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  1. Date : 26th February 2021. Market Update – February 26 – End of Month shenanigans. Market News Today – Yields spike (10-yr +9.27% – over 1.52), Equities tank (Nasdaq -3.52%, Nikkei -4%), USD off 3-year lows. Commodity, EM currencies & Sterling cool from highs. Oil holds up (US attack on Iranian groups in Syria), Gold falls further under $1770, BTC at $45K. US data yesterday biased to the upside (big fall Claims, Durables beat & GDP in-line.) Overnight – weak Housing, also weak but better than expected CPI & Retail data from JPY. Senate rejects $15 min wage in Stimul
  2. Date : 25th February 2021. Market Update – February 25 – Risk On, Commodity Currencies lead. Market News Today – USD at 3-year lows, Equities recover over 1%, (Dow over 32K) Yields cool again but remain relatively elevated (10yr – 1.41%). RISK ON. JPY & CHF heavy. Commodity currencies & Sterling hold bid, EUR breaks January resistance. Copper at 10-year high, Oil at 13-mth high, Gold under $1800. BTC at 50K. Sentiment lifted as J&J announce a single shot vaccine and independent study shows Pfizer vaccine 94% effective. Overnight – Nikkei up 1.67%, German Gfk confidence
  3. Date : 24th February 2021. Market Update – February 24 – Sterling & Commodity Currencies Soar. Market News Today Equities recover from significant falls, Powell pushes for inflation, USD remains heavy, yields cool from highs, NZD spikes following RBNZ. Commodity currencies & Sterling at 3-year highs, Copper at near 10-year high, Oil slipped from 1-year highs. Gold holds over $1800. BTC up from under 45k to recover 50K. German GDP beats at 0.3%. Overnight – Japanese Inflation slips, ASO talks weak Q1 GDP and need for more Bonds. Nikkei closed lower -1.6%. The Pound and the
  4. Date : 23rd February 2021. Market Update – February 23 – USD Remains Heavy. Market News Today Equities heavy & USD down again (Nasdaq –2.46%, TSLA -8.55% but DIS+4.4%) as Yields (+1.8% 10yr) & Commodities (inc. Oil +2% & Gold) gained. Commodity currencies close to 3-year highs. Another volatile session for BTC – 57k-49K. Facebook restores some Aussie news sites, Marathon & Occidental both missed expectations, HSBC announced a 34% fall in profits. Huawei launched a $2,800 foldable phone. US passed 500,000 Covid deaths (20% of global total) & England announced
  5. Date : 22nd February 2021. Markets Update – February 22 – It’s all about the Yields. Market News Today Equities heavy as Yields, Copper and VIX soar. USD recovers from lows; safe haven JPY & CHF suffer. US10yr yields touched 1.38% (now 1.345%), Equities closed down on Friday and for the week, FUTS now into 5th day lower. Reflation trade & progress in vaccination worldwide, especially in developed economies, helps commodity currencies & boosts sentiment for riskier assets. Commodities lifted (especially Copper) – except Gold ($1790) which appears to be losing its infl
  6. Date : 19th February 2021. US Open – Dollar, Oil & Gold Pressured; Equities higher. The Dollar has softened for a second consecutive day, despite US Treasury yields perking up, although remaining off trend highs seen earlier in the week. Global stock markets have continued to exhibit a sputtering price action in the face of historically stretched valuations and the recent spike in yields. In the commodity realm, oil prices have corrected while base metals have remained buoyant, with nickel and particularly Copper, for instance, posting fresh major trend highs. The U
  7. Date : 18th February 2021. Dollar settled as commodities hit new highs. Both the US Dollar and US Treasury yields have settled off their respective highs, while global equity markets have come off the boil as investors take stock in the face of lofty valuations. The reflation trade remained alive and kicking in commodities, however, with copper and other base metals surging to fresh multi-year highs, buoyed by demand on Chinese exchanges, which reopened after their week long hiatus for the Lunar New Year holiday. USOIL prices also clocked a new 13-month peak. A Reuters article
