From the category archives:
That was interesting. CNBC just carried a report from Steve Liesman , the gist of which was (in my humble opinion) “Go ahead … sell the dollar!” Specifically, Liesman said that unnamed policy officials told him the U.S. government view is that the dollar decline is no big deal. The decline is orderly, it just [...]
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What a morning for the U.S. dollar … a bad one, that is. It’s getting hammered against all the major currencies, with the Australian dollar leading the way, thanks to a semi-surprise rate hike by the Reserve Bank of Australia. Unlike our “all easy money, all the time” Federal Reserve, the RBA is joining minor [...]
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The latest Fed meeting just wrapped up. And just as I expected, policymakers decided to keep the liquor flowing and the music playing as loud as possible!
Specifically, the Fed kept its interest rate target unchanged at 0% to 0.25%. It also signaled that it planned to maintain “exceptionally low levels of the federal funds rate [...]
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Watching the market action this morning, I can’t help but think the Federal Reserve is in a total Catch 22 situation. It can signal a plan to increase its purchases of Treasuries and mortgages to hold rates down. Indeed, speculation about just such a move has driven long bond futures up almost two points in [...]
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Forget the stress test. The big story in the markets today is the plunging dollar. The Dollar Index is getting crushed, down 1.27 points to 82.66 at last count. For you technically inclined readers, it’s also plunging through its 200-day moving average.
What’s going on? The positive read is that this move signals a return to [...]
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It’s hard to characterize just how nasty the action in the currency market is here. The Dollar Index got clubbed to the tune of 2.69% yesterday in the wake of the Fed’s monetization move. That is one of the biggest declines ever (the move against the euro was the worst since 2000). DXY is down [...]
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