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Markets Lack Much Conviction, Await Fresh Developments

October 23, 2019
Overview: UK Prime Minister Johnson is neither dead in a ditch as he said he would prefer to be than request an extension of Brexit, nor will the UK leave the EU at the end of the month. Yesterday's vote rejected the attempt to fast-track the legislation needed to support the divorce agreement. It all but ensures that such a delay will be for…
Markets Lack Much Conviction, Await Fresh Developments Markets Lack Much Conviction, Await Fresh Developments Reviewed by Marc Chandler on October 23, 2019 Rating: 5
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Trudeau will Lead a Coalition Government in Canada, while the UK's Johnson Fights Another Day Trudeau will Lead a Coalition Government in Canada, while the UK's Johnson Fights Another Day Reviewed by Marc Chandler on October 22, 2019 Rating: 5
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Dollar Soft, but Stage is being Set for Turn Around Tuesday

October 21, 2019
Overview: The UK's departure from the EU remains up in the air as a new attempt to pass the necessary legislation through Parliament continues today. Many market participants seem to remain optimistic that Prime Minister Johnson's plan will ultimately succeed. After slipping to $1.2875 initially, sterling briefly pushed through $1.30, whi…
Dollar Soft, but Stage is being Set for Turn Around Tuesday Dollar Soft, but Stage is being Set for Turn Around Tuesday Reviewed by Marc Chandler on October 21, 2019 Rating: 5
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Brexit High Drama

October 20, 2019
Before Prime Minister Johnson submitted the withdrawal bill that he had negotiated with the EU, a Tory-backed bill to not consider it until the implementation bill is approved, carried by a 322-306 margin. The disgruntled Democrat Unionist Party's 10 votes made the difference, but there were also 10 independent Conservative MPs, who had lost t…
Brexit High Drama Brexit High Drama Reviewed by Marc Chandler on October 20, 2019 Rating: 5
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Dollar had a Poor Week but Technicals Warn Against Chasing it Much Further

October 20, 2019
The dollar fell against the major currencies, but the yen and Norwegian krona, and slippage against the yen was minor around 0.15%.The krone's weakness was notable.  It lost 0.9% against the dollar to trade at 18-year lows.  It lost around 2% against the euro to trade at record lows.  It is difficult to identify the fundamental driver as the c…
Dollar had a Poor Week but Technicals Warn Against Chasing it Much Further Dollar had a Poor Week but Technicals Warn Against Chasing it Much Further Reviewed by Marc Chandler on October 20, 2019 Rating: 5
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The Week Ahead Excluding Brexit

October 19, 2019
I feel a bit like the proverbial guy that asks, "Besides that, Mrs. Lincoln, how did you like the play?" in trying to discuss the week ahead without knowing the results of the UK Parliament's decision on the new deal negotiated between Prime Minister Johnson and the EU.   I will write a separate note about Brexit before the Asian ope…
The Week Ahead Excluding Brexit The Week Ahead Excluding Brexit Reviewed by Marc Chandler on October 19, 2019 Rating: 5
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Markets Becalmed Ahead of the Weekend

October 18, 2019
Overview: The global capital markets are ending the week on a subdued note as the UK Parliament decision on Saturday is awaited. The weaker Chinese Q3 GDP had little impact outside of China, where stocks fell over 1%. A brief suspension of hostilities by Turkey was sufficient for the US to lift its threatened sanctions. Asia Pacific equities were …
Markets Becalmed Ahead of the Weekend Markets Becalmed Ahead of the Weekend Reviewed by Marc Chandler on October 18, 2019 Rating: 5
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EU-UK Deal Sends Sterling and the Euro Higher

October 17, 2019
Overview:  A Brexit deal between the UK and the EU has been struck.  Whether it can win Parliament's approval is a horse of a different color.  Meanwhile, US-Chinese relations continue to sour.  The capital markets are narrowly mixed as investors await further developments.  The MSCI Asia Pacific is consolidated after gaining for the past four…
EU-UK Deal Sends Sterling and the Euro Higher EU-UK Deal Sends Sterling and the Euro Higher Reviewed by Marc Chandler on October 17, 2019 Rating: 5
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Cool Video: With Rick Santelli on CNBC

October 16, 2019
I was invited to Rick Santelli's Exchange on CNBC earlier today.  There is a 3.5-minute clip of the interview that can be found here.
Despite being a dollar bull for nearly a decade (since around the time of my first book--Making Sense of the Dollar--), I do not think a strong or weak dollar is desirable.  It is about the level that is appropri…
Cool Video: With Rick Santelli on CNBC Cool Video: With Rick Santelli on CNBC Reviewed by Marc Chandler on October 16, 2019 Rating: 5
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