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Flash PMIs Play Second Fiddle to US PCE Deflator and Accelerating Inflation

November 20, 2021
The flash November PMIs would be the main focus in the week ahead if it were more normal times.  But these are not normal times, and growth prospects are not the key driver of the investment climate.  This quarters' growth is largely baked into the cake.  The world's three largest economies, the US, China, and Japan, are likely to accelera…
Flash PMIs Play Second Fiddle to US PCE Deflator and Accelerating Inflation Flash PMIs Play Second Fiddle to US PCE Deflator and Accelerating Inflation Reviewed by Marc Chandler on November 20, 2021 Rating: 5
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Covid Wave Knocks Euro Down and to new 6-year Lows Against the Swiss Franc

November 19, 2021
Overview:  Concerns about the virus surge in Europe cut short the euro's bounce and sent it back below $1.1300 and are also weighing on central European currencies, including the Hungarian forint, despite yesterday's aggressive hike of the one-week deposit rate.  Austria has reintroduced a hard 20-day lockdown.  Germany's health minist…
Covid Wave Knocks Euro Down and to new 6-year Lows Against the Swiss Franc Covid Wave Knocks Euro Down and to new 6-year Lows Against the Swiss Franc Reviewed by Marc Chandler on November 19, 2021 Rating: 5
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Euro Bounces Back, but the Turkish Lira Remains Unloved

November 18, 2021
Overview:  The US dollar's sharp upside momentum stalled yesterday near JPY115 and after the euro met (and surpassed) a key retracement level slightly below $1.1300.  Led by the Antipodean currencies today, the greenback is mostly trading with a heavier bias.  Among the majors, helped by a steadying of US yields, the yen is soft.  In the emerg…
Euro Bounces Back, but the Turkish Lira Remains Unloved Euro Bounces Back, but the Turkish Lira Remains Unloved Reviewed by Marc Chandler on November 18, 2021 Rating: 5
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European Gas Jumps, while the Euro and Yen Slump

November 17, 2021
Overview: The prospects that the 6.2% CPI will prompt the Fed to move quicker continue to underpin the dollar.  The euro fell to about $1.1265, its lowest level since last September, and the Japanese yen slumped to a fresh four-year low.  The JP Morgan Emerging Market Currency Index tumbled 1% yesterday, the largest decline since February.  A more…
European Gas Jumps, while the Euro and Yen Slump European Gas Jumps, while the Euro and Yen Slump Reviewed by Marc Chandler on November 17, 2021 Rating: 5
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Biden-Xi "Summit" Leaves Markets Unmolested, While Bailey Continues to Blame Investors for Misunderstanding Him Biden-Xi "Summit" Leaves Markets Unmolested, While Bailey Continues to Blame Investors for Misunderstanding Him Reviewed by Marc Chandler on November 16, 2021 Rating: 5
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