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Greenback Stabilizes

October 22, 2020
Overview:  Two sets of talks have riveted attention, and both appeared to have made progress yesterday. After some words, the EC, recognizing the importance of UK sovereignty, UK Prime Minister Johnson signaled a resumption of trade talks. In the US, Pelosi and Mnuchin appear to be on the verge of a deal. The dollar is consolidating yesterday'…
Greenback Stabilizes Greenback Stabilizes Reviewed by Marc Chandler on October 22, 2020 Rating: 5
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Dollar Slumps as Yields Rise

October 21, 2020
Overview:  The dollar is falling against most of the world's currencies today, even as long-term yields rise to the most in four months and drags global yields higher.  The US 10-year yield is pushing above 0.80%, and the 30-year is above 1.60%.  Many are linking the backup in yields to prospects of additional fiscal support.  European benchma…
Dollar Slumps as Yields Rise Dollar Slumps as Yields Rise Reviewed by Marc Chandler on October 21, 2020 Rating: 5
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Narrowly Mixed Markets as Clearer Direction Sought

October 20, 2020
Overview:  The capital markets lack a clear direction today.  This is reflected in narrowly mixed equities, bonds, and currencies.  The spreading contagion is giving rise to new economic concerns, among other things, and the UK-EU talks are struggling to resume, while Pelosi-Mnuchin talks in the US continue to drag.  In the Asia Pacific region, Ja…
Narrowly Mixed Markets as Clearer Direction Sought Narrowly Mixed Markets as Clearer Direction Sought Reviewed by Marc Chandler on October 20, 2020 Rating: 5
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Sterling Sparkles in Dollar Setback

October 19, 2020
Overview:  Investors have not let the surge of the virus or uncertainty over the UK-EU talks or US fiscal stimulus to stand in their way.  Sterling is leading the major currencies higher, returning to the $1.30 area, while global equities are trading higher.  In the Asia Pacific region, Chinese shares, and Thailand, where large-scale protests cont…
Sterling Sparkles in Dollar Setback Sterling Sparkles in Dollar Setback Reviewed by Marc Chandler on October 19, 2020 Rating: 5
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Sterling and Yuan Resilience, While Rate Differentials Aid Dollar?

October 18, 2020
The US dollar rose against nearly all the major currencies last week.  The yen was the sole exception.  Risk appetites were shaken by repeated cycles of hope and disappointment over the outlook for additional fiscal support in the US and Europe's brinkmanship in the UK-EU trade talks.  For the most part, the greenback did not break above key c…
Sterling and Yuan Resilience, While Rate Differentials Aid Dollar? Sterling and Yuan Resilience, While Rate Differentials Aid Dollar? Reviewed by Marc Chandler on October 18, 2020 Rating: 5
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Macro Drivers

October 17, 2020
Macro memes are likely to eclipse the high-frequency economic data in the coming days.  The preliminary PMIs are among the first survey data for the new month, and October's are on tap next week.  The key reason that there may be downside risks in the US and Europe, especially in services, is the virus's resurgence and new restrictions.  A…
Macro Drivers Macro Drivers Reviewed by Marc Chandler on October 17, 2020 Rating: 5
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Deja Vu All Over Again

October 16, 2020
Overview:  It was like deja vu all over again.  First, the market reacted immodestly to headlines indicating there was little chance of pre-election fiscal stimulus in the US.  It was hardly new news.  Then the market seemed to react with surprise that there was no last-minute breakthrough in the UK-EU trade negotiations.  Prime Minister Johnson c…
Deja Vu All Over Again Deja Vu All Over Again Reviewed by Marc Chandler on October 16, 2020 Rating: 5
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