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Markets subdued in risk climate with no coronavirus updates

Markets subdued in risk climate with no coronavirus updates

Improving risk appetite weighed on the US dollar yesterday and overnight, as the greenback sold off against NZD, AUD, RUB, and most other major currencies. Fed Chair Jerome Powell testified to lawmakers from the House on monetary policy and warned of risks to the global economy from the coronavirus infection.

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Sajid Javid sets out UK’s ambition for equivalence agreement with EU

Sajid Javid sets out UK’s ambition for equivalence agreement with EU

GBP saw a slight rally yesterday and overnight, amid a major leak of part of the UK’s negotiating position in trade talks with the EU, and ahead of today’s release of gross domestic product data. The “opening position” of the UK was snapped by a long-lens camera while an unreleased briefing paper was carried into downing street, and is being widely reported on in UK newspapers.

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PBOC toolkit prevents panic

PBOC toolkit prevents panic

Chinese authorities rolled out a now-familiar crisis response strategy to prevent panic in financial markets last week. Repo rates were cut by 10 basis points on Monday, and a net 550 billion yuan was pumped into repo markets over the first two days of the week. CNY...

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The Riksbank’s return to zero – was it wise?

The Riksbank’s return to zero – was it wise?

Next week marks the first Riksbank meeting since December’s decision to hike the repo rate by 25 basis points and return policy to 0%. While the central bank signalled heavily that the return to zero would occur in either of the December or February meetings, the decision to hike rates sooner rather than later wasn’t unanimous.

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PBOC liquidity injection supports risk appetite

PBOC liquidity injection supports risk appetite

Overnight China’s central bank began providing targeted lending aimed at enabling banks to provide cheaper and faster credit to businesses involved in combating the Coronavirus outbreak, and against shoring up risk appetite globally.

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Greenback roars with NFP in scope

Greenback roars with NFP in scope

The weighted DXY index of USD vs major currencies is trading at a high for the year, and is on track to enjoy its biggest weekly gain since September. Today’s non-farm payrolls report, therefore, will be facing high expectations when it is released at 13:30 GMT.

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Meet the team

Ranko Berich

Ranko Berich

Head of Market Analysis

Ranko Berich heads up the team of analysts at Monex Canada and Monex Europe. The analysis team provide timely insight and commentary on developments in currency movements and their drivers.
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Simon Harvey

Simon Harvey

FX Market Analyst

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Olivia.Alvarez

Olivia Alvarez

FX Market Analyst

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