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Week Ahead: US Dollar to Extend Recovery while Stocks Correct Lower

July 20, 2024
The consolidative phase for the dollar, we anticipated last week, after its recent drop, is evolving into a proper upside correction. We expect the dollar to trade broadly firmer over the next week or so. It is also part of a larger picture, where US interest rates also look to have put in a near-term bottom and are set to recover. Ideas that next…
Week Ahead: US Dollar to Extend Recovery while Stocks Correct Lower Week Ahead: US Dollar to Extend Recovery while Stocks Correct Lower Reviewed by Marc Chandler on July 20, 2024 Rating: 5
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Dollar Consolidation is Morphing into Correction

July 19, 2024
Jury duty assignment prevents a more comprehensive note, but here is a snapshot. Overview: The failure of computer systems has disrupted airlines, banks, media companies, and the London Stock Exchange, ostensibly stemming from an update from a third-party software update, according to Microsoft. The dollar is trading with a firmer bias. The consol…
Dollar Consolidation is Morphing into Correction Dollar Consolidation is Morphing into Correction Reviewed by Marc Chandler on July 19, 2024 Rating: 5
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Euro Trades Quietly Ahead of ECB Meeting

July 18, 2024
Jury duty assignment prevents a more comprehensive note, but here is a snapshot. Overview: The US dollar enjoys a firmer bias today, in mostly quiet turnover in narrow ranges. The Australian dollar is a noted exception, and the better than expected jobs growth may have lent it some resilience today. The greenback initially was sold to almost JPY15…
Euro Trades Quietly Ahead of ECB Meeting Euro Trades Quietly Ahead of ECB Meeting Reviewed by Marc Chandler on July 18, 2024 Rating: 5
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Dollar Crushed, Stocks Slump

July 17, 2024
Jury duty assignment prevents a more comprehensive note, but here is a snapshot. Overview: The dollar is broadly lower, and stocks are under pressure. Comments by a Japanese official, which did not appear to break new ground, coupled with Trump's interview in BusinessWeek, where he was critical that Japan was benefiting from a weak yen, despit…
Dollar Crushed, Stocks Slump Dollar Crushed, Stocks Slump Reviewed by Marc Chandler on July 17, 2024 Rating: 5
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BOJ Appears to have Intervened last Friday Too, but Market Sells Yen Anyway

July 16, 2024
Jury duty assignment prevents a more comprehensive note, but here is a snapshot. Overview: The US dollar is consolidating in narrow ranges against most of the G10 currencies. The Australian and New Zealand dollars, along with the Japanese yen are off by about 0.25%, but the others are +/- 0.10. The latest BOJ data appears to imply that officials i…
BOJ Appears to have Intervened last Friday Too, but Market Sells Yen Anyway BOJ Appears to have Intervened last Friday Too, but Market Sells Yen Anyway Reviewed by Marc Chandler on July 16, 2024 Rating: 5
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Dollar Consolidates to Start the New Week

July 15, 2024
Overview: The assassination attempt on former President Trump has injected a new dynamic as his chances of being re-elected appear to have risen. There are a few trades that seem to benefit from a second term:  steepening yield curve, weaker Mexican peso, and stronger crypto. The dollar initially strengthened as the market's initially responde…
Dollar Consolidates to Start the New Week Dollar Consolidates to Start the New Week Reviewed by Marc Chandler on July 15, 2024 Rating: 5
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Week Ahead: Following Up a Watershed Week

July 13, 2024
Slowing US jobs growth, the third consecutive rise in the unemployment rate, and the softer than expected CPI are a watershed. Although the Federal Reserve will not cut rates when it meets at the end of the month, Chair Powell will likely lay the groundwork for a cut in September. Indeed, the Fed funds future market has priced in slightly more tha…
Week Ahead: Following Up a Watershed Week Week Ahead: Following Up a Watershed Week Reviewed by Marc Chandler on July 13, 2024 Rating: 5
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