From Marc to Market:
Overview: The dollar continues to ride high. It is up 0.20%-0.50% today against the G10 currencies. Most pairs have extended last week's moves. The Dollar Index, which was near 100 in late September is approaching 106.00. Emerging market currencies are all weaker, as well. The dollar is being helped by higher US yields. After yesterday's holiday, the US 10-year yield is up five basis points to near 4.36%. The two-year yield also is five basis points higher to almost 4.31%.
Stocks are under pressure. China, Hong Kong, Taiwan, South Korea, and India saw their main index fall by more than 1% today. Europe's Stoxx 600 is giving back most of yesterday's 1.15% gain, while US index futures are off around 0.20%-035%. Gold has lost its luster since the record at the end of October near $2790. It fell through the 50-day moving average yesterday (~$2646). Today, $2600 has yielded. The next area of support may be around $2540. After dropping 2.75% before the weekend and another 3.3% yesterday, December WTI is trading quieter today in a $65.75-$68.60 range. It peaked last week a little below $73.....
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