Tag Archives: 4.) Marc to Market

Swiss Franc The Euro has risen by 0.18% to 1.0859 EUR/CHF and USD/CHF, August 15(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: It took some time for investors to recognize that the scaling back of US tariff plans was not part of a de-escalation agreement. There was an explicit acknowledgment by US Commerce Secretary Ross that there was no quid pro quo. The US tariff split was more about the US than an overture...

Swiss Franc The Euro has fallen by 0.39% to 1.0862 EUR/CHF and USD/CHF, August 14(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The US cut its list of Chinese goods that will be hit with a 10% tariff at the start of next month by a little roe than half, delaying the others until the mid-December. This spurred a near-euphoric response by market participants throughout the capital markets. However, as the news...

Swiss Franc The Euro has fallen by 0.11% to 1.0851 EUR/CHF and USD/CHF, August 13(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The confrontation in Hong Kong and the fallout from the Argentine primary over the weekend join concerns the conflict between the two largest economies and slower growth to force the animal spirits into hibernation. Global equities remain under pressure. Japan’s Topix joined several...

Swiss Franc The Euro has fallen by 0.06% to 1.0883 EUR/CHF and USD/CHF, August 12(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: China again tried to temper the downside pressure on the yuan, and this appears to be helping the risk-taking attitude. Many centers in Asia were closed today, including Japan and India, though most of the other equity markets advanced...

The US-China tensions remain the dominant driver of investor risk appetites. President Trump has repeatedly accused China of manipulating its currency on twitter, and finally Treasury Secretary Mnuchiin acquiesced after China failed to prevent the dollar from rising above CNY7.0. China set the reference rate for the dollar lower than models based on the basket the PBOC uses implied for the past three sessions, and this...

Swiss Franc The Euro has risen by 0.27% to 1.0948 EUR/CHF and USD/CHF, August 08(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The challenges for investors have not gone away, but a combination of factors has helped stabilize the capital markets. The PBOC set the dollar’s reference rate above CNY7.0, but not as high as anticipated, and this has seen the yuan...

The world’s two great powers are at loggerheads. Chinese nationalism meet your sister, US nationalism. Import substitution strategy of Made in China 2025 meet your cousin Make America Great Again. Paradoxically, or dialectically, the similarities are producing divergent interests that extend well beyond economics and trade policy. Consider that the intermediate-range nuclear missile treaty between the US and Russia did...

Swiss Franc The Euro has fallen by 0.14% to 1.0918 EUR/CHF and USD/CHF, August 07(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: While investors keep a watchful eye on the dollar fix in China (a little firmer than projected) and tensions with the US, two other developments compete for attention. The Reserve Bank of New Zealand and the central banks of India and...

Swiss Franc The Euro has risen by 0.23% to 1.0928 EUR/CHF and USD/CHF, August 06(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The escalation of the economic conflict between the world’s two largest economies is dominating the capital markets. The US cited China as a currency manipulator after the North American markets closed, ensuring the troubled start to...

President Trump’s tweets last week announcing the end of the tariff truce signaled a new phase in the US-Chinese tensions. China responded as did investors. I was fortunate to have been invited to the Bloomberg set to discuss the issues of the day. In this two-minute clip, I suggest there will be far-reaching implications for investors. World growth is getting marked down as deflationary forces strengthen. The...