Monex

USDFor most of Tuesday, the dollar did what we expected, holding its ground as traders weighed mixed Middle East signals against the midterms. A strong JOLTS report, with September job openings rising...

USDHopes of a diplomatic breakthrough in the Middle East set the tone on Monday. Iranian negotiators left Doha without a deal, but with a draft proposal to reopen the Strait of Hormuz circulating and...

USDFriday delivered another AI-driven equity rout, though the dollar staged a comeback through the afternoon, managing to make it out of the day little changed. Still, the Nasdaq fell sharply after...

USDThe dollar ended Thursday softer despite data that should have supported it. Q3 GDP rose at a 3.4% annualised pace against a 3.2% consensus, September PCE printed 0.5% MoM and 3.6% YoY with core...

USDThe dollar softened modestly on Wednesday after the Fed delivered a hold at 3.75-4.00% that we and markets had expected, with the DXY slipping 0.2% to just above 102. On paper, the outcome was...

USDThe dollar extended its pre-FOMC advance yesterday, with the DXY rising 0.4% to around 102.4, consistent with our view that the greenback would hold its gains into today’s decision. The...

USDThe dollar firmed on Monday, with the DXY closing just above 102 ahead of tomorrow’s FOMC decision. The move came despite a modest retreat in oil, though Brazil added an EM risk-off impulse,...

USDThe dollar clawed back some ground on Friday, with the DXY closing 0.2% higher around 101.8 after flash PMIs painted a hot picture of the US economy, seeing manufacturing at 56.0, its highest in...

USDThe dollar again failed to attract much of a haven bid on Thursday despite a sharp deterioration in risk appetite. Fresh doubts over AI financing, triggered by Meta’s capex guidance, dragged...

USDThe dollar drifted on Wednesday, as we had anticipated given the empty US data calendar. The tone has turned decisively more defensive overnight though, as a selloff in Asian equities helps drive...

USDThe dollar slipped back on Tuesday with the DXY closing 0.2% lower just below 101.8 as Treasury yields eased, the 10-year dipping back towards 5.1%, and oil retreated from five-month highs on...

USDThe dollar’s first weekly loss since early September did not extend into Monday. Having dipped in early European trade, the DXY closed around 102.0, up roughly 0.2pp as the AI-led equity...

USDThe dollar ended last week on the back foot, with the DXY closing just below 101.8, down around half a percent for its first weekly loss since early September. As we flagged, Chair Warsh’s...

USDThe dollar’s post-CPI rally unwound further on Thursday, with the DXY slipping lower to trade either side of 102.0, even as September PPI blew past expectations. Headline producer prices rose...

USDA post-CPI dollar surge proved short-lived yesterday. Granted, September inflation was hotter than expected, with core up 0.3% MoM for a second month, taking annual core price growth to 2.6% YoY,...

USDThe dollar’s winning streak paused on Tuesday, with the DXY falling 0.4%, helped by comments from New York Fed President Williams, who noted that one more hike “may be appropriate this...