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The Yen Recovers on Verbal Intervention

April 30, 2026
The North American market understood yesterday’s Fed statement and the three dissents in favor of a neutral bias as a hawkish hold and rallied the dollar in response. Follow-through selling today has been minimal and the greenback is sporting a softer profile. The strongest currency today is the Japanese yen, which had fallen to its lowest level s…
The Yen Recovers on Verbal Intervention The Yen Recovers on Verbal Intervention Reviewed by Marc Chandler on April 30, 2026 Rating: 5
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Euro and ECB

April 29, 2026
The euro' fell nearly 1.65% in Q1, only to claw back about 1.25% in April. At one level, that looks like noise within a broader range. At another, it reflects a market that has been repeatedly and abruptly forced to reprice the policy outlook in response to shifting geopolitical and macroeconomic crosscurrents.The ECB meets tomorrow, and a haw…
Euro and ECB Euro and ECB Reviewed by Marc Chandler on April 29, 2026 Rating: 5
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Oil Prices Advance Ahead of What Will likely be Powell's Last FOMC Meeting (as Chair) Oil Prices Advance Ahead of What Will likely be Powell's Last FOMC Meeting (as Chair) Reviewed by Marc Chandler on April 29, 2026 Rating: 5
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Three Dissents in Favor of a Rate Hike Fail to Support the Yen

April 28, 2026
The markets seem nervous. The dollar is higher against all the G10 currencies and most emerging market currencies. June WTI, which was at $82.60 on April 17, is now pushing against $100. July Brent, which was at $86.50, is now approaching $105. Both are up for the sixth session of the past seven. Equities and bonds are mostly lower. Gold and silve…
Three Dissents in Favor of a Rate Hike Fail to Support the Yen Three Dissents in Favor of a Rate Hike Fail to Support the Yen Reviewed by Marc Chandler on April 28, 2026 Rating: 5
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New Iranian Proposal Helps Bolster Risk Appetites

April 27, 2026
The breakdown of talks between the US and Iran initially warned of a risk-off session, but a new Iranian proposal appears to have revived the hopes of a resolution. The US dollar is trading softer and equities in Asia Pacific and Europe rose while bond yields were under pressure. The front month crude oil contracts are trading around $2 a barrel h…
New Iranian Proposal Helps Bolster Risk Appetites New Iranian Proposal Helps Bolster Risk Appetites Reviewed by Marc Chandler on April 27, 2026 Rating: 5
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May 2026 Monthly

April 25, 2026
The global capital markets will enter May with a sense of transition rather than resolution. Neither the Federal Reserve, nor the European Central Bank or the Bank of Japan meet in the month ahead. The market is inclined to see the third consecutive hike by the Reserve Bank of Australia but the other G10 central banks that meet in May, Norway'…
May 2026 Monthly May 2026 Monthly Reviewed by Marc Chandler on April 25, 2026 Rating: 5
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Week Ahead: Dollar and Stocks Due for Corrections?

April 18, 2026
(No daily note this week while I am on a business trip but the May monthly will drop April 24. Thanks for your patience.)Progress in US-Iran negotiations and a ceasefire between Israel and Lebanon fed investor optimism. The US S&P 500 and Nasdaq reached new record highs, with multi-week rallies in tow. June WTI tumbled 7.6% last week, after th…
Week Ahead: Dollar and Stocks Due for Corrections? Week Ahead: Dollar and Stocks Due for Corrections? Reviewed by Marc Chandler on April 18, 2026 Rating: 5
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