Fundamental view: The vaccines are coming – we’re saved! Although the arriving vaccines are great for humanity, they are bad for the price of gold. In November, Pfizer and BioNTech announced that their mRNA-based vaccine candidate, BNT162b2, had demonstrated evidence of an efficacy rate above 90% against COVID-19, in the first interim efficacy analysis. At the start of the week, [...]
Fundamental view: The British pound has gotten hit rather hard during the week, after trying to be somewhat optimistic. Meeting between Boris and Ursula has produced nothing. No deal at dinner but perhaps over the weekend? A nerve-wracking week concludes with growing fears Brexit talks could collapse. Apart from the all-important deliberations, rate decisions on both sides of the [...]
Fundamental view: Australian dollar has rallied significantly during the week. The United States is currently debating a stimulus package, which is normally bad for the US dollar and of course good for commodities which the Aussie dollar represents and this favored the Aussie in the last week. In the past week, US Revised Nonfarm Productivity [...]
The Australian Dollar surged to the upside on Thursday, hitting a 2-1/2 year peak, on strong iron ore prices. The Aussie was also helped by a weaker U.S. Dollar, which fell in reaction to the release of weaker-than-expected jobless claims data, which increased the urgency for U.S. lawmakers to push through new fiscal stimulus before [...]
