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....
We have put emphasis on today’s US retail sales report. A recovery from the weather-induced weakness in January should underscore the resilience of US demand after another 200k jobs were created and personal income jumped...
The US dollar is narrowly mixed against the G10 currencies. The Canadian and Australian dollars lead the advancers, while the Scandis are pacing the losers off 0.1%-0.2% in quiet turnover. Most the freely accessible emerging...
The focus is on the US CPI report today, but the price action is anything but intuitive. Although the revisions of the basket and methodological changes reinforce expectations for the largest rise in three months,...
Verbal intervention proved sufficient to keep the US dollar below JPY145, but the greenback gained broadly. It rose to new two-year highs against the dollar-bloc and Chinese yuan ahead of the weekend and to levels against...
The market is a fickle mistress. The major central banks were judged to be behind the inflation curve. Much teeth-gashing, finger-pointing. Federal Reserve Chair Powell was blamed for denying that a 75 bp hike was under...
The sentiment that fueled the recovery in US equities before the weekend carried over into today. Several Asia Pacific centers, including China, Taiwan, and South Korea were closed today, but Japan, Hong Kong, and India...
After a slow and mixed start in Asia, where Australia and India are on holiday, equity markets have turned higher. Europe’s Stoxx 600 is up around 1.9% near midday in Europe, which if sustained would...
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...
Profit-taking on long dollar positions was seen ahead of the weekend. The yield on the December 2022 Eurodollar futures slipped to finish unchanged on the week that saw CPI and PPI reports. The preliminary University of...
The biggest rally in US equities in four months has helped stabilize global shares today. In the Asia Pacific region, Japan, China, and Australian markets advanced. Led by information technology and consumer discretionary sectors, Europe’s...
The greenback had a tough week. It fell against most currencies. Our GDP-weighted currency index snapped a three-week drop, which ended an eight-week advance. The combination of a seemingly more hawkish Federal Reserve and position...
