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Dollar Extends Gains Against the Yen

May 27, 2015
The US dollar had been in a broad trading range against the yen since last December. The marginal new high seen in March to about JPY122 proved to be a false break, and the dollar returned to its well worn ranges. After testing the lower end of an even narrower range around near JPY119 on May 14, the greenback has rallied about 4% to approach JPY…
Dollar Extends Gains Against the Yen Dollar Extends Gains Against the Yen Reviewed by Marc Chandler on May 27, 2015 Rating: 5
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Dollar Gains Trimmed as New Incentives Awaited

May 27, 2015
A light bout of profit-taking has seen yesterday's strong dollar gains pared.  Yesterday, the Dollar Index rose 1.3%, its biggest single day rise since July 2013.  There has been a dearth of fresh trading incentives, and consolidative tone has emerged, with the greenback staying near yesterday's highs.  
Most Asian equity markets were lower…
Dollar Gains Trimmed as New Incentives Awaited Dollar Gains Trimmed as New Incentives Awaited Reviewed by Marc Chandler on May 27, 2015 Rating: 5
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Great Graphic: Euro Retracements

May 26, 2015
The euro has shed six cents over the past seven sessions.  There are two main forces.  The primary one arguably is within Europe itself.  After an extended flash crash that saw German 10-year yields jump (from 5 bp on April 17 to almost 80 bp in the first half of May), they have come back off  (to 53 bp today).  The ECB confirmed what many had sus…
Great Graphic: Euro Retracements Great Graphic:  Euro Retracements Reviewed by Marc Chandler on May 26, 2015 Rating: 5
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Dollar Rallies in Asia and Europe, but may Pull Back in North America

May 26, 2015
The strong upside momentum for the US dollar seen last week is carrying into today's activity. It was firm in the holiday-thinned trading yesterday but has jumped higher today. There are two chief drivers.  
First, comments by several Fed officials, including Yellen and Fischer, reiterating that the weakness in Q1 was likely transitory, and str…
Dollar Rallies in Asia and Europe, but may Pull Back in North America Dollar Rallies in Asia and Europe, but may Pull Back in North America Reviewed by Marc Chandler on May 26, 2015 Rating: 5
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Four Things that Happened Monday You should Know About

May 25, 2015
While the markets in the United States and parts of Europe were closed on Monday there are four things that took place that global investors need to know.
1.  Japan reported smaller than expected trade deficit in April owing to stronger exports and weaker imports.  The trade deficit of JPY53.4 bln was about one-seventh the size the consensus expect…
Four Things that Happened Monday You should Know About Four Things that Happened Monday You should Know About Reviewed by Marc Chandler on May 25, 2015 Rating: 5
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Emerging Markets: Preview of the Week Ahead

May 25, 2015
(from my colleagues Dr. Win Thin and Ilan Solot)

Emerging markets currencies are somewhat directionless at the moment, caught between an unclear trend for the dollar and oil prices in a broad yet volatile range since the start of the month. Moreover, the uncertainty about the timing of the first Fed hike and festering risks in Europe (Greece and ri…
Emerging Markets: Preview of the Week Ahead Emerging Markets:  Preview of the Week Ahead Reviewed by Marc Chandler on May 25, 2015 Rating: 5
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Psychology more Important than Data in the Week Ahead

May 24, 2015
The US dollar's recovery last week may not get the kind of fundamental support that medium and long-term investors would like to see to raise the confidence that the two-month correction has run its course.  
Owing to a greater deterioration of net exports and a smaller than expected inventory build, Q1 GDP is likely to be revised sharply lower…
Psychology more Important than Data in the Week Ahead Psychology more Important than Data in the Week Ahead Reviewed by Marc Chandler on May 24, 2015 Rating: 5
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Dollar Bulls Retake the Whip Hand

May 23, 2015
The US dollar had a good week. Indeed, the Dollar Index's 3.3% rise was its best weekly performance since last September.  After looking rather bleak, the divergence theme struck back with a vengeance. ECB officials indicated that its sovereign bond buying program was turning more aggressive in the May-June period to get ahead of the summer mar…
Dollar Bulls Retake the Whip Hand Dollar Bulls Retake the Whip Hand Reviewed by Marc Chandler on May 23, 2015 Rating: 5
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Senate Edges toward Granting Trade Promotion Authority, Last Hurdle Today

May 22, 2015
Successful horse trading got the US Senate closer to granting the President Trade Promotion Authority for the first time since 2002.    Sixty votes needed to push the process to the next step and that is exactly what happened after a deal was worked out of the Export-Import Bank, whose authorization expires at the end of next month.  
In exchange f…
Senate Edges toward Granting Trade Promotion Authority, Last Hurdle Today Senate Edges toward Granting Trade Promotion Authority, Last Hurdle Today Reviewed by Marc Chandler on May 22, 2015 Rating: 5
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