A Tale of Two Speeches

Dollar continues to firm amid choppy market conditions; US futures point to modest decline. President Obama announces bigger package than expected; fiscal stimulus may be USD supportive. China’s CPI report shows that inflation has likely…

ECB: A Shift from Hawkish to Neutral?

BoE holds steady, with markets awaiting the ECB press conference; European stocks firmer. Important speeches from Bernanke and Obama; Bernanke likely to signal potential measures. Brazil swaps and futures market pricing in significant rate…

The Euro Clears One Political Hurdle

Markets continued to be dominated by the EZ sovereign debt crisis and the uncertainty surrounding key political events this month, which are likely to shape the market response in the months ahead. Of the key political events that take…

SNB Pledges New Managed Float to the Euro

Morning dominated by SNB’s decision to target EUR/CHF at 1.20; European stocks marginally higher. German August orders slumped -2.8%, first drop since March; US service-sector ISM key report today. In the EM space, China's economic growth…

After Jackson Hole Markets Refocus on Jobs

Friday’s shift in sentiment spills over into Asian and European sessions; dollar broadly weaker. This week’s attention shifts back to US and EZ data; Japanese select sixth PM (Noda) in five years. Chinese shares were laggard in EM rally…

Nothing New from Bernanke

The much anticipated Bernanke speech in Jackson Hole is under-whelming. He did not break any new ground. While much of the recent history is re-hashed, the only forward looking guidance is to reaffirm the recent FOMC statement and…

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