Michael Shedlock's picture

Oil is priced in dollars. So what? Currencies are fungible. Even if one did need dollars to buy oil (they don't), the pound, Swiss francs, euros, and every other major currency on the planet can instantaneously be exchanged for any other currency at will.

FS Staff's picture

What is the general feeling and outlook among top market technicians right now? Robin Griffiths spoke with Financial Sense Newshour this past week as the International Federation of Technical Analysts met in London and said, “no one is expecting a crashing wipeout right now"

Jeffrey D Saut's picture

In this business it has been said, “Sometimes knowing the right question is more important than actually knowing the answer.” Over the years I have found that old Wall Street axiom to serve me well.

Sober Look's picture

Expectations of Bank of Japan accelerating securities purchases at the October meeting have fallen considerably. Majority of economists now expect any type of change in policy to take place no earlier than December/January, if ever.

Marc Chandler's picture

The U.S. dollar is trading heavier against most of the major and emerging market currencies. The euro and sterling remain within the ranges seen before the weekend while the dollar slipped to JPY107 in a Tokyo-less Asian session.

Keith Weiner's picture

I think it’s important to acknowledge that the economy is not stateless. A change in one variable—e.g. money supply—may have a different effect depending on the states of individual actors in the economy.

FS Staff's picture

Dominic Frisby says Satoshi Nakamoto was a goldbug and explains how bitcoin was designed to replicate gold mining. Sheraz Mian of Zacks Investment Research says third quarter earnings season will be very important this year and explains why.

Chris Puplava's picture

The damage done to the markets is far greater than what appears on the surface as major indices have only experienced mild pullbacks. However, looking at the average decline among thousands of stocks listed on U.S. exchanges and within large indices reveals a stealth bear market occurring.

Clif Droke's picture

Throughout most of 2014, economists were convinced that the threat of deflation had been successfully bypassed thanks to Fed intervention. Indeed, many celebrated economic forecasters have been loudly cheering the mostly solid-looking economic data throughout most of this year.

Charles Hugh Smith's picture

A stronger dollar encourage foreign capital to flow into the U.S., as it makes more sense to shift money into appreciating dollars (that are gaining purchasing power) than leave it in currencies that are depreciating (losing purchasing power compared to the dollar).