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July 2024 Monthly

June 29, 2024
July is about the Olympics and reaping what was sown in June. The UK and France will have new governments. There will be a new European Commission. China will hold its Third Plenum session, out of which many expect new measures to support the economy.The Bank of Japan may announce a plan to reduce its bond purchases, which are approximately the sa…
July 2024 Monthly July 2024 Monthly Reviewed by Marc Chandler on June 29, 2024 Rating: 5
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Will the PCE Deflator Really Contain New Information?

June 28, 2024
Overview: The US dollar is narrowly mixed as North American participants prepare to return for the last session of the first half. Despite firmer than expected Tokyo CPI and stronger than expected industrial output, the market lifted the greenback around JPY161.25 before profit-taking pressures bought it back toward session lows near JPY160.65 in …
Will the PCE Deflator Really Contain New Information? Will the PCE Deflator Really Contain New Information? Reviewed by Marc Chandler on June 28, 2024 Rating: 5
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The Greenback Consolidates while Sustaining Break against the Yen

June 27, 2024
Overview: The dollar is sporting a softer profile today against all the G10 currencies but the Swedish krona. The Riksbank sounded more dovish than previously, signaling the possibility of a cut in each of the last three meetings of the year. The dollar has sustained its push above JPY160 against the Japanese yen. Most emerging market currencies a…
The Greenback Consolidates while Sustaining Break against the Yen The Greenback Consolidates while Sustaining Break against the Yen Reviewed by Marc Chandler on June 27, 2024 Rating: 5
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USD Pushes above JPY160

June 26, 2024
Overview: The dollar is firm, and the market is challenging the JPY160 level, which it has traded above in Europe. Japanese officials say that they do not defend a specific level. The market is nervous though and some participants have professed intentions to sell dollars above there. The Australian dollar is the main exception to the greenback…
USD Pushes above JPY160 USD Pushes above JPY160 Reviewed by Marc Chandler on June 26, 2024 Rating: 5
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Nervous Calm Hangs over the Markets

June 25, 2024
Overview:  San Francisco Federal Reserve President Daly spoke aloud what many are thinking. The US labor market may be at an inflection point. The four-week moving average of weekly jobless claims is at the highest since last September and the early call for July nonfarm payrolls is about 185k, which if true, would be a sub-200k reading for the se…
Nervous Calm Hangs over the Markets Nervous Calm Hangs over the Markets Reviewed by Marc Chandler on June 25, 2024 Rating: 5
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US Dollar Offered, but Intra-Day Momentum Indicators are Stretched

June 24, 2024
Overview: The Dollar Index reached its best level since May 1 before the weekend but has come back softer against all the G10 currencies and most emerging market currencies. There is no apparent driver, and the intraday day momentum indicators caution against expecting much in the way of follow through gains in North America. The dollar edged clos…
US Dollar Offered, but Intra-Day Momentum Indicators are Stretched US Dollar Offered, but Intra-Day Momentum Indicators are Stretched Reviewed by Marc Chandler on June 24, 2024 Rating: 5
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Week Ahead: Politics, Economics, and the Yen

June 22, 2024
The relationship between interest rate expectations and the foreign exchange levels is more complicated than many textbooks or conventional wisdom allows. Australia's and Norway's central banks pushed against rate cuts this year, and their currencies were rewarded. The Reserve Bank of New Zealand said more or less the same thing, but inves…
Week Ahead: Politics, Economics, and the Yen Week Ahead: Politics, Economics, and the Yen Reviewed by Marc Chandler on June 22, 2024 Rating: 5
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