Federal Reserve Chairman Powell’s long-anticipated speech at Jackson Hole provided fireworks but not quite what the market had expected. Confirmation of tapering was supposed to lift US rates and the dollar. Instead, the opposite took...
Neither the chaos and tragedy unfolding in Afghanistan nor the US refusal to acquiesce to the allies’ request to extend the August 31 deadline seems to have much impact on the global capital markets. Instead,...
The US dollar is stabilizing but the tone remains fragile. The euro, which has advanced for five consecutive sessions coming into today is slightly lower. The euro had stalled yesterday as it approached last year’s...
The US dollar has largely been confined to yesterday’s trading ranges against the major currencies amid light news. The North American session does not hold much hope for fresh impetus. The US reports October existing...
The US dollar had one of its worst weeks of the year, as its interest rate support eroded. Despite prospects for a further upward revision in Q2 US GDP above 3.0% and continued above trend...
The market has not changed its mind. Following Brainard’s comments yesterday the market had downgraded the chances, which were already modest, of a Fed hike next week. The September Fed funds futures is unchanged on...