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Greenback Slips into the Weekend

April 23, 2021
Overview:  Many narratives link the prospect of higher capital gains tax on about a third of 1% of Americans as the catalyst for losses in US equities yesterday (and Bitcoin) and weakness in some global shares today.  Of the large markets in the Asia Pacific region, only Japan, which is reimposing a formal emergency in Tokyo, Osaka, and two other …
Greenback Slips into the Weekend Greenback Slips into the Weekend Reviewed by Marc Chandler on April 23, 2021 Rating: 5
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ECB in Focus, while Australia Pokes the Panda

April 22, 2021
Overview:  The capital markets are mostly quiet ahead of the ECB meeting, today's highlight.  The rise in US equities yesterday is helping lift equities today.  The MSCI Asia Pacific Index snapped a two-day fall, and Europe's Dow Jones Stoxx 600 is rising for the second session.  US shares are little changed.  The bond market is subdued as…
ECB in Focus, while Australia Pokes the Panda ECB in Focus, while Australia Pokes the Panda Reviewed by Marc Chandler on April 22, 2021 Rating: 5
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The Dollar Finds Some Traction, while Bank of Canada Highlights the North American Session The Dollar Finds Some Traction, while Bank of Canada Highlights the North American Session Reviewed by Marc Chandler on April 21, 2021 Rating: 5
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Market has Second Thoughts about Timing of First Fed Hike

April 20, 2021
Overview:  Even as US yields edge higher, the dollar struggles. With the 10-year Treasury yields now at 1.62%, nine basis points above last week's lows, the greenback has turned mixed against the major currencies. After briefly slipping below JPY108, the dollar has recovered to around JPY108.55.  The euro firmed to $1.2080, and sterling pushed…
Market has Second Thoughts about Timing of First Fed Hike Market has Second Thoughts about Timing of First Fed Hike Reviewed by Marc Chandler on April 20, 2021 Rating: 5
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Dollar Slide Extends

April 19, 2021
Overview: The selling pressure on the greenback, evident last week, despite a series of stronger than expected economic reports, carries over into the new week's activity.  The euro punched through the $1.20 cap that had blocked it last week, and the dollar is testing the JPY108 level, which it has not traded below since early March.  Most eme…
Dollar Slide Extends Dollar Slide Extends Reviewed by Marc Chandler on April 19, 2021 Rating: 5
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If Stronger than Expected Inflation, Consumption, and Jobs Didn't Lift the Greenback, What Will? If Stronger than Expected Inflation, Consumption, and Jobs Didn't Lift the Greenback, What Will? Reviewed by Marc Chandler on April 18, 2021 Rating: 5
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The Virus, Vaccine, and Economic Velocity

April 17, 2021
The fact that neither the dollar nor US interest rates rose after the stronger than expected March CPI and real sector that prompted upward revisions to GDP forecasts may be saying something about market sentiment and positioning.  It lends credence to the idea that the markets have entered a new phase.    Consider the US 10-year yield.  For the t…
The Virus, Vaccine, and Economic Velocity The Virus, Vaccine, and Economic Velocity Reviewed by Marc Chandler on April 17, 2021 Rating: 5
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Treasuries: The Dog that Did not Bark

April 16, 2021
Overview: Like the dog that did not bark, the long-term US yields tumbled despite data that confirms the acceleration of the US economy and labor market.  The  10- and 30-year bond yields fell by the most since the end of February (~8.5 bp) and are little changed today.  European benchmark yields are 2-3 bp higher.  The greenback finished mostly s…
Treasuries: The Dog that Did not Bark Treasuries: The Dog that Did not Bark Reviewed by Marc Chandler on April 16, 2021 Rating: 5
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Data To Show Surging US Growth, but is that Enough to Lend the Dollar Support? Data To Show Surging US Growth, but is that Enough to Lend the Dollar Support? Reviewed by Marc Chandler on April 15, 2021 Rating: 5
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