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Markets
Dollar Ends the Year on a Whimper, UK House Prices Better Than Expected
from the BBH Currency Strategy Team The US dollar is softer on the last trading day of the year with position squaring likely the main driver. With the economic calendar light, the euro traded in narrow ranges throughout most of the…
Soft Dollar Tone As China’s PMI Slows First Time In Five Months
from the BBH Currency Strategy Team The US dollar extended its Wednesday's losses after softer bond yields prevailed following yesterday's successful auction and light volume weighed on the dollar's tone. The euro traded on a supportive…
Dollar Trades on Back Foot
from the BBH Currency Strategy Team The US dollar is softer today after yesterday's disappointing economic data releases stoked a drop in US bond yields. The euro remains choppy with conditions exacerbated by thin trading and gains capped…
Housing Humbug
This marks the 4th month in a row of falling home prices, and the first negative year-over-year reading since January of 2010. Freddie Mac released their monthly volume summary for November which contained information on seriously…
Dollar Tone Remains Soft
from the BBH Currency Strategy Team The US dollar is softer today versus the majors and EM. The euro maintained a supportive tone following the move up to the $1.3270 region. Momentum was lacking due to thin trading liquidity and an…
Some Thoughts on Market Timing
We are now seeing almost all our sell signals go off and we recommend clients hedge portfolios and reduce market exposure. We have advised clients in the past to hedge their portfolios and reduce exposure when all our sell signals have gone…
Euro Stabilizes, But Remains Vulnerable Ahead of Raft of US Data
from the BBH Currency Strategy Team The dollar is mixed today vs. the majors and is softer vs. EM. The euro has stabilized, but continues to feel heavy as EUR/CHF holds marginally above the record low around 1.2440 from…
Brazil Inflation Report Signals Rate Hike In January
by Win Thin Brazil central bank’s quarterly inflation report was quite hawkish, and caught the market off-guard after the decidedly more dovish minutes from the December 7/8 COPOM meeting were reported last week. In those minutes, the…
Some Thoughts On Possible China Purchases Of Portugal Bonds
by Win Thin We think it’s worth commenting on Portuguese press report today that China has pledged to buy up to EUR4-5 bln ($5.2-6.5 bln) of Portugal sovereign debt. Purchases would be either in the primary or secondary markets and would…
EUR/CHF Continues To Make Historic Lows On Euro Zone Tensions
from the BBH Currency Strategy Team The euro is slightly firmer today vs. the dollar today, but continues to make new historic lows vs. Swiss franc just below 1.25, suggesting that euro zone tensions remain strong. EM currencies continue…