Nothing rallies in a straight line, and the euro’s August surge is taking a well-earned breather. EUR/USD has pulled back from last week’s high of 1.1712 to close at 1.1589, a drop of over a cent in five sessions. GBP/USD retreated from 1.3638 to 1.3540, and USD/JPY actually rose for the first week since the […]
The S&P 500 refuses to correct. The index closed Friday at 7,686 — a fresh record close, up 2.6% from late July and comfortably above every prior peak this year. The June correction to 7,238 has been fully retraced, the leadership has broadened beyond the megacaps, and the market has now gone a full month […]
A quick weekly wrap before the weekend. The dollar’s post-July-shock recovery has stalled. Against the majors, the greenback is roughly flat on the week: EUR/USD at 1.1556, USD/JPY at 157.89, GBP/USD at 1.3491. But the internals are more interesting than the headline. The dollar actually gained against the commodity bloc — AUD, NZD, and the […]
August has arrived, and the market is doing what it usually does this month: nothing, loudly. EUR/USD is trading at 1.1556, up marginally from last week’s close of 1.1544. USD/JPY at 157.89 has spent four sessions bouncing between 156.8 and 159.0 without conviction. GBP/USD at 1.3491 is exactly where it ended July. Three pairs, three […]
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 […]