Overview: There are three themes today. First, the sharp decline in US rates seen yesterday (-14 bp on the two-year yield) on the back disappointing economic data seemed a bit exaggerated and the two-year yield has bounced back to almost 3.90% from around 3.81%. This appears to be helping the dollar consolidate today. Second, bank shares are coming under renewed pressure. The US KBW bank index fell almost 2% yesterday after a 0.5% decline on Monday. Today, the Topix...
Read More »FX Daily, September 21: Risk Appetites Join Tokyo on Vacation
Swiss Franc The Euro has fallen by 0.45% to 1.0751 EUR/CHF and USD/CHF, September 21(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Global equity markets are off to a poor start to the week, and the dollar appears to be enjoying a safe-haven bid. Tokyo markets are closed until Wednesday, while Asia-Pacific stocks tumbled, and the regional index is unwinding last week’s gains. The Dow Jones Stoxx 600 is off...
Read More »FX Daily, August 7: Three Asian Central Banks Surprise Investors
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...
Read More »FX Daily, March 27: Global Bond Rally Continues, Greenback Remains Firm
Swiss Franc The Euro has fallen by 0.05% at 1.1194 EUR/CHF and USD/CHF, March 27(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The US 10-year yield is trading below the Fed funds target. The two-year yield is trading below the lower end of the Fed funds target range. A warning by New Zealand that the next rate move could be a cut sent New Zealand and Australian...
Read More »FX Daily, March 26: Semblance of Stability Re-Emerging
Swiss Franc The Euro has risen by 0.06% at 1.1231 EUR/CHF and USD/CHF, March 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The sell-off in equities seemed to peak yesterday, and US indices were narrowly mixed. Traders found comfort in that performance, even though the S&P 500 finished a little below 2800, and took the markets in the Asia-Pacific region...
Read More »FX Daily, March 13: Still Waiting for Brexit Climax
Swiss Franc The Euro has fallen by 0.04% at 1.1368 EUR/CHF and USD/CHF, March 13(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The Brexit drama continues to command attention. A vote on leaving without an agreement will be held today, and if that fails, there will be a vote tomorrow on an extension. Meanwhile, the first increase in headline US CPI in four...
Read More »FX Daily, February 22: Markets Ending Week with A Whimper
Swiss Franc The Euro has fallen by 0.09% at 1.1333 EUR/CHF and USD/CHF, February 22(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The global capital markets are winding down what appears to be an inconclusive week quietly and on a mixed note. The MSCI Asia Pacific Index is poised to snap a four-day advance but held on to a nearly 2% gain for the week. European...
Read More »FX Daily, February 07: Dollar’s Gains Extended
Swiss Franc The Euro has fallen by 0.24% at 1.1359 EUR/CHF and USD/CHF, February 07(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The five-day advance of the S&P 500 stalled yesterday and global equities are mixed today. Most Asian centers remain closed, Japan and some small markets were lower, while Taiwan, Australia, and India moved higher. The...
Read More »FX Daily, January 23: Markets Walk Tightrope after Yesterday’s US Equity Drop
Swiss Franc The Euro has risen by 0.03% at 1.1327 EUR/CHF and USD/CHF, January 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Global equities have fared better than the 1.4% slide in the S&P 500 yesterday may have implied. Asian markets were mixed, with China, Korea, Hong Kong, Thailand advancing. The Dow Jones Stoxx 600 from Europe is a little changed...
Read More »FX Daily, January 16: Markets are Eerily Calm
Swiss Franc The Euro has risen by 0.14% at 1.1286 EUR/CHF and USD/CHF, January 16(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: There is an eerie calm over in the capital market through the European morning today despite some ostensibly worrisome developments. While many, like ourselves, expect UK Prime Minister May to survive a vote of confidence, it hardly...
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