Week Ahead – Focus Remains on Virus Spread, Fiscal Stimulus, Rebounding Data, and Earnings
Key Economic Events Saturday, July 18th Monday, July 20th – advertisement – Brexit talks resume in London US Sec of State Pompeo meets UK PM Johnson and Foreign Sec Raab 21:30 ET China to keep 1-and-5 year loan prime rates...
Cliff Notes: US and China, Diametrically Opposed Risks
Key insights from the week that was. The key release for Australia this week was the July Westpac-MI consumer sentiment survey. Coming immediately after the start of the Melbourne lockdown, it represents the first clear read of its impact, both...
Week Ahead – Vaccine Enthusiasm vs Faltering Recovery
It’s a quiet week as far as scheduled events go, with the main highlight being the EU summit about the recovery fund, which exposes the euro to weekend risk. What will truly drive markets though, is the ongoing clash between...
ECB Keeps Interest Rates On Hold
For the 24 hours to 23:00 GMT, the EUR declined 0.27% against the USD and closed at 1.1384. On the macro front, Euro-zone’s trade surplus widened to £8.0 billion in May, amid easing of coronavirus-led lockdown restrictions and compared to...
USD/CAD Yawns Despite Strong Data in Canada, US
USD/CAD has recorded slight gains on Thursday, after posting strong losses on Wednesday. Currently, the pair is trading quietly at 1.3534, up 0.19% on the day. On the fundamental front, there were strong numbers on both sides of the border....
Markets Down On Chinese Data, Double Top For SP500
Hang Seng lost 2.2% this morning, while the FTSE China A50 sank 3.3%. China’s economy showed higher growth than expected in the second quarter, but it failed to bring optimism to the markets. Pessimism around China is pushing down the...
China Could Return to Growth in Q2 amid Geopolitical Bullying Woes
China releases GDP readings for the second quarter on Thursday at 02:00 GMT along with industrial production for June, retail sales and fixed investment data. All figures are forecast to strengthen, indicating that the world’s second largest economy is recovering...
A Booster From Moderna
Stock markets have been given another lift this morning by another promising vaccine trial, this time from Moderna, as the race to be the first to market intensifies. It goes without saying that a vaccine will be the gamechanger in...
USD/CAD Quiet as US Inflation Recovers
USD/CAD continues to drift this week. On Tuesday, the pair is trading quietly at 1.3615. On the fundamental front, US inflation improved in June and beat the forecasts. There are no Canadian releases on the schedule. On Wednesday, the Bank...
Aussie May Drift Lower after Employment Report
June’s employment report for Australia is likely to catch investors’ eyes on Thursday 0030 GMT as the nation’s economy tumbled into a recession in the first half of the year. However, Australia avoided the high Covid-19 cases of other countries, recording...
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