currencies

That's what the Economist's Big Mac Index tell us. According to this index, the Swiss Franc and the Norwegian Krone are both more than 60 percent overvalued compared to the US dollar. Much further down are Sweden with over 40% overvaluation…

In the wake of today's extraordinary credit ratings action for the euro zone by Standard and Poor's, below are the rating agency's sovereign credit ratings.

The euro extended its recovery in early Europe but reversed course after the lukewarm Italian bond auction. Italy raised the funds it sought and yields did fall at the shorter term auction, but increase at the longer term and the…

The argument presented here is to underscore the over-stretched condition of the euro and to warn medium term investors of the risk of the euro bounce. The euro has dropped more than 11% since late October against the dollar and we suspect…

Better than expected reception to Spain and Italy’s debt auctions have spurred risk on; dollar softer. BoE, as expected, left policy unchanged, ECB expected to do the same; Japan’s current account shrinks. US advanced retail sales expected…

The euro was recovering in early Europe, moving back toward the upper end of its recent narrow range and it reversed course sharply, triggering stops along the way as it dropped nearly a cent to $1.2695. The technical failure yesterday at…

The light news stream, adequate bill auction receptions and comments from Fitch suggesting France's AAA rating is secure this year encouraged short-term players to take profits. However, sentiment is still wholly euro negative and a large…

The results are in from the poll I began a month ago. By an overwhelming majority, Credit Writedowns readers believe the crisis will continue.

Pavlina Tcherneva argues that the job guarantee is not just an afterthought to MMT but a crucial component that has so far offered the most coherent counter-cyclical economic stabilizing mechanism.

Tough to bet on a triple top here. Looks like 82.60 is the next key level, which is the .618 fib retracement of the June 7, 2010/May 2, 2011 move.