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Greenback Momentum may Carry Over While S&P 500 Looks Heavy

July 21, 2019
The US dollar rose against most of the major currencies last week, with the Australian and New Zealand dollars were the main exceptions.  The greenback was whipsawed over the last two sessions. First, it sold off hard when the market confused the case of a preemptive move with a larger cut. Then it rebounded as the investors' views were correc…
Greenback Momentum may Carry Over While S&P 500 Looks Heavy Greenback Momentum may Carry Over While S&P 500 Looks Heavy Reviewed by Marc Chandler on July 21, 2019 Rating: 5
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Highlights in the Week Ahead

July 20, 2019
Three events that will capture the market's attention next week:  The consequences of the Japanese election, the first look at US Q1 GDP, and the ECB meeting.  The central banks of Turkey and Russia also meet. Both are expected to cut interest rates, following rate cuts in the middle of last week by South Korea, Indonesia, and South Africa.  
J…
Highlights in the Week Ahead Highlights in the Week Ahead Reviewed by Marc Chandler on July 20, 2019 Rating: 5
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Dollar Pares Losses as Market Partly Corrects Confusion of Magntiude and Timing of Fed Dollar Pares Losses as Market Partly Corrects Confusion of Magntiude and Timing of Fed Reviewed by Marc Chandler on July 19, 2019 Rating: 5
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Dollar on Back Foot as Equities Slide

July 18, 2019
Overview:  Profit-taking continues to weigh on global equities earnings concerns saw the biggest drop in the S&P 500 in three weeks.  The MSCI Asia Pacific Index fell for the fourth consecutive session.  The Nikkei gapped lower for the second straight session and has now retraced half of the gains scored since early June.  The Shanghai Composi…
Dollar on Back Foot as Equities Slide Dollar on Back Foot as Equities Slide Reviewed by Marc Chandler on July 18, 2019 Rating: 5
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Back to the Well Again

July 17, 2019
Overview:  After slapping punitive tariffs on structural steel from China and Mexico last week, US President Trump threatened to end the tariff truce with China because it has not stepped up its purchases of US agriculture products.  Trump said the tariff freeze was in exchange for ag purchases, but at the time it seemed as if granting licenses to…
Back to the Well Again Back to the Well Again Reviewed by Marc Chandler on July 17, 2019 Rating: 5
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Intervention: Huff, Puff, and Bluff

July 16, 2019
Economists, strategists, and reporters continue to have a difficult time getting a handle on the disruptive American President.  They insist on taking seriously every feint of a person who appears to relish keeping his friends and adversaries off-balance. One continues to fuel a discussion that is generating more heat than light.  Previously, Trum…
Intervention: Huff, Puff, and Bluff Intervention: Huff, Puff, and Bluff Reviewed by Marc Chandler on July 16, 2019 Rating: 5
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Sterling Weakness Punctures Subdued Session

July 16, 2019
Overview: Summer in the northern hemisphere contributing to the subdued activity in the global capital markets. The MSCI Asia Pacific index stalled after a four-day advance, with Japanese, Chinese, and Australian equities offsetting gains in Taiwan, South Korea, and India.  Europe's Dow Jones Stoxx 600 is flattish, struggling to extend its thr…
Sterling Weakness Punctures Subdued Session Sterling Weakness Punctures Subdued Session Reviewed by Marc Chandler on July 16, 2019 Rating: 5
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Marking Time on Monday

July 15, 2019
Overview:   The new record highs in US equities ahead of the weekend coupled with Chinese data that suggested the economy was gaining some traction as Q2 wound down is helping underpin risk appetites to start the week.  Japanese markets were closed today, but equities were mostly firmer in the Asia Pacific regions, markets in China, Hong Kong, Tai…
Marking Time on Monday Marking Time on Monday Reviewed by Marc Chandler on July 15, 2019 Rating: 5
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Near-Term Dollar Outlook: What the Charts may Say

July 14, 2019
The dollar had a challenging week.  The Chair of the Federal Reserve confirmed as much as possible a rate cut at the end of the month. The market understood this as a validation of its expectations and pushed the implied yield of the January 2020 fed funds futures contract down six basis points to 1.715%.  The low, and what we have suggested is pe…
Near-Term Dollar Outlook: What the Charts may Say Near-Term Dollar Outlook: What the Charts may Say Reviewed by Marc Chandler on July 14, 2019 Rating: 5
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