Markets

Highlights US dollar was mostly softer vs. the majors, with EUR/USD trading above 1.20 briefly before falling back late in the day on US equity weakness.  Bounces remain hard to sustain, so once this period of consolidation ends, we…

Canada has had quite a run in its property market. But, the most recent data are a bit soft. David Rosenberg writes: After a string of above-expected economic data releases, Canadian housing starts missed the mark. Starts sunk 6.3% MoM,…

It has been all about euro weakness of late, with the market selling heavily and sometimes overreacting to any kind of bearish development (see last Friday’s exaggerated price action following a diplomatic gaffe by Hungary’s politicians).…

A news wire is reporting that Russia remains committed to diversifying its reserves and has not changed its view of the euro.  This is consistent with what several other central banks, including China, Japan and South Korea have…

Investors are still trying to get their heads around the SNB's preliminary indication that is reserves rose to CHF232 bln in May from CHF153 bln in April.  This represents more than a 50% increase in reserves in a single…

Highlights The US dollar eased in Asia as a modicum of an appetite for risk returned, but the greenback rebounded in the European session.   The euro returned to the $1.19 area after being unable to rise above the $1.20…

I know the S&P is now through both the 50-day and 200-day moving average but it did break out to the upside last time it broke down below the 50-day.    The 200-day breakdown is a bit more serious though, of course. You…

In a note to investors today, Win Thin of Brown Brothers Harriman noted that contagion has spread to core Europe with France now paying more for debt. France is coming under scrutiny, with one astute market contact noting that France…

This fairly well sums up my view: hen our policy makers insist on defending reckless lenders with public resources, we have to recognize that this is not free money. When the government issues a paper liability for real value, that real…

By Marc Chandler of Brown Brothers Harriman Highlights The US dollar has seen its initial gains scored in Asia pared, but the risk is that North American players resume the buying of the greenback.  The euro initially fell to about…