Hussein Sayed

    Recovery: A bumpy road ahead

Recovery: A bumpy road ahead

The world has finally seen a glimpse of light at the end of this dark tunnel. The coronavirus outbreak is starting to level off across many countries and cities. Looking at the new daily infected cases and the death toll from Spain, Italy, Germany and France, all of those countries seem to be heading into a downward trajectory. Meanwhile, in the [...]

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    Emerging market currencies pressured, but Naira stable

Emerging market currencies pressured, but Naira stable

The Naira has entered the trading week on a firm footing despite a stabilizing Dollar and global trade tensions pressuring emerging market currencies. There is a suspicion that the Naira’s stability could be based on continual intervention from the Central Bank of Nigeria. June was certainly a cruel trading month for emerging market currencies and this negativity could roll over into [...]

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    Bulls are back in town, thanks to US employers

Bulls are back in town, thanks to US employers

The NASDAQ composite index climbed to a fresh record after the release of Friday’s jobs report. The S&P 500 is 10 percent higher from the trough recorded on February 9, and fixed income markets aren’t showing any signs of anxiety, with US 10-year bonds yields remaining well below the three percent critical level. Appetite for risk spread to Asian markets today with the [...]

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    Investors unmoved by the US government shutdown

Investors unmoved by the US government shutdown

The US government entered its third day of shutdown after US Congress failed to arrive at a short-term budget deal. Although the story has been a major talking point among media, investors don’t seem too worried about the impact on their investments. Price action in most asset classes suggests that financial markets are growing increasingly immune to America’s political drama. Although a [...]

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    Bitcoin future trading kicks off; investors awaiting central banks decisions

Bitcoin future trading kicks off; investors awaiting central banks decisions

Trading bitcoins entered a new phase today, after Chicago’s CBOE listed the first futures contract on the cryptocurrency. The initial reaction was beyond expectations with the futures contract climbing more than 20 percent and triggering two trading halts. CBOE’s website experienced unprecedented traffic which may well have sent a new benchmark; the frenetic activity led to delays and outages. So far, [...]

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    Equities slide ahead of a busy week, oil under the radar

Equities slide ahead of a busy week, oil under the radar

Despite a record high close on the S&P 500 on Friday, Asian equities edged lower, led by Korean markets. Chinese stocks continued to decline after having the biggest one-day selloff in 17 months on Thursday, as rising government and corporate bond yields signaled tighter liquidity conditions. Whether the selloff is a slight correction after a strong surge in 2017, or steeper [...]

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    If bonds are right, a steep equity correction is underway

If bonds are right, a steep equity correction is underway

2017 has seen many hedge fund and portfolio managers send warning signals that an equity market correction is overdue. Overstretched valuations, tighter monetary policies, geopolitical risks, a slowdown and high debt levels in China and low inflation, are some of the factors that could potentially trigger a market correction. However, all of these warnings are being ignored, and stocks continue to [...]

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    Dollar falls despite hawkish Fed, BoE next

Dollar falls despite hawkish Fed, BoE next

Despite a relatively hawkish statement from the federal reserve on Wednesday, the dollar edged lower against its major peers early Thursday. The assessment of economic activity seemed to have given the green light for a December rate hike. Policy makers see economic activity rising at a solid rate, despite hurricane-related disruptions. No amendments were made on household spending and business fixed investment, [...]

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    Financial markets quiet, bitcoin in focus

Financial markets quiet, bitcoin in focus

Financial markets appeared relatively quiet on Tuesday, as investors positioned themselves ahead of a multitude of key risk events later in the week. In Asia, stocks concluded mostly higher, while European shares struggled for direction amid the heightened political drama in Spain. With Mario Draghi in the spotlight on Thursday, and a vote in Spain’s national Senate on Catalonia’s takeover this Friday, [...]

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    Asian equities flat as China’s GDP meets expectations

Asian equities flat as China’s GDP meets expectations

Equities across the Asian markets were trading in a tight, narrow range on Thursday, ignoring solid Chinese data and the new records on Wall Street, where the Dow Jones Industrial Average breached 23,000. FX markets are also struggling for direction, as traders look for signals from E.U. politics, and signs for who will lead the Federal Reserve. China’s economic growth meets expectations China’s [...]

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    Dollar’s rally stall: Oil and bitcoin on the move

Dollar’s rally stall: Oil and bitcoin on the move

After enjoying a 4-week rally, the dollar came under pressure last week, falling against most of its major peers, leaving many traders questioning whether the most recent bull run is over for the greenback. Although U.S. consumer prices rose 0.5% in September, the biggest increase in eight months, when stripping out food and energy, core CPI only recorded a 0.1% increase, [...]

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    It is all about inflation

It is all about inflation

When the Federal Reserve met on 19-20 September, it announced the start of winding down the $4.5billion balance sheet and maintained plans for a third rate hike in 2017. The statement reflected confidence in economic activity, particularly the pickup in household spending and growth in business investments. Despite Hurricanes Harvey and Irma, the central bank was still confident that the U.S. [...]

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    Dollar slips further from 10-week high; is the rally over?

Dollar slips further from 10-week high; is the rally over?

The dollar index fell for a third consecutive day early Tuesday, despite market expectations of a rate hike in December, hovering near 90%. Since September 8, the index has rallied almost 3% in a clear sign that the greenback has finally found its feet, after declining more than 12% from January highs. However, investors have almost wholly priced in a third-rate [...]

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    Politics and central bankers to drive the markets this week

Politics and central bankers to drive the markets this week

Angela Merkel has secured her fourth term as German chancellor, but politics in Europe’s largest economy is becoming more complicated. When Emmanuel Macron won the French presidency by a decisive margin over Marine Le Pen, many investors thought that this was the end of the populist tide – it now seems they were wrong. The rise of a populist, far-right [...]

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    Gold finally breaks above $1300. Will the euro follow?

Gold finally breaks above $1300. Will the euro follow?

Equities across the globe traded mostly in the red on Tuesday, after North Korea launched a ballistic missile over Japan. Although investors have become sensitized to such actions by Kim’s regime, firing missiles over Japan is a rare occurrence and the message appears to be that North Korea is ready to escalate tensions. Despite the fall in equities and rally in safe [...]

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    Key things to watch as we start a new trading week

Key things to watch as we start a new trading week

The Euro made most of the headlines on Friday, after extending gains to a 2.5 year-high and approaching the 1.2 key psychological level.  The single currency has appreciated more than 13.4% since the beginning of the year, and many traders were looking for a signal to cover their long Euro positions. However, ECB President Mario Draghi didn’t provide this opportunity; failing [...]

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NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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