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Category Archive: 4) FX Trends

Main Author Marc Chandler

He has been covering the global capital markets in one fashion or another for more than 30 years, working at economic consulting firms and global investment banks. After 14 years as the global head of currency strategy for Brown Brothers Harriman, Chandler joined Bannockburn Global Forex, as a managing partner and chief markets strategist as of October 1, 2018.

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FX Daily, April 12: Capital Markets Look for Direction

2021-04-12

by Marc Chandler

2021-04-12

Overview: Risk appetites have not returned from the weekend. Equities are heavy, and bond yields softer. The dollar is drifting lower in Europe. China's unusually candid admission of the shortcomings of its vaccine and record new cases in India saw all the equity markets in the region fall. Only South Korea and Taiwan escaped the carnage that saw the Indian market tumble 3.5%.

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FX Daily, April 8: Calm Capital Markets See the Dollar Drift

2021-04-08

by Marc Chandler

2021-04-08

Overview: Global stocks are moving higher today. Fears of a new lockdown in Tokyo amid rising covid cases weighed on Japanese stocks, a notable exception as the MSCI Asia Pacific Index rose for its fifth session of the past six. Europe's Dow Jones Stoxx 600 is edging to new record highs today and is advancing for its fifth session of the past seven.

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FX Daily, April 5: Market Pushes First Rate Hike into 2022

2021-04-05

by Marc Chandler

2021-04-05

Overview: Many financial centers in Asia and Europe remain closed for the extended holiday. Although several markets that were open were higher in the Asia Pacific region, India was an exception as a record contagion sent stocks down the most in five weeks. US futures are pointing higher, led by the Dow, while the NASDAQ lags.

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FX Daily, March 30: US Yields Push Higher, Lifting the Greenback Especially Against the Euro and Yen

2021-03-30

by Marc Chandler

2021-03-30

The US 10-year yield is at new highs since January 2020, pressing above 1.77% and helping pull up global yields today. European benchmarks yields are up 4-5 bp, and the Antipodean yields jump 8-9 bp. The impact on equities has been minor, and the talk is still about the unwinding of Archegos Capital.

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FX Daily, March 29: Markets Look for Direction after Large Block Trade and Before Key Data

2021-03-29

by Marc Chandler

2021-03-29

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.

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FX Daily, March 18: Dovish Fed but Yields Rise, Helping the Greenback Recover from Yesterday’s Slide

2021-03-18

by Marc Chandler

2021-03-18

Overview: Asia Pacific equities mostly advanced after the US benchmarks recovered following the dovish FOMC. Australia, New Zealand, and India did not participate in today's gains. European bourses edged higher, but US shares are struggling, and the NASDAQ futures are off nearly 1%, threatening to end the three-day rally.

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FX Daily, March 16: Equities Firm, but Markets Tread Gingerly

2021-03-16

by Marc Chandler

2021-03-16

Overview: Yesterday's new record highs in the S&P 500 and Dow Jones Industrial helped set the tone for today's advance in the Asia Pacific region and Europe. The MSCI Asia Pacific Index snapped a two-day decline, with other major markets rising today.

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FX Daily, March 15: Big Week Begins Quietly

2021-03-15

by Marc Chandler

2021-03-15

The capital markets are beginning a new and busy week in a non-committal fashion. Equities are mixed. Except for Japan, Hong Kong, and Australia, most markets in the Asia Pacific region were lower, led Chinese and Indian shares.

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FX Daily, March 11: Risk Extends Gains Ahead of the ECB

2021-03-11

by Marc Chandler

2021-03-11

Overview: Even though the NASDAQ closed lower yesterday and the reception of the 10-year Treasury auction did not excite, market participants are growing more confident. Led by China, the major markets in the Asia Pacific region rallied. The Shanghai Composite's 2.35% gain not only snaps a five-session slide but is the largest rally since last October.

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FX Daily, March 10: Markets are not Yet Convinced that Yesterday’s Move Signaled a Trend Change

2021-03-10

by Marc Chandler

2021-03-10

Fear that yesterday's reversals represent little more than one-day wonders is contributing to the overall consolidative tone today. Most equity markets in the Asia Pacific region and Europe edged higher. China's stocks tumbled yesterday, despite reports of official assistance, were mixed with the Shanghai Composite posting small gain and Shenzhen a small loss.

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FX Daily, March 9: Turn Around Tuesday Strikes

2021-03-09

by Marc Chandler

2021-03-09

It is not clear the trigger, but risk-taking appetites rebounded smartly today after the NASDAQ completed a more than 10% pullback from its highs yesterday. Ironically, the Dow Jones Industrials set new record highs yesterday too. Most equity markets in the Asia Pacific region rallied. The notable exceptions were South Korea and China.

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The Crouching Tiger Trade

2021-03-09

There are five things to look for when there’s nothing to see. There’s an inclination to scan markets and look for volatility. Oftentimes, it’s better to look for an edge in a market that isn’t moving. The crouching tiger will soon roar. The hidden dragon will breathe fire. LET'S CONNECT! Facebook ► http://facebook.com/forexlive Twitter ► https://twitter.com/ForexLive Homepage ► http://www.forexlive.com/

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FX Daily, March 8: Greenback Trades Higher in Asia before Momentum Stalls in Europe

2021-03-08

by Marc Chandler

2021-03-08

Overview: The attack on Saudi Arabia's largest crude terminal reverberated through the capital markets, where sentiment was already fragile, despite the lack of disruption. Brent rose to nearly $71.40, and April WTI to almost $68 extended their gains for the fourth consecutive session before being fully unwound.

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FX Daily, March 4: OPEC+ and Powell are Awaited

2021-03-04

by Marc Chandler

2021-03-04

Overview: Equities are under pressure following yesterday's sharp losses in the US. The MSCI Asia Pacific Index suffered its biggest decline of the week today as Japanese, Chinese, and Hong Kong benchmarks slid by more than 2%. The Dow Jones Stoxx 600 Index in Europe is buckling under the pressure and is posting its first decline of the week.

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FX Daily, March 2: The Dollar Finds Better Footing

2021-03-02

by Marc Chandler

2021-03-02

Overview: A warning from China's top banking regulator about the frothiness of foreign markets appeared to blunt the knock-on effect of yesterday's largest rise in the S&P 500 since last June (~2.4%) and weighed on global equities. The large markets in the Asia Pacific region but India and South Korea fell.

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FX Daily, March 1: Animal Spirits Roar Like a Lion to Start the New Month

2021-03-01

by Marc Chandler

2021-03-01

Overview: Equities and bonds jump back. Most Asia Pacific markets advanced 1.5-2.5% after the regional MSCI benchmark dropped 3.65% before the weekend and 5.3% last week. The recovery in European stocks was even more impressive.

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FX Daily, February 26: Fed Hike Ideas Give the Beleaguered Greenback Support

2021-02-26

by Marc Chandler

2021-02-26

A poor seven-year note auction and ideas that the first Fed hike can come as early as the end of next year spurred a steep sell-off in bonds and equities. Technical factors like the triggering of stops losses, large selling in the futures market, which some also link to hedging of mortgage exposure (convexity hedging), also play a role.

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