Edit

Great Graphic: Views Distill to Short Sterling Long Yen Opportunity

September 23, 2019
We have argued that the road to an orderly Brexit remains arduous and that sterling had entered an important technical area ($1.2500-$1.2530).  At the same time, see the dollar as having approached the upper end of its broad trading range against the yen.  One of the important drivers lifting the dollar was the dramatic rise in US yields.  We thou…
Great Graphic: Views Distill to Short Sterling Long Yen Opportunity Great Graphic:  Views Distill to Short Sterling Long Yen Opportunity Reviewed by Marc Chandler on September 23, 2019 Rating: 5
Edit

Dreadful European Flash PMI Drags the Euro Lower

September 23, 2019
Overview: The critics who claim the ECB's policy response was disproportionate got a rude shock today with the unexpected weakness revealed by the flash PMI. The euro looks to re-visit the lows set recently near $1.0925. Sentiment has also been eroded by the poor South Korean export figures. Asia Pacific equities moved lower, though Tokyo mark…
Dreadful European Flash PMI Drags the Euro Lower Dreadful European Flash PMI Drags the Euro Lower Reviewed by Marc Chandler on September 23, 2019 Rating: 5
Edit

Look for Yuan Weakness and Yen Strength to Begin the Week

September 22, 2019
The Japanese yen and Canadian dollar were the only major currencies to gain against the US dollar last week.  They are also the only major currencies to appreciate against the dollar so far this year.  US President Trump's apparent playing down of the pressure to strike a partial deal with China before the 2020 election weighed on stocks and l…
Look for Yuan Weakness and Yen Strength to Begin the Week Look for Yuan Weakness and Yen Strength to Begin the Week Reviewed by Marc Chandler on September 22, 2019 Rating: 5
Edit
Central Banks may be Data Dependent, Whatever that Means, but Investors Aren't Central Banks may be Data Dependent, Whatever that Means, but Investors Aren't Reviewed by Marc Chandler on September 21, 2019 Rating: 5
Edit

UK and India Provide Excitement Ahead of the Weekend

September 20, 2019
Overview: A word of optimism on a Brexit deal has sent sterling to its best level in two months. Corporate tax cuts sparked a more than 5% rally in Indian stocks as the week draws to a close. The MSCI Asia Pacific Index snapped a four-day losing streak to pare this week's decline.  Europe's Dow Jones Stoxx 600 was flat for the week coming …
UK and India Provide Excitement Ahead of the Weekend UK and India Provide Excitement Ahead of the Weekend Reviewed by Marc Chandler on September 20, 2019 Rating: 5
Edit

Investors Looking for New Focus

September 19, 2019
Overview:  Central bank activity is still very much the flavor of the day, but investors are looking for the next focus.  The Bank of Japan and the Swiss National Bank stood pat, while Indonesia cut for the third consecutive time and the Hong Kong Monetary Authority and Saudi Arabia quickly followed the Fed. Brazil cut its Selic rate yesterday by …
Investors Looking for New Focus Investors Looking for New Focus Reviewed by Marc Chandler on September 19, 2019 Rating: 5
Edit

Did the Fed Deliver a Hawkish Cut?

September 18, 2019
The Federal Reserve delivered the widely anticipated 25 bp rate cut, but by not validating expectations for another cut. The market reacted is if they wanted to clearer dovish signal. The dollar strengthened, and equities fell.  
To be sure, a plurality of Fed officials, (7) see another cut.  Five officials saw no need for another rate cut.  Anothe…
Did the Fed Deliver a Hawkish Cut? Did the Fed Deliver a Hawkish Cut? Reviewed by Marc Chandler on September 18, 2019 Rating: 5
Edit

Cool Video: TDAmeritrade Network--FOMC, Repo, Brexit and More

September 18, 2019
My markets education began on the floor of the Chicago Mercantile Exchange. I learned the hard way, and with the help of many locals, people who were putting their own money at risk every day to make a living. They were often on the other side trades from of the "smart" institutional money. They were scrappy and survived on their wits an…
Cool Video: TDAmeritrade Network--FOMC, Repo, Brexit and More Cool Video:  TDAmeritrade Network--FOMC, Repo, Brexit and More Reviewed by Marc Chandler on September 18, 2019 Rating: 5
Edit

FOMC Meets Amid Money Market Pressures

September 18, 2019
Overview:  News that Saudi Arabia was able to restore 40%-50% of the oil capacity lost by the weekend strike coupled with the Fed's efforts to offset the squeeze in the money markets are allowing the global capital markets to trade quietly ahead of the conclusion of the FOMC meeting.  Equities are little changed with a lower bias that has been…
FOMC Meets Amid Money Market Pressures FOMC Meets Amid Money Market Pressures Reviewed by Marc Chandler on September 18, 2019 Rating: 5
Edit

Markets Calm(er)

September 17, 2019
Overview: Oil prices have stabilized after yesterday's surge.  Both Brent and WTI are holding on to around $7-$8 a barrel gain. Equity markets are mixed.  Some are attributing the losses in Asia Pacific outside of Japan (Nikkei rose its highest level since late April), Korea and Australia to the rise in oil prices.  European shares opened lowe…
Markets Calm(er) Markets Calm(er) Reviewed by Marc Chandler on September 17, 2019 Rating: 5
Powered by Blogger.