USD rally or profit-taking opportunity?
The dollar extended its gains on Friday, bolstered by Donald Trump’s White House return, pressuring the Aussie and Kiwi by over 1%.
Credit Agricole flagged Trump’s policy agenda as a source of upside risk for the greenback but dismissed the likelihood of another 2018-style rally.
With the dollar’s already elevated...
The sugar high from Trump’s victory may be wearing off in a few areas.
Tesla, once a post-election favorite after Elon Musk’s support of Trump’s campaign, has now reversed direction. Reports suggest that Republicans will end the $7,500 EV tax credit—a move that’s sent Rivian tumbling 9%, while Tesla is down nearly 4%.
Shares of Trump Media & Technology slid 8%...
We haven't seen much movement in financial markets today, and that could have something to do with the market taking a breather after recent moves or positioning cautiously ahead of today's U.S. inflation data.
Inflation data aside, the dollar did extend its run slightly, with the dollar index reaching a new six-month high and the euro briefly dropping below...
Gold's recent dip to a two-month low has raised questions about whether its rally has run its course.
Technical indicators suggest the metal could see further downside, with key support around $2,540 aligning with the 100-day moving average and highs from August.
Also, we have weak (but growing) expectations that the Federal Reserve will push back its easing...
We're looking at a very strong dollar on the back of the Trump trade and political turmoil out of Europe. The euro has sunk back towards the yearly low against the buck, just shy at this point.
Though dealers are reporting decent demand ahead of 105 following the collapse of the ruling coalition in Germany.
The chancellor has announced that he'll seek a...
The USD/MXN should be an interesting pair to watch in the coming days.
October’s headline inflation in Mexico ticked up after two months of declines, yet analysts expect Banxico to proceed with a 25-basis-point rate cut this week regardless.
Last week’s volatile trading saw USD/MXN reach 20.80, as markets reacted to concerns over a second Trump presidency....
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...
