currencies

Canada reported incredibly strong jobs data before the weekend.  Canada grew 93.2k jobs, more than 4 times more than than market expected.  It grew almost 50k full time jobs.  These are impressive numbers and renews…

Highlights The US dollar is generally firmer against most of the major and emerging market currencies to start the new week.  It has staged a reversal of sorts before the weekend and there has been follow through today.  The euro…

The euro has been sold off in early North American activity.  It does not appear to be news/event driven, but rather some week end profit-taking that triggered some stops.   We do note that many were looking had targeted the…

Highlights The US dollar consolidating this week’s losses against most of the major currencies; trading with a firmer bias within yesterday’s trading ranges.  The general forces weighing on greenback remain intact.  The negative…

Highlights The US dollar continues to trade with a heavier bias against the major and emerging market currencies.  The yen and Swiss franc’s softer tone appears to be largely a function of the return of risk appetites, though Japan…

Listen to Paul Krugman in the first video with Bloomberg and then listen to Dennis Gartman in the second. The two seem to be arguing the same point – that the G-8 austerity position of higher taxes and lower government spending is the wrong…

Highlights The US dollar is sporting a firmer profile against most of the major currencies but is largely confined to yesterday’s ranges.  The yen is a main exception and been bid higher across the board as risk appetites wane. …

The Baltic Dry Index has fallen for the 28th consecutive session today.  It is the longest decline in six years.  During this swoon the index has fallen 49%.  The main driver seems to be concerns about the cooling of China's…

There are several noteworthy developments from China.   The first, while still a bit sketchy, seems the most promising.  President Hu seemed to signal an acceleration of infrastructure construction in the western part of…

A number of sources are reporting that the Chinese have been loading up on JGBs despite their relatively low yields. Is this a flight to quality by the Chinese central bank? Andy Lees of UBS shows that the magnitude of the purchases…