currencies

In case you have noticed recently the Euro and S&P500 seem to be moving together almost tick for tick. Here are the daily moves in futures over the past month. Makes you think they’re both dancing to the same tune by the Algorithmics,…

The auxiliary objective of QE by the Fed is to weaken the USD. Herein lies the rub. Quite simply, with the recent announcement by the BOE of another round of QE worth £75 billion, with the ECB now willingly or unwillingly being forced into…

Another volatile session marked by choppy overnight trading; global stocks mixed overnight. Euro zone summit unlikely to draw a line in the sand; German Ifo somewhat better than expected. USD/TRY managed to keep most of its gains following…

The Turkish central bank took a turn back to orthodox policy today despite leaving the benchmark 1-week repo rate unchanged at 5.75%. It dropped the language from several previous meetings about potential easing. The bank did hike the…

European session marked by choppy macro price action; France and Germany split over EFSF leverage. North American session likely dominated by Greek vote, US reports and headlines surrounding EFSF. UK retail sales beat expectations but…

Equity markets are mostly positive after strong gains overnight; supported by euro zone crisis plans. EUR firms despite Spain’s rating downgrade by Moody’s; Norges Bank expected to remain on hold. Japanese and South Korean policy makers…

Risk sentiment remains under pressure overnight; global equities lower, dollar mostly higher. European economic data continue to deteriorate; UK September inflation surges to new highs. RBA minutes point to some capacity to lower policy…

Europe is slowly but inexorably moving toward its own version of TARP—the U.S. “toxic asset relief program”. Rather than sub-prime mortgages and related derivatives, the toxic assets in Europe are sovereign credits, which in some cases –…

G20 Finance Ministers said they expect decisive action on 10/23; dollar pares back some recent losses. Markets likely to remain focused on Europe this week with Greek austerity vote and EU summit. EM markets this week focus on rate…

Market sentiment is improving amid hopes that G20 policy makers willing to take action to stem crisis. Markets keen to focus on Italian vote of confidence and US economic data in North American session. China’s inflation slowed in Sept.…