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Earlier this week we noted the disconnect between the currency and stock market, with currencies selling off, all while stocks continued to march higher. We warned this could be a red flag for stocks and we’ve since seen this play out, after stocks came under pressure in a big way on Thursday. read report
The US Dollar has continued to extend its recovery, all while US equities continue to push record highs. There is a bit of a disconnect here that could be warning of trouble ahead for stocks, with US Dollar demand often reflective of flight to safety. read report
US equities keep charging to fresh record highs, getting plenty of fuel from recent Fed assurances and more optimism around the timing of a coronavirus vaccine. And yet, this most recent run up hasn’t been accompanied by a concurrent wave of broad based US Dollar declines. read report
September kicks off with the global reflation trade in full bloom, with everything racing higher against the Buck. The Fed’s new policy framework has led to an extension of the record run in US equities, and concurrent selloff in the US Dollar to fresh yearly lows, or just off yearly lows against most currencies. read report
Stocks have been on fire, with US equities extending their run of record gains, continuing to benefit from easy money Fed communications, while currencies have also extended their recent runs against the Buck on the lower for longer Fed policy outlook and ongoing soft Dollar policy efforts out of the US administration. read report
