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US Jobs Data will Test Dollar Bulls and Bond Bears

October 05, 2018
Overview:  The US dollar is firmer against most of the major and emerging market currencies.  The yen and sterling are resisting the pressure, while the South African rand and Russian rouble are paring some of this week's declines.  US equity losses yesterday weighed on Asian and European trading today.  The MSCI Asia Pacific Index fell every …
US Jobs Data will Test Dollar Bulls and Bond Bears US Jobs Data will Test Dollar Bulls and Bond Bears Reviewed by Marc Chandler on October 05, 2018 Rating: 5
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Euro, Sterling and Yen Stabilize, while Antipodean Currencies Extend Losses

October 03, 2018
Overview:  The US dollar is narrowly mixed against the major currencies.  The dollar-bloc currencies are softer,  with the Australian and New Zealand dollars pushed lower by poor data.  The euro is posting corrective upticks after the $1.15 area held yesterday, and Italy may cut the budget deficit projected for 2021.  The dollar eased to a three-d…
Euro, Sterling and Yen Stabilize, while Antipodean Currencies Extend Losses Euro, Sterling and Yen Stabilize, while Antipodean Currencies Extend Losses Reviewed by Marc Chandler on October 03, 2018 Rating: 5
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Greenback Advances

October 02, 2018
Overview:  The US dollar is rising against most of the major and emerging market currencies.  The Swiss franc and the Japanese yen are the exceptions and are holding their own.  Global equities are mixed.  Asia, excluding Japan, was mostly lower, with 1.2% losses in Taiwan and South Korea and 2.5% drop in Hong Kong and in the H-shares that trade t…
Greenback Advances Greenback Advances Reviewed by Marc Chandler on October 02, 2018 Rating: 5
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NAFTA Deal Struck, Softer EMU Mfg PMI, and Firm Greenback Starts Week

October 01, 2018
Overview:  The Canadian dollar and Mexican peso are extending its pre-weekend gains on news that a new NAFTA deal (US-Mexico-Canada Agreement USMCA) has been struck.  Against most of the other major and emerging market currencies, the US dollar is firm.  China's mainland and Hong Kong markets are closed for a national holiday.  Japanese shares…
NAFTA Deal Struck, Softer EMU Mfg PMI, and Firm Greenback Starts Week NAFTA Deal Struck, Softer EMU Mfg PMI, and Firm Greenback Starts Week Reviewed by Marc Chandler on October 01, 2018 Rating: 5
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Drivers: The Week Ahead

September 30, 2018
Four events stand out in the first week of October:  the situation in Italy, UK Prime Minister May's speech at the Tory Party Conference, the EMU PMI, and the US jobs data.  We suspect that the market overreacted to the Italian government's 2.4% deficit projection.  It is not an unreasonable outcome given the election.  Italy may still ver…
Drivers: The Week Ahead Drivers: The Week Ahead Reviewed by Marc Chandler on September 30, 2018 Rating: 5
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Greenback Remains at the Fulcrum

September 25, 2018
Overview:  The major currencies are mixed in quiet turnover. Most of the European currencies are firmer, while the dollar-bloc currencies, yen and Swiss franc are softer.  Emerging market currencies are steady to higher, though there are a few exceptions in Asia, where the Indonesian rupiah and the Chinese yuan are off about 0.3%, while the Indian…
Greenback Remains at the Fulcrum Greenback Remains at the Fulcrum Reviewed by Marc Chandler on September 25, 2018 Rating: 5
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Dollar Slips, though Emerging Markets Trade Heavily

September 17, 2018
The US dollar is beginning the new week on a soft note, as China threatens not to accept the invitation for trade talks in Washington if the US imposes new tariffs on $200 bln of its goods, which the Wall Street Journal reports could come as early as today.   Meanwhile, the MSCI Emerging Markets Index is giving back half of the 2.5% rally seen in …
Dollar Slips, though Emerging Markets Trade Heavily Dollar Slips, though Emerging Markets Trade Heavily Reviewed by Marc Chandler on September 17, 2018 Rating: 5
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Trade Trumps US Jobs and Rising Stress in Spain and Italy is More Important than the PMI Trade Trumps US Jobs and Rising Stress in Spain and Italy is More Important than the PMI Reviewed by Marc Chandler on September 02, 2018 Rating: 5
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Brief Respite but Little Relief

August 14, 2018
Corrective pressures grip the capital markets today, helped by the easing of the selling pressure on Turkey,  but its more a respite than a relief as no new policy initiatives are behind the lira's upticks.   The implication of this is that it is unlikely to last.  In fact, the dollar's low in early Europe a just above TRY6.41 after tradin…
Brief Respite but Little Relief Brief Respite but Little Relief Reviewed by Marc Chandler on August 14, 2018 Rating: 5
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Greenback Corrects Lower

June 06, 2018
The consensus narrative is that with rising inflation it is understandable that next week's meeting is live and that the confirmation of such has lifted the euro to ten-day highs, dragging the dollar broadly.  However, to accept this is to accept the debasement of language.  Until now, we dubbed central bank meeting that could result in action…
Greenback Corrects Lower Greenback Corrects Lower Reviewed by Marc Chandler on June 06, 2018 Rating: 5
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