Market Update – The impact of a weak dollar on major instruments
The bulls won last week in the equities market despite the uncertainties concerning the US extra stimulus package. The dollar was on the backfoot against its peers. Thus, the greenback has maintained an inverse correlation with the stock market. Gold bid is maintained despite perceived risk aversion while Oil prices shed some gain. Over the […]
Market Updates: Commodities react to Covid while USD plunges ahead of NFP
Last week, dollar ended its best run since April as pressure builds from Covid-19 resurgence and the upcoming US presidential election. The greenback remains under pressure early on Tuesday as it lacked the momentum to push above a critical resistance zone. Covid-19 Second Wave Covid-19 second wave remains a major risk concern as deaths globally […]
Daily Market Analysis: near zero Fed rates plan supports the Dollar
The dollar jumped by 0.7% on Wednesday after the US Federal Reserve concluded its two-day monetary policy meeting with major focus on keeping the interest rate near zero until 2023. Here is today’s daily market analysis The US Central Bank is unrelenting in its effort to support its economy following the Coronavirus hit. After injecting […]
Daily market update – what next for the dollar?
The dollar weakens further on Tuesday as traders await the next action from the Fed amid swift economic recoveries despite rising global Covid-19 cases. The US-Sino affairs run mildly underneath while political tensions surge in the US ahead of the November general elections in the world’s biggest economy. EURUSD hits a fresh weekly high and […]
Gold drops 6.5% in 1 month – should we expect further sell-off?
The yellow metal is down by over 3.5% in September so far, after ending August on a bearish note. In total, Gold drops 6.5% in the last one month (as at the time of writing) as the bearish correction lingers. Risk is back in the markets as optimism rises. Businesses are opening and economies expanding. […]