 Global stock markets somewhat strengthened last week as most countries continued with their coronavirus lockdown exit plan. Yet, with the exception of NASDAQ, major indices were capped below prior week's high. Tensions between US and China remained a major focus. News flows on the topic were confusing. US Trade Representative issued a formal statement regarding a phone call between top officials of the two countries, saying that progress were made in trade deal implementation. But President Donald Trump sounded non-committal. In the currency markets, Australian Dollar ended as the strongest ones. But just like stock indices, it's kept below prior week's high. Aussie pairs, in particular, AUD/JPY would be seen by us as a major gauge of risk sentiment for the near term. Dollar suffered some selling on talk of negative Fed interest rates by 2021. But European majors were generally weaker. Dollar index and Gold were also range bound only. The greenback hasn't take up a clear direction yet. |
No comments:
Post a Comment