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Consolidation Featured Ahead of the Weekend

August 14, 2020
Overview: The equity rally is stalling ahead of the weekend.  Most markets in the Asia Pacific region eased, though China and Australia advanced.  Japanese shares were mixed.  The Nikkei, though advanced for the fourth consecutive session, while the Topis slipped.  European stocks are off more, and once again, the 200-day moving averaging is cappi…
Consolidation Featured Ahead of the Weekend Consolidation Featured Ahead of the Weekend Reviewed by Marc Chandler on August 14, 2020 Rating: 5
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Dollar Remains Offered

August 13, 2020
Overview: The poor price action on Tuesday in the S&P 500 was shrugged off, and new highs for the recovery were made as the record high nears.  The dollar, on the other hand, seemed to find plenty of sellers against most of the major currencies.  The yen was a notable exception.  The dollar traded above JPY107 for the first time nearly three w…
Dollar Remains Offered Dollar Remains Offered Reviewed by Marc Chandler on August 13, 2020 Rating: 5
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Dollar was Sold in Asia and Europe, but is Poised to Bounce in North America Dollar was Sold in Asia and Europe, but is Poised to Bounce in North America Reviewed by Marc Chandler on August 12, 2020 Rating: 5
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Gold and the Dollar are Sold while Stocks March Higher

August 11, 2020
Overview:   A rotation of sorts seems to be unfolding.  The euro posted its second back-to-back loss in over a month. The Canadian dollar, which has been an under-performer among the major currencies for the past six weeks, gained, while most fell.  The Dow Industrials and S&P 500 rose, the high flying NASDAQ fell for the second consecutive se…
Gold and the Dollar are Sold while Stocks March Higher Gold and the Dollar are Sold while Stocks March Higher Reviewed by Marc Chandler on August 11, 2020 Rating: 5
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Speculative Positioning in Selected Currency Futures

August 10, 2020
With the media playing up the US dollar's negatives, one would think speculators are short the greenback like there is no tomorrow.  Yet a review of the Commitment of Traders report that covers the week through last Tuesday, August 4, shows that this is not really the case.  
Below the speculative positioning of four currency futures is reviewe…
Speculative Positioning in Selected Currency Futures Speculative Positioning in Selected Currency Futures Reviewed by Marc Chandler on August 10, 2020 Rating: 5
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Monday in August

August 10, 2020
Overview: The new week has begun slowly with Singapore and Tokyo markets closed for national holidays.  The MSCI Asia Pacific Index rose 2% last week and edged higher today, led by 1.5%-1.7% rallies in South Korea and Australia.  Hong Kong was a notable exception and eased around 0.6%.  Europe's Dow Jones Stoxx 600 also advanced 2% last week a…
Monday in August Monday in August Reviewed by Marc Chandler on August 10, 2020 Rating: 5
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About that Dollar Bounce

August 09, 2020
The US dollar did not recover as much ahead of the jobs as we flagged a week ago, and the technical condition is still stretched.  The price action lends credence to our view that a technical consolidative/corrective phase is at hand. Further near-term dollar recovery looks likely but does not change our longer-term bearish outlook.
Dollar Index: 
About that Dollar Bounce About that Dollar Bounce Reviewed by Marc Chandler on August 09, 2020 Rating: 5
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The Ant and the Grasshopper: A Window into Macro Part II

August 08, 2020
Regardless of the dollar's role and function in the world economy and the halls of finance, in the near and intermediate terms, investors and businesses are more concerned with foreign exchange prices.  The greenback has fallen out of favor. Its main supports, like wide interest rate differentials, favorable growth differentials, and political…
The Ant and the Grasshopper: A Window into Macro Part II The Ant and the Grasshopper:  A Window into Macro  Part II Reviewed by Marc Chandler on August 08, 2020 Rating: 5
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The Ant and the Grasshopper: A Window into Macro Part I

August 08, 2020
Spurred by a few op-ed pieces and a couple of investment bank "research" notes, the mainstream and social media have been talking about others talking about the dollar losing its reserve status or its larger role in the global economy.  Few appear to really think it is likely in anything that approaches the time horizon of most investors…
The Ant and the Grasshopper: A Window into Macro Part I The Ant and the Grasshopper:  A Window into Macro  Part I Reviewed by Marc Chandler on August 08, 2020 Rating: 5
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