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Equities Stabilizing While the Greenback Remains Under Pressure

February 19, 2021
Overview: The bond and equity markets are trying to stabilize ahead of the weekend.  The dollar remains under pressure.  In the Asia Pacific region, Hong Kong, China, and South Korean markets advanced, but most markets could not overcome the profit-taking pressures.  Europe's Dow Jones Stoxx 600 is faring better as it tries to snap a three-day…
Equities Stabilizing While the Greenback Remains Under Pressure Equities Stabilizing While the Greenback Remains Under Pressure Reviewed by Marc Chandler on February 19, 2021 Rating: 5
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Markets Chill

February 18, 2021
Overview:  The bout of profit-taking in equities continued today, and most markets in Asia Pacific and Europe are lower.  China's markets re-opened but struggled to sustain early gains. However, the Shanghai Composite rose by about 0.5%, and a smaller increase was recorded in Taiwan and an even smaller gain in Australia.  Europe's Dow Jone…
Markets Chill Markets Chill Reviewed by Marc Chandler on February 18, 2021 Rating: 5
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Follow-Through Dollar Buying after Yesterday's Reversal Tests the Bears

February 17, 2021
Overview:  After reversing higher yesterday, the US dollar sees follow-through gains today, leaving the euro around a cent lower from yesterday's highs. Sterling's surge is also being tempered. Most emerging market currencies are lower as well.  The jump in bond yields has stalled, but only after Australia and New Zealand yields surged eig…
Follow-Through Dollar Buying after Yesterday's Reversal Tests the Bears Follow-Through Dollar Buying after Yesterday's Reversal Tests the Bears Reviewed by Marc Chandler on February 17, 2021 Rating: 5
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Greenback Remains Heavy

February 16, 2021
Overview: The equity rally appears undeterred by the rise in interest rates or the surge in oil prices.  Led by Tokyo and Hong Kong, Asia Pacific equities advanced.  China, Taiwan, and Vietnam markets remain closed. After gapping higher yesterday and extending the gains in early turnover today, the Dow Jones Stoxx 600 is consolidating.  US shares …
Greenback Remains Heavy Greenback Remains Heavy Reviewed by Marc Chandler on February 16, 2021 Rating: 5
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Sterling Continues to Run Higher and US Winter Storm Gives Oil Another Boost Sterling Continues to Run Higher and US Winter Storm Gives Oil Another Boost Reviewed by Marc Chandler on February 15, 2021 Rating: 5
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Will Divergence give the Dollar another Leg Up?

February 14, 2021
The "correction within the correction" that we dubbed the pullback in the dollar that began with the January job report looks to have been completed last week. Some of our targets, JPY104.40 and $1.2150 in the euro, worked well, and sterling made new highs since May 2018. The Canadian and Australian dollars overshot our objectives.   The…
Will Divergence give the Dollar another Leg Up? Will Divergence give the Dollar another Leg Up? Reviewed by Marc Chandler on February 14, 2021 Rating: 5
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Reflections on Counter-Value Macro

February 13, 2021
It may be a bit morbid, but consider the targeting of missiles for a moment.  One broad strategy is called counter-value; the value, of course, is people.  This is the sanitized way that targeting urban centers is discussed.  The alternative is counter-force, the force being the enemy's missiles.  Counter-force sounds like a more humane target…
Reflections on Counter-Value Macro Reflections on Counter-Value Macro Reviewed by Marc Chandler on February 13, 2021 Rating: 5
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Animal Spirits Start the Weekend Early

February 12, 2021
Overview:  Profit-taking weighs on equity markets, and the dollar is trading higher ahead of the weekend.  Most Asia Pacific markets are still closed for the holiday, but Victoria's snap lockdown dragged Australian shares lower.  Japan and Indian markets were narrowly mixed, but the selling pressure is clearer in Europe, where the Dow Jones St…
Animal Spirits Start the Weekend Early Animal Spirits Start the Weekend Early Reviewed by Marc Chandler on February 12, 2021 Rating: 5
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Oil Set to Snap 8-day Advance while Consolidative Tone Emerges in FX

February 11, 2021
Overview: The S&P 500 and NASDAQ were unable to sustain the gap higher opening to new record levels and reversed lower and fell to new three-lows.  The settlements were just inside Tuesday ranges, though the Dow Industrials set a record close. Yet, there was spillover to equity trading in the Asia Pacific region and Europe today.  Most of the …
Oil Set to Snap 8-day Advance while Consolidative Tone Emerges in FX Oil Set to Snap 8-day Advance while Consolidative Tone Emerges in FX Reviewed by Marc Chandler on February 11, 2021 Rating: 5
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