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.
Gold in Q3: USD -4.5%, EUR -2.4%, GBP +1.5%, CHF +2.4%, CAD +4.6%. Global stocks fall 5% to 13% - Stocks face worst quarter since 2011 over fears for global economy
News That Matters
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.
That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s energy industry and economy, but also North American energy relations.
A review of the technical condition of the dollar in the days leading up to the FOMC meeting announcement.
For anyone who (still) believes that Canada has a diversified economy...
Keys in the week ahead: equity markets--still look lower; China--volatility likely to continue; Fed--market says no Sept hike
Every day, the world consumes 93 million barrels of oil, which is worth $4.2 billion. Oil is one of the world’s most basic necessities. At least for now, all modern countries rely on oil and its derivatives as the backbone of their economies. However, the price of oil can have significant swings. These changes in price can have profound implications depending on whether an economy is a net importer or net exporter of crude.
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.
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.
News That Matters
Steep losses in the dollar, stocks and commodities, for sure, but does it really signal a systemic crisis?