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Quarter-End Adjustments Blunt Trend Moves

March 31, 2021
Overview:  The US dollar is paring its recent gains against most major and emerging market currencies today, mainly on the back of month and quarter-end position adjustments.  The euro held the $1.1700 level, while the Japanese yen continues to trade heavily.  Better than expected PMI readings from China appeared to help sentiment.  The JP Morgan …
Quarter-End Adjustments Blunt Trend Moves Quarter-End Adjustments Blunt Trend Moves Reviewed by Marc Chandler on March 31, 2021 Rating: 5
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US Yields Push Higher, Lifting the Greenback Especially Against the Euro and Yen US Yields Push Higher, Lifting the Greenback Especially Against the Euro and Yen Reviewed by Marc Chandler on March 30, 2021 Rating: 5
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Markets Look for Direction after Large Block Trade and Before Key Data

March 29, 2021
Overview:  The large block trade (~$20 bln) before the weekend, apparently from a family office, continued to have ripple effects today, but the MSCI Asia Pacific Index barely noticed.  It extended its pre-weekend rally of 1.3%, and only South Korea and Australia fell among the major markets.  Europe's Dow Jones Stoxx 600 edged to new highs si…
Markets Look for Direction after Large Block Trade and Before Key Data Markets Look for Direction after Large Block Trade and Before Key Data Reviewed by Marc Chandler on March 29, 2021 Rating: 5
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Euro and Dollar Index Targets Met, Now What?

March 28, 2021
The dollar set new highs for the year against the euro, yen, Swiss franc, the Swedish krona, Australian and New Zealand dollars, and Chinese yuan last week.  There was some consolidation ahead of the weekend, but the divergence meme remains intact.  Two developments next week may underscore it:  Biden's initial proposals for the large (~$3 tri…
Euro and Dollar Index Targets Met, Now What? Euro and Dollar Index Targets Met, Now What? Reviewed by Marc Chandler on March 28, 2021 Rating: 5
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What to Look at Next Week

March 27, 2021
The US dollar extended its recent gains even as the yield on the 10-year Treasury pulled back by more than 15 basis points.  The euro, the 7-Up to the dollar's cola, fell to its lowest level since last November and the greenback rose to new highs for the year against most of the major currencies, save sterling and the Canadian dollar.  While r…
What to Look at Next Week What to Look at Next Week Reviewed by Marc Chandler on March 27, 2021 Rating: 5
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Markets Stabilize Ahead of the Weekend and the Dollar Pares Gains

March 26, 2021
Overview:  Market sentiment appears to be stabilizing ahead of the weekend.  The MSCI Asia Pacific Index halted a five-day slide, with all the large bourses, but Australia advancing more than 1%.  Europe's sawtooth pattern of alternating gains and losses remains intact for the eighth session. Yesterday was a down day, so today is higher.  US e…
Markets Stabilize Ahead of the Weekend and the Dollar Pares Gains Markets Stabilize Ahead of the Weekend and the Dollar Pares Gains Reviewed by Marc Chandler on March 26, 2021 Rating: 5
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US Dollar Firms Against the Euro and Yen, While the Dollar Bloc Finds Support US Dollar Firms Against the Euro and Yen, While the Dollar Bloc Finds Support Reviewed by Marc Chandler on March 25, 2021 Rating: 5
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Dollar Gains Initially Extended, but Now Awaits US Leadership

March 24, 2021
Overview: The preliminary PMI readings for March have been mostly stronger than expected, but setbacks with the virus, including new lockdowns in Germany, France, and Italy and rising cases in many US states, have hit sentiment.  Hong Kong has suspended the BioNTech vaccine.  A ship run around in the Suez Canal simply exacerbates supply bottleneck…
Dollar Gains Initially Extended, but Now Awaits US Leadership Dollar Gains Initially Extended, but Now Awaits US Leadership Reviewed by Marc Chandler on March 24, 2021 Rating: 5
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Oil Slide Helps Lift Bonds while the Dollar Recovers

March 23, 2021
Overview:  The relative calm in the capital markets, outside of the dramatic reaction to the dismissal of Turkey's central bank governor over the weekend, has given way today to greater anxiety.  Nearly all the major bourses are lower.  In the Asia Pacific region, India and New Zealand are exceptions.  Europe's Dow Jones Stoxx 600 has surr…
Oil Slide Helps Lift Bonds while the Dollar Recovers Oil Slide Helps Lift Bonds while the Dollar Recovers Reviewed by Marc Chandler on March 23, 2021 Rating: 5
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