Edit

No Follow-Through After Month-End Adjustments

December 01, 2020
Overview:  The near-record rallies seen in the major equity markets in November may have contributed to the month-end drama yesterday.  There has been no follow-through activity.   Stocks bounced back, and the US dollar is heavy, with few exceptions.  In the Asia Pacific region, all the markets are higher, and most rose by more than 1%.  The Europ…
No Follow-Through After Month-End Adjustments No Follow-Through After Month-End Adjustments Reviewed by Marc Chandler on December 01, 2020 Rating: 5
Edit

Equities are Heavy and the Dollar Softer to Start New Week

November 30, 2020
Overview: Month-end profit-taking saw Asia Pacific shares tumble earlier today.  Most markets are off 1-2.5% today after the MSCI Asia Pacific Index rose 2.25% last week.  European shares are mixed, but little changed.  US shares are also trading lower.  The energy sector is being dragged lower by the failure of OPEC+ to signal an agreement to ext…
Equities are Heavy and the Dollar Softer to Start New Week Equities are Heavy and the Dollar Softer to Start New Week Reviewed by Marc Chandler on November 30, 2020 Rating: 5
Edit

Still Wary of a Breakout

November 29, 2020
The dollar's losses were extended last week, but among the majors, only the New Zealand dollar and the Swedish krona made new highs for the year.  Last week, we were cautious about chasing the greenback lower, and we still are.  Perhaps the bearish dollar view making the front page of the Wall Street Journal before the weekend reflects the ubi…
Still Wary of a Breakout Still Wary of a Breakout Reviewed by Marc Chandler on November 29, 2020 Rating: 5
Edit

Stranger Things

November 28, 2020
As November bleeds into December, new high-frequency data will be incorporated into an investment climate being shaped still by the public and private response to the coronavirus.  At the same time, the long drawn out game of brinkmanship between the UK and EU continues.  The only deadline that seems inviolable is the termination of the standstill…
Stranger Things Stranger Things Reviewed by Marc Chandler on November 28, 2020 Rating: 5
Edit

Dollar Offered Ahead of the Weekend

November 27, 2020
Overview: Equities are finishing the week on a firm tone, while the US dollar remains heavy.   In the Asia Pacific, only Australia and India did not end the week on a firm note.  The MSCI Asia Pacific completed its fourth consecutive weekly gain, for around a 13% gain.  Europe's Dow Jones Stoxx 600 is edging higher today, and it too is complet…
Dollar Offered Ahead of the Weekend Dollar Offered Ahead of the Weekend Reviewed by Marc Chandler on November 27, 2020 Rating: 5
Edit

Risk Appetites Stall Ahead of the US Thanksgiving Holiday

November 25, 2020
Overview:  The global equity rally appears to be stalling after the US markets rallied strongly yesterday.  Chinese, Taiwan, Korean, and Indian indices fell, and the MSCI Asia Pacific Index appears to have posted only its second loss this month.  European shares are narrowly mixed, leaving the Dow Jones Stoxx 600 little changed.  US equities are s…
Risk Appetites Stall Ahead of the US Thanksgiving Holiday Risk Appetites Stall Ahead of the US Thanksgiving Holiday Reviewed by Marc Chandler on November 25, 2020 Rating: 5
Edit

Diverging PMIs Fail to Give the Dollar Lasting Support

November 24, 2020
Overview: The contrast between the eurozone and US preliminary PMI readings caught the short-term market leaning the wrong way, and the dollar snapped back after extending its recent losses.  However, today the US dollar is back on its heels and returning to yesterday's lows against most major currencies.  The dollar bloc and Scandis lead the …
Diverging PMIs Fail to Give the Dollar Lasting Support Diverging PMIs Fail to Give the Dollar Lasting Support Reviewed by Marc Chandler on November 24, 2020 Rating: 5
Edit

Markets Look Past Near-Term Challenges

November 23, 2020
Overview:  News that the AstraZeneca vaccine was 70% effective but could be enhanced by changing dosage is lifting spirits and boosting equities.  Japan's markets were closed for a national holiday, but all the equity markets in the region advanced and many by more than 1%.  Strong export figures for the first 20 days of November helped lift S…
Markets Look Past Near-Term Challenges Markets Look Past Near-Term Challenges Reviewed by Marc Chandler on November 23, 2020 Rating: 5
Edit

Beware of the False Break

November 22, 2020
The US dollar had a tough week.  It fell against all the major currencies and most of the emerging market currencies.  The major currencies remained within well-worn ranges.  The JP Morgan Emerging Market Currency Index rose by around 1%, for its third weekly gain.  It is at its best level in eight months.  The Bannockburn World Currency Index ros…
Beware of the False Break Beware of the False Break Reviewed by Marc Chandler on November 22, 2020 Rating: 5
Powered by Blogger.