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Near-Term Dollar Technicals Mixed, but...

Marc Chandler January 31, 2021

The dollar rose against all the major currencies last week, except for the British pound and New Zealand dollar, which eked out minor gains. We have been suggesting two views. The first was a near-term pullback in the dollar, a correction to the November-December slide. The second was for the underlying downtrend to resume. The combination of t…

Near-Term Dollar Technicals Mixed, but... Reviewed by Marc Chandler on January 31, 2021 Rating: 5

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US Jobs, EMU CPI, and BOE/RBA meetings Highlight Week Ahead

Marc Chandler January 30, 2021
The high-frequency data cycle starts anew. The investment climate continues to be shaped by the virus that is depressing economic activity and fueling pressure for policy responses. In parts of Europe and the US, the pandemic surge from the holidays is breaking, and a third vaccine (Johnson and Johnson) appears to be a few weeks from being appro…

US Jobs, EMU CPI, and BOE/RBA meetings Highlight Week Ahead Reviewed by Marc Chandler on January 30, 2021 Rating: 5

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Please Stay Seated, the Ride is not Over

Marc Chandler January 29, 2021
Overview: Powerful corrective forces continue to grip the market. After a large rally to start the New Year, the correction is punishing. Most Asia Pacific equities markets were off again today to bring the week's loss to 2.5% to 5.5% throughout the region. Europe's Dow Jones Stoxx 600 is a little more than 1% lower on the day. The 2.4%…

Please Stay Seated, the Ride is not Over Reviewed by Marc Chandler on January 29, 2021 Rating: 5

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A Sea of Red Gives the Dollar a Bid

Marc Chandler January 28, 2021
Overview: The steepest loss in US equities since last October is rippling through the capital markets in the form of de-risking. The rout is not over, and the S&P 500 is poised to gap lower. Many of the largest markets in the Asia Pacific region were off around 2%. The nearly 1% loss in Europe's Dow Jones Stoxx 600 leaves the benchmark…

A Sea of Red Gives the Dollar a Bid Reviewed by Marc Chandler on January 28, 2021 Rating: 5

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The Fed and Earnings on Tap

Marc Chandler January 27, 2021
Overview: Risk appetites seem subdued even if GameStop's surge draws attention. Asia Pacific equities mostly slipped lower, and profit-taking was seen in Hong Kong and Seoul, which are off to an incredibly strong start to the year. Small gains were reported in Tokyo, Beijing, and Taipei. Europe's Dow Jones Stoxx 600 opened lower but q…

The Fed and Earnings on Tap Reviewed by Marc Chandler on January 27, 2021 Rating: 5

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Subdued Activity as New Incentives Awaited

Marc Chandler January 26, 2021
Overview: After rallying strongly to start the year, Asia Pacific equities, led by the high-flying Hang Seng, sold-off, led by Tencent. Most markets in the region were off at least 1%. Australia and India escaped the profit-taking due to holidays. Europe's Dow Jones Stoxx 600 is faring better and looks poised to snap a two-day fall, led by…

Subdued Activity as New Incentives Awaited Reviewed by Marc Chandler on January 26, 2021 Rating: 5

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A Subdued Start to a Big Week

Marc Chandler January 25, 2021
Overview: What promises to be an eventful week has begun off on a mostly subdued note. Asia Pacific equities moved higher, again led by Hong Kong and ostensibly mainland buying. The Hang Seng rose 2.4% to bring this year's gain to 10.75%. South Korea's Kospi also increased by more than 2%, and, so far this month, it is up almost 11.7%. M…

A Subdued Start to a Big Week Reviewed by Marc Chandler on January 25, 2021 Rating: 5

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State of Dollar's Upside Correction

Marc Chandler January 24, 2021
Our analysis had led us to expect a dollar bounce after sliding sharply since the US election. We had linked the technical recovery to our expectations of fundamental news and specifically the December jobs report. The ADP stole the thunder from the non-farm payroll report. When the dollar did not sell-off further on the back of the disappoint…

State of Dollar's Upside Correction Reviewed by Marc Chandler on January 24, 2021 Rating: 5

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The Restoration

Marc Chandler January 23, 2021
The focus in the week ahead is squarely on the United States. The ECB, the BOJ, the Bank of Canada, and Norway's Norges Bank met last week. No fresh initiatives were taken, but if there is a takeaway, it is that the vaccine appears to have made policymakers, like many of us, more confident about the medium-term outlook, even though more pain…

The Restoration Reviewed by Marc Chandler on January 23, 2021 Rating: 5