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Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

July 21, 2017 - 8:38pm
Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

The euro's surge to an almost two-year high put a cap on the global market rally in Friday's quiet session, with most major exchanges consolidating after a second strong week of gains. The MSCI Asia-Pacific index declined for first time in ten days while the European Stoxx 600 index was fractionally in the green as were US equity futures ahead of earnings reports from General Electric, Honeywell, Schlumberger and others. Oil gained with Brent flirting with $50, zinc rallied along with most base metals.

World Stocks Hit Record High For 10th Consecutive Day In "No-Vol Nirvana"

July 20, 2017 - 8:47pm
World Stocks Hit Record High For 10th Consecutive Day In "No-Vol Nirvana"

The relentless risk levitation continued overnight, as global shares extended their stretch of consecutive record highs on Thursday for a 10th day after a cautious BOJ lifted Asian stocks to a decade high with a dovish announcement that offered no surprises, while pushing back Kuroda's 2% inflation target to 2020, the 6th consecutive delay. With all eyes on the ECB in just over an hour, US equity futures are in the green, following solid gains around the globe. European stocks extended their biggest gain in a week while Asian equities maintained their rally.

Global Stocks Hit Record High, Set For Longest Winning Streak Since 2015

July 19, 2017 - 8:52pm
Global Stocks Hit Record High, Set For Longest Winning Streak Since 2015

In what has been a less exciting session than the previous two, the euro retraced some recent gains as traders grew concerned they may have overestimated the ECB's hawkish bias ahead of Thursday’s rate decision; in turn the dollar edged higher after the collapse of the GOP healthcare bill sent it to the lowest since September on Tuesday.
Not even Citi could infuse any  excitement in the overnight session, which its called "Purgatorial":

Sleepy Overnight Session Interrupted By Chinese Market Turmoil

July 17, 2017 - 8:51pm
Sleepy Overnight Session Interrupted By Chinese Market Turmoil

Another new week, another day with not much going on. So much, or rather little so, that in its daily wrap Citi starts off with the following: "Pop Art pioneer Andy Warhol, who once said “I like boring things”, would have been a huge fan of today’s session thus far. Though several events of note linger on the horizon for later this week, G10 is firmly on the beach as of this morning."

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