currencies

The Swedish government cuts its growth forecasts for this year and increased its spending to boost the economy, ahead of the Sept parliament elections.  The krona is gaining against the euro, but this is more a reflection on the euro's…

Brazil reported much better than expected Feb retail sales and this is encouraging expectations of a 75 bp rate hike later this month and allowing the real to extend its winning streak for the fifth consecutive session.  The real has…

Highlights The US dollar is consolidating yesterday’s decline and has largely been confined to narrow trading ranges.   With the Greek bill auction behind it, the market may lack a clear focus, but sentiment towards the euro…

Highlights The US dollar is broadly mixed today.  Details of the funding facility for Greece have spurred strong gains in the euro, lifting European currencies in general.  However, the greenback is holding its own against the…

Highlights The US dollar has been softening since yesterday in the European morning.  There has been follow through in euro buying today after the year’s low was successfully tested yesterday.   However, despite…

Highlights The US dollar is again being broadly supported by heightened concern that Greece’s debt/deficit issues are soon to reach a climax.  The pressure on Greece is clearly spilling over to the other Mediterranean…

Michael Pettis is out with another great piece on the likelihood that non-performing loans (NPLs) will rise in China when the present spate of malinvestment comes a-cropper.  What caught my eye were his statements about the hidden ways…

Highlights The US dollar is enjoying broad gains today as the Greece’s fiscal woes have returned with vengeance.  Market News International reports, that have been given some idea of what an IMF program could entail, are now looking…

Highlights The US dollar is mixed to start the week, though market conditions remain thin due to the holiday.  The constructive employment report before the weekend has kept the greenback bid against the euro and Swiss franc. …

Asia: Asian equities rallied on improving global growth prospects, with the MSCI Asia-Pacific Index advancing for its 6th consecutive session.  The 0.3% rise puts the index at its highest level since mid-Jan.  Of note, the…