Markets

The dollar is weaker against most major and EM currencies with Greece still the major focus. The euro broke above 1.32 against the dollar in the European morning as it becomes evident that the Greek PSI deal will likely go through, as we…

Spanish 10-years yields continue to rise above those of Italy, and suggest that Spain may be the next country in the hot seat. Data released today confirms that the contraction in Spanish industrial production is still ongoing, with…

Uncertainty over the participation in the Greek bond swap is a major source of anxiety today. Rumors circulated earlier that the PSI "invitation" would be extended by a week due to low participation have been officially denied, but rumors…

The US dollar is broadly higher against most of the major and emerging market currencies amid concern that the Greek PSI will not see sufficient participation to avoid the triggering of the collective action clauses or worse. At the same…

The US dollar is posting modest gains against most of the major and emerging market currencies to start what is likely to be among the most important weeks here in the first quarter, with numerous central banks meeting, first tier economic…

Spain unemployment claims increased 112,269 in February, with total registered unemployed reaching 4.7 mln and the pace of claims picking up. This comes after a pretty ugly Q4 jobless rate of 22.9%, and points to further deterioration…

Never known for being easy, the euro and yen seem particularly difficult to understand presently. During such times it is often best to return to basics. Foreign exchange reflects the cost of money. So do interest rates. The relationship…

Revisions to the holdings of US Treasuries have set the chins wagging. The key focus is on China's holdings of Treasuries.

The US dollar is trading on the back foot against most EMs and the dollar bloc currencies but is firming against some European currencies after the release of the ECB’s second LTRO in which 800 banks took down €529.5B, slightly above…

The US dollar is broadly weaker ahead of tomorrow’s 3-year ECB tender (LTRO).