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This week we look at the US dollar from several different angles and conclude a massive expansionary regime is coming, plus more. 1. The US trade-weighted dollar index is in a 2-year sideways compression regime. Despite the greatly exaggerated reports of its death as a reserve currency, it continues to stairstep higher in a larger 17-year uptrend. chart ...
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Fed and ECB postpone rate cuts. Lower core inflation momentum or higher unemployment rate required for Sep rate cuts. Spreads widen on the back of French snap general elections. Two themes are driving markets: 1. Central banks postponing rate cuts due to higher-than-expected core inflation momentum and wage growth. 2. Spread widening on the back of ...
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