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Nervous Calm

September 30, 2020
Overview: Quarter and month-end considerations could be overwhelming other factors today.  Turnaround Tuesday saw early gains in US equities fade.  Asia Pacific shares were mixed, with the Nikkei (-1.5%) and Australia (-2.3%) bear the brunt of the selling, while China, Hong Kong, Taiwan, and India rose.  Europe's Dow Jones Stoxx 600 is lower f…
Nervous Calm Nervous Calm Reviewed by Marc Chandler on September 30, 2020 Rating: 5
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Consolidation Still Featured

September 29, 2020
Overview:   A consolidative tone continues across the capital markets.  Equities have lost their momentum.  The MSCI Asia Pacific Index was mixed, while Europe's Dow Jones Stoxx 600 is paring yesterday's sharp 2.2% gain.  US shares are little changed but mostly softer.  Benchmark 10-year yields are 1-2 basis points lower in Europe, and the…
Consolidation Still Featured Consolidation Still Featured Reviewed by Marc Chandler on September 29, 2020 Rating: 5
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Stocks Recover while the Greenback Consolidates

September 28, 2020
Overview: Following the strong finish in the US before the weekend, global equities are paring last week's slide.  The MSCI Asia Pacific Index rose to for a second session. Markets in  Japan, Taiwan, South Korea, and India rose by more than 1%.  China and Australia were notable exceptions.  Europe's Dow Jones Stoxx 600 is gapped slightly h…
Stocks Recover while the Greenback Consolidates Stocks Recover while the Greenback Consolidates Reviewed by Marc Chandler on September 28, 2020 Rating: 5
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Dollar Correction may be One More Leg Away from Completion

September 27, 2020
The US dollar had one of its best weeks in months.  It rose against nearly all the world's currencies. Many participants see scope for additional gains ahead of the quarter-end, which is ostensibly to require dollar-buying as corporates and asset-managers adjust hedges and re-balance.  
After several months of dollar weakness, we see its recent…
Dollar Correction may be One More Leg Away from Completion Dollar Correction may be One More Leg Away from Completion Reviewed by Marc Chandler on September 27, 2020 Rating: 5
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Macro as September Winds Down

September 26, 2020
The dollar began September extending its losses, but reversed higher and is winding down the month at its best levels against the euro and sterling in a couple of months. The Canadian and Australian dollars have approached last month's lows, and even the strong demand for the Mexican peso and Chinese yuan appeared to have dried up.   The quart…
Macro as September Winds Down Macro as September Winds Down Reviewed by Marc Chandler on September 26, 2020 Rating: 5
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Sentiment Remains Fragile Ahead of the Weekend

September 25, 2020
Overview: The dramatic week is finishing on a quieter note.  The modest gains in US equities yesterday helped the Asia Pacific performance today.  Most markets but China and Hong Kong pared the weekly losses, and easing regulations in Australia spurred a rally in financials that saw its stock market close higher on the week.  However, the coattail…
Sentiment Remains Fragile Ahead of the Weekend Sentiment Remains Fragile Ahead of the Weekend Reviewed by Marc Chandler on September 25, 2020 Rating: 5
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Darkest Before Dawn

September 24, 2020
Overview:  The two recent market developments, push lower in stocks, and higher in the dollar is continuing. Tuesday's gains in the S&P 500 and NASDAQ were unwound on Wednesday and this is helping drag global markets lower.  The MSCI Asia Pacific Index fell for the fourth consecutive session today and many markets (India, Shenzhen, Taiwan,…
Darkest Before Dawn Darkest Before Dawn Reviewed by Marc Chandler on September 24, 2020 Rating: 5
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Trying to Find Solid Ground

September 23, 2020
Overview: A more stable tone is evident in the capital markets after the S&P 500, and NASDAQ rose more than one percent yesterday.  Japan returned from a two-day holiday, and local shares slipped fractionally, while China, Hong Kong, South Korea, and Australian shares rallied.  India and Taiwan fell.  The Dow Jones Stoxx 600 is up around 1.5% …
Trying to Find Solid Ground Trying to Find Solid Ground Reviewed by Marc Chandler on September 23, 2020 Rating: 5
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Turn Around Tuesday?

September 22, 2020
Overview:  The S&P 500 tumbled for its fourth consecutive, the longest losing streak since February.  The dollar strengthened broadly.  Part of this may be the safe-haven bid the dollar often seems to have, reflecting the unwinding of financial structures when risk assets sell-off hard.  Part of it appeared to be foreign investors liquidating …
Turn Around Tuesday? Turn Around Tuesday? Reviewed by Marc Chandler on September 22, 2020 Rating: 5
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