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New Overnight Developments Abroad – Daily Update

U.K./EU Trade Talks and U.S. Fiscal Stimulus Negotiations Getting Late

December 2, 2020

Time is fast running out for post-Brexit trade talks between the European Union and British government and for U.S. congressional fiscal stimulus negotiations. Both of these remain bogged down, and failure to compromise would have adverse short-term economic implications. Investors are becoming more uneasy. Sterling dropped 0.9% against the dollar overnight, and U.S. and European […] More

Start of a Fresh Month Sees Dollar Drop and Share Prices Resume Their Rise

December 1, 2020

A slew of manufacturing purchasing manager surveys taken in November were released today. Fed Chairman Powell and Treasury Secretary Mnuchin testify before the Senate Banking Committee today on the Cares Act. After dipping on Sunday, Covid cases and the death count turned upward over the past 24 hours both globally and in the United States. […] More

End of November Brings Many Data Reports and Stock Market Pause

November 30, 2020

Dollar losses overnight amounted to 0.4% against sterling, 0.3% versus the loonie, and 0.2% relative to the euro and kiwi. The greenback also rose 0.2% against the Australian dollar and 0.1% vis-a-vis the yen and peso. There’s been no net change against the yuan or Swissy. Some profit-taking took place in stock market trading overnight […] More

Narrowly Mixed Dollar… Economic Sentiment in Euro Area at 4-Month Low

November 27, 2020

The United States on Thankgiving 2020 reported slightly more than a 100,000 new Covid-19 cases and suffered over 1150 deaths from that disease. Extensive traveling for the holiday is feared likely to fan the pandemic further next month. The dollar overnight edged up 0.2% against sterling and 0.1% versus the yen and Swissy but slid […] More

Dollar Up Marginally, Stock Markets Mixed, and Americans Observe Thanksgiving Day

November 26, 2020

The U.S. Thanksgiving holiday is depriving financial markets of some degree of leadership. The dollar overnight drifted up 0.1-0.2% against the euro, loonie, yen, kiwi, Swiss franc and Australian dollar. The U.S. currency rose a bit more against the peso (0.4%) and sterling (0.3%). Stock markets in Asia closed up 1.4% in Indonesia, 1.0% in […] More

America Releasing a Lot of Data and Bracing for Holiday Impact on Pandemic

November 25, 2020

Trading was comparatively quiet overnight. The dollar recorded gains of 0.4% against the New Zealand and Australian currencies and also rose 0.2% relative to the loonie and sterling. The euro is down 0.1% on net but not before touching a 12-week high of $1.1929. The dollar is flat against the yen and had slipped 0.2% […] More

Investor Mood Lifted by Vaccine Hopes and U.S. Transition Go-Ahead

November 24, 2020

The U.S. dollar is grinding lower but slowly and in an orderly fashion. The currency dropped 0.8% and 0.7%, respectively, overnight against the New Zealand and Australian dollars overnight but by only 0.2% relative to the euro and loonie, and it held steady versus the yen and sterling. Favorable vaccine news has created a sense […] More

Share Prices Up and Dollar Down on Favorable Covid Vaccine News

November 23, 2020

A third Covid-19 vaccine has been found to be quite effective in trials, and Regeneron’s antibody therapeutic treatment has received authorization for emergency use against the disease. Global cases are fast approaching the six million mark, 21% of which in the United States. After spiking to nearly 200k last Friday, new U.S. cases fell Saturday […] More

Trump Fans Political Chaos but Dollar Slippage Stays Orderly

November 20, 2020

The Trump campaign is continuing to try to discredit election results in several states. If it can persuade some key states not to certify Biden’s win, the President-Elect could fall short of the needed 270 electoral votes, throwing the election decision back to state legislatures, the House of Representatives, and perhaps the Supreme Court. The […] More

Correlation Between Covid Cases and the Dollar

November 19, 2020

The dollar has frequently benefited from intensifying Covid infections and the rise in general uncertainty that accompanies such. Today has been one of those days. New coronavirus cases in the United States topped 170k yesterday, but the increase over the last 24 hours as of this writing is in fact just shy of 180,000. And […] More

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