Trump Election Delay Tweet, US GDP Record Plunge…

Summary: The Dollar extended its slide after US Q2 GDP plunged a record 32.9% annualized rate, slightly better than expected (-34.5%). It was still the deepest drop since the government began records in 1947. A…

Fed Satisfies the Doves, Dollar Extends Losses, Euro…

Summary: The Dollar extended its broad-based losses after US Federal Reserve repeated its pledge to use “it’s full range of tools” to support the economy and warned that virus poses considerable risks to the outlook.…

Dollar Bounces Off Lows, Steadies; Spotlight on a…

Summary: The Dollar Index (USD/DXY), a useful gauge of the Greenback’s value against a basket of foreign currencies bounced off two-year lows to 93.762 (93.654 yesterday) after falling to 93.493. The Euro, which takes roughly…

European Equities

Euro Soars Ahead, Yen Joins In, Ongoing US…

Summary: The Euro outperformed, hitting fresh 2-year highs (1.17813) and leading a broad-based FX rally against the US Dollar. Gold soared to a record high (USD 1,945.63), as safe-haven flows continued to divert away from…

Dollar Weakness Extends, Spreads to Yen; Covid-19 Wave…

Summary: Total Coronavirus cases in the US soared to above the 4 million mark with deaths climbing to 149,771. Preliminary factory and services output underwhelmed in the US while those of Australia, Europe and the…

EUR, CHF Extend Climb; AUD, NZD, EMS, Stocks…

Summary: Risk aversion intensified as the coronavirus spread spiralled higher amidst rising US-China tensions and signs of stalling economic progress. FX responded by purchasing European (EUR, CHF) currencies while selling those associated with risk (AUD,…

Down, But Not Out, Dollar Settles as Risk…

Summary: The battered US Dollar settled after falling to multi-month lows against some currencies (EUR, AUD, NZD, CAD). The seemingly out-of-control resurgence of the Covid-19 outbreak in the United States and improving economic prospects overseas…

Dollar Sell-Off Intensifies, AUD, EUR, NZD Surge Lead…

Summary: The US Dollar sell-off intensified as bearish sentiment toward the Greenback grew with no specific catalyst for the slide. European Union leaders agreed unanimously on a EUR 750 billion coronavirus recovery fund that had…

Promising Vaccine Trials, Stimulus Hopes Boost Risk, Stocks,…

Summary: More promising Covid-19 vaccine trials and hopes for further government stimulus measures sparked optimism and boosted risk. Wall Street stocks rallied after drugs from AstraZenica, and a partnership between Pfizer Inc and German biotech…

EU Meet Extends Over Recovery Plan, EUR Could…

Summary: The Dollar finished the week lower against its rivals in dull trading on Friday even as the total death toll in the US topped 140,000. Daily new cases continued to rise in 43 out…