Month: February 2020

Safe haven demand has increased significantly after a sharp increase in Coronavirus cases was reported. A new diagnostic methodology indicated that there are nearly 15,000 new cases reported today, up from the 1,638 reported on Tuesday. Higher risk assets, especially those tied to the fortunes of the Chinese economy, namely […]

The U.S. Trade Secretary Steven Mnuchin insisted that Trump’s tax cuts will pay for themselves over a 10-year period, even considering that the near-term deficit is expected to reach the 1 trillion level. “Our analysis has always been higher than CBO. As I’ve said previously, we believe that the tax […]

Gold futures have been declining steadily in recent sessions, but they finally ticket higher on Thursday after reports out of the Hubei province in China showed a dramatic spike in the death toll due to the coronavirus. 242 people died on Wednesday, more than doubling the highest death count until […]

The US Dollar was broadly higher on Wednesday as hopes that the coronavirus threat is subsiding. In China, though more than 2,000 new cases were confirmed yesterday, the daily rise was at its lowest level since January 30th, giving hope that the spread may have peaked. That helped to improve […]

In his first day of his two-day testimony before Congress, Federal Reserve Chairman Jerome Powell told U.S. lawmakers that the U.S. economy is in a “good place”. Powell’s comments were well-placed despite persistent global economic uncertainty – the U.S. economy is in its longest period of economic expansion on record, […]

European stock markets were trading broadly higher as reports indicated that the spread of the coronavirus in Asia may be dwindling. Though the death toll peaked on Monday, the number of new infections declined, which traders took as a sign that the worst of the virus is behind us. The […]

The Pound Sterling remains near to 2020 lows as FX traders ponder the possible outcomes of the UK-EU trade relationship once the transition period has expired. Earlier today, the release of a mixed bag of data from the UK, which included a flat reading of the preliminary 4th quarter GDP […]

Global traders remained cautiously optimistic about the containment of the coronavirus despite the continually rising death toll on mainland China. There were 2,478 new cases of the disease reported on Monday, with 108 more deaths reported, the highest daily tally thus far. The death toll now sits at 1,016 deaths. […]

By: FXTM Last week, we learned that investors were still brave enough to continue with a ‘buy-the-dips’ mentality in equity markets. All three major US indices made new record highs on Thursday with the S&P 500 up 3.2% for the week, its best performance since June 2019. It wasn’t just Wall […]

In London trading, the Pound Sterling continues to be pressured by a firmer greenback and earlier touched a 2½ month trough against the Dollar. Last week, the Pound suffered its largest weekly decline versus the greenback in seven weeks, with investors concerned about the Brexit transition period possibly failing to […]