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February 4, 2021
Daily FX Market Roundup 02.04.2021
By Kathy Lien, Managing Director of FX Strategy for BK Asset Management
Investors have been bidding up the US dollar all week and now they are wondering if Friday’s non-farm payrolls report could drive EUR/USD to fresh 2 month lows or USD/JPY above 106. NFPs are the most important piece of data for the US this week but over the past year, we’ve seen a diminishing impact on currencies. That mostly had to do with vaccine optimism and how it led investors to shrug off weaker numbers. However this month, non-farm payrolls are expected to improve with job growth returning. In December, 140,000 jobs were lost and tomorrow, US companies are expected to restore 50K jobs. As illustrated by the details below, there are many reasons to expect a stronger release that should encourage further gains in the greenback.
1/31/2021 3:43:22 PM GMT
This week should be a wake up call for all investors. The market disruption caused by retail traders swapping ideas over reddit and squeezing out major hedge funds is unprecedented but corrections after record highs in stocks are not. For the past year, equities barreled to new milestones on a monthly basis and as this trend continued, the risk of a correction grew. However, the vaccine kept investors and central bankers confident that a strong recovery is ahead. But when rallies are as extended as the ones we’ve seen last year in stocks, it rarely takes much to spook investors into taking profits. The sharp sell-off this week was triggered by the GameStop frenzy and now that market participants no longer see a one way rally, FX traders should brace for more volatility.
January 29, 2021
Daily FX Market Roundup 01.29.2021
By Kathy Lien, Managing Director of FX Strategy for BK Asset Management
This week should be a wake up call for all investors. The market disruption caused by retail traders swapping ideas over reddit and squeezing out major hedge funds is unprecedented but corrections after record highs in stocks are not. For the past year, equities barreled to new milestones on a monthly basis and as this trend continued, the risk of a correction grew. However, the vaccine kept investors and central bankers confident that a strong recovery is ahead. But when rallies are as extended as the ones we’ve seen last year in stocks, it rarely takes much to spook investors into taking profits. The sharp sell-off this week was triggered by the GameStop frenzy and now that market participants no longer see a one way rally, FX traders should brace for more volatility.