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September 2025 Monthly

August 30, 2025
The Federal Reserve is poised to resume its rate cutting cycle in September. Markets briefly flirted with the idea of a 50-basis point move, but sticky core inflation, a larger-than-expected jump in producer prices, and firm retail sales have settled expectations at a quarter-point cut. The Fed continues to describe policy as restrictive, so this …
September 2025 Monthly September 2025 Monthly Reviewed by Marc Chandler on August 30, 2025 Rating: 5
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Chop Fest in FX Continues

August 29, 2025
Overview: Ahead of the long holiday weekend in North America, the US dollar is trading with a slightly firmer bias in narrow trading ranges. The drama around the Fed has intensified with FHFA Director Pulte sending a new criminal referral against Governor Cook regarding a third mortgage, while Governor Waller reiterated his dissent from last month…
Chop Fest in FX Continues Chop Fest in FX Continues Reviewed by Marc Chandler on August 29, 2025 Rating: 5
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China Allows Faster Yuan Appreciation, while Follow-Through Selling Weighs on the Greenback China Allows Faster Yuan Appreciation, while Follow-Through Selling Weighs on the Greenback Reviewed by Marc Chandler on August 28, 2025 Rating: 5
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US Dollar Comes Back Bid

August 27, 2025
Overview: After yesterday's pullback, the US dollar has rebounded. It is trading its best level against several of the G10 currencies since Fed Chair Powell spoke at Jackson Hole before the weekend. Most emerging market currencies are weaker, too, with the notable exception of the pegged Hong Kong dollar, and the Thai baht. The PBOC set the do…
US Dollar Comes Back Bid US Dollar Comes Back Bid Reviewed by Marc Chandler on August 27, 2025 Rating: 5
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Market Sees Challenge to Fed's Independence by Trump's Attempt to Fire Cook Market Sees Challenge to Fed's Independence by Trump's Attempt to Fire Cook Reviewed by Marc Chandler on August 26, 2025 Rating: 5
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Markets Consolidate after the Big Moves Before the Weekend

August 25, 2025
Overview: The US markets responded dramatically to Federal Reserve Chair Powell's speech at Jackson Hole before the weekend. In today's late August session devoid of much news, the markets are consolidating. The dollar is in narrow ranges, and there may be some more corrective upticks in North America today. Emerging market currencies are …
Markets Consolidate after the Big Moves Before the Weekend Markets Consolidate after the Big Moves Before the Weekend Reviewed by Marc Chandler on August 25, 2025 Rating: 5
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Week Ahead: Fundamentals and Technicals Give Greenlight to Sell Dollars

August 23, 2025
The market was caught leaning the wrong way. Anticipation that Federal Reserve Chair Powell was going to push against speculation of a September rate cut had underpinned the US dollar and short-term rates. The S&P 500 had sold off for five consecutive sessions, the longest losing streak of the year through August 21. Powell said two things tha…
Week Ahead: Fundamentals and Technicals Give Greenlight to Sell Dollars Week Ahead: Fundamentals and Technicals Give Greenlight to Sell Dollars Reviewed by Marc Chandler on August 23, 2025 Rating: 5
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