currencies

The 32.7% decline in new homes sales to a new cyclical low has actually sparked a bout of dollar and yen buying on risk aversion. The revisions to the March and April time series also point to a much weaker picture than we had.  …

Gray Newman of Morgan Stanley is the third analyst this week who has been making Mexico-bullish noises due to the Chinese peg move.  In his recent research piece called "Latin America: The Renminbi Impact" he says we have…

Australian PM Rudd is coming under stronger domestic pressure as the opposition to the resource tax gains momentum.  There have been press reports of a leadership challenge and a local report claims that a key bloc in the Rudd's Labor…

Highlights The US dollar is little changed against most of the major foreign currencies, but sterling continues to respond favorably to yesterday’s budget.  News that for the first time since Aug 08 a BOE member (Sentence) called…

Echoing the Marc Chandler's comments yesterday, Andy Lees of UBS had some constructive things to say about the potential effect of a Chinese revaluation on Mexico. Mexican Finance Minister welcomes the move because it will help Mexico’s…

Gary Shilling talked with Bloomberg about the implications of China's recent currency move and the European debt crisis. True to form, he is bearish – both on the Chinese move and on the European debt situation. His view is that the Yuan…

Last year Russia previously indicated it was thinking about adding Australian and Canadian dollars to its reserves.  More recently it said it was preparing to do just that.  At the end of last week, the ECB's Noyer opined that…

Highlights The US dollar remains firm after yesterday’s recovery.  New concerns about the funding needs of European banks have been sufficient to offset the stronger than expected German IFO survey.  Euro support is seen in…

Joe Weisenthal, the title of this post is for you! Story of the Day: China's currency move China to Put Renminbi in a Currency Basket - Daily Reckoning Yuan appreciation not guaranteed - National Post Also See Marc Chandler's…

The European debt crisis has thus far unfolded as a sovereign debt crisis.  And the sovereign here is the national government.  This is particularly true in Greece. However in the coming months, it may become clearer that local…