Results for PMI
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US Debt Ceiling Drama Ends with a Whimper, Focus on US Jobs and Fed

June 02, 2023
Overview: Another bizarre US debt-ceiling episode is over. President Biden will sign the bill that was approved by the Senate late yesterday. It is a bit anticlimactic for the market, for which the US jobs data is the key focus now. Outside of the fiscal drama, the Federal Reserve leadership has effectively push against market expectations for a h…
US Debt Ceiling Drama Ends with a Whimper, Focus on US Jobs and Fed US Debt Ceiling Drama Ends with a Whimper, Focus on US Jobs and Fed Reviewed by Marc Chandler on June 02, 2023 Rating: 5
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Yen Recovers from New 2023 Low, while Sterling Sets a New Low for the Month

May 23, 2023
Overview:  The dollar is bid. Only the Japanese yen is holding its own against the greenback but only after it fell to new lows for the year. The Scandis and Antipodeans are the heaviest among the G10 currencies, while sterling has fallen to a new low for the month. The prospect of a rate hike tomorrow has not protected the New Zealand dollar much…
Yen Recovers from New 2023 Low, while Sterling Sets a New Low for the Month Yen Recovers from New 2023 Low, while Sterling Sets a New Low for the Month Reviewed by Marc Chandler on May 23, 2023 Rating: 5
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OPEC+ Surprises while Manufacturing Remains Challenged

April 03, 2023
Overview: News of OPEC+ unexpected output cuts saw May WTI gap sharply higher and helped lift bond yields. May WTI settled near three-week highs before the weekend near $75.65 and opened today near $80. It reached almost $81.70 before stabilizing and is straddling the $80 area before the North American session. The high for the year was set in the…
OPEC+ Surprises while Manufacturing Remains Challenged OPEC+ Surprises while Manufacturing Remains Challenged Reviewed by Marc Chandler on April 03, 2023 Rating: 5
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Tumbling Tokyo Prices Gives Ueda Breathing Space

March 03, 2023
Overview: Talk from two Fed officials yesterday, which seemed to validate market expectations eased the upward pressure on the dollar and helped equities launch a dramatic recovery. The market is pricing in a terminal rate near 5.50%, a little higher than the median dot in December. The S&P 500 posted a dramatic recover and posted a potential …
Tumbling Tokyo Prices Gives Ueda Breathing Space Tumbling Tokyo Prices Gives Ueda Breathing Space Reviewed by Marc Chandler on March 03, 2023 Rating: 5
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The Dollar Pares Yesterday's Gains but Near-term Change in Sentiment may be at Hand The Dollar Pares Yesterday's Gains but Near-term Change in Sentiment may be at Hand Reviewed by Marc Chandler on February 03, 2023 Rating: 5
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Will What the Fed Says be More Important than What it Does?

February 01, 2023
Overview:  The focus is squarely on the Federal Reserve today. There is nearly universal agreement that it will lift the target by 25 bp. The market is inclined to see the shift as a sign that the Fed is nearing the end of its tightening cycle, and sees, at most, one more quarter-point hike. Despite the Fed's warnings, including in the Decembe…
Will What the Fed Says be More Important than What it Does? Will What the Fed Says be More Important than What it Does? Reviewed by Marc Chandler on February 01, 2023 Rating: 5
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No Follow-Through Euro Buying while S&P Holds Yesterday's Breakout

January 24, 2023
Overview:  A quiet consolidative session has been recorded so far today as North American leadership is awaited. The preliminary PMI readings are mixed. Japan and the eurozone look somewhat better, but Australia and the UK disappointed.  The dollar is trading with a mostly firmer bias, but largely confined to yesterday's ranges.  The markets s…
No Follow-Through Euro Buying while S&P Holds Yesterday's Breakout No Follow-Through Euro Buying while S&P Holds Yesterday's Breakout Reviewed by Marc Chandler on January 24, 2023 Rating: 5
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European Rates Continue to Surge, Sending Stocks Spiraling Lower

December 16, 2022
Overview: Seven of the G10 central banks pumped the brakes between last week and this week as they purposely seek to push demand back into line with supply. And there are more signs that they are succeeding in weakening growth impulses. The dramatic surge in European bond yields continues today with 10-year rates mostly rising another 13-15 bp. It…
European Rates Continue to Surge, Sending Stocks Spiraling Lower European Rates Continue to Surge, Sending Stocks Spiraling Lower Reviewed by Marc Chandler on December 16, 2022 Rating: 5
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