All Articles Tagged - US500cash

Daily Market Comment – Dollar choppy, stocks resilient despite ISM miss

Posted on May 4, 2021 at 9:01 am GMT

· Dollar retreats after disappointing ISM report but bounces back · Sterling outperforms as speculation for BoE tapering grows · Gold capitalizes on subdued yields, RBA takes the sidelines Markets in wait-and-see mode after ISM survey The US dollar is still searching for direction. The reserve currency took a hit yesterday in the wake of a softer-than-expected ISM manufacturing survey and another reminder from Fed Chairman Powell that the world’s largest economy isn’t out of the woods yet, only to [..]

Daily Market Comment – Dollar gets a second wind ahead of ISM data

Posted on May 3, 2021 at 9:44 am GMT

· Taper talk, mild risk aversion, and month-end flows reawaken the dollar · Wall Street takes a minor hit but after a fantastic month · All eyes on ISM survey today and RBA rate decision afterward Dollar strikes back A battle of narratives continues to rage in the forex market, with mounting signs that the US economy is in the early stages of a stimulus-fueled boom being negated by the Fed’s insistence that this won’t be enough to trigger any [..]

Weekly Comment – Will the Fed bring the dollar back to life?

Posted on April 23, 2021 at 1:26 pm GMT

It was an eventful week in global markets. The Bank of Canada scaled back its asset purchase program, the euro capitalized on a rosier economic outlook thanks to faster vaccinations, and stocks retreated from record highs amid fears of higher capital gains taxes. The upcoming week seems even more electrifying. What to watch: · The Federal Reserve concludes its meeting on Wednesday. It will probably be a quiet one, but if investors sense that the Fed might follow in the [..]

Daily Market Comment – Stock markets retreat on old tax news

Posted on April 23, 2021 at 8:50 am GMT

· Wave of selling hits stock markets after recycled capital gains tax story · Euro pulls back after ECB downplays tapering, rebounds after PMIs · Pound snoozes after British PMIs, American ones also on the agenda today Algos go haywire or investors sleeping at the wheel? It was a surreal session in financial markets. Wall Street took a hit to close almost 1% lower, following reports that the White House will seek to double the capital gains tax that wealthy [..]

Daily Market Comment – Will the ECB disturb the waters?

Posted on April 22, 2021 at 8:41 am GMT

· ECB unlikely to rock euro – resilient economy vs higher yields · Loonie flies after BoC tapers QE program, signals earlier rate hikes · Wall Street bounces back, earnings season ramps up Lagarde’s tone to drive the euro The spotlight will fall on the European Central Bank meeting today. Not much has happened since the latest decision in March, but if anything, economic developments since then have been slightly encouraging. Economic data like the PMI surveys have been surprisingly [..]

Daily Market Comment – Can the Bank of Canada pull off a ‘cautious’ tapering?

Posted on April 21, 2021 at 8:54 am GMT

· Bank of Canada likely to scale down its vast QE program today · Dollar breathes sigh of relief, equities retreat as risk aversion returns · Crude oil hit by triple whammy, gold capitalizes on subdued yields BoC to take its foot off the QE gas The Bank of Canada will likely become the first major central bank to scale back its emergency stimulus programs today. The nation’s immunization program is firing on all cylinders and the economy has performed [..]

Daily Market Comment – Sinking dollar lifts other FX boats, Wall Street slips

Posted on April 20, 2021 at 8:33 am GMT

· Dollar suffers after technical breaches, revitalizing sterling and euro · Stock markets retreat from records, profit-taking to blame? · Earnings in focus today as traders await the week’s main events April blues hit the dollar A bad month for the US dollar keeps getting worse. The reserve currency fell through some crucial support levels across multiple charts yesterday and negative technical momentum has dominated ever since. It has really been one-way traffic downhill this entire quarter so far. The [..]

Daily Market Comment – Battle for the dollar keeps raging, stocks fly

Posted on April 19, 2021 at 8:27 am GMT

· Forex market at a crossroads, dollar breaks crucial support zones · Stocks set new records as earnings season gets underway · Canadian budget in focus today, BoC and ECB meetings later this week Dollar reversal underway? The battle for the US dollar is unfolding in the FX arena, with the reserve currency having just broken crucial support regions across several charts. Euro/dollar has powered above the decisive $1.20 zone, while dollar/yen crossed swords with the 108.40 support barrier and [..]

Daily Market Comment – US equities continue to rampage as Powell reassures

Posted on April 9, 2021 at 8:32 am GMT

Dollar headed for losing week as Fed rate hike bets cool Stock market party continues to rage, gold attempts comeback ECB minutes cheer up the euro, sterling loses its shine ‘Opposite week’ in currencies It’s been an eventful week for currency markets, with the trends that dominated earlier in the year going into reverse. In the first quarter, investors became confident the Fed would raise interest rates by next year already thanks to a rosier economic outlook, resulting in a [..]

Daily Market Comment – Stocks conquer new heights, dollar stable after Fed signals

Posted on April 8, 2021 at 8:28 am GMT

Wall Street futures cruise to new records, approach key resistance Dollar stages minor comeback after Fed minutes, pound hit by vaccine woes ECB minutes and speech by Fed Chair Powell on the docket today Fed vs markets The minutes of the FOMC meeting contained no new revelations, but there was a clear sense of optimism about America’s economic fortunes. While the officials highlighted the various downside risks, they also emphasized the benefits from the overload of federal spending and the [..]

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