Poor Chinese And Japanese Data Are Not Deterring Euphoria

Nov. 15, 2022 7:40 AM ETFXA, FXC, CYB, EROTF, ULE, EUO, FXE, FXY, JYNFF, YCL, YCS, FXB, GBBEF, UUP, USDU, UDN, JEMTF, CEW, PGDDF
Marc Chandler profile picture
Marc Chandler
15.4K Followers

Summary

  • The dollar is sliding anew today, sharply lower (~-1%) against half of the G10 currencies and weaker against most emerging market currencies.
  • US equity futures are extending yesterday’s gains.
  • Europe’s STOXX 600 is struggling to extend its rally into a fourth session.
  • Australian equities bucked the regional trend that saw the large Asia-Pacific bourses rally, led by Hong Kong’s 4.1% gain.

Financial stock exchange market display screen board on the street

Nikada

Overview

Recent developments have spurred a euphoria that is exciting the animal spirits. Greater confidence that US inflation has peaked, new initiatives from China, and yesterday’s Biden-Xi meeting are all feeding this narrative. The dollar, which slumped last week, is sliding anew today. Strategically we

This article was written by

Marc Chandler profile picture
15.4K Followers
Marc Chandler has been covering the global capital markets in one fashion or another for 25 years, working at economic consulting firms and global investment banks. A prolific writer and speaker he appears regularly on CNBC and has spoken for the Foreign Policy Association. In addition to being quoted in the financial press daily, Chandler has been published in the Financial Times, Foreign Affairs, and the Washington Post. In 2009 Chandler was named a Business Visionary by Forbes. Marc's commentary can be found at his blog (www.marctomarket.com) and twitter www.twitter.com/marcmakingsense

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