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Market Boosts Odds of a BOE Rate Cut this Week

July 29, 2024
Overview: The US dollar is mostly firmer today ahead of what promises to be an eventful week. Sterling is bearing the brunt today, off a little less than half-of-a-cent as expectations creep up of a rate cut this week and Chancellor of the Exchequer Reeves plays up the poor state of public finances left by the Conservative government. Sterling (an…
Market Boosts Odds of a BOE Rate Cut this Week Market Boosts Odds of a BOE Rate Cut this Week Reviewed by Marc Chandler on July 29, 2024 Rating: 5
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Week Ahead: Alphabet Soup--BOJ, EMU CPI, FOMC, BOE, US NFP

July 27, 2024
A dollar-centric narrative would note that the greenback rose against most of the G10 currencies last week. Yet, the dollar, the most actively traded currency, was arguably not the prime mover in recent days. Rather, the unwinding of carry trades seems to be the driver of much of the price action. The low yielding yen and Swiss franc were the only…
Week Ahead: Alphabet Soup--BOJ, EMU CPI, FOMC, BOE, US NFP Week Ahead: Alphabet Soup--BOJ, EMU CPI, FOMC, BOE, US NFP Reviewed by Marc Chandler on July 27, 2024 Rating: 5
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Is the Dramatic Yen Short Squeeze Over?

July 26, 2024
Overview:  The powerful yen short squeeze that has roiled the capital market this week has stalled today. It is the first day this week that the dollar has not fallen below the previous day's low and has risen, though slightly, above previous session's high. The Antipodeans and Scandis are trading with a firmer bias. The yen and Swiss fran…
Is the Dramatic Yen Short Squeeze Over? Is the Dramatic Yen Short Squeeze Over? Reviewed by Marc Chandler on July 26, 2024 Rating: 5
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Yen's Surge Continues, while PBOC Surprises with Another Rate Cut, and US 2-30 Year Yield Curve Ends Inversion Yen's Surge Continues, while PBOC Surprises with Another Rate Cut, and US 2-30 Year Yield Curve Ends Inversion Reviewed by Marc Chandler on July 25, 2024 Rating: 5
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Greenback and Yen Extend Gains

July 24, 2024
Overview: The dollar's gains have been extended today, but in the risk-off mode, and unwinding of carry positions, the Japanese yen and Swiss franc are firmer.  the dollar has stabilized in late European morning turnover. The Bank of Canada is widely expected to cut rates today and the greenback is pushing against CAD1.38, which it has not tra…
Greenback and Yen Extend Gains Greenback and Yen Extend Gains Reviewed by Marc Chandler on July 24, 2024 Rating: 5
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Short Covering Squeezes the Yen Higher

July 23, 2024
Overview: The US dollar is firmer against all the G10 currencies but the Japanese yen. Local reports and the price action are consistent with short covering of the previously sold yen positions ostensibly ahead of next week's BOJ and FOMC meetings. Still, the greenback is holding above last week's low, slightly below JPY155.40. The Antipod…
Short Covering Squeezes the Yen Higher Short Covering Squeezes the Yen Higher Reviewed by Marc Chandler on July 23, 2024 Rating: 5
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Dollar Mixed as Markets Digest US Political Developments

July 22, 2024
Overview: News that President Biden will not seek re-election has left investors unsure of the next step, but PredictIt.org still points to a Trump advantage of slightly better than 60-40. It is not clear yet whether Vice-President Harris will be challenged for the nomination. The dollar is mixed against the G10 currencies, with the dollar bloc an…
Dollar Mixed as Markets Digest US Political Developments Dollar Mixed as Markets Digest US Political Developments Reviewed by Marc Chandler on July 22, 2024 Rating: 5
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