Fed Meeting: Taking A Breather
The Fed concludes its meeting at 18:00 GMT on Wednesday and having thrown everything including the kitchen sink to protect the US economy in the battle against the virus, no action is expected this time. As such, the market reaction...
Stocks Rise on Easing COVID-19 Restrictions
Stocks rise on easing COVID-19 restrictions, Oil’s glut, Choppy gold trade, Brazil and Colombia in focus Stocks are rising on optimism coronavirus-related restrictions will be eased in the US and around the world. Financial markets are off to a good...
US Futures Rising, Watch BA, CAT, TWTR
The S&P 500 Futures continue to climb as investors believe the coronavirus has passed its peak in major economies. Later today, the Federal Reserve Bank of Dallas will release its Manufacturing Activity Index for April (-88.0 expected). European indices are...
Peak Virus Perks Up Asian Markets
Peak virus seemed to be the overriding theme of the week, with the rate of new cases and deaths falling in Europe and the United States, the COVID-19 epicentres. Plans appear to be accelerating also for partial reopening’s around the...
Forex, Cryptocurrencies, Stocks Forecast
First, a review of last week’s events: EUR/USD. While in the United States, decisions to allocate money to revive the economy are made quickly enough, in the Euro Zone this is a process that requires a long discussion and agreement...
Weekly Economic and Financial Commentary: Throw Out the Textbook
U.S. Review Throw Out the Textbook Oil prices went negative for the first time in history on Monday as the evaporation of demand collided with a supply glut. In the past five weeks, 26.5 million people have filed for unemployment...
Forward Guidance: Surveying the Damage
While GDP tends to draw more attention in normal times, the most relevant economic data next week will be timelier survey readings that better capture the economic damage being done by COVID-19 containment measures. In Canada, a full month of...
The RBA’s Target Cash Rate is Likely to Hold at 0.25% Until End 2023
On Tuesday the Reserve Bank Governor Lowe made a major speech where he outlined the Bank’s key economic forecasts. These forecasts are based on the Bank’s central outlook for the policy response to the Covid Crisis whereby domestic shutdowns are...
Oil Drowns in a Flood of Supply, No Lifejacket for Now
Oil prices traded negative for the first time ever this week, as physical space to store the liquid has almost run out amidst an oversupply of epic proportions. In the near term, there’s little that can save oil prices, and...
German ZEW Survey Continues Its Descent
Notes/Observations Risk-off sentiment in Europe was initial buoyed by concerns of stemming the coronavirus outbreak. Dealers cited a Thursday draft of the clinical trial results for COVID-19 hopeful drug remdesivir did not speed up improvement in patients in China or...
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