All Articles Tagged - US500cash

Daily Market Comment – Yen and tech stocks bleed as yields march higher

Posted on September 28, 2021 at 8:52 am GMT

Spike in bond yields plays havoc with yen and stocks Oil cruises higher amid dual energy crises in Europe and China Dollar firms, gold struggles, Powell testifies before Congress Yields spike The specter of rising interest rates has returned to haunt financial markets. The Fed breathed some life back into Treasury yields last week after it opened the door for a rate increase next year, and the rally has gone into overdrive this week thanks to some signs that inflation [..]

Daily Market Comment – No clear winner in German elections

Posted on September 27, 2021 at 8:46 am GMT

Euro pulls back after inconclusive German election Dollar balances faster Fed hikes against fading Evergrande fears Wall Street and oil prices keep climbing ahead of busy week Political deadlock in Germany? After a knife-edge election that produced no clear winner, several weeks of intense political negotiations lie ahead in Germany. The Social Democrats narrowly won the vote but the conservative CDU party was just a couple of percentage points behind, so both parties will now try to form a government [..]

US Open Note – Evergrande ghost haunts markets; euro weaker ahead of German election

Posted on September 24, 2021 at 1:25 pm GMT

Evergrande’s drama continues Evergrande’s drama continued to spook markets on Friday as investors had no clue whether China’s giant property developer, which owes a debt larger than the external debt many entire countries face, had successfully met Thursday’s $83.5 million coupon payment. The company now has a 30-day grace period before it declares a default, and it will not be the first time a Chinese company uses this period to arrange its obligations. Though, it’s historically proven that the wait [..]

US Open Note – BoE cheers pound bulls; stocks maintain post-Fed advances

Posted on September 23, 2021 at 1:42 pm GMT

BoE sends some bullish shockwaves The Bank of England (BoE) left its policy settings unchanged as expected with a vote of 9-0 to keep interest rates steady at 0.1% on Thursday but provided some hawkish tilts for the pound to distance itself from the key 1.3600 support level and drift above 1.3700 against the US dollar. The BoE committee judged that despite some uncertainties that remain to be tacked, price developments over the forecast period have strengthened the case for [..]

US Open Note – China’s potential domino effect spooks stocks; dollar up

Posted on September 20, 2021 at 1:15 pm GMT

Stocks plunge as China’s Evergrande causes risk-off While the week was supposed to be all about the Fed and its tapering signals, increasing fears that Beijing will let its giant property developer Evergrande default on its $305 billion liabilities over a looming deadline for payment obligations brought another headache to global markets on Monday. The jitters popped up at a time when investors are growing sensitive to high valuations in stock markets and monitor signs of a slowing global economic [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

Daily Market Comment – Dollar jumps, gold slumps, stocks nervous

Posted on September 17, 2021 at 8:40 am GMT

Surprisingly strong US retail sales lift dollar Gold the biggest casualty as yields spike Quad witching and China risks to drive stocks US consumer delivers again Worries that the US consumer is rolling over were dealt a major blow yesterday after the nation’s retail sales for August overpowered some gloomy forecasts. The retail sales control group that is used in GDP calculations rose by 2.5%, more than erasing last month’s decline. The news catapulted the dollar higher along with Treasury [..]

Daily Market Comment – Are investors sleeping on systematic risk in China?

Posted on September 16, 2021 at 8:56 am GMT

Chinese real estate titan heads for default – will it hit the economy? Wall Street stages solid comeback, oil keeps going US retail sales to inject some volatility into quiet FX market Markets downplay China contagion It’s time to talk about China. The situation is getting dicier as the nation’s second-largest property developer – Evergrande – is on the verge of default. Trading in the company’s onshore bonds was suspended today, which is usually a prelude to bankruptcy. Its total [..]

US Open Note – Yen and oil surge as futures are steady

Posted on September 15, 2021 at 1:00 pm GMT

US inflation mildly affects dollar US inflation had a mild negative influence on the dollar, but yesterday’s fragile risk sentiment gave it a boost. This suggests that markets believe the Fed will delay tapering next week, which might lead to a range bound environment until the end of the week. In addition, China’s efforts to rein in private enterprises and the impact of the delta virus strain on economic development are among them. The US dollar index is heading south around the 50-day simple moving average (SMA), [..]

Daily Market Comment – Dollar unscathed by soft inflation, equities resume slide

Posted on September 15, 2021 at 8:45 am GMT

Dollar takes little damage despite signs US inflation has peaked Wall Street resumes selloff – all eyes on China contagion risks Canadian data coming up ahead of elections, gold wakes up Dollar defies gravity The US dollar has displayed an uncanny ability to absorb bad news without even a scratch lately, a power that was on full display yesterday after the latest US inflation stats disappointed. The annual core CPI rate fell by more than expected to reach 4%, adding [..]

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