currencies

Last month I wrote an article called “The ECB is the difference” which claimed the ECB was the pivotal institution in the European sovereign debt crisis. I presented two options that the European Central Bank had in relieving pressure on…

The past two weeks have seen large disruptions in the global capital markets and various policy responses. Market participants are having a difficult time getting a handle on these developments. There are three things investors should…

In the audio clip below, Ambrose Evan-Pritchard explains why he is a eurosceptic and why he believes a breakup in the eurozone is inevitable.

There are two spotlights in Europe today. France and Switzerland and their problems are intertwined. Despite denials by various French officials, the market suspects there is sufficient smoke to indicate a fire. Reuters reports that an…

Sentiment remains poor ahead of FOMC meeting; safe haven trades to remain in favor. Euro zone remains under pressure despite ECB purchases of Italian and Spanish bonds . China data supports soft landing thesis; Asian central banks…

We’re not taking a victory lap here but think gold is now in the midst of a massive repricing as a legit global currency/store of value. Central banks are buying even at prices north of $1,500 per ounce. These are strong hands and not the…

Sentiment remains poor after S&P downgrade; equities; safe haven trades to remain in vogue. Euro zone to remain under pressure despite ECB purchases of Italian and Spanish bonds. G7, G20, EU, and ECB weekend meetings have done little…

Standard and Poor’s downgraded U.S. creditworthiness to AA+, becoming the first to remove the triple-A status from the world’s largest economy and largest debtor. Moreover, a negative outlook has been retained. The element of surprise…

We repeat: the “debt problem” is a currency problem and the currency must and will collapse. The global monetary system exists at the pleasure of the Fed, which legally exists at the pleasure of Congress, which as we have learned only has…

All eyes on US jobs data today, FOMC meeting next week. Euro zone periphery remains under pressure as ECB said to buy bonds; data softer than expected. Global equity markets are lower as growth risks, sovereign risks persist; EM FX softer…