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Market Analysis

September, 2020

  • 18 September 2020 10:53 am

    PBOC Sets Yuan mid-point at 6.7591

    The People’s Bank of China has set yuan mid-point at 6.7591 / DLR vs last close 6.7642. China’s central bank also says it set the 14-day reverse repo rate at 2.35% vs 2.35% previously.

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  • 18 September 2020 10:52 am

    FX Option Expiries For Sept 18 NY Cut

    FX option expiries for Sept 18 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1750 980m1.1800 753m1.1850 758m1.1900 1.0bn1.1950 1.3bn – USD/JPY: USD amounts          104.00 500m104.50 585m105.25 971m105.50 1.1bn – AUD/USD: AUD amounts 0.7300 2.4bn  – USD/CAD: USD amounts         1.3050 875m1.3100 551m1.3160 653m1.3200 574m1.3250 …

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  • 18 September 2020 1:59 am

    NYSE Closes Lower as Market Digests Fed Policy Statement

    The New York Stock Exchange (NYSE) closed Thursday lower with the market digesting the effect of the Federal Reserve’s decision to maintain interest rates near 0%, a move that would probably continue until 2023. The Dow Jones Industrial Average declined by 130.40 points, or 0.4%, to close at 27,901.98 points. …

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  • 18 September 2020 1:51 am

    US Treasury Yields Down Following Fed Statement

    US Treasury yields declined on Thursday, after the Federal Reserve vowed on Wednesday to maintain interest rates near 0% for three years. Return on the 10-year bonds declined by 0.4 basis points to 0.682%. Yields on the 30-year bonds decreased by 1.9 basis points to 1.428%. Meanwhile, the yield on …

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  • 18 September 2020 1:41 am

    OECD Sees World Economy Growing by 5% in 2021

    The Organization for Economic Cooperation and Development (OECD) improved its expectations for the global economy during 2020, expecting a 4.5% contraction, compared with 6% in June. This comes due to improved outlooks for the world’s two largest economies, the United States and China, and supported by recent economic data. However, …

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  • 18 September 2020 1:28 am

    US Fed Buys $25.7 B Mortgage Bonds

    The Federal Reserve purchased $25.682 billion worth of mortgage-backed securities this week, compared with $29.69 billion last week, data by the Federal Reserve Bank of New York showed on Thursday.

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  • 18 September 2020 12:58 am

    Investors Withdraw $994 M from US Stock Funds

    Investors have pulled around $994 million out of stock funds in the United States last week, Reuters reported, citing data by Lipper. Money mark funds declined by $50.5 billion during the week that ended on Wednesday. Meanwhile, emerging market equity funds lost about $525 million.

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  • 18 September 2020 12:16 am

    Oil Prices Finish Higher on OPEC+ Commitment

    Oil prices closed higher on Thursday, after OPEC+ expressed the importance of commitment to the output cuts. Brent crude futures for November delivery increased by $1.08, or 2.6%, and settled at $43.30 per barrel. The West Texas Intermediate (WTI) futures for October delivery finished higher by 81 cents, or 2%, …

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  • 17 September 2020 11:55 pm

    Gold Prices Declines Following Fed Statement

    Gold prices declined on Thursday after the Federal Reserve expressed intentions to maintain interest rates near 0% until 2023. Gold futures for December delivery declined by $20.60, or 1.1%, and finished at $1,949.90 per ounce. Meanwhile, silver futures for December delivery closed lower by 38 cents, or 1.4%, at $27.10 …

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  • 17 September 2020 9:13 pm

    European Stocks Close Lower Following Fed Decision

    European stocks closed lower on Thursday, one day after the US Federal Reserve vowed to maintain interest rates near 0% for around three years. The pan-European STOXX 600 index closed lower by 0.40%. Meanwhile, the UK’s FTSE100 declined by 0.47%, and the French CAC40 index fell by 0.69%. Likewise, the …

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  • 17 September 2020 8:27 pm

    DXY Down Hovering Above 93

    The US Dollar (USD) is declining on Thursday, one day after the release of the latest Federal Reserve policy statement. The Dollar index (DXY), which measures the performance of the USD against a basket of six major international currencies, is down by 0.13% for the day at 93.10. The index …

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  • 17 September 2020 5:46 pm

    Canada: ADP Employment Change Arrives at -205.4K in August

    Employment in Canada decreased by 205,400 July to August, the monthly data published by the ADP Research Institue revealed on Thursday. This reading missed the market expectation for an increase of 901,800 by a wide margin. Meanwhile, July’s print got revised from 1,149,800 to -523,000. Commenting on the data, “in …

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  • 17 September 2020 5:41 pm

    U.S. Unemployment Claims Held Steady at 860,000 Last Week

    The number of Americans filing for new unemployment benefits fell last week but remains stuck at extremely high levels as the labor market recovery slows and consumer spending slows down as the fiscal stimulus fades. The US Labor Department said that the total number of new applications for unemployment benefits, …

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