The euro has been getting slammed of late and is once again standing out as a clear underperformer on this Monday.
There are two drivers behind the weakness worth highlighting.
The first is the uncertain political climate in Germany. The German Chancellor has said he'd be open to moving up a parliamentary confidence vote by several weeks to before Christmas,...
Now that Donald Trump is set to become the next president of the United States, the U.S. could soon build a strategic Bitcoin reserve.
This initiative, proposed under the pending “Bitcoin Act,” aims to let the U.S. government acquire up to 200,000 Bitcoin per year over five years, totaling up to 1 million BTC, or nearly 5% of the currency’s maximum supply. At...
Were decentralized finance (DeFi) assets like Ethereum underestimated leading up to the election?
Ethereum is now outpacing Bitcoin following Donald Trump’s 2024 U.S. presidential win, with Ether (ETH) gaining 4% in the past 24 hours (and 14.1% in the past 5 days). Bitcoin on the other hand is down 0.4% in the past 24 hours)
Analysts suggest that the...
The US dollar is making significant moves today, soaring higher following a surprising victory for Donald Trump.
The dollar has reached its strongest level in a year, making notable gains against the euro and yen. Risk-correlated assets have sold off, but the dollar is benefiting from a positive reaction in US equities, with futures pushing to fresh record...
Former President Donald Trump claimed a sweeping victory over Vice President Kamala Harris in the 2024 presidential race. As a result, the U.S. stock market surged, with Tesla, banks, and bitcoin all charging higher.
Trump’s pledge to slash the corporate tax rate to 15% from 21% could lift S&P 500 earnings by roughly 4%, according to projections from Goldman...
It's going to be a bumpy ride over the next 24 hours, or perhaps even longer, as we finally find out who the next president of the United States will be.
The race is neck and neck, and the outcome could very well impact financial markets, especially as we head into the U.S. open.
Risk sentiment is looking up across the board: currencies are higher against the...
With both the election and an upcoming Fed meeting in focus, markets could face a surge in volatility this week.
According to the CME Group’s FedWatch Tool, traders are placing a 99% probability on a quarter-point rate cut at the conclusion of the Fed’s policy meeting on Thursday, following a half-point cut in September.
After the rate decision, Fed Chair...
Momentum has swung back towards Harris over the weekend and this is having a clear impact on the dollar-bullish Trump trade.
The US dollar has sold off quite aggressively across the board though we haven't seen much impact in the world of equities where us equity futures are trading up ahead of the US open on Friday.
The US jobs report gave off some mixed...
Two major central bank decisions this week join the U.S. election as key events for markets, with interest rate reductions from the Reserve Bank of Australia and the Bank of England being considered.
The RBA will announce its decision Tuesday (local time), with economists polled by Reuters forecasting no change to the current 4.35% cash rate. Persistently robust...
Trump or Harris? Markets Awaits Outcome
This week, the U.S. presidential election will command everyone's attention.
Market watchers will be focused on a handful of pivotal swing states, including Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin. Pennsylvania is potentially the most critical.
Yet, the results may not be...
Most of what we've been seeing in recent sessions has been Euro-supportive. Economic data out of the zone has been on the better side of expectations.
Inflation data is pointing up, and ECB speak has been decidedly less dovish.
Meanwhile, ECB President Lagarde has said she doesn't expect a Euro area recession in the months ahead.
Otherwise, the yen has been a...
Just days before the U.S. heads to the polls, the last employment report before Election Day will offer a snapshot of hiring and unemployment, key factors in a race where the economy remains top of mind for voters.
Ordinarily, monthly jobs data provides a clearer gauge of economic conditions. However, analysts project that last month’s hiring figures could be...
Currencies were attempting to run higher against the dollar earlier today.
Before giving back many of those gains as the North American market opened, the euro had benefited early on from a run of mostly supportive economic data and higher inflation rates.
Though with investor sentiment souring, there was a flow back towards the U.S. dollar.
U.S. employment...
HSBC foresees a brief rally in EUR/USD should Kamala Harris secure the U.S. presidency. However, the bank expects the rally to be a temporary knee-jerk reaction, with the pair resuming a downward trajectory.
A Donald Trump victory could have starker implications for EUR/USD, as Trump has pledged tariffs on Europe, reigniting fears of a renewed trade war....
It’s been relatively calm in traditional markets. Currencies are flat, stocks are steady, and commodities are consolidating.
Meanwhile, cryptocurrencies are heating up, with Bitcoin making a push back towards its record high from earlier this year.
Gold is holding just under record highs, and oil is consolidating after another sharp drop at the start of the...
Trump Trade & Japan Politics Push USDJPY Higher
Japan's ruling coalition losing its parliamentary majority in weekend elections is currently weighing on the Japanese yen.
Adding momentum to the dollar's strength, long-term U.S. Treasury yields continued their surge, despite the Federal Reserve’s recent 50-basis-point rate cut. Traders perhaps now see little...
The Canadian Dollar simply can't catch a break. Bank of Canada policy has turned increasingly dovish, all while the price of oil remains under pressure and Canada economic data deteriorates.
Oil prices have tumbled following Israel's strikes on Iran, which avoided crude facilities. This has led to a de-escalation of tensions in the Middle East.
Looking ahead,...
Americans continue to rank the economy as their top issue, and the final Non-Farm Payrolls (NFP) report before voting day, offers a crucial signal this coming Friday.
September saw a gain of 254,000 jobs, but forecasts point to a marked slowdown, with expectations hovering just above the 100,000 mark. The expected downturn stems from several factors, including...
