushed through legislation that would place tougher trading rules on Chinese-listed companies on American stock exchanges and after the White House [..]

Daily Market Comment – US-China tensions simmer but markets still betting on recovery

Posted on May 15, 2020 at 8:55 am GMT

Trump threatens to “cut off” relationship with China as row over virus spread escalates But market fallout limited as hopes of recovery and more stimulus prevail Dollar headed for weekly gains, eyes US retail sales data Trump continues attack on China President Trump stepped up his fierce criticism of China as he continued to blame the country for failing to stop the spread of the coronavirus. Speaking to Fox Business Network on Thursday, Trump cast doubt on future trade links [..]

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