Post date: 13/07/2020 09:35 Risk assets worldwide had a mixed performance last week. However, it seems that the worsening pandemic indicators in the US are starting to take their toll on the greenback. With new cases hitting records almost daily, and deaths starting to tick upwards, the dollar fell against every other G10 currency save…
Post date: 06/07/2020 11:52 Risk assets worldwide continue to trade without a clear directional pattern, as stocks, credit and oil bounce around current levels. Economic news on most major currency areas continues to surprise to the upside. The latest burst of good news came from the US June employment report. Offsetting this optimism is the…
Post date: 29/06/2020 08:55 Last week was a very mixed one for global financial markets. The continued uptick in contagion numbers in the US, where some states are actually recording record levels of new cases, meant that stock markets worldwide wobbled, although there is so far no sustained downward trend. The fact that US deaths…
Post date: 22/06/2020 10:57 The rally in risk assets resumed last week, albeit more slowly and amid choppy two-way trading. Oil prices however broke away from the pack, and crude is up 10% for the week. Not surprisingly, the week’s top performing currencies were the Russian ruble and the Colombian peso, whose economies are highly…
Post date: 15/06/2020 09:23 Last week was almost a mirror image of the one before. Equities sold off worldwide while government bonds and safe havens bounced back. Interestingly, peripheral bonds in the Eurozone managed to end the week nearly unchanged, in spite of the general wave of risk aversion, in a sign that the massive…
Post date: 08/06/2020 09:10 The relentless rebound in risk assets worldwide from March lows accelerated last week on the back of positive economic surprises almost everywhere. The US payroll report showing a labor market bouncing back from the bottom received the most attention, but the bounce in Chinese PMI index of service activity to clearly…
Post date: 01/06/2020 12:06 Risk assets worldwide rose last week, buoyed by increased optimism regarding the economic recovery from the pandemic shutdown. Countries are opening up their economies with so far little sign of significant bounce backs in contagion rates. A wall of monetary, fiscal and credit support is now hitting most advanced economies, and…
Post date: 26/05/2020 08:36 The general rebound in the key PMI indices of business activity, from catastrophic to still very low levels, and the continued easing of lockdown measures, reassured markets and lifted risk assets worldwide led by equities. Currencies were no exception, and the dollar sold off against every major peer except the usual…
Post date: 18/05/2020 08:34 The dollar and the Euro both rallied together against most other major currencies last week. The only significant exceptions were a smattering of emerging market currencies, particularly the Turkish Lira which put in what looks like a dead cat bounce after selling off relentlessly for weeks. The week’s biggest losers were…
Post date: 11/05/2020 10:28 The key report of the week, the US payroll numbers for the month of April, made a slightly less grim reading than had been expected, but were still disastrous. Markets chose to focus on the silver lining, and risk assets rallied both into the number and the hours following. Currency performance…
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