Global FX Insights
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Choppy Directionless Trade
We haven’t seen all that much movement in markets on this Wednesday. What we have seen has been mostly about consolidation after Tuesday’s moves.
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US Dollar Slide Extends Into August
The US Dollar is under pressure as the month of August gets going, with the Buck still unable to shake off fallout from last week’s Fed decision and US GDP miss. The Pound has benefited today from a better than expected UK manufacturing PMI reading.
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Another Welcome Wave Of Bad News
The Fed steered clear of a 100-basis point rate hike while communicating some messages that were perceived to be less hawkish leaning, this was then followed up with a discouraging negative GDP print, putting the economy into a technical recession.
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Currencies Run Hot Against Buck
This latest wave of risk on flow and US Dollar selling has continued in earnest into Tuesday. The Euro has rushed well back above parity and the Pound has recovered back through 1.2000.
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Recession Fears Ramp Up
The big story right now is monetary policy divergence, with central banks forced into some very difficult positions in 2022
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US Market Returns From Holiday Break
The week is about to get started for real as the US market returns from the long holiday weekend.
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Comments

Latest Comments
Week Kicks Off With Another Oil Dump
2 years ago

Yes....not a simple thing. Optimistic everything will work out and the right decisions will be made.

Services PMI Data Shrugged Off
2 years ago

Presumably....a little bit of both. Thank you for tuning in to the updates Kurt.

Still Plenty Of Unknowns Around The Virus
2 years ago

Indeed. Hopefully this will prove to be untrue. But it was most unsettling. Thanks for reaching out.

Still Plenty Of Unknowns Around The Virus
2 years ago

Yes. Was scary to read that. Hopefully it proves to be untrue. Thanks for reaching out.

Still Plenty Of Unknowns Around The Virus
2 years ago

Thank you for the share.

Still Plenty Of Unknowns Around The Virus
2 years ago

This was a story I saw. I can't substantiate it, but if you search, you should find. I just thought it was unsettling. Hopefully we'll get ahead of this thing real soon. Thanks for reaching out.

FOMC Decision Preview - Wednesday, January 29
2 years ago

Hi Bruce - It's not that we don't think the coronavirus is having a negative impact. It's more that we don't believe the negative impact will be to the extent that it demands a reaction from monetary policy. Hope that makes sense. Thank you for reaching out.

Still Waiting On The Fed Chair
3 years ago

Those won't be here, but if you are subscribed to this feed, you will be getting two calls a day, along with special reports (usually one per week around a major event) and some technical overviews of major FX markets (these are updated based on the need to do so..ie if markets are just consolidating, no change to the commentary, so no need for new technical updates). Thanks for taking the research in. Glad you're making use of it.

Still Waiting On The Fed Chair
3 years ago

Thank you. Please refer to our daily pdf report offering a little more in the way of country specific color. https://www.lmax.com/blog/global-fx-insights/

Powell Offers His Reassurances To Investors
3 years ago

We believe we're in a very dangerous place right now, where the Fed needs to be more worried about financial stability risk associated with a strategy that continues to direct investors into a stock market that has flown way to high on borrowed wings. A capitulation in stocks has been overdue and should be a healthy, yet painful step, in finally moving on from a crisis that started over a decade ago.

As far as the US administration goes, it's interesting. The US administration has been committed to a trade policy that should pressure the US Dollar lower, not higher. This strategy is therefore aligned with a loose form of monetary policy, which means the more the administration pushes to disrupt on the trade front, in an effort to rebalance the US economy, the more it pressures the Fed to do exactly what it wants - which is to continue to see a Fed that errs on the side of rate cuts and accommodation (ie equals soft Dollar).

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Setting Up For Shaky Start To 2022
News of the massive US trade deficit whacked the US Dollar on Wednesday, though we’re already seeing the Buck quickly find renewed demand into the dip.

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