When tens of millions of people lost their jobs due to the 2020 novel coronavirus (COVID-19) pandemic, stock market volatility echoed the distress. Throughout March and April 2020, equities devolved into chaos as the markets attempted to price-in an unprecedented economic event. To stay ahead of the curve, traders dedicated immense resources to the study… Read more.
After an eventful trading week last week, global markets are holding onto a positive risk tone. President Trump formally announced steel and aluminum tariffs, but there were exceptions for Canada and Mexico that softened its impact on risk appetites. There has been pushback from Capitol Hill, the business sector and major central banks that could keep trade tensions subdued.
A much better than forecast look at October US jobs data has strengthened the chances for a December Federal Reserve interest rate hike.
The Gold market is just bearing the brunt of a strong US Dollar and monetary policy that has been interpreted as perhaps a bit hawkish. The US Fed tapering is pretty much set for an October expiration but the tightening is regarded as data dependent.
The Chinese yuan pushed to its 20-year peak on Monday against the world’s reserve currency after the U.S. Labor Department’s release of weaker-than-anticipated jobs data late last week raises questions about the next steps of monetary policy, according to Bloomberg.
The gold market should be in demand as a hard currency, but it simply has been pressured by the allocations from investors spreading into the Stock Indexes and many other products. The strength of the US Dollar puts pressure on the gold market while the tapering of the quantitative easing should increase the strength of… Read more.
The Canadian dollar was ebbing and flowing on Friday against the world’s reserve currency after the release of tepid economic data and gains for the country’s top commodity, according to published reports.
The dollars of the South Pacific slumped against the majority of their top rivals on Thursday, tugged down by persistent concerns about what the central bank of the U.S. will do regarding its economy-spurring measures, Bloomberg reports.
The U.S. dollar on Friday achieved healthy gains against the common currency of the European Union on foreign exchange markets in the aftermath of strong jobs data released by the owner of the globe’s largest economy, according to Bloomberg.
The shared currency of the European Union slipped from its highest value in three weeks against the world’s reserve currency as a consequence of Germany releasing weak retail sales data, Bloomberg reports.