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Japan Drives Home Message

May 02, 2024
Overview: The US dollar is mixed, but the spotlight is on the Japanese yen. It appears that with the market challenging Monday's intervention, Japanese officials entered the market shortly after the US equity market closed yesterday, as the Asia Pacific session got underway and sold dollars again. Initial estimates suggest the intervention amo…
Japan Drives Home Message Japan Drives Home Message Reviewed by Marc Chandler on May 02, 2024 Rating: 5
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May Day Fed Day

May 01, 2024
Overview: Much of Asia and Europe are off for the May Day labor holiday. The dollar is mostly softer in the thin activity. However, the dollar has edged higher against the yen and approached JPY158. The euro initially fell to $1.0650, a six-day low and where a billion euros in options expire later today. It has recovered to almost $1.0675. Emergin…
May Day Fed Day May Day Fed Day Reviewed by Marc Chandler on May 01, 2024 Rating: 5
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Yen Retreats, while Stronger EMU GDP Underscores Nascent Recovery and Lifts the Euro Yen Retreats, while Stronger EMU GDP Underscores Nascent Recovery and Lifts the Euro Reviewed by Marc Chandler on April 30, 2024 Rating: 5
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Yen Dumps before It Jumps

April 29, 2024
Overview:  The FOMC meeting, the US employment report, and eurozone CPI were to be the highlights of the week, but the Japanese yen stole the march to start the week. The dollar soared to almost JPY160.20 before falling sharply to JPY154.55 and then rebounding to almost JPY156.00. Intervention has not been confirmed and BOJ data will not cover it …
Yen Dumps before It Jumps Yen Dumps before It Jumps Reviewed by Marc Chandler on April 29, 2024 Rating: 5
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Week Ahead: FOMC, US Jobs, EMU Inflation, JPY Pressure

April 27, 2024
The backing up of US rates did not lift the dollar broadly as it appeared to have done previously.  The dollar-bloc currencies, led by the Australian dollar, and sterling advanced last week, while the Swiss franc and Japanese yen were unable to find traction.  The Bank of Japan had an opportunity to have protested the yen's weakness more adama…
Week Ahead: FOMC, US Jobs, EMU Inflation, JPY Pressure Week Ahead: FOMC, US Jobs, EMU Inflation, JPY Pressure Reviewed by Marc Chandler on April 27, 2024 Rating: 5
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Where We Stand

April 12, 2024
I am on vacation, and then on a business trip that will interrupt the commentary until the weekly note on April 30. The May monthly analysis will be published the following week after the FOMC meeting and April employment report. I wanted to weigh in on a few key market issues before leaving. New Divergence: The continued robust US jobs growth (27…
Where We Stand Where We Stand Reviewed by Marc Chandler on April 12, 2024 Rating: 5
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Dollar Consolidates but Adjustment is Not Over

April 11, 2024
Overview:  Higher than expected US CPI for the third consecutive month drove US interest rates sharply higher and lifted the greenback broadly. The market appears to be catching its proverbial breath today, but the shallow consolidation suggests the moves are not over. The ECB meeting is likely to highlight the new divergence that has opened. The …
Dollar Consolidates but Adjustment is Not Over Dollar Consolidates but Adjustment is Not Over Reviewed by Marc Chandler on April 11, 2024 Rating: 5
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