How the U.S. dollar’s ‘almost silent slide’ is juicing the stock-market rally

Investors might not have noticed amid all the excitement, but a stealthy slide by the U.S. dollar should get some of the credit for the stock market’s stunning rally.

Investors might not have noticed amid all the excitement, but a stealthy slide by the U.S. dollar should get some of the credit for the stock market’s stunning rally.

ECB expands PEPP asset-buying program to 1.35 trillion euros

The European Central Bank, as expected, boosted the size of its Pandemic Emergency Purchase Program on Thursday. The ECB said the envelope for asset purchases was increased by 600 billion euros ($674.5 billion), to 1.35 trillion euros. The program is now set to run through at least the end of June 2021, versus the end of 2020, while maturing principal payments from assets purchased under the plan will be reinvested until at least the end of 2022, the ECB said. The ECB left interest rates unchanged, with the deposit rate at -0.5% and the main refinancing rate at 0%. ECB President Christine Lagarde will hold a news conference at 8:30 a.m. Eastern.

The European Central Bank, as expected, boosted the size of its Pandemic Emergency Purchase Program on Thursday. The ECB said the envelope for asset purchases was increased by 600 billion euros ($674.5 billion), to 1.35 trillion euros. The program is now set to run through at least the end of June 2021, versus the end of 2020, while maturing principal payments from assets purchased under the plan will be reinvested until at least the end of 2022, the ECB said. The ECB left interest rates unchanged, with the deposit rate at -0.5% and the main refinancing rate at 0%. ECB President Christine Lagarde will hold a news conference at 8:30 a.m. Eastern.

There’s a danger in the disconnect between complacent markets and weak fundamentals, analyst warns

Mike Larson, senior analyst at Weiss Ratings, says he hasn’t seen markets this disconnected to reality in nearly a quarter-century.

Mike Larson, senior analyst at Weiss Ratings, says he hasn’t seen markets this disconnected to reality in nearly a quarter-century.

Pound tops $1.25 as FTSE 100 extends gains

The pound on Tuesday moved past the $1.25 level for the first time in more than a month, getting a bid as traders price in a more optimistic global environment.

The pound on Tuesday moved past the $1.25 level for the first time in more than a month, getting a bid as traders price in a more optimistic global environment.

WRAPUP 8-Stocks buoyant, dollar slips as economies start to unlock

World stocks hovered near three-month highs and the dollar was flat on Monday as optimism over economies opening up again boosted risk appetite, despite worries over mass protests in the United States and unease over Washington’s standoff with Beijing. Investors were also relieved that President Donald Trump left a trade deal with China intact despite moving to end Washington’s special treatment for Hong Kong in retaliation for Beijing seeking to impose new security legislation on the city. China has asked state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, following Washington’s move over Hong Kong.

World stocks hovered near three-month highs and the dollar was flat on Monday as optimism over economies opening up again boosted risk appetite, despite worries over mass protests in the United States and unease over Washington’s standoff with Beijing. Investors were also relieved that President Donald Trump left a trade deal with China intact despite moving to end Washington’s special treatment for Hong Kong in retaliation for Beijing seeking to impose new security legislation on the city. China has asked state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, following Washington’s move over Hong Kong.

U.S. Dollar Index (DX) Futures Technical Analysis – Plenty of Room to Downside Under 98.130

With all the recent main bottoms taken out, the Fib level at 98.130 becomes the key level to watch.

With all the recent main bottoms taken out, the Fib level at 98.130 becomes the key level to watch.

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Canadian dollar retreats from 2-1/2-month high after sharp GDP drop

The Canadian dollar was little changed against its broadly weaker U.S. counterpart on Friday as data showed a deep slump in the domestic economy in the first quarter, with the loonie pulling back from an earlier two-and-a-half-month high. Canada’s GDP fell at an annualized rate of 8.2% in the first quarter as a result of reduced spending and widespread shutdowns of non-essential businesses in March due to the coronavirus pandemic, Statistics Canada said. In a flash estimate, Canada’s national statistics agency projected an 11% decline for GDP in April from March.

The Canadian dollar was little changed against its broadly weaker U.S. counterpart on Friday as data showed a deep slump in the domestic economy in the first quarter, with the loonie pulling back from an earlier two-and-a-half-month high. Canada’s GDP fell at an annualized rate of 8.2% in the first quarter as a result of reduced spending and widespread shutdowns of non-essential businesses in March due to the coronavirus pandemic, Statistics Canada said. In a flash estimate, Canada’s national statistics agency projected an 11% decline for GDP in April from March.

SEC Issues Agenda for June 1 Meeting of the Fixed Income Market Structure Advisory Committee

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