U.S. STOCK FUTURES ERASE GAINS
As U.S congress continues to argue over the size of a new economic support package after the additional unemployment benefits expired. Investors have remained cautious with COVID-19 infections on the rise again in the U.S. and elsewhere. Uncertainty over the course of the pandemic and over how it will affect the economy has clouded market’s…
Read MoreBrazilian Assets Lower on Announcement of Social Program
UNITED STATES US stocks started off the week on a high as hopes for another stimulus package revived. The NASDAQ led gains, up 1.86% while the S&P and the DOW were up 1.61% and 1.50% respectively. Yield on 10Y USTs closed lower at 0.6528%. UNITED KINGDOM Talks over a trade agreement between the UK and…
Read MoreRisk on with Positive Data from China. Non-Farm Payrolls and First US Debate Later This Week.
UNITED STATES Today’s agenda is dominated by ECB and FOMC speeches with CNY off on holiday. We should see US Final GDP Numbers and Non-Farm Payrolls later this week. Trump and Biden first debate and Brexit talks final round of discussions are set for Tuesday. Ahead of US debate NY Times published an article on…
Read MoreMarkets Dropped after FED Comments
US indices dropped yesterday after the comments of FED officials: some of them highlighted that uncertainty is still too high and “the most difficult part of the recovery is still ahead of us”.The FED chair Jay Powell argued for Congress to agree on a new round of stimulus to support the economic recovery. S&P closed…
Read MoreFED Remained the Rate Unchanged With the Prediction to Stay Near Zero For the Next 3 Years
US FED decided to leave the rate unchanged with the forecast to stay near zero for the next 3 years with an idea is to help the economy to rebound. FED Chairman Jay Powell also confirmed that central bank will continue to purchase large volumes of securities. In its statement, FOMC is aimed to strengthen…
Read MoreAll Eyes are on Central Banks Action Later This Week with Pandemic Continuing to Upend the Global Economy
UNITED STATES Bond Prices Edge Higher Ahead of FOMC; Inflation Heats Up — 10-Year 0.671%. Traders are looking out to Wednesday’s Federal Open Market Committee meeting statement and anticipate policymakers will continue to lean dovish with rates on hold for the foreseeable future. USD dollar is lower at early European session with positive news on…
Read MoreECB Won’t Overreact to Stronger EUR
EUROPEAN UNION As largely expected, ECB meeting came in-line yesterday, announcing that the bond buying programme would remain at EUR1.35tn and rates would be left unchanged. Separately, Lagarde said that the ECB had discussed the issue of the surging euro and would monitor it going forward. Still, she did not hint on any pressing need…
Read MoreECB Rate Decision Coming Today
After the three-day drop in US equities indices, market appreciated on Wednesday – S&P gained 2%, Nasdaq closed 2.7% higher. However, futures are trading slightly lower this morning, losing 0.3%. The yield on 10Y USTs added 2 bps on Wednesday and closed 0.702%. Asian stocks trading higher this morning after the rebound in US, Kospi…
Read MoreBrent Crude Falls Below $40/BBL for the First Time Since June
The S&P 500 index SPX fell 2.8% to 3,331.84, clinching its first three-day losing streak in nearly three months with nearly 90% of all shares lower. The likes Apple AAPL, -6.72%, Microsoft MSFT, -5.41% and Amazon AMZN, -4.39% were among the Big Tech stocks to sink more than 4%, torpedoing broad market indexes. The Nasdaq…
Read MoreStocks Brush Off Last Week Jitters to Open Week Higher
EUROPEAN UNION European stocks broke off from the previous week’s selloff to start the week on a high. Monday’s 1.66% gain for the STOXX and 2.38% rise for the FTSE marked a positive start to the week with Wall Street counterparts closed for a holiday. The DAX also closed 2.00% higher despite German manufacturing data…
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