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Great Graphic: Dollar Recoups January Loss Against the Swiss Franc

November 24, 2015
The US dollar recorded its high for the year against the Swiss franc on January 14 near CHF1.0240.  It closed that day a little below CHF1.0190.  The next day the Swiss National Bank surprised the world by lifting its cap against the euro.  The dollar plunged to nearly CHF0.7400.  
It has taken increased prospects of a Fed rate hike, negative 75 b…
Great Graphic: Dollar Recoups January Loss Against the Swiss Franc Great Graphic: Dollar Recoups January Loss Against the Swiss Franc Reviewed by Marc Chandler on November 24, 2015 Rating: 5
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Why Portuguese Politics Matter

November 24, 2015
A NATO country has shot down a Russian plane.  The refugee influx is threatening to unravel the Schengen Treaty of free movement.    Germany's Merkel celebrated her tenth anniversary as Chancellor this past weekend, but she faces one of the most serious challenges of her tenure.   
Portugal accounts for less than 2% of the eurozone GDP.  We arg…
Why Portuguese Politics Matter Why Portuguese Politics Matter Reviewed by Marc Chandler on November 24, 2015 Rating: 5
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Dollar Softens, Consolidation Phase Continues

November 24, 2015
The US dollar is trading choppily but with a distinct softer bias.  The economic news has been limited, and the apparent downing of a Russian plane by Turkey caused a flurry of activity, with Turkish assets coming under initial pressure which has abated somewhat.  
The euro briefly dipped below $1.06 yesterday for new seven-month lows, but there w…
Dollar Softens, Consolidation Phase Continues Dollar Softens, Consolidation Phase Continues Reviewed by Marc Chandler on November 24, 2015 Rating: 5
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Great Graphic: Canadian Dollar and the Two-Year Rate Differential

November 23, 2015
The Canadian dollar is more than a petro currency.    It is also subject to the same forces of divergence that have lifted the US dollar more broadly.  Since the beginning of the year, the US two-year yield has risen 26 bp while Canada's two-year yield has fallen almost 39 bp.
This Great Graphic, created on Bloomberg shows two time series.  The…
Great Graphic: Canadian Dollar and the Two-Year Rate Differential Great Graphic: Canadian Dollar and the Two-Year Rate Differential Reviewed by Marc Chandler on November 23, 2015 Rating: 5
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Parsing Gradually

November 23, 2015
With the vast majority of economists and primary dealers expecting the Federal Reserve to lift rates next month, the subject of discussion has shifted toward the pace of the hikes and the peak or terminal rate.  
The Federal Reserve has used various word cues to help guide market expectations.  There was, for example, going to be a "considerab…
Parsing Gradually Parsing Gradually Reviewed by Marc Chandler on November 23, 2015 Rating: 5
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