Marc To Market's blog
Correction continues, but it is only a correction.
Gains in the foreign currencies appears to be mostly short-covering rather than bottom-picking per se. In bigger picture the dollar is consolidating its earlier gains.
The reaction function of officials takes on added importance in the week ahead.
The poor jobs report weighed on the dollar, but the greenback recovered as the session progressed. It is not clear the jobs report was a game changer. Stay tuned.
The divergence theme is likely to strengthen in the week ahead.
Yellen's reaffirmation of a likely rate before year-end helped lift the dollar. Look for some consolidation ahead of the US jobs data.
Non-bombasitc overview of the investment climate. No, the sky is not falling. This is not the end of days.
The divergence meme that is the center of the dollar bull narrative was never predicated on precise timing of Fed's lift-off. To go from no hike in September to Fed will never raise interest rates, or QE4 is next, is a needless exaggeration.
A review of the technical condition of the dollar in the days leading up to the FOMC meeting announcement.
Keys in the week ahead: equity markets--still look lower; China--volatility likely to continue; Fed--market says no Sept hike
Divegence driver of the dollar was never predicated on a particular time frame for the Fed's lift-off. Others are easing. Trajectory is the key. Here is my sense of the near-term dollar outlook, wiht a look at some other asset markets as well.
The stability of global capital markets, the ECB meeting and US employment data are highlights. Risk seems to be greater than discounted that Sept rate hike is still a distinct possibility.
Dollar recovered from the exaggerated panic at the start of last week. Outlook is still constructive. Here is an overview of the technical condition of currencies, bonds, oil , and S&P 500.
A non-bombastic discussion of market forces and what to expect next
Steep losses in the dollar, stocks and commodities, for sure, but does it really signal a systemic crisis?