Results for PMI
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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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Macro and Prices: Data and Psychology in the Week Ahead

November 19, 2022
The week ahead has a relatively light economic schedule, punctuated by the US Thanksgiving Day holiday on November 24. Nevertheless, the data highlights include the preliminary November PMIs, Tokyo's November CPI, and the FOMC minutes from this month's meeting. The data is not the driver now; psychology is. The precise print, for example, …
Macro and Prices: Data and Psychology in the Week Ahead Macro and Prices: Data and Psychology in the Week Ahead Reviewed by Marc Chandler on November 19, 2022 Rating: 5
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US Dollar Offered Ahead of the Employment Report

November 04, 2022
Overview: Risk appetites have returned but may be tested by the US jobs report. News of progress with US auditors in China helped lift Hong Kong and Chinese equities. Most of the large bourses in the region also rose. Europe’s Stoxx 600 is up a little more than 1% near midday after shedding 1.3% over the past two sessions. US futures also are trad…
US Dollar Offered Ahead of the Employment Report US Dollar Offered Ahead of the Employment Report Reviewed by Marc Chandler on November 04, 2022 Rating: 5
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Fed's Hawkishness Roils the Capital Markets

November 03, 2022
Overview: The Fed delivered the expected 75 bp rate hike, and although it says it will take into account the cumulative effect of past hikes and their lagged impact, the takeaway has been a hawkish message. Risk appetites have evaporated. The dollar is stronger, while stocks and bonds have been sold. Japan’s markets were spared due to the national…
Fed's Hawkishness Roils the Capital Markets Fed's Hawkishness Roils the Capital Markets Reviewed by Marc Chandler on November 03, 2022 Rating: 5
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Dollar Slump Halted as Stocks and Bonds Retreat

October 05, 2022
Overview: Hopes that the global tightening cycle is entering its last phase supplied the fodder for a continued dramatic rally in equities and bonds. The euro traded at par for the first time in two weeks, while sterling reached almost $1.1490, its highest since September 15. The US 10-year yield has fallen by 45 bp in the past five sessions. Yet,…
Dollar Slump Halted as Stocks and Bonds Retreat Dollar Slump Halted as Stocks and Bonds Retreat Reviewed by Marc Chandler on October 05, 2022 Rating: 5
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