Yesterday’s 3% drop in the NASDAQ is setting the tone for today. The US stock market advance had been led by a narrow group of equities, and those have come under strong pressure amid slower...
Overview: As seems often to be the case a counter-trend move began in the foreign exchange market on Tuesday and continued into Asia today. In the current context, this meant a dollar pullback. Although move...
The US dollar is consolidating yesterday’s gains against most of the major currencies, though the dollar bloc is under performing. Bond yields are moving higher, and equities are lower. With a light data and events...
Overview: The US dollar is trading with a softer bias in tight ranges. The euro and sterling have been confined to yesterday’s ranges, while the greenback briefly traded above JPY113.00 for the first time in...
The US dollar is beginning the new week on a soft note, as China threatens not to accept the invitation for trade talks in Washington if the US imposes new tariffs on $200 bln of...
The US dollar is slumping against all the major currencies in the aftermath of the hawkish Federal Reserve. In fact, the inability of the greenback to hold on to the gains scored in the initial...
Investors, chasing better returns in US dollars, have forced the two countries’ currencies into free fall. The big question is whether the rout can threaten financial markets and the global economy medium-term. The words “taper...
The US dollar is narrowly mixed after selling off following the FOMC statement. Sometimes the narrative explains the price action, and sometimes the price action explains the narrative. This seems to be the case of...
A week ago, after nine Fed officials had spoken, the market widely expected Yellen and Fischer to confirm that the table was set for a rate hike later this month. They did, and the dollar...
On Tuesday, the dollar fell 1.25% against the basket of currencies in the Dollar Index. The index is down 3% since its peak at the end of 2016. US companies that report in dollars but...
In thin holiday markets, a correction to the trends seen in Q4 has materialized. The US dollar is heavy. Japanese and European equities are lower. Bonds are firmer. Some reports try to link the moves...
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...
