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Hong Kong Stocks Rally as Stand-Off Continues

November 19, 2019
Overview: The run-up in equities continues to be the dominant development in the capital markets. Although the Japanese and South Korean bourses fell, the rise in Australia, China, Hong Kong, and Taiwan underpin the MSCI Asia Pacific Index. The Hang Seng's gains  (1.5% on top of yesterday's 1.3% rise) are notable as the situation on the gr…
Hong Kong Stocks Rally as Stand-Off Continues Hong Kong Stocks Rally as Stand-Off Continues Reviewed by Marc Chandler on November 19, 2019 Rating: 5
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Sterling Shines in Subdued Start to the New Week

November 18, 2019
Overview: Equities in Europe and the US look to extend their six-week rally, while the MSCI Asia Pacific Index gets back on the winning way after stumbling last week. Despite the escalation of the conflict in Hong Kong, the Hang Seng rose 1.35% to lead the region and recoup a chunk of last week's 4.8% slump. The Dow Jones Stoxx 600 puts the Eu…
Sterling Shines in Subdued Start to the New Week Sterling Shines in Subdued Start to the New Week Reviewed by Marc Chandler on November 18, 2019 Rating: 5
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Make it or Break It Week for the Dollar?

November 17, 2019
The US dollar was little changed for most of last week and then weakened against most of the major currencies ahead of the weekend.  The consensus narrative is that comments by the US Administration fanned optimism on a trade agreement with China, and that encouraged a rally in risk assets.  We are skeptical, in part because earlier worries failed…
Make it or Break It Week for the Dollar? Make it or Break It Week for the Dollar? Reviewed by Marc Chandler on November 17, 2019 Rating: 5
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Economic Entrails in the Week Ahead

November 16, 2019
The exaggeration of the significance of a few data points led many observers to posit a synchronized global economic rebound.  Disappointing data from China, Japan, and Australia last week suggested that the Asia Pacific region is not experiencing it. 
Japan's export prowess is a thing of the past.  Net exports were a drag on Q3 GDP. The Octobe…
Economic Entrails in the Week Ahead Economic Entrails in the Week Ahead Reviewed by Marc Chandler on November 16, 2019 Rating: 5
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Market Runs with US Line that US-China Deal is Close

November 15, 2019
Overview: Comments by US presidential adviser Kudlow playing up the prospects of a trade agreement between the US and China, with other reports suggesting a key call will be held today, is helping to underpin sentiment into the weekend. The MSCI Asia Pacific Index pared this week's loss today, with China the only main market not participating,…
Market Runs with US Line that US-China Deal is Close Market Runs with US Line that US-China Deal is Close Reviewed by Marc Chandler on November 15, 2019 Rating: 5
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Unexpected German Growth Fails to Buoy the Euro

November 14, 2019
Overview: Rising trade anxiety and disappointing economic reports from the Asia Pacific region helped unpin the profit-taking mood in equities, while bond yields continued to pullback. The MSCI Asia Pacific Index and the Dow Jones Stoxx 600 are in the red for the fourth time in the last five sessions. Germany reported a surprise 0.1% expansion in …
Unexpected German Growth Fails to Buoy the Euro Unexpected German Growth Fails to Buoy the Euro Reviewed by Marc Chandler on November 14, 2019 Rating: 5
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Investors Temper Euphoria

November 13, 2019
Overview: The recent rise in equity markets and backing up in yields spurred many observers to upgrade their macroeconomic outlooks rather than the other way around. Yet we continue to see may worrisome signs. It is not just trade, though, of course, that is part of it. Sentiment itself is fragile and will likely follow prices. Led by Hong Kong, w…
Investors Temper Euphoria Investors Temper Euphoria Reviewed by Marc Chandler on November 13, 2019 Rating: 5
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Farage Declares Truce with Tories after being Offered a Peerage, Underpins Sterling Farage Declares Truce with Tories after being Offered a Peerage, Underpins Sterling Reviewed by Marc Chandler on November 12, 2019 Rating: 5
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Dollar Consolidates and Equities Follow Asia Lower

November 11, 2019
Overview: Escalating violence in Hong Kong and the continued fall in Chinese producer prices weighed on equities in Asia Pacific trading. The MSCI Asia Pacific Index has risen nearly 7% during the five-week rally and is off to a weak start this week. Hong Kong's Hang Seng fell around 2.6%, its biggest loss in three months, and China's CSI …
Dollar Consolidates and Equities Follow Asia Lower Dollar Consolidates and Equities Follow Asia Lower Reviewed by Marc Chandler on November 11, 2019 Rating: 5
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