Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
Despite market optimism that the Pandemic Relief Bill was finally inching closer to becoming law, the leading US equity markets struggled to maintain the bullish momentum built up over recent weeks. Although the NASDAQ 100 printed a new record high during the New York session, the DJIA 30 traded down -0.67% and the SPX 500 […]
Futures markets sold off sharply once markets opened on Sunday evening, early Monday morning. The cause of the broad-based sell-off was various. The UK had revealed a new variant and strain of the Covid virus earlier in the previous week. The country then announced Tier 4 restrictions on Sunday, resulting in its former EU partners
Equities slump before the US stages a recovery, gold experiences huge swings, GBP slumps Read More »
The UK pound is likely to come under intense scrutiny during the week leading up to the Xmas holidays. On Saturday, December 19, the UK prime minister announced that a vast area of the UK would enter a tier 4 system: the harshest Coronavirus lockdown criteria. London and the surrounding counties are now under legal
The main equity markets in the USA rose for the second day in series on Thursday to reach record highs in anticipation of the Pandemic Relief Bill finally getting approved. The USA is not experiencing any form of unified coronavirus lockdown, it varies state by state. But to all intents it’s business as usual in
SPX500 reaches a record high despite horrendous jobless data as USD slumps further Read More »
The Federal Reserve left interest rates unchanged at 0-0.25% during their December policy meeting. Jerome Powell The Fed chair announced the central bank would continue to buy $120 billion of bonds each month until they observe improvements in the US employment and inflation data. The Fed believe the US economy will shrink less in 2020
Fed leaves rates and policy unchanged, as US retail sales figures disappoint Read More »
Wall Street is now optimistic that the bipartisan Covid Relief Bill which would inject cash directly into the working and middle-class economy where it’s needed most will finally receive approval by Wednesday. Investors’ collective mood improved further after the Republican Senate leader, Mitch McConnell, congratulated Joe Biden on his election win, eventually drawing a line
USD came under pressure versus its main peers during Monday’s trading sessions, illustrated by the dollar index (DXY) trading down -0.29% on the day. At the same time, the leading US equity indices gave up their gains during the New York session as investors await a decision on the Pandemic Relief Bill. Investors are also
One of the significant macroeconomic issues currently dominating western markets looks as if it’s finally heading for a resolution while another appears set for a further extension. Pandemic Relief Bill will get agreed according to Democrats News emanating from USA news wires over the weekend suggested the Pandemic Relief Bill will be agreed in full
On Thursday, the ECB (European Central Bank) kept rates unchanged and agreed to increase the Pandemic Emergency Purchase Programme by an extra €500 billion to €1.85 trillion and extend it to the end of March 2022 to maintain liquidity and shore up the pandemic ravaged economy. The euro rose on the news while Germany’s DAX
Euro reacts positively to the ECB decision to extend stimulus Read More »
The UK prime minister headed to Brussels on Wednesday to seek a last-minute deal from Europe as the Brexit clock ticks down. The UK continue to use the distraction of fishing rights and sovereignty as the stumbling blocks, and that pitch and deflection probably work on the readers of the low brow red-top newspapers in
