Tag Archive: Currency Movement

New Push Against the Federal Reserve Sends the Dollar, and US Bonds and Stocks Lower, and Helps Lift Gold and Silver to Record Highs

2026-01-12

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2026-01-12

The US dollar initially opened firmer, while Japan is on holiday. But news that the Justice Department served grand jury subpoenas to the Federal Reserve on Friday, over the renovations of the Fed’s headquarters roiled the markets. Fed Chair Powell issued a terse statement rejected the charges and said they were a “pretext” for dissatisfaction …

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US and Canada Jobs Day and More

2026-01-09

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2026-01-09

The US dollar enjoys a firmer today ahead of what promises to be a memorable North American session that features the US December employment report and the Supreme Court’s judgement on the legality of the widespread tariffs implemented under the president’s emergency powers. The larger than expected rise in household spending in Japan and German …

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USD Continues to Consolidate: Tomorrow’s Employment Data and Supreme Court Decision Awaited

2026-01-08

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2026-01-08

The US dollar is mixed against the G10 currencies. Yet the broad consolidative tone remains intact.  It may be challenged tomorrow with the US employment report and the anticipated Supreme Court decision on the president’s use of emergency powers to levy tariffs. Meanwhile, President Trump announced more domestic initiatives including curbs on defense contractors' CEO …

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Dollar Consolidates as American Exceptionalism Returns

2026-01-07

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2026-01-07

Drivers: The US dollar is trading narrowly mixed against the G10 currencies. The market has an eye toward the US employment data, which often roils trading, due Friday. Indications suggest that the US Supreme Court may rule on the legality of the broad US tariffs imposed under emergency power legislation. Most seem to expect the …

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Euro and Sterling Stall

2026-01-06

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2026-01-06

Drivers: A consolidative tone appears to be emerging. The US dollar is mixed, with the dollar-bloc and Norwegian krone firm and the other others nursing small losses.  The US jobs data is at the end of the week, and the market continues to digest geopolitical developments. China announced export controls on Japan for any good …

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Markets Show Little Reaction to Venezuela Events

2026-01-05

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2026-01-05

The US capture of Venezuelan leader Maduro and his wife is the key talking point today. The immediate market fallout has been minimal. Oil prices are little changed. The dollar is mostly firmer against the major currencies and most emerging market currencies. The PBOC set the dollar’s reference rate at a new low since October …

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Dollar Remains on the Defensive after the FOMC

2025-12-11

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2025-12-11

(Last daily of the year.  Weekly will be posted on Saturday, December 13. January monthly will drop on January 3.)Overview: The dollar was sold in response to yesterday's FOMC decision. There has been limited follow-through selling in Asia and Europe today. The greenback is mixed as North American participants return. The Swiss franc is the …

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Fed Day with 10-year Yield at a Three-Month High

2025-12-10

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2025-12-10

Overview: The outcome of the FOMC meeting is the main focus today. With the market discounting at least two cuts next year compared with the median projection in September that one cut would be appropriate, it is difficult not to anticipate a hawkish cut. The greenback has rallied after both the September and October rate … Continue reading...

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Hawkish Hold by the RBA; Will the Fed Deliver a Hawkish Cut Tomorrow?

2025-12-09

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2025-12-09

Overview: The US dollar is sporting a slightly softer profile against the G10 currencies today. The exception is the yen, which is trading at a seven-day low against the greenback. The Scandis and Australian dollar are doing best. The Reserve Bank of Australia delivered a hawkish hold. Governor Bullock's comments encouraged the market to bring …

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Dollar Consolidates Ahead of Central Bank Meetings

2025-12-08

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2025-12-08

Overview: The US dollar is mostly consolidating in quiet turnover against the G10 currencies to start the new week, which is widely expected to see the Federal Reserve cut interest rates for the third time. The Reserve Bank of Australia meets tomorrow and there is speculation that it may signal its next move is a …

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German Factory Orders Surprise to the Upside, Japan Household Spending Surprise to the Downside, while the Greenback Consolidates

2025-12-05

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2025-12-05

Overview: The US dollar is a little softer today but mostly consolidating yesterday's moves against the G10 currencies. The Australian dollar leads the way and reached its best level since September 18. The market, though, has shrugged off surprising data:  a surge in German factory orders and a disappointing drop in household spending in Japan. …

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Dollar’s Downside Momentum Stalls

2025-12-04

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2025-12-04

Overview: The US dollar is stabilizing most of the G10 currencies today after its recent losses. As the North American markets are set to open, the greenback is posting minor gains against the G10 currencies but the Japanese yen and Australian dollar. The news stream is light. The market has lifted the odds of a … Continue...

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After Pausing Yesterday, the Greenback’s Slide is Extending Today

2025-12-03

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2025-12-03

Overview: The US dollar is under pressure today. Stronger European final PMI readings and a pullback in US yields have seen the greenback sold through last month's lows against several G10 currencies. And even where the data disappointed, like Australia's Q3 GDP or Switzerland's CPI, the currencies are bid. Led by central European currencies, most …

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Is the Dollar’s Consolidation a Prelude to an Upside Correction?

2025-12-02

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2025-12-02

Overview: The dollar has traded heavily in recent days, and it is consolidating in narrow ranges with a slightly firmer bias today. US rates, which jumped yesterday, are sustaining higher levels through the Asia Pacific session and the European morning. We suspect the greenback has scope for additional near-term corrective gains. Despite a solid 10-year …

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Dollar Losses Extended, while Stocks and Bonds Retreat

2025-12-01

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2025-12-01

Overview: The US dollar is trading with a heavier bias today. Equities and bonds have also been sold on the first day of the new month. The dollar bloc and the sterling are laggards today, while the yen has been squeezed higher amid heightened speculation that the Bank of Japan will lift rates later this … Continue reading »

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USD Bounces into the End of the Week

2025-11-28

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2025-11-28

Overview: The US dollar is trading firmer against nearly all the G10 currencies. The yen is the best performer, and it is virtually flat despite the swing toward BOJ hike next month. Expectations have steadied for a Fed cut next month around 80%. The November inflation reports from the largest eurozone members failed to inspire … Continue...

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Reeve’s Budget and US Beige Book Still to Come after Market Swings toward a Fed Cut and PBOC validates Stronger Yuan

2025-11-26

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2025-11-26

Overview: The US dollar is mostly lower today. The pendulum has shifted hard in favor of a rate cut next month and this has taken the wind from the dollar's sails. The New Zealand dollar is leading today's move after the central bank cut rates for perhaps the last time in the cycle. The Australian …

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Trump Speaks with Xi and Takaichi but Chinese-Japanese Tensions Remain High

2025-11-25

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2025-11-25

Overview:   The US dollar is mostly narrowly mixed against the G10 currencies. The Japanese yen is the notable exception. It leads the major currencies with around a 0.35% gain as the dollar slips to a four-day low near JPY156 after peaking last week slightly shy of JPY158. The dollar-bloc currencies join the Swiss franc and …

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Dollar Consolidates to Start the New Week

2025-11-24

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2025-11-24

Overview: The reassessment of the outlook for next month's FOMC meeting, spurred by comments before the weekend by the NY Fed president has been sustained today but the impact on the dollar is not so clear. The greenback is mixed, with the European currencies, for the most part, doing better than the dollar bloc and … Continue...

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Risk-Off Friday

2025-11-21

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2025-11-21

Overview: The sharp fall in global equities after the stunning reversal in the US yesterday is the main development today. The largest markets in the Asia Pacific region fell more than 2% today. Europe's Stoxx 600 is off more than 1%. It is selling off for the sixth session in the past seven. After posting … Continue reading »

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