currencies

Dollar moves broadly higher after risk rally ran out of steam; European stocks slide from 2-month high. Extreme market positioning, technicals and positive macro data enabled unwind of safe haven bets. South Korea’s central banks keeps…

Global stock continue to push higher amid choppy conditions; EuroStoxx reaches 6-week high. Slovakia’s rejection of the EFSF 2.0 is unlikely to derail ratification; EUR/USD breaches 1.38. China’s PBOC reportedly intervened it the Chinese…

The elevated volatility levels have made for difficult times for many investors. To simplify the complexity, there is much reference to risk-on and risk-off. We look at the correlations (60-day rolling correlation of the percentage change)…

Equity markets paring back recent gains after one-week recovery ahead of Slovakia EFSF vote. Slovakia is the last country to vote on EFSF enhancement; “Yes” vote is not a done deal. News reports indicate China’s SWF is buying bank shares;…

US dollar broadly weaker as risk appetite returns; correction across asset classes. Merkel and Sarkozy promise comprehensive plan to shore up banks and give closure on Greece in early. US fixed income markets closed today. Canadian markets…

Markets choppy ahead of the US employment report; global stocks mixed, commodities softer. US economic data performance continues to outperform; Sep. Canadian employment surges. Custody holdings at the Federal Reserve for foreign central…

The Bank of England, which has a penchant for surprising the market, chose not to wait for the quarterly inflation report to provide cover, and announce GBP75 bln additional bond purchases over the next four months. We forecast sterling to…

Since I did the numbers for the US, I thought I would do the numbers for Germany too. Below are the bilateral trade figures for Germany in 2010, first ranked by deficit with country and then by surplus with country. Germany has a deficit…

Turning to foreign sources of capital will only aggravate the problem from which Europe already suffers. Even assuming that developing countries are willing to take on risks that Europeans find prohibitive, their help will not improve…

Sterling plummets as BoE surprises the market with QE announcement; global stocks, oil advance. All eyes turn to Berlin for Trichet’s last meeting in the hopes of a policy announcement. BoE announcement see QE larger and earlier than many…