  8. Date : 17th February 2021. Stock stalled, Gold down, BTC up amid sell off in Treasuries!. Market News Today The selloff in Treasuries deepened as the market returned from its long Presidents Day weekend. The stock rally started to run out of steam, while the selloff in bond markets continued. The bear steepener remained fully intact as the reflation trade and technicals gripped the market. 10-year Treasury yields reached levels last seen in February 2020 yesterday, before falling back -1.5 bp and settling around the 1.3% mark. Longer dated yields are at or near 1-year highs. But
  9. Date : 16th February 2021. Market Update – February 16. Market News Today The stock rally continued overnight as sentiment remains underpinned by growing conviction that the vaccine rollout will boost the global recovery and as Asian markets are coming back from the extended weekend. China remains closed for the Lunar New Year holiday. The JPN225 closed 1.3% higher above the 30000 mark, after trimming some gains following an FT story that China is considering limiting rare earth mineral supplies to US defence contractors, which rekindled concern over the future of US-China rel
  10. Date : 15th February 2021. Events to Look Out this Week. Markets are itching to push the reflation trade against the background of vaccine developments and fiscal stimulus. Central banks are, unsurprisingly, trying to slow the rise in yields, although even if officials highlight that virus mutations could delay the re-opening of economies and that the balance of risks remains tilted to the downside, it seems futile at the moment to push against the gradual slide in core bonds. Fundamentals however will continue to dominate volatility as a busy week will start with leading indicat
  11. Date : 12th February 2021. Market Update – February 12 – USD ticks up from lows. Market News Today USD tweaks off lows, US Equities flat (Tilray -49.7%, latest Reddit frenzy, DISNEY & Pepsi beat expectations – big gains for Disney+ and lots of snacking at home in lockdowns). Weekly Claims data weak again. Most of Asia closed for Lunar New Year, Nikkei also flat into close. BTC rallied towards 49K – BNY Mellon will accept it as custodian status. Oil slips a tad on reduced forecasts from OPEC+ and the EIA consider the market still over supplied, Gold lost over $20 to $1820
  12. Date : 11th February 2021. Market Update – February 11 – Consolidation: USD at lows, Equities at highs. Market News Today USD consolidates at lows, Equities finished flat (TWTR +13%). China, Japan and South Korea closed for start of Lunar New Year. US Inflation disappointed, taking the steam from the “buy everything” rally of the last few days. Biden spoke of concern about China’s “coercive and unfair economic practices” & human rights, ahead of speaking with Xi. Powell spoke of the significant bond purchasing programme continuing until Inflation rises significantly. Lagarde
  13. Date : 10th February 2021. Market Update – February 10 – USD continues to cool. Market News Today USD down again, Equities finished flat but Asian markets & Futs. higher after good earnings reports from Twitter, Cisco, Lyft and Toyota. Oil holds at 13-month highs, Gold holds 1840, BTC peaked at 48k and 10-yr Yields closed at 1.16% again, with expectations of inflation raised. Overnight JPY PPI in line but CNY CPI surprisingly dipped too (-0.3%), German CPI in line with expectations at 0.8%. Today – US CPI, Oil inventories, ECB’s Lagarde, Panetta, BoE’s Bailey, Fed’s
  14. Date : 9th February 2021. Market Update – February 9 – BTC & Equities all-time-highs. Market News Today Equities (Nasdaq +0.95%) & BTC (+20%, $47k+) rally to new all-time highs & USD loses more momentum (USDIndex 90.65). USOil rallies to 13-month highs ($58.50), Gold up to $1840 and US 10-yr Yields at 1.16%. Details of US stimulus package show unemployment insurance will run until August 29th, & $1,400 cheques at the same income level as prior round but will reduce when income hits 75K. EU will follow Australia and get tech firms to pay for news (FT). Wal
  15. Date : 8th February 2021. Events to Look Out this Week. Leading indicators such as US and Chinese Inflation and GDP from the UK dominate the releases next week. The markets are going to remain focused on the vaccination programs development, while market volatility may slacken ahead of the Lunar New Year holiday. China begins its New Year-Golden Week holiday on 11 February, as does Korea, while Taiwan starts a day earlier on Wednesday. Most other countries’ data will be out on Friday. Have a look at the most important events of the coming days in our usual weekly publication.
