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After Dramatic Week, Capital Markets are Stabilizing

July 14, 2023
Overview: After tumbling headlong this week, the dollar appears to be broadly consolidating ahead of the weekend Among the G10 currencies, the Canadian dollar's 1.2% gain is the least and it made new 10-month highs earlier today The beleaguered Scandis soared The Norwegian krone's 6.6% advance followed by the Swedish krona's 5.8% surge…
After Dramatic Week, Capital Markets are Stabilizing After Dramatic Week, Capital Markets are Stabilizing Reviewed by Marc Chandler on July 14, 2023 Rating: 5
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Dollar Sell-Off is Getting Stretched

July 13, 2023
Overview: Softer-than-expected US CPI, following weaker than expected job growth has sent the greenback tumbling. The dollar is stabilizing against the yen today, but the downside momentum is intact against the other major currencies. The euro approached $1.1175, sterling $1.3080, and the greenback slumped to almost CHF0.8615. The Australian dolla…
Dollar Sell-Off is Getting Stretched Dollar Sell-Off is Getting Stretched Reviewed by Marc Chandler on July 13, 2023 Rating: 5
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US CPI and Bank of Canada Highlight North American Session

July 12, 2023
Overview: The US dollar's losses have been extended ahead of the June CPI. At the same time, speculation that the Bank of Japan will adjust policy later this month saw the yen extend its gains for the fifth consecutive session. Sterling made new highs since last April, while the Swiss franc has risen to its best levels in about 2 1/2 years. Th…
US CPI and Bank of Canada Highlight North American Session US CPI and Bank of Canada Highlight North American Session Reviewed by Marc Chandler on July 12, 2023 Rating: 5
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Powerful Short Squeeze Continues to Lift the Yen

July 11, 2023
Overview: The greenback remains under pressure. The yen's short squeeze continues, and strong wage growth has helped lift sterling to new highs since last April. Among the G10 currencies, only the Australian and New Zealand dollars are unable to sustain gains through the European morning. Emerging market currencies are also advancing, with a c…
Powerful Short Squeeze Continues to Lift the Yen Powerful Short Squeeze Continues to Lift the Yen Reviewed by Marc Chandler on July 11, 2023 Rating: 5
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The Greenback Stabilizes After Pre-Weekend Drop

July 10, 2023
Overview: The US dollar is mostly firmer after selling off hard before the weekend in response to the jobs data. Ranges are mostly narrow, but the Australian and New Zealand dollars are the heaviest following news of China's deflation. Emerging market currencies are mixed, but of note the liquid, freely accessible currencies, South African ran…
The Greenback Stabilizes After Pre-Weekend Drop The Greenback Stabilizes After Pre-Weekend Drop Reviewed by Marc Chandler on July 10, 2023 Rating: 5
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Week Ahead: Is the Dollar's Downtrend Resuming?

July 08, 2023
The dollar appears at an inflection point. Its failure to draw much traction even as US rates rose may be an important tell. The US 2-year yield rose to a new multiyear high near 5.12%, while the 10-year yield set a new high for the year around 4.09% after the employment report. The dollar's broad gains in the second half of last month look co…
Week Ahead: Is the Dollar's Downtrend Resuming? Week Ahead: Is the Dollar's Downtrend Resuming? Reviewed by Marc Chandler on July 08, 2023 Rating: 5
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Yen Extends Recovery on Wage Data, Yuan Ticks Up Too

July 07, 2023
Overview: A powerful short squeeze has lifted the yen by the most in two months this week. The dollar's push today below JPY143 was encouraged by the stronger than expected wage growth. The US jobs report will test its strength. The PBOC fixed the yuan sharply higher today and it is the only emerging market currency that is higher on the day, …
Yen Extends Recovery on Wage Data, Yuan Ticks Up Too Yen Extends Recovery on Wage Data, Yuan Ticks Up Too Reviewed by Marc Chandler on July 07, 2023 Rating: 5
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