Overview: The US dollar is firm against most major and emerging market currencies. There is more optimism on US-Chinese trade as a series of understandings are drafted, and an extension past March 1 of the tariff freeze is reportedly in the works. Mixed economic data and a call from a local bank for two rate cuts …
Aussie Slammed by Dalian Coal Embargo, While Firmer Flash PMI does Euro Little Good Read More »
While we expect that the broad economic and monetary divergence will allow the dollar’s uptrend to resume, more immediately we have been expecting the recent ranges to remain intact. The ranges may have frayed, but the pre-weekend price action may reinforce them. With a slow start to the week ahead (US holiday and light economic …
The US dollar rose against all the major currencies last week. It also appreciated against most of the emerging market currencies, save two from Latam (Mexico and Peru) and two from Asia (Philippines and Malaysia). The US January jobs report on February 1, coupled with disappointing European data and a less hawkish Reserve Bank of …
Overview: The US dollar is paring yesterday’s gains against most of the major and emerging market currencies. Sterling pushed above $1.31, an 11-week high on news that the DUP would support Prime Minister’s Plan B that calls for limits on the backstop with Ireland, something that the EC and Ireland have indicated are not on …
Euro Pares Yesterday’s Losses and Sterling Pulls Back after topping $1.31 Read More »
Overview: The major currencies are mixed in quiet turnover. Most of the European currencies are firmer, while the dollar-bloc currencies, yen and Swiss franc are softer. Emerging market currencies are steady to higher, though there are a few exceptions in Asia, where the Indonesian rupiah and the Chinese yuan are off about 0.3%, while the …
There is a brief respite in the powerful short squeeze that has fueled the dollar’s dramatic recovery. The greenback which was nearly friendless a month ago now has many suitors. It is higher on the year against all the major currencies but the yen (~2.6%), the Norwegian krone (~1.6%) and sterling ~0.9%). It is virtually …
Confident Fed Key to New Found Respect for the Dollar Read More »
The US dollar is narrowly mixed in uneventful turnover. Of note, the dollar selling seen in Asia last week slacken today and the greenback moved above the pre-weekend highs seen in the US. It is the first time in eight sessions, the dollar has risen above the previous day’s high against the yen. Europe seems …
The Yellen Fed ended on a high note. She took over the reins the of Federal Reserve an implemented a strategic normalization process monetary policy, and helped engineer not only the first post-crisis rate hikes but also the beginning of unwinding its balance sheet. Most reckon she has done an admirable job at the Federal …
Fed’s Hawkish Hold Keeps Dollar Consolidation Intact Read More »
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 high set in September near $1.2090. Yesterday was also the third consecutive close above the upper Bollinger Band, which is …
Dollar Firms Ahead of What is Expected to Be Strong US Jobs Data – Marc to Market Edit The US dollar is firm but is not going anywhere quickly. The lack of fresh interest rate support and uncertainty over the US tax proposals, which the Brady, the Chair of the House Ways and Means Committee …
Dollar Firms Ahead of What is Expected to Be Strong US Jobs Data Read More »