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The news and analysis archive

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The news and analysis archive
Pelosi hints at bigger CARES Act 2.0 after the U.S. election

Pelosi hints at bigger CARES Act 2.0 after the U.S. ele...

On Thursday, all eyes were on Pelosi, the ‘queen’ of CARES Act 2.0 daily soap-opera as the ‘do or die’ Tuesday deadline was extended till the weekend. Pelosi said: We must agree to...

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Risk trade under stress on CARES Act 2.0 politics

Risk trade under stress on CARES Act 2.0 politics

On Thursday, the White House NEC Kudlow said significant policy differences remain in CARES Act 2.0 talks over grants for state and local government and liability protections for b...

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Gold stumbled on fading hopes of stimulus before U.S. election

Gold stumbled on fading hopes of stimulus before U.S. e...

Gold (XAU/USD-spot) closed around 1903.12 Thursday, stumbled almost -1.11% on higher USD despite Pelosi signals progress of CARES Act 2.0. The US dollar index (DXY) jumped almost +...

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23
Oct

German, EU PMI, UK Retail Sales, AMEX Earnings

After falling in overall value for the first three days of the week, the US dollar noticeably improved on Thursday, with the USDX rising towards the support level held up to ten da...

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ECB’ Lagarde reiterated the call for common EU fiscal authority

ECB’ Lagarde reiterated the call for common EU fiscal a...

Lagarde called for more fiscal stimulus (grants) rather than monetary stimulus (loans) as despite ultralow interest rates, NIRP (on DRF), huge pandemic QE, and huge liquidity, ther...

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EUR surged on less dovish Lagarde and hopes for Brexit deal

EUR surged on less dovish Lagarde and hopes for Brexit ...

On Monday, in an interview Lagarde said: On the need for a common fiscal authority (budget) in line with common monetary authority (ECB), Lagarde said the common recovery stimulus ...

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ECB’ Lagarde called for more grants rather than loans

ECB’ Lagarde called for more grants rather than loans

In an interview Monday (19th Oct), Lagarde called for more grants (fiscal stimulus) rather than loans (monetary stimulus) as the economy may suffer more on long term scarring effec...

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22
Oct

Intel Earnings, US Jobless Claims, US Existing Home Sal...

The pound sterling (GBP) clearly outperformed the euro and also the weakened dollar on Wednesday, with the GBP/USD pair moving to a new six-week high as there are still hopes that ...

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Stimulus addicted Wall Street almost flat on the lingering political drama

Stimulus addicted Wall Street almost flat on the linger...

On early Wednesday, Dow further surged on hopes of an imminent CARES Act 2.0 as the White House Chief of Staff Meadows said CARES Act 2.0 has entered a new phase as Dems, White Hou...

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Dow extends gains on another extension of stimulus deadline

Dow extends gains on another extension of stimulus dead...

The U.S. stock market (Dow Jones Industrial Average) closed around 28410.84 Tuesday, edged up +0.36%, and further jumped almost +0.50% early Wednesday, extending gains on another e...

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21
Oct

UK and Canada CPI, Tesla Earnings, EIA Oil Data

With the weakening dollar, not only major currencies like the euro or the pound sterling relatively improved in value. Emerging markets made also some advances. The USD/MXN pair fe...

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The EU on the back foot against Johnson’ bouncers

The EU on the back foot against Johnson’ bouncers

Statement by the European Commission following the fourth meeting of the EU-UK Joint Committee The fourth regular meeting of the EU-UK Joint Committee on the implementation and app...

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EURUSD surged on hopes of a Brexit deal despite mini-lockdown 2.0

EURUSD surged on hopes of a Brexit deal despite mini-lo...

EURUSD made a high around 1.1795 in the U.S. session Monday, surged almost +0.67% on hopes of a Brexit deal despite British PM Johnson’s ‘AU’ trade deal warning and mini-lockdown 2...

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20
Oct

Netflix and Snap Earnings, US Housing Starts and Permit...

While the US dollar was not in the position of strength on Monday, the Australian dollar (AUD) and the New Zealand dollar (NZD) both still depreciated against the weakened greenbac...

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Dow Fut surged as Pelosi sets Tue deadline for CARES Act 2.0

Dow Fut surged as Pelosi sets Tue deadline for CARES Ac...

On early Monday, Dow Future surged on hopes of an imminent CARES Act 2.0 as U.S. House Speaker Pelosi, who effectively controls policy-making (rather than Trump) sets the Tuesday d...

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Dow snapped 3-day losing streaks on stimulus hopes

Dow snapped 3-day losing streaks on stimulus hopes

The U.S. stock market (Dow Jones Industrial Average) closed around 28606.31, edged up almost +0.39%, and snapped 3-day losing streaks on renewed hopes of the stimulus (CARES Act 2....

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19
Oct

US Housing Market Index, Fed’s Powell Speech

Major currency markets were trading relatively stable on Friday and on Monday. Even the pound sterling (GBP) made no sizable moves after the drop on Thursday, despite increased rhe...

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British PM Johnson intensified pressure on EU for an FTA

British PM Johnson intensified pressure on EU for an FT...

Overall, it seems that British PM Johnson intensified his pressure on the EU for an FTA in favor of the U.K.; otherwise, the U.K.-EU has to trade under WTO like tariffs. The EU has...

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Both the EU and U.K. still open to Brexit renegotiation

Both the EU and U.K. still open to Brexit renegotiation

EU leaders maintain they had no reason to believe the negotiations would not continue. The European Commission President Leyen tweeted: “Took stock of negotiations with Flag of th...

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GBPUSD slips on Brexit and COVID-19 uncertainty

GBPUSD slips on Brexit and COVID-19 uncertainty

GBPUSD closed around 1.2913 in the U.S. session Friday, ticked down -0.01%, almost flat despite no free trade agreement (FTA) as the U.K.-EU may sign an alternative ‘Australia’ (AU...

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