Blogs

The USD is mostly/modestly lower As NA traders enter for the day, the NZD is the strongest of the major currencies. The JPY is weakest.  That was the same ranking of the extremes at the close of trading yesterday. In fact. the CHF and USD have the same ranking at the close as well.  Despite […]

EUR/USD rises to a session high of 1.0975 See here for global coronavirus case data The dollar and yen are continuing to stay pressured on the session, with the euro among the lead gainers as we see EUR/USD make fresh two-week highs of 1.0975 currently.

Can buyers keep the run higher from yesterday going? See here for global coronavirus case data Despite stocks pulling back on the session, major currencies are still sticking with dollar and yen weakness as the key theme for the most part in European morning trade.

USD/JPY rises to a session high of 107.59 See here for global coronavirus case data The yen has eased on the BOJ announcement calling for a meeting this Friday to discuss on new measures to provide funds to the financial system.

No market-moving comments from Powell yet Powell for the past two weeks has been on a campaign to pressure Congress to do more. The House passed a $3 trillion bill but the Senate has no interest in it. They say they want to exhaust current programs first.

Comments from Powell in the Q&A: Separately, the Fed's Kashkari is also speaking and said that 'strong' growth in the US is probably a year or two away. See here for global coronavirus case data

Opening statement from Powell was published late yesterday Senators are doing the usual long-winded introductions, then Powell will deliver a long-winded speech and Mnuchin will do his thing. Once all that is done, we will get a Q&A and might get something interesting.

Comments from the ECB's chief economist: The ECB is in a battle to convince the world (and German courts) that it has the power to stem the decline in the economy and the long-term problems in the eurozone.

Comments from governor Nabiullina: The Bank of Russia's key policy rate is at 5.50% and the next scheduled meeting is June 19. Russia is being hit hard by COVID-19 at the moment, with more than 9000 cases yesterday.

BOJ to hold an unscheduled monetary policy meeting this week See here for global coronavirus case data Their next policy meeting was supposed to be on 16 June but Kuroda had already hinted that they were looking to do something like this before that meeting .