TRYing Times & EM FX Volatility
Turkish Lira fireworks are back with a bang in the EM scene. TRY plunged at the start of Monday trading after Erdogan fired central bank governor Naci Agbal following a rate hike. EM currencies were pressured across the board, prompting...
Inflation fears are creating ‘extraordinary’ buying opportunities in tech, Invesco says
When rising Treasury yields put pressure on tech stocks, Invesco’s Kristina Hooper is looking to put money to work. Hooper, who oversees $1.3 trillion in assets, predicts the group’s growth potential will ultimately prevail over inflation fears. “Any time we...
Elliott Wave Analysis: USD/TRY Can be Headed Much Higher after Erdogan’s Actions
We have a few topics that will drive the markets this week. First is coming from Turkey after Erdogan has fired the central bank governor after they increased rates on Thursday. TRY lost 15% against the USD. Second important topic...
Existing home sales fell sharply in February, as supply dropped by the largest amount on record
Single-family homes are seen in this aerial photograph taken over a Lennar Corp. development in San Diego, California. Bing Guan | Bloomberg | Getty Images Closed sales of existing homes in February dropped a larger-than-expected 6.6% compared with January, according...
USDTRY Faces Strong Losses after 4-Month High
USDTRY shifted aggressively to the downside after spiking towards a fresh four-month high of 8.4647 earlier today. The price is trying to recoup the positive gap which was posted during the previous sessions, with the technical indicators showing a mixed behavior. The RSI is sloping...
Eurozone PMIs May Nudge Higher but Unlikely to Ease Euro’s Vaccine Pain
As Europe’s vaccine drama unfolds, the flash March PMI prints for the euro area may generate some positive headlines for the region’s struggling economy on Wednesday (09:00 GMT). The easing of certain lockdown restrictions in some countries probably led to...
Euro and Swiss Franc Mildly Higher in Mixed Markets
The financial markets are generally mixed with subdued trading today. Nikkei did had a bad day, but the selloff didn’t spread to other markets. European indices and US futures are mixed while Germany and US benchmark yields are mildly lower....
Amazon-backed Deliveroo seeks valuation of up to $12 billion in its London IPO
The Deliveroo app displayed on a smartphone screen. Thiago Prudencio | SOPA Images | LightRocket via Getty Images LONDON — British food delivery firm Deliveroo is seeking a valuation of up to £8.8 billion ($12.2 billion) in its upcoming initial...
Could US Treasuries Draw Some Support From A More Fragile Risk Environment?
Markets Markets were still looking for a post-Fed equilibrium last Friday. US yields stayed near recent peak levels, but changes were limited (5& 10y + 1.5 bps, 30y -0.5bps). German Bunds outperformed with yields easing up to 2.7 bps/3 bps...
USD/CAD Breaks Bearish Momentum
Despite an improvement in retail data, the Canadian dollar came under pressure as the price of oil tanked. The RSI divergence from last week indicated a loss of momentum in the sell-off. Then a breakout above the resistance at 1.2490...
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