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Bi-Polar Market: It is and It isn't

January 14, 2022
Overview:  Sentiment is unhinged.  It has swung from fears that the Fed is behind the inflation curve and unemployment is below the long-term equilibrium rate to the central bank is going to kill the economy by raising rates and allowing the balance sheet to shrink too quickly.  Today's US data for retail sales and industrial output may play o…
Bi-Polar Market: It is and It isn't Bi-Polar Market: It is and It isn't Reviewed by Marc Chandler on January 14, 2022 Rating: 5
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FOMC Sets New Course

December 15, 2021
The Fed delivered what it was expected to do:  double the pace of tapering and project a more aggressive interest rate response with its individual forecasts.  The dollar initially rallied on the headlines, and new sessions highs were recorded, but the price action was a bit of a head-fake, as it were. The greenback's gains were quickly pared,…
FOMC Sets New Course FOMC Sets New Course Reviewed by Marc Chandler on December 15, 2021 Rating: 5
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Central Bank Fest

December 11, 2021
Next week is the last big week of the year, and what a week it will be:  Five major central banks meet and at least nine from emerging market countries.  Norway's Norges Bank is the most likely major central bank to hike its key (deposit) rate (December 16).  It would be the second hike of the year.  The economy is enjoying a solid recovery, a…
Central Bank Fest Central Bank Fest Reviewed by Marc Chandler on December 11, 2021 Rating: 5
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Covid Wave Knocks Euro Down and to new 6-year Lows Against the Swiss Franc

November 19, 2021
Overview:  Concerns about the virus surge in Europe cut short the euro's bounce and sent it back below $1.1300 and are also weighing on central European currencies, including the Hungarian forint, despite yesterday's aggressive hike of the one-week deposit rate.  Austria has reintroduced a hard 20-day lockdown.  Germany's health minist…
Covid Wave Knocks Euro Down and to new 6-year Lows Against the Swiss Franc Covid Wave Knocks Euro Down and to new 6-year Lows Against the Swiss Franc Reviewed by Marc Chandler on November 19, 2021 Rating: 5
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US Retail Sales and Industrial Output to Accelerate; China not so Much

November 13, 2021
At the halfway point of Q4, the markets' focus is on three things:  inflation, growth, and central banks' response. With US and Chinese October inflation readings behind us, the focus shifts to the real economy's performance, the world's two largest economies reporting retail sales and industrial production figures.   Helped by str…
US Retail Sales and Industrial Output to Accelerate; China not so Much US Retail Sales and Industrial Output to Accelerate; China not so Much Reviewed by Marc Chandler on November 13, 2021 Rating: 5
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Falling Yields Give the Yen a Boost

November 09, 2021
Overview: Reports that the Fed's Brainard was interviewed for the Chair helped soften yields a bit, not that they needed extra pressure, on ideas she is more dovish than Powell.  In turn, the lower yields saw the yen rise to its best level in nearly a month and led the major currencies higher against the dollar.  The yen is joined by the Scand…
Falling Yields Give the Yen a Boost Falling Yields Give the Yen a Boost Reviewed by Marc Chandler on November 09, 2021 Rating: 5
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US Employment Data is Important but for the Millionth Time, Don't Exaggerate It US Employment Data is Important but for the Millionth Time, Don't Exaggerate It Reviewed by Marc Chandler on August 06, 2021 Rating: 5
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What to Look at Next Week

March 27, 2021
The US dollar extended its recent gains even as the yield on the 10-year Treasury pulled back by more than 15 basis points.  The euro, the 7-Up to the dollar's cola, fell to its lowest level since last November and the greenback rose to new highs for the year against most of the major currencies, save sterling and the Canadian dollar.  While r…
What to Look at Next Week What to Look at Next Week Reviewed by Marc Chandler on March 27, 2021 Rating: 5
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Equities Try to Stabilize and Low Short-Term Rates Help Keep the Dollar on the Defensive Equities Try to Stabilize and Low Short-Term Rates Help Keep the Dollar on the Defensive Reviewed by Marc Chandler on February 24, 2021 Rating: 5
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