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Fed Pushes on an Open Door, and the Dollar's Recovery Goes into Overdrive

June 20, 2021
Dollar bearish sentiment is fickle. The shift in the Fed's economic projections, which saw the median view now anticipate not one but two hikes in 2023, has seen the bears beat a dramatic retreat.  Many have abandoned their view entirely.  In this weekly technical note, we have been tracking the improving tone for the dollar prior to the FOMC …
Fed Pushes on an Open Door, and the Dollar's Recovery Goes into Overdrive Fed Pushes on an Open Door, and the Dollar's Recovery Goes into Overdrive Reviewed by Marc Chandler on June 20, 2021 Rating: 5
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How Long is Transitory?

June 19, 2021
The Bank of England meeting on June 24th finishes this round of major central bank meetings.  At its last meeting, Bailey & Co reduced the weekly bond-buying.  The extension of social restrictions well into July provides added reason to be cautious, though economic activity is accelerating and consumer prices are rising faster than the medium-…
How Long is Transitory? How Long is Transitory? Reviewed by Marc Chandler on June 19, 2021 Rating: 5
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Markets Quiet Ahead of Triple Witching

June 18, 2021
Overview: After some dramatic moves over in the immediate post-Fed period, the markets have quieted. The kind of volatility that is sometimes associated with triple witching expirations in the US may have already taken place.  Asia Pacific equities were mixed, but the MSCI benchmark finished with its second consecutive weekly decline.  Europe'…
Markets Quiet Ahead of Triple Witching Markets Quiet Ahead of Triple Witching Reviewed by Marc Chandler on June 18, 2021 Rating: 5
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Fed Rocks the World

June 17, 2021
Overview: A more hawkish than expected Federal Reserve sent the US dollar and interest rates higher and spurred an equity sell-off.  The knock-on effect sent ripples through the capital markets today.  Most equity markets in the Asia Pacific region fell.  China, Hong Kong, and Taiwan were notable exceptions.  Europe's Dow Jones Stoxx 600 is sn…
Fed Rocks the World Fed Rocks the World Reviewed by Marc Chandler on June 17, 2021 Rating: 5
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Will the Fed Talk the Talk?

June 16, 2021
Overview: With the outcome of the FOMC meeting awaited, the dollar is narrowly mixed in quiet turnover.  The Scandis are the weakest (~-0.3%) among the majors, while the Antipodeans are the strongest (~+0.25%). JP Morgan's Emerging Market Currency Index is snapping a three-day decline.  Equity markets are mixed, with the MSCI Asia Pacific Inde…
Will the Fed Talk the Talk? Will the Fed Talk the Talk? Reviewed by Marc Chandler on June 16, 2021 Rating: 5
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Commodities Ease though Oil remains Firm

June 15, 2021
Overview:  The new record high in the S&P 500 and the NASDAQ's sixth gain in seven sessions may have helped lift Asia Pacific markets today.  Only China and Hong Kong did not participate.  MSCI's regional index rose for its fourth consecutive session.  Europe's Dow Jones Stoxx 600 is moving higher for the eighth session in a row.  …
Commodities Ease though Oil remains Firm Commodities Ease though Oil remains Firm Reviewed by Marc Chandler on June 15, 2021 Rating: 5
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Dollar Becalmed as Markets Wait for US Leadership

June 14, 2021
Overview: The short squeeze that lifted the US dollar ahead of the weekend has seen limited follow-through buying, and instead a consolidative tone emerged.  Europe is searching for direction and perhaps waiting for US leadership after a quiet Asia Pacific session, with several centers closed for holiday today (China, Hong Kong, Taiwan, and Austra…
Dollar Becalmed as Markets Wait for US Leadership Dollar Becalmed as Markets Wait for US Leadership Reviewed by Marc Chandler on June 14, 2021 Rating: 5
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