MonsunAsia

MonsunAsia Updated 

EUR - BULLISH 1️⃣ The dollar is pressured amid fiscal stimulus uncertainty, Sino-American tensions, and weak US data. 2️⃣ PMI data confirmed the Eurozone private sector activity grew in July by the most since June 2018 while the retail trade report showed the bloc's sales bounced back to pre-pandemic levels. 3️⃣ The euro enjoyed its best month in a decade during...

MonsunAsia Updated 

GBP - BULLISH 1️⃣ Investors dumped riskier assets and turned to safety amid renewed concerns about US-China relations after President Trump banned transactions with Chinese tech group Tencent and with the owner of TikTok ByteDance, citing a threat to national security. 2️⃣ Bank of England left monetary policy unchanged, saying Britain's economy will take more time...

MonsunAsia Updated 

EUR - BEARISH 1️⃣ Investors turned to the greenback amid escalating tensions between the world's largest economies after President Donald Trump banned US transactions with two of the most popular Chinese apps, citing national security reasons. CHF - BULLISH 1️⃣ Swiss consumer confidence index improved from a record low. 2️⃣ Diminishing hopes of a swift US...

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AUD - BEARISH 1️⃣ Rising tensions between Washington and Beijing saw investors retreat from the risk sensitive Aussie. 2️⃣ Heightened concerns over another COVID-19 outbreak in Australia continue to weigh on the AUD. 3️⃣ Reserve Bank of Australia warned that its economy would fall by 6% over 2020 before rising by 5% next year and 4% in 2022 due to extreme...

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USD - BEARISH 1️⃣ ADP reporting significantly weaker than expected private payroll growth in July (167K vs. 2.3 million forecast). 2️⃣ The employment component of non-manufacturing ISM dropping to 42.1 from 43.1, all signs point to a slowdown in labor market recovery last month. 3️⃣ The US government is expected to deliver a new stimulus plan by the end of the...

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NZD - BULLISH 1️⃣ The unemployment rate handily beat the 5.6% forecast coming in at 4.0% and helped to push kiwi to trade well. 2️⃣ RBNZ Survey of Business Expectations for July revealed that inflation expectations over the next year returned to 1.03% from 0.74%, while business leaders are slightly more optimistic about underemployment. USD - BEARISH 1️⃣ ADP...

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NZD - BULLISH 1️⃣ The unemployment rate handily beat the 5.6% forecast coming in at 4.0% and helped to push kiwi to trade well. 2️⃣ Risk-on market sentiment after top Democrats and negotiators from the White House say a deal on a coronavirus stimulus package could be reached by the end of the week and approved as early as the following week. JPY - BEARISH 1️⃣...

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EUR - BULLISH 1️⃣ PMI data confirmed the Eurozone private sector activity grew in July by the most since June 2018 while the retail trade report showed the bloc's sales bounced back to pre-pandemic levels. 2️⃣ ADP report showed the US private sector added nearly 170K jobs during last month, missing consensus badly. 3️⃣ The euro enjoyed its best month in a decade...

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EUR - BULLISH 1️⃣ Euro remained well supported by the latest optimism over a landmark agreement on the EU's €750 billion pandemic recovery fund – aimed at aiding the region’s worst-hit economies. 2️⃣ The IHS Markit Eurozone Manufacturing PMI was revised higher to 51.8 in July 2020. 3️⃣ Industrial producer prices in the Euro Area rebounded 0.7% from a month...

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NZD - BEARISH 1️⃣ Market participants expect the New Zealand's Unemployment Rate in the second quarter to rise from 4.2% to 5.8% with the Employment Change declining by 2%. 2️⃣ Risk-off market sentiment expected as surging coronavirus infection rates across the US dampens investor hopes of economic recovery. USD - BULLISH 1️⃣ Safe-haven demand was supported by a...

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AUD - BEARISH 1️⃣ The RBA struck an overall cautious tone with the dominant focus for the central bank remaining on the coronavirus outbreak - the greatest risk to Australia's economic outlook. 2️⃣ RBA forecasts a 6% drop in GDP over 2020, and given the country's spare capacity, the RBA expects inflation to undershoot its 2-3% target for the next two years. 3️⃣...

MonsunAsia Updated 

EUR - BULLISH 1️⃣ Euro remained well supported by the latest optimism over a landmark agreement on the EU's €750 billion pandemic recovery fund – aimed at aiding the region’s worst-hit economies. 2️⃣ The IHS Markit Eurozone Manufacturing PMI was revised higher to 51.8 in July 2020. AUD - BEARISH 1️⃣ Consumer prices in Australia declined by 0.3% year-on-year in Q2...

MonsunAsia Updated 

EUR - BULLISH 1️⃣ Euro remained well supported by the latest optimism over a landmark agreement on the EU's €750 billion pandemic recovery fund – aimed at aiding the region’s worst-hit economies. 2️⃣ The IHS Markit Eurozone Manufacturing PMI was revised higher to 51.8 in July 2020. NZD - BEARISH 1️⃣ NZ joining the throng of countries cutting extradition ties with...

MonsunAsia Updated 

USD - BULLISH 1️⃣ Safe-haven demand was supported by a resurgence in coronavirus infections and geopolitical tensions between the US and China. 2️⃣ July U.S. ISM manufacturing highest since March 2019. CAD - BEARISH 1️⃣ Flash data from Canada’s statistical office showed the GDP will likely shrink by a record 12% in Q2 due to coronavirus lockdowns. 2️⃣ Crude oil...

MonsunAsia Updated 

AUD - BEARISH 1️⃣ Australia's Victoria state Premier confirmed a record 723 additional coronavirus cases and announced that face masks are now mandatory across the state, while there were later comments from Australian PM Morrison that the coronavirus spike in Victoria state is very concerning. 2️⃣ Consumer prices in Australia declined by 0.3% year-on-year in Q2...

MonsunAsia Updated 

CAD - BEARISH 1️⃣ Oil prices dropped over 1% on Thursday amid concerns that second wave of COVID-19 infections could hinder fuel demand recovery. 2️⃣ A turnaround in the global risk sentiment as depicted by a sharp fall in the equity markets. JPY - BULLISH 1️⃣ The Japanese Yen gains as accelerating coronavirus infection rates continued to dampen hopes of...

MonsunAsia Updated 

EUR - BEARISH 1️⃣ European stock markets traded mostly lower as investors fear that a second wave of infections in Europe could dampen the economic recovery. 2️⃣ The Eurozone's largest economy (Germany) contracted by 10.1% during the second quarter of 2020. 3️⃣ Euro area unemployment up to 7.8% in June. CHF - BULLISH 1️⃣ The recent escalation in diplomatic...

MonsunAsia Updated 

USD - BEARISH 1️⃣ FED warned that ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term. 2️⃣ Doubts on the US strong economic recovery and uncertainties regarding the $1 trillion stimulus package proposed by Senate Republicans, as...