More likely his opening the taps to 'drown' but, appearing on 60 Minutes, with a sneak preview offered up earlier: From Adam's post: The real question — and that's what Powell is touching on here — is that when we get back all the growth that was lost in the pandemic. Powell being a touch […]
Blogs
ANZ expect further RBNZ easing: To increase QE bond buying to NZD 90bn
Last week the Reserve Bank of New Zealand announced a (near) doubling of their quantitative easing program – From 33bn to 60bn NZ dollars ANZ expect even more to come, placing the expansion in the contest of the :
ICYMI – Weekend report of Bank of England considering negative rates
I posted over the weekend re the UK press on the Bank of England and negative rates: In very early trade GBP is lower, circa 1.2078 as I update (please check out the ).
Fed's Powell says economy will recover 'steadily' through 2nd half of 2020
Powell on CBC's 'Face the Nation' An improvement in the second half is inevitable, if only because of the crippling extent of the contraction in Q2 but that's the wrong way to think about it. The real question — and that's what Powell is touching on here — is that when we get back all […]
Dollar eases slightly to kick start the session
The dollar and yen find themselves on the back foot again See here for global coronavirus case data Cable has moved to a session high of 1.2247, rising from levels closer to 1.2200 just an hour ago as the dollar slips across the board to start European morning trade.
US stocks surge on increased hope for a coronavirus cure
Moderno coronavirus vaccine passes phase 1 targets Before the opening, Monderno announced that phase I tests for a coronavirus vaccine were positive. That helped to send the Dow industrial average up around 600 points in premarket trading. It is ending the session with the index moving up over 1
CAD and AUD trade to new session highs vs. the USD
USDCAD reaches a new low. AUDUSD reaches a new high The USDCAD is reaching a new session high, and the AUDUSD is reaching a new low (so new highs vs the USD).
US 10 year yields rises sharply but remains in up and down range
10 year yiled up about 9 bps on the day The US 10 year yield has arisen about 9 basis points to 0.7322%. It's high yield reached 0.7421%. Looking at the daily chart below, the yield has been between 0.539% and 0.782% since March 30 with a number of up and down moves. Last Friday, the yields moved […]
WTI July Crude oil futures settle at $31.65
July crude oil settles up $2.13 or 7.21% – WTI crude oil futures for June delivery settle up $2.39 or 8.12% at $31.82. The high price reached $33.32. The low extended down to $29.53 The June contract will settle in golf the board tomorrow. Most of the price action is in the July contract.
The NZD is the strongest of the majors. The NZDJPY is the strongest currency pair
Up 1.89% on the day The NZD – on risk no flows – is leading the way as the strongest of the major currencies. It is higher vs all the major currencies with the largest gain vs the JPY. The NZDJPY is up 1.89% on the day (was up close to 2% at the highs).