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Dollar is Mixed on Eve of US Jobs and Tariffs

July 05, 2018
The US dollar is softer against most of the major currencies and mixed against the emerging market currencies.  European currencies firmer, with the continued recovery of the Swedish krona on the back of a more hawkish central bank, and the euro poking through $1.17 for the first time in over a week with the help of strong factory orders report fr…
Dollar is Mixed on Eve of US Jobs and Tariffs Dollar is Mixed on Eve of US Jobs and Tariffs Reviewed by Marc Chandler on July 05, 2018 Rating: 5
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While the US was on Holiday--Wednesday Summary

July 04, 2018
The inability of the S&P 500 to hold on gains on Tuesday and the poor finish weighed on Asian equities on Wednesday.  The MSCI Asia Pacific Index slipped 0.2% and posted its lowest close in nine months.  The Chinese yuan, which is under close international scrutiny with many suspecting it is being used to send the US a message as the trade ten…
While the US was on Holiday--Wednesday Summary While the US was on Holiday--Wednesday Summary Reviewed by Marc Chandler on July 04, 2018 Rating: 5
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Markets Trying to Stabilize

July 03, 2018
The global capital markets are trying to stabilize.  US equities recovered from early losses yesterday but this was not enough to stop Asian equities from extending recent losses.  The MSCI Asia Pacific Index slipped 0.2% for the sixth decline in the past seven sessions, However, several local markets, including China, Australia, and Korea advance…
Markets Trying to Stabilize Markets Trying to Stabilize Reviewed by Marc Chandler on July 03, 2018 Rating: 5
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Congress is About to Give Trump More not Less Trade Discretion

July 02, 2018
Predictably, even in controversially, each of the three premises of the US trade policy has been undermined.  First, the US tariff schedule is low, but it is not the lowest in the world.  Yes, it does have a low 2.5% tariff on auto imports, but there is a 25% tariff on SUVs.
Second, the steel and aluminum tariffs are unlikely to reduce the US trade…
Congress is About to Give Trump More not Less Trade Discretion Congress is About to Give Trump More not Less Trade Discretion Reviewed by Marc Chandler on July 02, 2018 Rating: 5
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Emerging Market Preview: Week Ahead

July 02, 2018
(from my colleague Dr. Win Thin)

EM FX ended Friday mixed, capping off a mostly softer week.  TRY, MXN, and RUB were the top performers and the only ones up against USD, while ARS, CLP, and BRL were the worst.  Looking ahead, US jobs data on Friday pose some risks to EM, coming on the heels of a higher than expected 2% y/y rise in PCE.  China will…
Emerging Market Preview: Week Ahead Emerging Market Preview: Week Ahead Reviewed by Marc Chandler on July 02, 2018 Rating: 5
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Third Quarter Begins With a Thump

July 02, 2018
The window dressing ahead of the end of Q2 failed to signal a turn in sentiment.  Equity markets have taken back those gains and more.  The US dollar is broadly firmer, though it was coming off its best levels near midday in Europe, and the three-basis-point slippage puts the US 10-year yield at 2.83%, its lowest in more than a month.  
Investors a…
Third Quarter Begins With a Thump Third Quarter Begins With a Thump Reviewed by Marc Chandler on July 02, 2018 Rating: 5
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Trade and Data Driving Markets

July 01, 2018
US President Trump is intent on disrupting the post-WWII arrangement that prioritized and ideological conflict over economic rivalries.  Last week, it was reported that Trump told his counterparts at the G7 summit that NATO was as bad as NAFTA.  NATO's annual meeting is July 12.  Trump seeks a realignment of alliances and appears to prefer the…
Trade and Data Driving Markets Trade and Data Driving Markets Reviewed by Marc Chandler on July 01, 2018 Rating: 5
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