currencies

The Brazilian finance minister Guido Mantega continues to worry about the flood of money coming from Europe and the US and has said Brazil will take more steps to defend its currency. Mr. Mantega was quoted saying "With the situation…

This one from the Former Merrill Lynch Chief Investment Strategist Bernstein seems to be making the rounds. Hat tip Barry Ritholtz. Here's where I first noted that Richard Bernstein had turned bullish: Bernstein added that one wants to…

Highlights The US dollar headed higher, except against the Australian dollar, but continues to outperform against the rest of the G10. The euro, after earlier losses accelerated around $1.332, traded below $1.320 following the news that…

Moody’s upgraded Uruguay two notches to Ba1 from Ba3 previously, bringing it into line with S&P’s BB+. We recently added Uruguay to our sovereign ratings model universe, bringing the total number of EM countries ranked to 39. As we…

by Marc Chandler Three observations to share about China, regarding purchases of Japanese assets, suspension of 3-year debt auction for tomorrow and rate hike possibility. First, Japan's MOF reported that China bought JPY262.6 bln of…

by Win Thin Chatter about possible Brazil rate hike today is picking up after November IPCA inflation rose 0.83% m/m and 5.63% y/y. The y/y rate is the highest since February 2009, when the SELIC policy rate was 12.75%. While there is a…

Highlights The US dollar headed higher amid a rise in tension on the Korean Peninsula and more importantly a surge in US bond yields with the 10-year increasing by 7bp today. The euro tested levels under $1.320 but sovereign support,…

by Marc Chandler India's Finance Ministry raised its economic forecast for the year ending March 31, 2011. Back in Feb it had forecast 8.25%-8.75% growth and today increased that forecast to as much as 9.1%. Ironically, the increase in the…

by Lars Schall Folker Hellmeyer, chief analyst at Bremer Landesbank, gave an exclusive interview to chaostheorien.de, with his take on the so called “Currency Wars” and China's role as a stabilizing factor in the world economy. Moreover,…

Highlights The US dollar is mostly lower on news that US President Obama reached an agreement to extend the Bush tax cuts for another two years, which has lifted stocks and buoyed risk appetite, despite the speculation that China may…