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Mar 03, 2020 | Media Coverage

February Market Commentary Highlights

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The Euro-to-Dollar Rate: Winning in Battle to Save Long-term Uptrend

(Feb. 25) – Pound Sterling Live

“The Euro, like the Japanese Yen and Swiss Franc, is a popular funding currency, used to borrow cheaply (due to interest rates) in order to buy higher yielding but riskier assets. This is a common strategy in stress-free market conditions known as a “carry trade”. However, in stressful and risky conditions, these trades are reversed, effectively boosting demand for the funding currency once more,” says George Vessey, a currency strategist at Western Union.

 OR : UN LINGOT D'OR N'A JAMAIS COÛTÉ AUSSI CHER EN EUROS, ALORS QUE LE CORONAVIRUS INQUIÈTE LES MARCHÉS

(24 février) - TradingSat

Sur le marché des changes, ce sont le dollar américain et le yen japonais qui sont recherchés par les investisseurs, souligne Guillaume Dejean, analyste de marché pour Western Union. Le yuan chinois ce montre étonnamment résilient, gagnant un peu de terrain face à l'euro. Probablement grâce à la faible inflexion de la bourse de Shanghai (-0,3%), alors que la reprise d'activité de nombreuses usines semble avoir en partie rassuré les investisseurs locaux.

FOREX-U.S. dollar falls as expectations of a Fed rate cut rise

(Feb. 25) – Daily Mail

"The potential for the economic fallout from the virus to wash up on U.S. shores has cooled the dollar´s rally to three-year peaks by knocking Treasury yields to multi-year lows and raising expectations for the Federal Reserve to deliver more interest rate cuts to keep the record long expansion intact," said Joe Manimbo, senior market analyst at Western Union Business Solutions.

 FOREX-Dollar climbs as weak German data dents euro

(Feb. 18) - CNBC

“The scale of the erosion in confidence potentially sets the stage from similarly poor results Friday when Germany and the euro zone issue preliminary PMI surveys,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.

 CANADA FX DEBT-Loonie firms as investors shun weaker economies on spreading virus

(Feb. 25) – Reuters

"Given the fact that commodities are getting crushed, particularly oil, and the economic outlook is certainly being put into question, the fact that the Canadian dollar has remained firmly within a 1.32 to 1.3330 range is pretty remarkable," said Michael Goshko, corporate risk manager at Western Union Business Solutions.

 Simon Bishop provides market insights impacting the Asian Market

(Feb 25)

Simon Bishop, corporate hedging director at Western Union Business Solutions discusses the coronavirus, it’s impact on China’s workforce and how GDP may be affected

 King Dollar rules the FX heap as virus threatens global growth

(Feb. 21) – Reuters

“If we really start to see the dollar gain traction ... that could potentially mean less fuel to sustain the rally we have seen in stocks,” said Joe Manimbo, senior market analyst at Western Union Business Solutions.