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A Few Thoughts Ahead of the US Jobs Report

January 05, 2017
We have suggested the risk of disappointment with the US December jobs data.  There is not a tight fit on a monthly basis between the ADP estimate, and the first estimate of the BLS, the disappointment with the ADP estimate (153k vs. median estimate of 175k and an upwardly revised 215k in November) lends a modicum of support to our warning.  Simil…
A Few Thoughts Ahead of the US Jobs Report A Few Thoughts Ahead of the US Jobs Report Reviewed by Marc Chandler on January 05, 2017 Rating: 5
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Dollar Slide but Resilience Demonstrated while Yuan Squeezed Higher

January 05, 2017
There are two main developments. 
First, the high degree of uncertainty expressed in the FOMC minutes and the repeated references to the strong dollar spurred a wave of dollar selling. The dollar retreated in Asia, but European participants saw the pullback as a new buying opportunity. 
Second, Chinese officials have continued to squeeze liquidity i…
Dollar Slide but Resilience Demonstrated while Yuan Squeezed Higher Dollar Slide but Resilience Demonstrated while Yuan Squeezed Higher Reviewed by Marc Chandler on January 05, 2017 Rating: 5
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A Few Takeaways from the Latest IMF Reserve Figures

January 04, 2017
The IMF is the most authoritative source for reserve holdings of central banks.  It reports the data at the end of each quarter with a quarter lag.  At the end of last year, the IMF published the Q3 16 reserve figures.  As often is the case, the Q3 reserve figures get lost in the holiday shuffle. 
Nevertheless, there are a couple of interesting dev…
A Few Takeaways from the Latest IMF Reserve Figures A Few Takeaways from the Latest IMF Reserve Figures Reviewed by Marc Chandler on January 04, 2017 Rating: 5
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Consolidation in Capital Markets

January 04, 2017
Full liquidity has yet to return from holidays, but after some dramatic moves yesterday, a consolidative tone is emerging today, despite the slate of economic data.  The corrective pressures on the dollar we had been looking for is most evident against the Australian and Canadian dollars, while the greenback softer within yesterday's ranges ag…
Consolidation in Capital Markets Consolidation in Capital Markets Reviewed by Marc Chandler on January 04, 2017 Rating: 5
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Dollar-Bloc and Sterling Advance, while Euro and Yen Slip

January 03, 2017
The US dollar is mixed.  After a soft start in Asia, where Tokyo markets were closed, the dollar recovered smartly against the euro and yen.  The dollar-bloc and sterling are firmer.  Sterling's earlier losses were recouped following news that the manufacturing PMI jumped to 56.1, its highest since June 2014.  
Rising global yields with the US …
Dollar-Bloc and Sterling Advance, while Euro and Yen Slip Dollar-Bloc and Sterling Advance, while Euro and Yen Slip Reviewed by Marc Chandler on January 03, 2017 Rating: 5
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