currencies

After the $1 trillion EU/ECB/IMF bailout it became clear to me that this theme of competitive currency devaluations is likely to gather steam. The Euro is now dropping. I see a weak Euro as a big political problem both within Germany and…

Highlights The US dollar has surrendered earlier gains that pushed the euro lows not seen in nearly a year, just above $1.3200, before reports spurred speculation that Greece will seek to activate the backstop facility.  The euro…

Highlights The US dollar is narrowly mixed today.  The euro is heavier following news that Greece and Ireland’s budget deficits were even larger than expected by the EU’s calculations and this is seen as much more important that the…

The Bank of Canada's statement yesterday, where it dropped it conditional promise about keeping rates steady and raised this year's growth outlook triggered new Canadian dollar buying.  We too have been bullish the Canadian dollar.…

Highlights        The US dollar is mostly higher today, but the drivers are elsewhere.  Greek talks with the EU/ECB/IMF are beginning, but they look to continue for a couple of weeks.  It seems…

Highlights        The US dollar has surrendered yesterday’s gains against most of the major foreign currencies, after the upside momentum stalled in North America yesterday.  The recovery of US…

Falling commodity prices amid general position adjustment in the foreign exchange market is weighing on the Canadian dollar today. The Loonie is trading at its lowest level since late March.  The near-term risk seems to extend toward…

China is self-evidently both a minefield and a potential graveyard for would-be global economists, the sort of place where reputations are made and lost in the twinkle of a dragon’s eye, so I think had better tread rather carefully here.…

Well, if you read this report from Euractiv, citing unnamed EU Commission officials, it is: “If nothing extraordinary happens, the Commission will give its positive opinion for the accession of Estonia to the euro zone on 12 May,” an EU…

Highlights The US dollar remains firm against the euro as Greek woes continue to weigh on sentiment.  The euro has practically returned to levels seen prior to last weekend’s financial aid package details.  That area,…