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Japanese Bond Rout Continues, While Disappointing PMI Weighs on the Euro

May 22, 2025
Overview: Disappointing flash May PMI readings in Europe and the Asia Pacific helped the US dollar stabilize after yesterday's drop. Asian currencies, including the yen, has been unsettled by reports that in bilateral trade discussions with the US, exchange rates have been discussed. This, coupled with extensive unhedged dollar exposure rocked…
Japanese Bond Rout Continues, While Disappointing PMI Weighs on the Euro Japanese Bond Rout Continues, While Disappointing PMI Weighs on the Euro Reviewed by Marc Chandler on May 22, 2025 Rating: 5
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Be Prepared for a Challenging Day

May 21, 2025
Overview: The greenback is under pressure. It is off against nearly all of the world's currencies after falling in North America yesterday. Reports that Israel may be planning a strike against Iranian nuclear facilities has contributed to the broad risk off moods and helped lift July WTI to new highs since early April. While the greenback is n…
Be Prepared for a Challenging Day Be Prepared for a Challenging Day Reviewed by Marc Chandler on May 21, 2025 Rating: 5
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Tug-of-War Over the Dollar Continues

May 20, 2025
Overview: US stocks and bonds recovered from yesterday's sell-off in Asia and Europe. The Swiss National Bank President Schlegel expressed the views of many Americans when he said on Monday that "There is currently no alternative" to US Treasuries, "and it's not foreseeable that there will be an alternative."  The 10- a…
Tug-of-War Over the Dollar Continues Tug-of-War Over the Dollar Continues Reviewed by Marc Chandler on May 20, 2025 Rating: 5
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Asia and Europe Respond to Moody's Belated Downgrade of the US

May 19, 2025
Overview: Moody’s took away the US AAA rating before the weekend. It was the last of the big three rating agencies to do so. We do not think there is fresh information content in its belated decision, but participants in Asia and Europe have reacted by selling the US dollar and US assets. The 30-year bond yield is above 5% and the 10-year yield is…
Asia and Europe Respond to Moody's Belated Downgrade of the US Asia and Europe Respond to Moody's Belated Downgrade of the US Reviewed by Marc Chandler on May 19, 2025 Rating: 5
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Week Ahead: Greenback's Recovery Looks Poised to Continue

May 17, 2025
The dollar traded choppily last week but settled higher against all the G10 currencies. It finished the week on a firm note. The messy upside correction for the dollar may continue. Despite disappointing retail sales and manufacturing output, and softer than expected CPI and PPI, the market has pushed the next Fed cut into Q4 from Q3. Most of the …
Week Ahead: Greenback's Recovery Looks Poised to Continue Week Ahead: Greenback's Recovery Looks Poised to Continue Reviewed by Marc Chandler on May 17, 2025 Rating: 5
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US to Impose Tariffs in 2-3 Weeks as Administration "Lacks Capacity" to Negotiate with Everyone US to Impose Tariffs in 2-3 Weeks as Administration "Lacks Capacity" to Negotiate with Everyone Reviewed by Marc Chandler on May 16, 2025 Rating: 5
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Asia and Europe Did Not Share North America's Enthusiasm for the Dollar

May 15, 2025
Overview: There has been little follow-through dollar buying today after its recovery in North America yesterday. The greenback is softer against most of the G10 currencies. The Antipodeans are lagging alongside the Norwegian krone, perhaps weighed down by the sharp drop in oil prices following President Trump's indication and a deal with Iran…
Asia and Europe Did Not Share North America's Enthusiasm for the Dollar Asia and Europe Did Not Share North America's Enthusiasm for the Dollar Reviewed by Marc Chandler on May 15, 2025 Rating: 5
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