Fundamental view: The US dollar has rallied significantly during the course of the week. As per the previous week report, In light of ADP's 174,000 new workers on a 49,000 forecast and after an excellent week of US January statistics, including Manufacturing Employment PMI at an 18-month high and Jobless Claims at a nine-week low, data suggested a [...]
Fundamental view: As the corona virus crisis became the primary driver of financial markets last March, the greenback adopted the role of a safe-haven and formed a strong inverse correlation with major equity indexes in the US. Amid strong upbeat macroeconomic data releases and the coronavirus vaccine rollout, the above-mentioned correlation seems to have started [...]
Fundamental view: Pound formed a rally against greenback in the past week. The BOE has shut the door on negative rates. The Bank of England will continue working on the technicalities of negative rates, but it has also assured investors that the topic is off the table. BOE Governor Andrew Bailey and his colleagues have also raised their [...]
Fundamental view: The Australian dollar has gone back and forth during the week. The greenback was the clear weekly winner, appreciating sharply against most of its major rivals. Aussie’s declines were limited by the equities positive momentum, as Wall Street flirted with record highs. Market players were optimistic amid progress in US President Joe Biden’s [...]
