Results for Currency Movements
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China was a Currency Manipulator for a Few Months

January 14, 2020
Overview:  The leaked US decision to lift the currency manipulator designation on China was the latest fodder fueling the new record highs in the S&P 500. The risk-taking appetite helped extend the rally in the MSCI Asia Pacific Index for the fourth consecutive session. Europe's Dow Jones Stoxx 600 is little changed and trying to snap a tw…
China was a Currency Manipulator for a Few Months China was a Currency Manipulator for a Few Months Reviewed by Marc Chandler on January 14, 2020 Rating: 5
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Realism Fights Back After Hope Dominated Yesterday

August 27, 2019
Overview:  Hope triumphed over realism yesterday, and realism is fighting back toward.  Asia Pacific markets, however, traded on the echo from the recovery in North America on Monday.  The MSCI Asia Pacific recouped part of yesterday's drop, led by Chinese markets.  Hong Kong was the main exception.  The enthusiasm faded by the European mornin…
Realism Fights Back After Hope Dominated Yesterday Realism Fights Back After Hope Dominated Yesterday Reviewed by Marc Chandler on August 27, 2019 Rating: 5
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Trump's "Call from China" helps Markets Recover

August 26, 2019
Overview:  The anticipated growth implications of the heightened tensions between the world's two largest economies is dominating activity at the start of the new week. These considerations that drove the 2.6% drop in the S&P 500 before the weekend is carrying over into today's activity.  The dollar was driven below JPY105 support, whi…
Trump's "Call from China" helps Markets Recover Trump's "Call from China" helps Markets Recover Reviewed by Marc Chandler on August 26, 2019 Rating: 5
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Market has Second Thoughts on Magnitude of Fed Cuts Ahead of Powell

August 23, 2019
Overview:  Powell speech at Jackson Hole stands before the weekend.  Equities in Asia and Europe are finishing the week on a firm tone.  Most markets in the Asia Pacific region closed higher today, and the MSCI Asia Pacific Index snapped a four-week slide.  European bourses are edging higher, and the Dow Jones Stoxx 600 is poised to end its three-…
Market has Second Thoughts on Magnitude of Fed Cuts Ahead of Powell Market has Second Thoughts on Magnitude of Fed Cuts Ahead of Powell Reviewed by Marc Chandler on August 23, 2019 Rating: 5
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Tick Up in EMU PMI Does Little, Waiting for Powell

August 22, 2019
Overview:  Soft data in Asia and the continued decline in the yuan (six days and counting) prevented Asian equities from following the US lead from yesterday when the S&P 500 advanced by 0.8%. European shares are paring yesterday's 1.2% advance despite an unexpected gain in the EMU flash PMI.  US shares are little changed in the European m…
Tick Up in EMU PMI Does Little, Waiting for Powell Tick Up in EMU PMI Does Little, Waiting for Powell Reviewed by Marc Chandler on August 22, 2019 Rating: 5
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Marking Time Ahead of PMI and Powell

August 20, 2019
Overview:  Global equities and bonds are firmer in quiet turnover, and the dollar is narrowing mixed in narrow ranges.  The big events of the week, the eurozone flash PMI and Powell's speech at Jackson Hole still lie ahead.  The MSCI Asia Pacific Index rose for the third consecutive session, led by Korea and Australia's 1%+ gains.  Europe&…
Marking Time Ahead of PMI and Powell Marking Time Ahead of PMI and Powell Reviewed by Marc Chandler on August 20, 2019 Rating: 5
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China's Rate Reform Helps Markets Extend End of Last Week Recovery

August 19, 2019
Overview: China announced some changes in its interest rate framework that is expected to lead to lower rates.  This helped lift equity markets, which were already recovering at the end of last week from the earlier drubbing.  Chinese and Hong Kong shares led the regional rally with 2-3% gains.  The Nikkei gapped higher for the third time in six s…
China's Rate Reform Helps Markets Extend End of Last Week Recovery China's Rate Reform Helps Markets Extend End of Last Week Recovery Reviewed by Marc Chandler on August 19, 2019 Rating: 5
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Markets Take Collective Breath Ahead of the Weekend

August 16, 2019
Overview:  The global capital markets are ending the tumultuous week calmly, but it is far from clear that is will hold long.  Next week's flash PMIs have potential to disappoint, and there is risk of new escalation in the US-China trade conflict as the PRC threatens to take action to countermeasures to the new US tariffs. Most equity markets …
Markets Take Collective Breath Ahead of the Weekend Markets Take Collective Breath Ahead of the Weekend Reviewed by Marc Chandler on August 16, 2019 Rating: 5
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Animal Spirits Lick Wounds

August 15, 2019
Overview:  It took some time for investors to recognize that the scaling back of US tariff plans was not part of a de-escalation agreement. There was an explicit acknowledgment by US Commerce Secretary Ross that there was no quid pro quo. The US tariff split was more about the US than an overture to China.  In fact, as China did in September whe…
Animal Spirits Lick Wounds Animal Spirits Lick Wounds Reviewed by Marc Chandler on August 15, 2019 Rating: 5
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