Gold has been one of the standout performers during 2020, rising from around $1500 an ounce to a whopping $2075 an ounce in August. However, with the precious metal having broken out of previous all-time…
Decisions taken by the Governing Council of the…
Market operations Review of the mapping of short-term ratings to the Eurosystem’s harmonised rating scale On 26 June 2020 the Governing Council decided to remap the short-term ratings “R-3”, “P-3” and “A-3” of DBRS Morningstar,…
Trump Election Delay Tweet, US GDP Record Plunge…
Summary: The Dollar extended its slide after US Q2 GDP plunged a record 32.9% annualized rate, slightly better than expected (-34.5%). It was still the deepest drop since the government began records in 1947. A…
The Daily Fix
Trader thoughts - big tech brings out the big guns We close the month of July with the usual talk of month-end portfolio re-balancing, but ultimately, we’ve been left with a damp picture during US cash trade, yet US…
ECB announces organisational changes to strengthen banking supervision
ECB aims to strengthen cooperation between bank-specific and thematic supervisory teams New structure reinforces supervisory strategy and risk function, ensuring consistency of supervisory outcomes Reorganisation to foster transparency and predictability of supervisory actions The European…
Fed Satisfies the Doves, Dollar Extends Losses, Euro…
Summary: The Dollar extended its broad-based losses after US Federal Reserve repeated its pledge to use “it’s full range of tools” to support the economy and warned that virus poses considerable risks to the outlook.…
Euro Soars Ahead, Yen Joins In, Ongoing US…
Summary: The Euro outperformed, hitting fresh 2-year highs (1.17813) and leading a broad-based FX rally against the US Dollar. Gold soared to a record high (USD 1,945.63), as safe-haven flows continued to divert away from…
Olli Rehn: To what extent should the State…
Ladies and Gentlemen, distinguished fellow panellists, It is a great pleasure to participate in this year's Les Rencontres Economiques d'Aix-en-Provence/Seine to discuss current challenges facing our societies, and the role of the state during and…
Dollar Sell-Off Intensifies, AUD, EUR, NZD Surge Lead…
Summary: The US Dollar sell-off intensified as bearish sentiment toward the Greenback grew with no specific catalyst for the slide. European Union leaders agreed unanimously on a EUR 750 billion coronavirus recovery fund that had…
