Currencies
The price action of the currency pair USDINR hints at further strengthening of INR and moreover, the dollar index indicates a weak dollar. This helped the rupee advance versus the greenback.Dollar indexThe dollar index registered a loss of 0.6 per cent last session as it closed below the support of 92. But one of the interesting things about the latest dose of euro strength is that it has come even as yield differentials rose in the dollar s favor. A bullish stock market, a high dollar index, and low unemployment mean nothing and are unsustainable if generated by false methods and fiat money.
Most importantly, note that the euro moved above 1.20 to the dollar on Tuesday, for the first time since 2018. Tuesday’s dollar slide came despite a spike higher in Treasury yields, an unusual divergence that is unlikely to be sustained if bonds continue to sell off. This trade deficit could continue to grow into 2021 putting steady downward pressure on the dollar, in theory.
This shows that the dollar index is witnessing strong downward momentum and it is likely to move down further. A cheaper dollar makes life much easier for emerging markets that have borrowed in dollars, and eases the existence of big U.S. multinationals. When the global economy is generally healthy, we can expect the dollar to weaken, and that is also exactly what we have.
Most importantly, note that the euro moved above 1.20 to the dollar on Tuesday, for the first time since 2018. Tuesday’s dollar slide came despite a spike higher in Treasury yields, an unusual divergence that is unlikely to be sustained if bonds continue to sell off. This trade deficit could continue to grow into 2021 putting steady downward pressure on the dollar, in theory.
This shows that the dollar index is witnessing strong downward momentum and it is likely to move down further. A cheaper dollar makes life much easier for emerging markets that have borrowed in dollars, and eases the existence of big U.S. multinationals. When the global economy is generally healthy, we can expect the dollar to weaken, and that is also exactly what we have.
Oil
If oil prices turn bullish, FANG could eventually retest its top at $47.0-$47.5, at which point I recommend selling about 30%+ of your position assuming a profit. One interesting element that I found in the presentation is the free cash flow sensitivity to the West Texas oil price. Average oil composite in 3Q’20 (unhedged) was $26.75, down 26.9% from a year ago quarter and up 16.6% sequentially. The average oil composite hedged was $26,22 per barrel. The main culprit is, of course, the weaker average oil price realization.
According to Baker Hughes, the weekly oil rig tally was 161, higher than the prior-week count of 156, increasing for over five weeks in a row. The price of West Texas Intermediate crude is now $45.21 per barrel. The percentage of oil is 59.2% in 3Q’20.
According to Baker Hughes, the weekly oil rig tally was 161, higher than the prior-week count of 156, increasing for over five weeks in a row. The price of West Texas Intermediate crude is now $45.21 per barrel. The percentage of oil is 59.2% in 3Q’20.
United States
Boockvar also said that if growth picks up and the vaccine accelerates that process, we’ll see the market tighten for the Fed. After last quarter’s strong growth, bears are betting on a repeat net revenue decline: Since revenue is growing well in the U.S., Netgear’s subscription sign-ups should improve. All banking stocks have been taking a beating ever since monetary policy structures changed in 2018, with the Fed continuously slashing interest rates.
2019, in particular, was a bad year for banks as the Fed cut interest rates thrice. The Fed expects to start increasing the rates in 2023, or until the economy has shown a full recovery, whichever is earlier. There would seem to be limited upside in the short term as long as the Fed sticks with its dovish stance. Altimmune, Inc. (NASDAQ:ALT) is a clinical stage biopharmaceutical company, focused on developing treatments for liver disease, immune modulating therapies, and vaccines. (KRE) (NYSEARCA:IAT) (NASDAQ:FTXO) (NYSEARCA:KBE) (NASDAQ:QABA) Source: Morningstar From the table below, we can see that KRE is the largest ETF tracking regional banks when measured by AUM.
While this Act is expected to pass in the Democratic-controlled U.S. House of Representatives, it will most likely not pass the Senate at least during the Trump presidency. After the 2003 invasion of Iraq, the US government commissioned a report on the MEK from inside their former headquarters at Camp Ashraf.
2019, in particular, was a bad year for banks as the Fed cut interest rates thrice. The Fed expects to start increasing the rates in 2023, or until the economy has shown a full recovery, whichever is earlier. There would seem to be limited upside in the short term as long as the Fed sticks with its dovish stance. Altimmune, Inc. (NASDAQ:ALT) is a clinical stage biopharmaceutical company, focused on developing treatments for liver disease, immune modulating therapies, and vaccines. (KRE) (NYSEARCA:IAT) (NASDAQ:FTXO) (NYSEARCA:KBE) (NASDAQ:QABA) Source: Morningstar From the table below, we can see that KRE is the largest ETF tracking regional banks when measured by AUM.
While this Act is expected to pass in the Democratic-controlled U.S. House of Representatives, it will most likely not pass the Senate at least during the Trump presidency. After the 2003 invasion of Iraq, the US government commissioned a report on the MEK from inside their former headquarters at Camp Ashraf.
China
Yet Stoltenberg also tried to temper what Beijing will no doubt see as a hostile posture, also saying at the briefing, “China is not our adversary.
Europe
Incredibly DelicateBritish and EU negotiators are racing to strike a post-Brexit trade deal before the end of the week. Earlier, the country had invoked a special rule allowing it to bypass EU health authorities to speed up vaccines’ clearance. The EU’s European Medicines Agency said it could issue an opinion within weeks, with a meeting for its assessment scheduled for Dec. 29 at the latest. Countdown to BioNTech’s vaccine, a delicate stage in post-Brexit trade talks and signs of a bidding war for G4S.
The next few days are crucial, with the U.K. and EU teams hoping that an agreement can be reached on Friday or over the weekend.
0 The next few days are crucial, with the U.K. and EU teams hoping that an agreement can be reached on Friday or over the weekend.
