Blogs

EUR/USD: Yet strong resistance above 1.1000

So far this week, the Brazilian real has advanced 2.88 percent against the U.S. dollar, a strong move towards recovering from the two previous weeks' losses.

The US Transportation Department is trying to persuade China to allow the resumption of US passenger flights in. More detail at that link above. This does seem to be a minor sort of spat, but as I noted previously, add it to the list if issues between the US and China:

A US media report that the Trump administration has discussed conducting a US nuclear test. Citing a senior administration official and two former officials familiar with the deliberations for the info:

Forex news for North American trade on May 22, 2020: Markets: – Gold up $8 to $1735 – WTI crude down 50-cents to $33.43 – US 10-year yields down 1 bps to 0.66 bps There weren't any fireworks to wrap up the week and price action was bland late in the day, likely because of […]

A look at this week's FX performance The New Zealand dollar was the top performer this week while the yen lagged. The classic risk-on trade outperformance was reflected in US stocks, which are on track for their best week in the past month-and-a-half.

Reuters report on the vaccine trial The US plans a massive round of phase 2 vaccine trials in an effort to speed up the timeline for vaccine development to have a mass candidate ready by year-end.

Trump bails after quick announcement Trump spoke for less than a minute and then exited stage-right. His press secretary is now doing her thing. In terms of markets, the comments were a non-event.

Not Hong Kong centric The main point of the press conference is to announce reopening guidelines for churches, according to a Bloomberg report. But Trump being Trump, that certainly won't be all.

Baker Hughes weekly rig count Drilling rigs continue to fall. WTI is down 98-cents to $32.94 today but prices are still up dramatically in a month. The speed with which supply has matched the drop in demand is unbelievable to me. See here for global coronavirus case data