US & Greek Politicians Stand in the Way of Budget Resolutions
Markets spent last week sorting through the election wreckage. The yen was the top weekly performer but CFTC positioning data showed that speculators continue to believe its overvalued. 1 of 2 EURUSD...
View ArticleBOE Unchanged; Onto Final ECB Conference
Solid AUD labor market data; no change from BOE; German factory order soar; Swiss deflation intensifies. Market awaits ECB decision and press conference and Canadian PMI. Yen crosses from latest...
View ArticleItalian Chaos vs Stable Euro
Italian borrowing costs hit a 3-week high and are set to have their first rising month after 4 straight monthly declines on PM Montis resignation announcement; Greek buyback extended; Eurozone Sentix...
View ArticleMonti Plays Coy With Euro
The euro steadily recovered in US trading after some cryptic comments from Italian PM Monti. The kiwi rose for the sixth straight day and was the best performer while neighbouring AUD was the laggard....
View ArticleRisk Appetite Improves Ahead Of FOMC
Greek buyback above EUR 30 bln; UK jobless claims fell; EZ industrial production declined; Swiss ZEW improved; solid Italian auction. Key event is FOMC rate decision, the release of economic forecasts...
View ArticleEuro Pauses, EU Banking Union Sees the Light
Eurozone Fins Mins move on Banking Union, USD recovers partially; SNB keeps rate target 0-0.25% but lowers outlook; EU summit begins; UK CBI orders rose; Italian and Spanish auctions. Focus turns to...
View ArticleUSD Stabilizes Ahead of IP & Flattening Capacity Util
German manufacturing PMI disappointed but service sector expanded; Eurozone PMIs slightly better and CPI slows; Japan's LDP could form a government. Focus turns to CPI, Markit PMI, capacity utilization...
View ArticleEuro Consolidates; JPY Pairs Close Yesterday's Gap
Pressure on the BOJ to increase after LDP landslide victory; new easing from BOJ; Eurozone trade surplus declined. Market turns to Empire state manufacturing; TIC data and a number of speeches. The JPY...
View ArticleUK Inflation Steady; Current Account Deficit Next
Balanced RBA minutes; UK consumer inflation steady; Riksbank cuts; Spanish auction. The US session will bring US current account balance and later the same data from NZ. Watch the action in GOLD vs EUR...
View ArticleEUR Does 1.33 on IFO, US Home Sales Next
German Ifo rose; MPC 8-1 against QE; EURJPY hit 2012 high. Market turns to real estate data and later to NZ GDP. 16 new trades were added in last night’s Premium Insights. 1 of 2 Oil trades hit all...
View ArticleUK Manuf PMI Rose; ISM Next
Fiscal cliff measure approved but negotiations in February to be even more difficult; UK manufacturing PMI improved; German and Eurozone manufacturing PMI revised lower. Focus turns to ISM...
View ArticleAUD Likes China, EUR Likes Spain, Onto ECB
Aussie jumped on soaring Chinese exports ; MPC keeps rates and QE steady; strong auctions from Spain and Italy. Market awaits ECB rate decision and press conference; jobless claims and two FED...
View ArticleJPY Firms on Amari Comments; Onto PPI & Retail Sales
Aussie jumped on soaring Chinese exports ; MPC keeps rates and QE steady; strong auctions from Spain and Italy. Market awaits ECB rate decision and press conference; jobless claims and two FED...
View ArticleCurrency Wars & ECB's Shrinking Balance Sheet
Are the euro's gains just starting as the ECB balance sheet shrinks further from LTRO repayment? 278 European banks have repaid €137 bn in the first LTRO operation, which raised € 489 bn in December...
View ArticleYen Slumps Through Month-End, China PMI Next
January was an unmitigated success for Abe as his election pledge to beat deflation with a weak yen began to bear fruit. The yen was the laggard on Thursday and fell more than 5% on the month. The...
View ArticleIssuing 2 New Calls on USDCAD
On Jan 23 we issued a piece reiterating CAD bearishness at a time when several pundits favoured the loonie over its commodity counterpart down under. A few days later we brought back USDCAD to the...
View ArticleSterling Policy of Benign Neglect
The falling British pound has already made the cover page of two prominent UK newspapers and discussed in business and mainstream media, causing the market to wonder whether the decline is near the...
View ArticleRBA Stabilizes AUD, JPY Crosses & Commodities Insights Added
Relatively hawkish remarks from RBA governor Stevens on Friday morning (Aussie time) indicating the end of the slowdown in China, lifting the currency. Stevens also explained the Aussie remained robust...
View ArticleDow-30, FTSE-100 & Dax-30
Just as global equities were 2-3% away from regaining their 2007 record highs, it’s worth noting these facts: During the five months leading to its Oct 2007 record high, the Dow Jones Industrials...
View ArticleUSD Rallies alongside Stocks on Growth Story
Stronger than expected Manuf ISM and consumer sentiment figures from the US are further empowering the notion that the US growth exceeds that in Europe and Japan, boosting the US dollar across the...
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