US Dollar Comes Back Bid north Overview: After yesterday's pullback, the US dollar has rebounded. It is trading its best level against several of the G10 currencies since Fed Chair Powell spoke at Jackson Hole before the weekend. Most emerging market currencies are weaker, too, with the notable exception of the pegged Hong [...]
Market Sees Challenge to Fed's Independence by Trump's Attempt to Fire Cook north Overview: The dollar's impressive recovery from the pre-weekend sell-off spurred by comments from Federal Reserve Chair Powell at Jackson Hole was challenged earlier today on news that President Trump was carrying out his threat to fire Federal Reserve Governor Cook. Cook will reportedly [...]
Markets Consolidate after the Big Moves Before the Weekend north Overview: The US markets responded dramatically to Federal Reserve Chair Powell's speech at Jackson Hole before the weekend. In today's late August session devoid of much news, the markets are consolidating. The dollar is in narrow ranges, and there may be some more corrective upticks in North [...]
Week Ahead: Fundamentals and Technicals Give Greenlight to Sell Dollars north The market was caught leaning the wrong way. Anticipation that Federal Reserve Governor Powell was going to push against speculation of a September rate cut had underpinned the US dollar and short-term rates. The S&P 500 had sold off for five consecutive sessions, the longest losing streak of [...]
The Greenback is Firm Ahead of Powell's Jackson Hole Speech north Overview: The dollar stalled after mostly extending this week's gains against the G10 currencies on the back of firmer US rates. The key event ahead of the weekend is Fed Chair Powell's speech in Jackson Hole (10 am ET). The greenback appreciated against all the G10 currencies this week, with [...]