Tag Archives: China

Stock Markets EM FX was mostly stronger last week, despite the dollar’s firm tone against the majors. Best EM performers on the week were MXN, KRW, and COP while the worst were ZAR, INR, and PEN. US jobs data poses the biggest risk to EM this week, as US yields have been falling ahead of the data. Indeed, the current US 10-year yield of 2.74% is the lowest since February 6. We remain cautious on EM FX, and do not think...

Swiss Franc The Euro has fallen by 0.11% to 1.1758 CHF. EUR/CHF and USD/CHF, March 29(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The choppy US equity session yesterday, ultimately ending with modest losses as the tech sector remained under pressure, has been shrugged off in Asia and Europe, where modest gains have been seen. The dollar is little changed after...

Bild: Pixabay Schweizer Banken und Dienstleister sehen FinTech-Innovatoren nicht mehr als disruptiv an, sondern inzwischen als potentielle Partner – aber sie suchen immer noch Lösungen für Banking 2.0. Gleich mehrere Veranstaltungen versuchten darauf eine Antwort zu finden. Zum vierten Male veranstaltete SIX den Zürcher Hackathon (Wortschöpfung aus "Hack" und "Marathon") im Schiffsbau Zürich. 132...

Eurozone The investment meme of a synchronized global upturn has been undermined by the recent string of US and European economic data. The flash March eurozone composite reading fell to 55.3, the lowest reading since January 2017. Although Q4 17 US GDP may be revised higher (toward 2.8% from 2.5%) mostly due to greater inventory accumulation, the curse of weak Q1 GDP appears to be showing its hand again, with...

On Page 1, Chapter 1 of the Central Banker Crisis Handbook it states very clearly, “do not make it worse.” It’s something like the Hippocratic oath where monetary authorities must first assess what their actions might do to an already fragile system. It’s why they take great pains to try and maintain composure, appearing calm and orderly while conflagration rages all around. The last thing you want to do is confirm the...

Swiss Franc The Euro has fallen by 0.37% to 1.167 CHF. EUR/CHF and USD/CHF, March 22(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar has not recovered from the judgment that yesterday’s that Fed was not as hawkish as many had anticipated. There was no indication that officials thought they were behind the curve or prepared to accelerate the pace of hikes....

Top Chinese leadership is taking further shape. With Xi Jinping’s continuing consolidation of power going on right this minute, most of the changes aren’t really changes, at least not internally. To the West, and to the mainstream, what the Chinese are doing seems odd, if not more than a little off. Unlike in the West, however, there is determined purpose that is in many ways right out in the open. Many here had been...

Summary Hong Kong may impose a tax on unsold apartments as an effort to increase supply and cool off the housing market. Bank of Israel’s MPC had a split vote last month for the first time in three years. South Africa President Ramaphosa said the ANC wants Julius Malema of the opposition EFF to rejoin the party. Former South Africa President Zuma will face trial on 16 criminal charges. Stock Markets In the EM equity...

The Chinese government reported estimates for Industrial Production, Retail Sales, and Fixed Asset Investment (FAI) for both January and February 2018. The National Bureau of Statistics prepares and calculates China’s major economic statistics in this manner at the beginning of each year due to the difficulties created by calendar effects (New Year Golden Week). Despite this attempt to offset them, there remains...

By far, the easiest to answer for today’s inflation/boom trifecta is China’s CPI. At 2.9% in February 2018, that’s the closest it has come to the government’s definition of price stability (3%) since October 2013. That, in the mainstream, demands the description “hot” if not “sizzling” even though it still undershoots. The primary reason behind the seeming acceleration was a more intense move in food prices. Rising...