Marc to Market Marc Chandler on Global FX and Capital Markets

Week Ahead: BOE and RBA to Standpat, Political Anxiety Runs High, Giving the Dollar a Lift

Marc Chandler June 15, 2024

Under other circumstances, the softer than expected US inflation readings and the subsequent sharp drop in US interest rates would have weighed on the US dollar. Instead, the greenback managed to do well, especially against the euro, sterling, and Japanese yen. The 0.6% rise in the Dollar Index was the biggest gain in two months. The Fed's haw…

Week Ahead: BOE and RBA to Standpat, Political Anxiety Runs High, Giving the Dollar a Lift Week Ahead: BOE and RBA to Standpat, Political Anxiety Runs High, Giving the Dollar a Lift

Reviewed by Marc Chandler on June 15, 2024 Rating: 5

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Self-Inflicted Wounds in Europe and Japan Help the Greenback Shrug Off the Drag of Lower Rates

Marc Chandler June 14, 2024

Overview: The dollar is bid. What makes its performance standout is that it is taking place as US rates have fallen. The US 10-year yield is near 4.20%, the lowest in more than two months. The two-year yield is near 4.67%. It has fallen every session this week for a cumulative decline of more than 20 bp. It is not so much that constructive develop…

Self-Inflicted Wounds in Europe and Japan Help the Greenback Shrug Off the Drag of Lower Rates

Reviewed by Marc Chandler on June 14, 2024 Rating: 5

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Dollar Comes Back Bid

Marc Chandler June 13, 2024

Overview: The dollar fell alongside US rates yesterday after the softer than expected CPI. The move on both rates and the dollar were pared after the FOMC meeting which held rates steady as widely expected, but the median dot now anticipated one cut this year rather than three. The dollar has recovered more ground today and is trading with a sligh…

Dollar Comes Back Bid

Reviewed by Marc Chandler on June 13, 2024 Rating: 5

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Double Whammy: US CPI and Federal Reserve

Marc Chandler June 12, 2024

Overview: Position adjustments ahead of today's US CPI and FOMC meeting are giving the dollar a modestly heavier tone today. Each of these events are typically a source of volatility in their own right and together they promise an eventful North American session. The yen is the only exception among the G10 currencies, but even there, the dolla…

Double Whammy: US CPI and Federal Reserve Double Whammy: US CPI and Federal Reserve

Reviewed by Marc Chandler on June 12, 2024 Rating: 5

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Greenback Remains Firm, Still Driest Towel on the Rack

Marc Chandler June 11, 2024

Overview: The US dollar is firm against all the G10 currencies, except for sterling, which is straddling unchanged levels after labor market report that showed an uptick earnings remain elevated, and the unemployment rate ticked up to a new high since September 2021. The dollar reached a new six-day high against the Japanese yen near JPY157.40. T…

Greenback Remains Firm, Still Driest Towel on the Rack

Reviewed by Marc Chandler on June 11, 2024 Rating: 5

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Euro Sold After EU Parliament Elections and Macron's Gambit

Marc Chandler June 10, 2024

Overview: With mixed elements, the market took the US jobs data as relatively strong and took the dollar and US rates higher. The EU Parliament election has shaken up European politics, with the Belgium government collapsing and French President Macron calling a snap legislative election for the end of the month. Holidays in China, Hong Kong, Tai…

Euro Sold After EU Parliament Elections and Macron's Gambit

Reviewed by Marc Chandler on June 10, 2024 Rating: 5

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Week Ahead: FOMC, BOJ, and US and China Inflation

Marc Chandler June 08, 2024

The market got caught leaning the wrong way. The weakness in April's high-frequency US data encouraged participants to push the US two-year yield to its recent floor near 4.70% and took the 10-year yield to two-month lows, slightly above 4.25%. The Dollar Index was driven below the uptrend line drawn off the December 2023 and March and May 202…

Week Ahead: FOMC, BOJ, and US and China Inflation Week Ahead: FOMC, BOJ, and US and China Inflation