The Bloomberg dollar index has surged, rising as much as 0.8% higher against all G-10 peers, its biggest advance since Jan. 26, and is on track for its first weekly gain since early July.
The move has been largely attributed to the "stronger-than-expected employment and wage gains", although as several banks commented shortly after the payrolls report came out, "everything is in place for a classic short-squeeze."
Authored by Charles Hugh Smith via OfTwoMinds blog,
The dramatic declines in the costs of oil production will be boosting supply at the very moment that demand is falling.
Whoever is rigging the market is getting increasingly desperate.
The daily VIX slams are getting more and more ridiculous. It’s getting to the point that the VIX is getting slammed 5%-6% every single day at 9:50AM just to pin the S&P 500 (they’re not even trying to get a gain anymore).
Here’s the VIX.
Here’s the S&P 500’s last nine closes. The index is LITERALLY not being allowed to move. It’s now gyrating a point or two per day.
Venezuela's currency, the bolivar, is disintegrating at an incredible pace under the country's political and economic crisis that has left citizens broke, desperate and in many cases, homicidal. The depreciation accelerated this week, after a disputed vote electing an all-powerful "Constituent Assembly" filled with allies of President Nicolas Maduro, which the opposition and dozens of countries have called illegitimate.
Just two days ago, on August 2, we reported that one dollar would buy 14,100 bolivars, up from 11,280 the day before.
Authored by Nouriel Roubini, originally posted at Project Syndicate,
Now that US President Donald Trump has been in office for six months, we can more confidently assess the prospects for the US economy and economic policymaking under his administration. And, like Trump’s presidency more generally, paradoxes abound.