  16. Date : 5th February 2021. FX News Today – NFP Day! – Dollar set for best week in three months. Stock markets have moved broadly higher overnight after a strong close on Wall Street, which was supported by indications that the labour market is recovering, positive forecast for upcoming earnings and ongoing hope of stimulus as markets buy into the expected recovery in the world economy later in the year, when vaccination programs have helped to re-open economies. Strength was also broadbased though paced by tech, financials, and energy. The USA100 climbed to 13,777 while the USA500
  17. Date : 4th February 2021. February: Emergence of more virulent strains. The New Year’s rally on Wall Street and global markets ran into turbulence during January. Rising virus cases and more stringent lockdowns, a shaky rollout of the vaccine in the US and Europe and the emergence of more virulent strains tempered optimism about the recovery. A frenzy in select stocks prompted a surge in anxiety and volatility on Wall Street. But the equity market bounced back into February, supported by still intact recovery expectations and a calming in market volatility. The uptrend in bond yields
  18. Date : 2nd February 2021. FX News Today – Tech Giants Day! Stock markets moved broadly higher after a positive close on Wall Street yesterday. Concern over volatility in retail trading has started to recede and stimulus hopes and vaccine progress are keeping sentiment underpinned. Tech stocks outperformed ahead of earnings from the likes of Amazon and Alphabet today. GER30 and UK100 futures are currently up 0.4% and 0.6% respectively. US futures are also higher, with the tech-heavy USA100 outperforming. The JPN225 closed with a gain of 0.97%. The 10-year Treasury yield is up 0.3 b
  19. Date : 1st February 2021. Events to Look Out for Next Week. Equity markets have been for sale so far as the “game stocks” frenzy and volatility have added to virus and vaccine woes and uncertainty over stimulus to further shake confidence, while sentiment was supported by earnings. Next week’s heavy dose of global data releases includes US NFP, Eurozone Retail Sales, GDP and CPI but also rate decisions from the BoE and RBA. The data are likely to reveal the many negative impacts from the second wave. Meanwhile, there is a slew of earnings and guidance, which will be key as two g
  20. Date : 29th January 2021. FX & Market Update – January 29. It’s the final trading day of the week and month, and the dollar majors have mostly been holding within their respective Thursday ranges amid a backdrop of whippy global asset markets, which have once again turned to a risk-off positioning mode. The exception has been USDJPY, which floated to a seven-week high at 104.9 on the back of yen weakness, which saw GBPJPY lift to an 11-month high and AUDJPY to a two-day high. This price action is a break in correlation for the Yen, which historically has tended to strengthen d
  21. Date : 28th January 2021. FX News & Market Update – January 28. FX News Today BOOM – Stocks tank (-2%+ worst day in 3 months), USD gets safe haven lift, AUD & NZD hit. Hedge Funds squeezed, stimulus stalled? and vaccine rollout questions. FED – No change to rates & $120 bln/month in QE, the mantra remains until “substantial further progress has been made toward the Committee’s maximum employment and price stability goals.” Durable Goods missed earlier in the day. Earnings from the tech players all exceed expectations (APPLE (-0.77% $100bln+ in revenues and record
  22. Date : 26th January 2021. FX & Market Update – January 26. FX News Today USD & JPY stage a wee comeback. US Equities had a very volatile day – (Huge surge in Options trading) US Futures down and Asian markets weaker – amid fears of a delay in stimulus programs and warnings of asset bubbles in China weighed. In Europe, virus developments remain in focus with clear signs that lockdowns are working in new infection numbers, but worries about the impact of virus mutations and in the EU dissatisfaction with the slow rollout of vaccines. Yellen confirmed as Treasury Secreta
  23. Date : 25th January 2021. Events to Look Out for This Week. A gigantic week is coming with 2 of the FAANGs, Tesla and Microsoft, reporting their Q4 earnings, along with the FOMC conference in focus as it could provide key information on fiscal support talks. Focus will also be on GDP data from the biggest economies in the world, including the US and Europe, but also on UK Job numbers that will show the impact of the original furlough deadline. Monday – 25 January 2021 German IFO (EUR, GMT 09:00) – German IFO business confidence is expected to slip slightly to
  24. Date : 23rd January 2021. FX Update – January 22 – USD Holds gains & PMI’s. GBPUSD, H1 The Dollar has firmed up on a safe haven bid with the reflation trade having come to a firm stop. The USDIndex lifted moderately to a 90.25 high after basing out at a nine-day low at 90.05. The US currency gained only marginally against the Euro and Yen, but racked up gains of around 0.4% to 0.5% against the Pound and dollar bloc currencies. EURUSD ebbed back from an eight-day high at 1.2178, before recovering to 1.2188 following Eurozone PMI data, while USDJPY lifted to a two-day high
  25. Date : 21st January 2021. USD Data – Claims Remain Elevated, Housing & Philly Fed beat. EURUSD, H1 US initial jobless claims fell -26,000 to 900,000 in the week ended January 16. This follows the prior week’s sharply downwardly revised 142,000 surge to 926,000 (was 965,000) which was the highest level since late August. But the 4-week moving average rose to 848,000 versus the prior 824,500 (was 834,250). Initial jobless claims (NSA) tumbled -151,300 to 960,700 in the January 16 week after rising 192,300 (was 231,300). Continuing claims dropped -127,000 to 5.054 million in th
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