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Tag Archives: Spain

Spanish Inflation Shocks

Overview: The sharp sell-off in US equities yesterday, led by tech, is weighing on today’s activity. Most of the large Asia Pacific markets excluding Japan and India lost more than 1% today. The three-day rally in Europe’s Stoxx 600 is being snapped today. US futures are posting small losses. The US 10-year yield is little changed around 3.17%, while European benchmarks are narrowly mixed, with the periphery doing better than the core. The dollar is enjoying a firmer...

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As The Fed Seeks To Justify Raising Rates, Global Growth Rates Have Been Falling Off Uniformly Around The World

Sentiment indicators like PMI’s are nice and all, but they’re hardly top-tier data. It’s certainly not their fault, these things are made for very times than these (piggy-backing on the ISM Manufacturing’s long history without having the long history). Most of them have come out since 2008, if only because of the heightened professional interest in macroeconomics generated by a global macro economy that can never get itself going. What PMI’s do have going for them is...

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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...

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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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FX Daily, September 13: Bonds and the Dollar Remain Heavy Ahead of the Weekend

Swiss Franc The Euro has fallen by 0.19% to 1.0932 EUR/CHF and USD/CHF, September 13(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The markets are digesting ECB’s actions and an easing in US-Chinese rhetoric. Next week features the FOMC meeting and three other major central banks (Japan, Switzerland, and Norway). The US equity rally that saw the S&P 500 edge closer to the record high set in late July...

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FX Daily, April 29: The Busy Week Begins Slowly

Swiss Franc The Euro has risen by 0.15% at 1.1386 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: It promises to be an eventful week with the FOMC and BOE meeting, US jobs report and EMU April CPI and Q1 GDP on tap.  However, the week is marked by the May Day holiday in the middle of the week. Japan’s markets are closed all week, while...

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FX Daily, April 26: Greenback Consolidates Ahead of Q1 GDP

Swiss Franc The Euro has risen by 0.14% at 1.1373 EUR/CHF and USD/CHF, April 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The equities are finishing softly after the rally stalled in the middle of the week. The large markets in Asia fell, led by China, and the MSCI Asia Pacific Index fell for a third session, the longest losing streak in two months.  Europe’s...

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FX Weekly Preview: The Week Ahead: Don’t Skip Steps on Escalation Ladders

United States The drop in US yields and disappointing economic data weighed on sentiment and the dollar last week. Even weakness in equities, which had seemed to lend the greenback support, failed to do so at the end of last week. With the real Fed funds rate (adjusted for inflation) below zero, employment at 50-year lows, and some fiscal stimulus still in the pipeline, the doom and gloom cant of a recession next year...

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FX Daily, May 31: Don’t Confuse Calmer Markets with Resolution

Swiss Franc The Euro has fallen by -0.42% to 1.1485 CHF. EUR-CHF and USD-CHF, May 31(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The global capital markets that were in panic mode on Tuesday stabilized yesterday, and corrective forces have carried into today’s activity. However, the underlying issues in Italy and Spain are hardly clarified in the past 48 hours. ...

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FX Weekly Preview: ECB and BOJ Meetings Could be Key to Dollar Direction

The US dollar has been marked lower since the middle of last month. It flies in the face strong growth, rising inflation expectations, and greater conviction that the Fed will continue to raise interest rates this year. Moreover, an oft-cited knock on the dollar, the widening current account, may be offset this year by the impact from US corporations repatriating earnings that have been kept offshore. Another weight on...

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