Monday dashboard — every major market on one screen, as October’s second week begins. FX The dollar is the story of the year and the month. EUR/USD at 1.1157 is at its weakest since early 2025, having broken 1.12 with authority last week. USD/JPY at 158.6 is the one pair resisting the dollar’s advance, still […]
September arrives with every major market extended, every central bank on deck, and a calendar loaded enough to move all of them. Here are the five things that matter most. 1. The Fed meeting The single biggest event. The market wants clarity on the first rate cut; the Fed wants optionality. The gap between those […]
Every cross-asset investor felt the yen shock this week, even those who’ve never traded USD/JPY. Here’s the damage report — and the lesson inside it. The scoreboard Stocks: the S&P 500 spent the week wobbling around 7,490, down modestly from July’s highs but well above the June correction low of 7,238. The equity market’s reaction […]
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 […]
Here’s a market oddity worth unpacking: this week, both gold (bouncing around 4,381) and the euro (at 1.146) fell against the dollar simultaneously — but gold’s bounce off the lows came while the dollar was still firm. Occasionally, everything falls together. What’s going on? The liquidation explanation When leveraged macro funds unwind crowded trades — […]