currencies

Highlights The US dollar appears weaker across the board as New York traders return from the holiday weekend, but this is mostly a function of its modest bounce yesterday.   The greenback is near levels seen just before the…

Highlights US dollar was mostly firmer vs. the majors as the risk off trading environment carried over from last week, albeit in thin holiday trading.  Yen and Swiss franc were largely firmer, while EM FX was mixed.  Biggest…

Highlights US dollar was mostly firmer vs. the majors in the aftermath of weak US jobs data, but lost ground to EUR and GBP.  While we still think the US outshines the euro zone from a fundamental standpoint, the break of 1.25 last…

As we begin the second half of what has already been a challenging year, it may be helpful to consider the potential drivers of the global capital markets.    As always, numerous factors have to be juggled.  Now however,…

When China first announced on 19 June that it was going to reintroduce flexibility into its exchange rate mechanism, we advised caution; warning that it may take some time for China's intentions to be clarified.  The market's…

It seems so if you read the latest from the Financial Times (hat tip Marshall Auerback): Iceland's banking sector is facing a fresh wave of losses after a court ruling raised doubts over the legality of billions of dollars of loans.…

"I have this to say to my fellow Germans in East Germany: The introduction of the social market economy offers you every chance, in fact, even a guarantee, that (the East German states of) Mecklenburg-Western Pomerania,…

The unemployment rate fell to 9.5% from 9.7%, but this likely reflects people dropping out of the labor market.  The work week fell 0.1%, which is the equivalent of about 300k job loss.  The private sector 83k jobs and the May…

Highlights The US dollar is mixed ahead of the monthly jobs data.   It is generally consolidating yesterday’s losses against the European currencies and Japanese yen, while slipping against the dollar-bloc.  The increased…

US data have been disappointing.  The weekly initial jobless claim increase has been followed by a weaker than expected ISM manufacturing report.  The ISM fell to 56.2 from 59.7. The consensus had anticipated a smaller decline to…