The yen’s June reprieve lasted exactly two weeks. USD/JPY closed Monday at 162.51, up from 161.88 last week, with the pair touching 162.58 — the highest since the April spike. The sellers who showed up at the end of June have been absorbed, and the carry community has taken that as its cue to reload. […]
It’s been ten days since bitcoin last traded above $63,000, and the crypto market has settled into that uncomfortable limbo between “bottoming process” and “distribution before the next leg down.” The token trades near $62,800 this morning, up modestly from the July 1 low of $57,748 but still 24% below the May peak. Volume has […]
EUR/USD closed the week at 1.1404, and the valuation crowd is getting loud. On purchasing-power parity, the euro is historically cheap. On fair-value models, it’s 8–10% undervalued. So is 1.14 a generational buying opportunity? Maybe. But let’s be honest about what valuation does and doesn’t do. Valuation is a compass, not a clock Undervalued currencies […]
The S&P 500 opens the second half parked at 7,490 — up 0.1% for July, up modestly for the quarter, and completely directionless for a month. The next catalyst arrives next week, when the big banks kick off earnings season. What’s expected Consensus calls for mid-to-high single-digit year-over-year earnings growth — solid, but a deceleration […]
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 […]