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Markets Look for more Solid Footing, but Need to Get Passed US Jobs Data

September 04, 2020
Overview: The dramatic sell-off of US shares yesterday is the main focus, capturing the limelight from other forces, including today's US employment report.  It was the third-worst session for the S&P 500 since the March 23 bottom, and the other two did not see follow-through selling.  Asia Pacific shares tumbled, led by Australia's 3%…
Markets Look for more Solid Footing, but Need to Get Passed US Jobs Data Markets Look for more Solid Footing, but Need to Get Passed US Jobs Data Reviewed by Marc Chandler on September 04, 2020 Rating: 5
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Corrective Forces Maintain Grip

September 03, 2020
Overview:  The US dollar is continuing to recover after hitting new lows earlier in the week.  It is lower against all the major currencies and most of the emerging markets.  A report in the Financial Times suggesting that there is a concern about the euro's recent strength at the ECB has added a bit more fuel to the move, and the euro, which …
Corrective Forces Maintain Grip Corrective Forces Maintain Grip Reviewed by Marc Chandler on September 03, 2020 Rating: 5
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Corrective Pressures Give the Greenback a Reprieve

September 02, 2020
Overview: After poking above $1.20 for the first time in more than two years, the euro reversed lower yesterday and is continuing to succumb to profit-taking pressures today.  Comments from ECB's Lane appeared to trigger a reversal yesterday throughout the currency markets.  Gold also reversed after approaching the $2000 level, and follow-thro…
Corrective Pressures Give the Greenback a Reprieve Corrective Pressures Give the Greenback a Reprieve Reviewed by Marc Chandler on September 02, 2020 Rating: 5
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September Monthly

September 01, 2020
The US dollar's rally in the initial phases of the pandemic has been unwound, and sentiment appears to be the most negative since the Great Financial Crisis.  New lows for the year against the euro, Swiss franc, the British pound, Swedish krona, and the Australian dollar were recorded in recent weeks. The Dollar Index (DXY), which is heavily …
September Monthly September Monthly Reviewed by Marc Chandler on September 01, 2020 Rating: 5
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Dollar Lurches Lower

September 01, 2020
Overview:  The US dollar has been sold-off across the board.  The euro approached $1.20, and sterling neared $1.3450.  The greenback traded below CAD1.30 for the first time since January.  Most emerging market currencies but the Turkish lira, are also advancing today.  The S&P 500 seven-day rally was snapped yesterday, but Asia Pacific bourses…
Dollar Lurches Lower Dollar Lurches Lower Reviewed by Marc Chandler on September 01, 2020 Rating: 5
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Month-End Gyrations and the Fed's Ad Hocery

August 31, 2020
Overview: Markets are searching for direction at month-end. Asia Pacific shares outside of Japan lower. Berkshire Hathaway confirmed taking a $6 bln stake in Japanese trading companies over the past year, and the pullback in the yen helped lift shares.  The MSCI Asia Pacific Index rose 2% last week.  European bourses are higher, and the Dow Jones …
Month-End Gyrations and the Fed's Ad Hocery Month-End Gyrations and the Fed's Ad Hocery Reviewed by Marc Chandler on August 31, 2020 Rating: 5
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A Look at the Price Action

August 30, 2020
The idea that the Federal Reserve would tolerate higher inflation to compensate for the undershoot would on its face be dollar negative. Make no mistake about it. After a wobble, the dollar fell. It recorded new lows for the year against the British pound, Australian dollar, and Swedish krona ahead of the weekend. New lows for the month recor…
A Look at the Price Action A Look at the Price Action Reviewed by Marc Chandler on August 30, 2020 Rating: 5
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