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King Dollar Consolidates

September 30, 2021
Overview: Interest rates, ostensibly the fuel behind the dollar's surge, pulled back a little in the US yesterday.  However, the greenback's rally continued, lifting it to new highs for the year against sterling, the euro, and yen.  Some of the buying may have been related to quarter-end, and it has come back a bit softer against most of t…
King Dollar Consolidates King Dollar Consolidates Reviewed by Marc Chandler on September 30, 2021 Rating: 5
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Hard to Be Sterling

September 29, 2021
Overview: Energy prices pulled back late yesterday, but it offered little reprieve to the bond market where the 10-year benchmark yields in the US, UK, Sweden, and Switzerland reached new three-month highs.  November WTI traded to almost $76.70 before reversing lower and leaving a potentially bearish shooting star candlestick in its wake.  The US …
Hard to Be Sterling Hard to Be Sterling Reviewed by Marc Chandler on September 29, 2021 Rating: 5
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Soaring Energy Prices Lift Yields, Weigh on Equities and the Greenback Pops

September 28, 2021
Overview: Rising energy prices and yields are helping lift the US dollar and weighing on equities.  November WTI has pushed above $76, while Brent traded above $80, and natural gas is up for the fourth consecutive session, during which time it has risen by about 25%.   The US 10-year yield has surged to almost 1.53%, up more than 20 bp since the m…
Soaring Energy Prices Lift Yields, Weigh on Equities and the Greenback Pops Soaring Energy Prices Lift Yields, Weigh on Equities and the Greenback Pops Reviewed by Marc Chandler on September 28, 2021 Rating: 5
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Quiet but Nervous Start to the New Week

September 27, 2021
Overview: The dollar has begun the new week on a firm note, rising against most major and emerging market currencies. Sterling and the Canadian dollar are the most resilient, while the euro has been sold back below $1.1700, and the greenback is nearing JPY111.00. The US 10-year yield is up another four basis points to 1.49%. European yields are al…
Quiet but Nervous Start to the New Week Quiet but Nervous Start to the New Week Reviewed by Marc Chandler on September 27, 2021 Rating: 5
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FX Price Action in the Context of Global Macro Developments

September 26, 2021
The dollar was lifted at the start of the last week by safe-haven demand as China's Evergrande multi-month collapse triggered a sort of panic attack by global markets.  The dollar strengthened after the initial drop following the FOMC meeting.  The Fed's confirmed tapering announcement is likely at the next meeting (Nov), but this has been…
FX Price Action in the Context of Global Macro Developments FX Price Action in the Context of Global Macro Developments Reviewed by Marc Chandler on September 26, 2021 Rating: 5
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What's Next?

September 25, 2021
As Q3 winds down and Q4 begins, the broad investment climate is being shaped by the turning of the monetary cycle.  Norway was the first, and New Zealand will be next.  It is not so much that these moves will force others to do the same. Instead, the Norges Bank and the RBNZ are simply ahead of the others.  Although there is speculation that the B…
What's Next? What's Next? Reviewed by Marc Chandler on September 25, 2021 Rating: 5
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US Bonds Stabilize and the Dollar Finds Better Footing

September 24, 2021
Overview: The 13 bp jump in the US 10-year note and 30-year failed to derail the rebounding equities or lend the dollar support.  The surge in US equity indices closed the gap created by the panic attack and Monday's sharply lower opening.  However, the relation trade did not carry into today's activity.  Most equity markets in the Asia Pa…
US Bonds Stabilize and the Dollar Finds Better Footing US Bonds Stabilize and the Dollar Finds Better Footing Reviewed by Marc Chandler on September 24, 2021 Rating: 5
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Taper, No Tantrum

September 23, 2021
Overview:  The market's reaction to the FOMC statement was going according to our script, with the dollar backing off on a buy rumor sell the fact type of activity until Powell provided an end date for the tapering (mid-2022) before providing a start date (maybe next month).  This spurred a dollar rally.  Equities pulled back but recovered.  T…
Taper, No Tantrum Taper, No Tantrum Reviewed by Marc Chandler on September 23, 2021 Rating: 5
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