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Dollar Mostly Firmer, but Going Nowhere Quickly

September 28, 2016
The US dollar is enjoying a firmer bias today, but it remains narrowly mixed on the week.  It is within well-worn ranges.   Of the several themes that investors are focused on, there have not significant fresh developments.  
In terms of monetary policy, both Draghi and Yellen speak today.  The former is behind closed doors with a Germany parliamen…
Dollar Mostly Firmer, but Going Nowhere Quickly Dollar Mostly Firmer, but Going Nowhere Quickly Reviewed by Marc Chandler on September 28, 2016 Rating: 5
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Great Graphic: Stocks and Bonds

September 27, 2016
As market participants, we are sensitive to changing inter-market relationships.    This Great Graphic, from Bloomberg shows the correlation between stocks and bonds.  In particular, it depicts the 60-day rolling correlation over the past year of the change in the US 10-year yield and the change in the S&P 500.  
As recently as the beginning of…
Great Graphic: Stocks and Bonds Great Graphic:  Stocks and Bonds Reviewed by Marc Chandler on September 27, 2016 Rating: 5
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Renzi and the Italian Referendum: Disruption Potential Minimized

September 27, 2016
Italian Prime Minister has set the date for the constitutional referendum as late as practically possibly.  It will be held on December 4.   The issue is the perfect bicameralism that gives as much power to the Senate as the Chamber of Deputies.  
 Renzi's argument is that the political reform is necessary to make Italy governable.  Italy has h…
Renzi and the Italian Referendum: Disruption Potential Minimized Renzi and the Italian Referendum:  Disruption Potential Minimized Reviewed by Marc Chandler on September 27, 2016 Rating: 5
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US Debate Lifts Peso, but Leaves the Dollar Non-Plussed

September 27, 2016
The first US Presidential debate may not sway many voters but has lifted the Mexican peso.  The peso, which has fallen by about 1.3% over the past two sessions, has stormed by 1.5% today as the seemingly biggest winner of the debate. Snap polls immediately following the debate gave the edge to Clinton.  
Speculators had amassed a near record gross …
US Debate Lifts Peso, but Leaves the Dollar Non-Plussed US Debate Lifts Peso, but Leaves the Dollar Non-Plussed Reviewed by Marc Chandler on September 27, 2016 Rating: 5
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Great Graphic: Nearly Five-Month Uptrend in the Dollar Index Set to be Tested

September 26, 2016
The US Dollar Index has been trending higher since early May.  This Great Graphic, created on Bloomberg shows, that it has been successfully tested several times.  
It appears set to be re-tested in the coming days.  It comes in near 94.80 today and rises a little more than two ticks a day to finish the week near 94.90. 
Technical indicators, like t…
Great Graphic: Nearly Five-Month Uptrend in the Dollar Index Set to be Tested Great Graphic:  Nearly Five-Month Uptrend in the Dollar Index Set to be Tested Reviewed by Marc Chandler on September 26, 2016 Rating: 5
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