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Tag Archives: ECB

FX Daily, April 28: Biden and Powell are Center Stage

Swiss Franc The Euro has fallen by 0.02% to 1.104 EUR/CHF and USD/CHF, April 28(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: It appears that the backing up of US yields is giving the dollar a better tone and challenging the Eurosystem, which has stepped up its bond purchases. The US 10-year yield is around 1.65%, roughly a two-week high and back above the 20-day moving average. European yields are mostly 2-4...

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FX Daily, April 23: Greenback Slips into the Weekend

Swiss Franc The Euro has risen by 0.28% to 1.1044 EUR/CHF and USD/CHF, April 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Many narratives link the prospect of higher capital gains tax on about a third of 1% of Americans as the catalyst for losses in US equities yesterday (and Bitcoin) and weakness in some global shares today. Of the large markets in the Asia Pacific region, only Japan, which is reimposing...

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FX Daily, March 11: Risk Extends Gains Ahead of the ECB

Swiss Franc The Euro has fallen by 0.18% to 1.1065 EUR/CHF and USD/CHF, March 11(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Even though the NASDAQ closed lower yesterday and the reception of the 10-year Treasury auction did not excite, market participants are growing more confident. Led by China, the major markets in the Asia Pacific region rallied. The Shanghai Composite’s 2.35% gain not only snaps a...

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FX Daily, March 10: Markets are not Yet Convinced that Yesterday’s Move Signaled a Trend Change

Swiss Franc The Euro has risen by 0.39% to 1.1078 EUR/CHF and USD/CHF, March 10(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Fear that yesterday’s reversals represent little more than one-day wonders is contributing to the overall consolidative tone today. Most equity markets in the Asia Pacific region and Europe edged higher. China’s stocks tumbled yesterday, despite reports of official assistance, were...

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FX Daily, March 2: The Dollar Finds Better Footing

Swiss Franc The Euro has risen by 0.05% to 1.1027 EUR/CHF and USD/CHF, March 2(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: A warning from China’s top banking regulator about the frothiness of foreign markets appeared to blunt the knock-on effect of yesterday’s largest rise in the S&P 500 since last June (~2.4%) and weighed on global equities. The large markets in the Asia Pacific region but India and...

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Even The People ‘Printing’ The ‘Money’ Aren’t Seeing It

Everyone in Europe has long forgotten about what was going on there before COVID. First, an economy that had been stuck two years within a deflationary downturn central bankers like Italy’s new recycled top guy Mario Draghi clumsily mistook for an inflationary takeoff. Both the inflation puzzle and ultimately a pre-pandemic recession have taken a back seat to everything corona. Whereas Draghi spent those years howling for inflationary conditions that were nowhere in...

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FX Daily, January 29: Please Stay Seated, the Ride is not Over

Swiss Franc The Euro has risen by 0.16% to 1.0789 EUR/CHF and USD/CHF, January 29(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Powerful corrective forces continue to grip the market. After a large rally to start the New Year, the correction is punishing. Most Asia Pacific equities markets were off again today to bring the week’s loss to 2.5% to 5.5% throughout the region. Europe’s Dow Jones Stoxx 600 is a...

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FX Daily, January 22: Faltering Friday

Swiss Franc The Euro has risen by 0.07% to 1.0773 EUR/CHF, January 22(see more posts on EUR/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Fear that social restrictions may have to be broadened and extended is helping spur a wave of profit-taking and de-risking, which has also been encouraged by disappointingly high-frequency data. The equity rally seemed to falter a bit in the US, as the S&P 500 eked out a minor 0.03% gain yesterday. In...

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FX Daily, January 21: It is the ECB’s Turn but Little New to be Said or Done

Swiss Franc The Euro has fallen by 0.06% to 1.0761 EUR/CHF and USD/CHF, January 21(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The S&P 500 and NASDAQ gapped higher yesterday to record-levels, and the reflation theme lifted Asia Pacific shares for the third session today. South Korea, Taiwan, and China led the advance. Europe’s Dow Jones Stoxx 600 gapped higher and is consolidating, seemingly waiting for...

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FX Daily, January 11: Greenback Extends Recovery

Swiss Franc The Euro has fallen by 0.04% to 1.0816 EUR/CHF and USD/CHF, January 11(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Julius Ceasar is said to have “crossed the Rubicon” on January 10, 49 BCE, taking the 13th Legion into Rome, defying orders from the Senate, and precipitating the Roman Civil Wat that marked the end of the republic and the birth of the empire. Last week’s events paled in comparison...

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