Family Dollar Looting Post Hurricane Florence Highlights Elephant in the Room

After Hurricane Florence swept through Wilmington, North Carolina, a Family Dollar in the city was looted for trivial items like soda pop. Some would immediately point to the fact that Wilmington was surrounded by water and essentially became an island with limited resources. While this…

Dollar Surges As 10Y Treasury Hits 3.00%

After a sharp drop in the dollar in the overnight session, which had set the greenback for its worst week since February, the BBG dollar index has surged, and was trading near session highs following today’s mixed economic data. Some have attributed the rebound to…

Dollar Suffers Biggest Weekly Drop Since February, Pushing Global Markets Higher

The dollar headed for its worst weekly loss since February following slowing inflation data out of the US and amid bets that other major central banks will start to normalize monetary policies, helping global stocks extend their lead as the MSCI All-Country World Index gained…

WTI Spikes On Surprise Crude Draw As Gasoline Demand Hits Record High

WTI rallied overnight, in the face of dollar gains, as Iran supply fears reignited, dominating API inventory builds across the board, and spiked notably after DOE reported a bigger-than-expected 2.566mm crude draw. But bear in mind that seasonal refinery maintenance is about to start, which…

Turkish Lira Tumbles As Central Bank Intervention Fails

The Turkey’s lira tumbled as much as 3% against the dollar, making it the worst performing currency in the world, and extending its slump to a third day after the central bank announced it double banks’ borrowing limit for overnight transactions at the interbank money…

Dollar Slides Ahead Of Powell Speech, Stocks Rise After China Market Intervention

In a generally quiet session ahead of today’s main event, the dollar dropped on Friday, set for its biggest weekly decline since March as traders prepared for a keynote speech by Fed chair Jerome Powell in Wyoming looking for hints on the direction of monetary…

Dollar Tumbles On Trump’s Fed Attack, Sending Global Stocks Higher

The dollar slumped for the fourth consecutive day on Tuesday and US Treasuries dropped, after President Trump criticized higher interest rates and the Fed’s rate hike policy, while slamming China and EU for currency manipulation. The DXY index dropped 0.35%, down 1.2% in the last…

Selling Returns As Turkish Lira Suddenly Tumbles, China Stocks Slide To New 2 Year Low

A sense of “risk off” has returned to the the market, with 10Y yields sliding, the dollar rebounding from session lows and the Turkish Lira resuming its plunge, renewing concerns about emerging market contagion, leading to a “red return” across global market monitors, following yesterday’s…

Dollar Dumps – Erases Week’s Gains As Yuan, Lira, Ruble Rally

While the dollar remains close to cycle highs, it has given up all the week’s gains today after China trade headlines overnight and Turkish FinMin confidence-inspiring conference call confirms to investors that the world is ‘fixed’ again… Dow futures are back to last Thursday’s closing…

Turkish Gold Futures Volume Explodes As Silver Slammed To Lowest Since April 2009

Update: While it seems American (dollar) investors see no value in the barbarous relic, Bloomberg reports that Gold futures volumes have surged on the Borsa Istanbul as the volatile currency attracts speculation and after the lira’s plunge boosted the local price of metal. The 90-day…