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Tag Archives: Italy

Miracles Aren’t Shovel-Ready

The monetary mouse. After years of Mario Draghi claiming everything under the sun available with the help of QE and the like, Christine Lagarde came in to the job talking a much different approach. Suddenly, chastened, Europe’s central bank needed assistance. So much for “do whatever it takes.” They did it – and it didn’t take. Lagarde’s outreach was simply an act of admitting reality. Having forecast an undercurrent of worldwide inflationary breakout (how...

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FX Daily, May 11: Quiet Start to New Week

Swiss Franc The Euro has fallen by 0.08% to 1.0514 EUR/CHF and USD/CHF, May 11(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The new week begins slowly in the capital markets. Many markets in the Asia Pacific region, including Japan, Hong Kong, and Australia, gained over 1%, but European and US shares are heavier. Benchmarks off all three regions rallied by 3.4%-3.5% over the past two weeks. Bond markets are...

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FX Daily, April 29: Heavy Dollar amid Month-End Pressure

Swiss Franc The Euro has risen by 0.05% to 1.0553 EUR/CHF and USD/CHF, April 29(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The dollar is lower across the board as dealers attribute the selling to month-end pressures ahead of the FOMC today and ECB tomorrow and long-holiday weekend for many. Japan’s Golden Week holiday has already begun. Despite the loss in US equities yesterday, despite the higher opening,...

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FX Daily, April 22: Investors Catch Collective Breath, but Sentiment remains Fragile

Swiss Franc The Euro has risen by 0.09% to 1.0562 EUR/CHF and USD/CHF, April 22(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview:  Risk-appetites appear to have stabilized for the moment. Most equity markets are higher. Japan and Malaysia were exceptions, but the MSCI Asia Pacific Index rose for the first time this week. In Europe, the Dow Jones Stoxx 600 is recouping about a third of yesterday’s loss. The S&P...

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FX Daily, March 10: Markets Stabilize after Body Blow

Swiss Franc The Euro has risen by 0.09% to 1.0597 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: It appears after a few days of miscues, US officials struck the right chord, and the global capital markets seemed to stabilize shortly after the US session ended. President Trump’s press conference today is expected to spell out in greater detail relief for households and businesses....

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FX Daily, March 9: Monday Meltdown

Swiss Franc The Euro has risen by 0.07% to 1.059 EUR/CHF and USD/CHF, March 09(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Equities plunged, and yields sank as the coronavirus threatens a global recession. The oil price war signaled by Saudi Arabia and Russia aggravates the desperate situation. Equities markets in the Asia Pacific region slumped 3-7%. The Shanghai Composite was fell 3%. The Nikkei was off by...

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FX Daily, February 26: Dramatic Investor Adjustment Continues

Swiss Franc The Euro has fallen by 0.16% to 1.0601 EUR/CHF and USD/CHF, February 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The warning by the US Center for Disease Control and Prevention that Americans should prepare for an outbreak of Covid-19 sent the S&P 500 tumbling to an 11-week low and the 10-year Treasury yield to a record low near 1.30%. The volatility of the S&P (VIX) jumped to its...

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FX Daily, February 24: Stocks Slammed and Yields Drop as Virus Containment Fails

Swiss Franc The Euro has fallen by 0.15% to 1.0588 EUR/CHF and USD/CHF, February 24(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The ring of containment of Covid-19 has grown from China. The new frontline is Japan, South Korea, Italy, and Iran. A lockdown of around 50k people near Milan and Austria blocking trains from Italy is scaring investors. Asian markets fell, but South Korea bore the brunt with a...

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European Data: Much More In Store For Number Four

It’s just Germany. It’s just industry. The excuses pile up as long as the downturn. Over across the Atlantic the situation has only now become truly serious. The European part of this globally synchronized downturn is already two years long and just recently is it becoming too much for the catcalls to ignore. Central bankers are trying their best to, obviously, but the numbers just aren’t stacking up their way. We’ve seen all this before, repeatedly. Part of the...

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As the Data Comes In, 2019 Really Did End Badly

The coronavirus began during December, but in its early stages no one knew a thing about it. It wasn’t until January 1 that health authorities in China closed the Huanan Seafood Wholesale Market after initially determining some wild animals sold there might have been the source of a pneumonia-like outbreak. On January 5, the Wuhan Municipal Health Commission issued a statement saying it wasn’t SARS or MERS, and that the spreading disease would be probed. In other...

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