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Central Bank Meetings Featured

January 18, 2020
The US dominated the news stream at the start of 2020.  The spasm in the US-Iran confrontation has quickly subsided.  The much-heralded US-China Phase 1 trade deal has been signed.  The US has completed the ratification process of the US Mexico Canada Free-Trade Agreement.  The early signs from the economic entrails suggest the world’s largest eco…
Central Bank Meetings Featured Central Bank Meetings Featured Reviewed by Marc Chandler on January 18, 2020 Rating: 5
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China and the UK Surprise in Opposite Directions

January 17, 2020
Overview:  Helped by new record highs in the US, global stocks are moving higher today. Nearly all the markets in the Asia Pacific region advanced and the seventh consecutive weekly rally is the longest in a couple of years. Europe's Dow Jones Stoxx 600 is at new record highs and appears set to take a four-day streak into next week. US shares …
China and the UK Surprise in Opposite Directions China and the UK Surprise in Opposite Directions Reviewed by Marc Chandler on January 17, 2020 Rating: 5
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Markets Look for New Cues with US-China Trade Pact Signed

January 16, 2020
Overview:The global capital markets are calm today as investors await fresh trading incentives. New record highs in the US equity indices gave Asia Pacific stocks a lift, though China and Taiwan were notable exceptions. Europe's Dow Jones Stoxx 600 is firm new record highs set last week.  US equities are edging higher in Europe. Benchmark bond…
Markets Look for New Cues with US-China Trade Pact Signed Markets Look for New Cues with US-China Trade Pact Signed Reviewed by Marc Chandler on January 16, 2020 Rating: 5
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Phase 1 Trade Deal Shifts Terrain of US-China Rivalry

January 15, 2020
Overview:  News that US tariffs on China will remain until through at least the November US election and continued US attempts to stymie China (e.g., more curbs on Huawei under consideration and stepped up efforts to force it to cut subsidies to business) have taken some momentum from the push into risk assets.  The MSCI Asia Pacific Index snapped…
Phase 1 Trade Deal Shifts Terrain of US-China Rivalry Phase 1 Trade Deal Shifts Terrain of US-China Rivalry Reviewed by Marc Chandler on January 15, 2020 Rating: 5
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China was a Currency Manipulator for a Few Months

January 14, 2020
Overview:  The leaked US decision to lift the currency manipulator designation on China was the latest fodder fueling the new record highs in the S&P 500. The risk-taking appetite helped extend the rally in the MSCI Asia Pacific Index for the fourth consecutive session. Europe's Dow Jones Stoxx 600 is little changed and trying to snap a tw…
China was a Currency Manipulator for a Few Months China was a Currency Manipulator for a Few Months Reviewed by Marc Chandler on January 14, 2020 Rating: 5
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Brexit Update

January 13, 2020
Three and half years after what was initially a non-binding referendum, the UK has seen its way to leave the EU.  The House of Commons passed the necessary legislation last week as Tories enjoys a parliamentary majority.  The House of Lords takes up the measures now. Although the Conservatives do not have a majority and a vigorous debate is expec…
Brexit Update Brexit Update Reviewed by Marc Chandler on January 13, 2020 Rating: 5
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Dismal Data Undercuts Sterling and Boosts Chances of a Rate Cut

January 13, 2020
Overview: There are two big stories today. The first is the large scale protests in Iran after the government admits to accidentally shooting down the commercial airliner amid the fog of war. The market impact seems minimal but fueling speculation that this, coupled with the economic hardship related to the US embargo, could topple the regime. Sec…
Dismal Data Undercuts Sterling and Boosts Chances of a Rate Cut Dismal Data Undercuts Sterling and Boosts Chances of a Rate Cut Reviewed by Marc Chandler on January 13, 2020 Rating: 5
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Technicals: The Underlying Signal

January 12, 2020
The heightened geopolitical risks and then the unwind drove the price action in the capital markets last week, the first full week of the new year.  These are the kind of markets that whipsaw even the most experienced and nimble among us.  We review the recent price action and technical condition of some of the major currencies and other instrumen…
Technicals: The Underlying Signal Technicals:  The Underlying Signal Reviewed by Marc Chandler on January 12, 2020 Rating: 5
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Back to Macro?

January 11, 2020
The US-China trade conflict and then US-Iran confrontation distracted investors from the macroeconomic drivers of the capital markets.   It is not that there is really much closure with the exogenous issues, but they are in a less challenging place, at least on the surface. 
A Chinese delegation, led by the Vice-Premier Liu He, who spearheaded the …
Back to Macro? Back to Macro?  Reviewed by Marc Chandler on January 11, 2020 Rating: 5
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