The first week of the second half looks a lot like the last week of the first: the dollar consolidating its June gains while the market decides whether the trend has one more leg in it. EUR/USD is parked at 1.1404, having spent a week oscillating between 1.1387 and 1.1463. USD/JPY at 161.88 is pressing […]
We’re halfway through 2026, which makes this the traditional moment for an honest portfolio review. Not a prediction exercise — an allocation exercise. Here’s a framework. Start with what the first half taught The H1 scoreboard: US stocks up mid-single-digits, gold down sharply, bitcoin down 18%, and the dollar up nearly everywhere. If your portfolio […]
4,000. Gold spent last week circling the most watched round number in the commodity world, dipping to 3,963 before recovering to close at 4,082. The metal has now gone almost three weeks without making a new low — the longest stabilization since the April peak — and technicians are starting to whisper the word “base.” […]
The second quarter closed on Tuesday. Here’s the cross-asset scoreboard, because the story it tells is more coherent than any single market’s narrative. The numbers Stocks: the S&P 500 ended June at 7,499, up about 1% for a choppy quarter that featured a record high in May (7,599), a June correction to 7,238, and a […]
162.6. That’s where USD/JPY closed on Wednesday, and I had to double-check the screen because the last time we were here, the conversation was all about intervention. The pair has rallied almost without pause since mid-June, climbing from 159.6 to its highest level of 2026. The engine is the same one that’s driven every big […]