Category Archive: 4) FX Trends

Main Author Marc Chandler
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, October 07: The Day After

President Trump's tweet announced that negotiations with the House Democrat leadership had collapsed, and there will be no further talks until after the election. Many economists had been removing it from their Q4 GDP projections, but the market was caught wrongfooted. Risk came off.

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FX Daily, October 6: The Dollar Tests Key Supports and Pauses

Market moves have stalled.  The MSCI Asia Pacific Index did manage to extend Monday's gains, but other markets are heavier.  Europe's Dow Jones Stoxx 600 is snapping a three-day advance.  The communications sector is the sole standout, though financials and energy are little changed.

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FX Daily, October 05: Monday’s Dollar Blues

New actions to contain the virus are being taken in the US and Europe, but investors are looking past it and taking equities and risk assets, in general, higher to start the new week. MSCI Asia Pacific recouped most of last week's 0.7% loss with gains of move than 1% in Japan, Hong Kong, South Korea, and Australia.

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October Monthly

After falling in July and August, the US dollar strengthened against most of the major currencies in September.  The dramatic pullback in equities seemed to have undergirded the yen's resilience, which gained a net 0.25% against the dollar.

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FX Daily, October 2: POTUS Infected: Is this the October Surprise?

Before a US election, there is often speculation of a last-minute game-changing development. News earlier today that the US President and his wife have tested positive for the Covid virus has injected a new unknown into not only the US election but the markets as well.

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FX Daily, October 1: Hope Springs Eternal

Speculation that a new round of fiscal stimulus from the US is possible is encouraging risk-taking today.  Many large Asian centers were closed for holidays today, and a technical problem prevented the Tokyo Stock Exchange from opening.

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FX Daily, September 30: Nervous Calm

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.

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FX Daily, September 29: Consolidation Still Featured

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. 

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FX Daily, September 28: Stocks Recover while the Greenback Consolidates

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. 

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FX Daily, September 25: Sentiment Remains Fragile Ahead of the Weekend

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. 

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FX Daily, September 24: Darkest Before Dawn

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, and Korea) fell more than 2% and most others were off more than 1%.

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FX Daily, September 23: Trying to Find Solid Ground

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.

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FX Daily, September 21: Risk Appetites Join Tokyo on Vacation

Global equity markets are off to a poor start to the week, and the dollar appears to be enjoying a safe-haven bid. Tokyo markets are closed until Wednesday, while Asia-Pacific stocks tumbled, and the regional index is unwinding last week's gains. The Dow Jones Stoxx 600  is off around 2.7% near midday in Europe.

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FX Daily, September 18: When Every Thing is Said and Done, More is Said than Done

Asia Pacific equities have taken the march on the US.  Led by a 2% rally in Shanghai, most regional markets but Australia closed the week with gains.  A two-week fall in the MSCI Asia Pacific Index has been snapped.  European stocks are little changed, and the Dow Jones Stoxx 600 is holding on to its second week of gains.

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FX Daily, September 17: Powell Lets Steam Out of Equities and Spurs Dollar Short-Covering

Profit-taking after the FOMC meeting saw US equities and gold sell-off. The high degree of uncertainty without fresh stimulus did not win investors' confidence. The Fed signaled rates would likely not be hiked for the next three years, and without additional measures, that appears to be the essence of the switch to an average inflation target.

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FX Daily, September 16: Dollar Eases Ahead of the FOMC

Overview:  The dollar has been sold against nearly all the world's currencies ahead of what is expected to be a dovish Federal Reserve, even if no fresh action is taken. The Scandis and Antipodean currencies are leading the majors. 

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FX Daily, September 15: The Dollar Softens Ahead of the FOMC

The capital markets are relatively quiet so far today as the FOMC meeting gets underway. Equity markets in the Asia Pacific region, but Japan and Australia advanced, and the regional benchmark rose for the fourth consecutive session. European stocks are a little firmer. 

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FX Daily, September 14: UK Presses Ahead, China Strikes Out at German Pork Producers, and Moody’s Weighs on Turkey

A flurry of deals, including the still-evolving Oracle-TikTok tie-up, helped lift equity markets in the Asia Pacific region. South Korea's Kospi, and Indonesia, which had been battered last week, led the advance. The MSCI Asia Pacific Index rose for the third consecutive sessions. European bourses are little changed while US stocks are firmer.

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