A consolidative tone has emerged ahead of the outcome of the FOMC meeting later today. The focus is not so much on the 75 bp rate hike, but on its forward guidance. Many expect the...
Lebanon is in the midst of a currency crisis and has devalued its local currency. But implementing a new exchange rate policy is set to have catastrophic consequences on people’s daily lives. Lina Boubess, 62,...
The dollar continues to ride high. It reached its highest level against the yen since the recent intervention. The Canadian dollar has fallen to its lowest level in two-and-a-half years and the New Zealand dollar...
The euro has fallen to a 20-year low threatening to inflict further pain on an economy that’s already having to contend with a surge in inflation. And the bad news is that the common currency’s...
The poor eurozone PMI underscores likely recession and weighs on the single currency, which was sold to a new 20-year low. Rather than a “Turn Around Tuesday” a broadly consolidative session is unfolding. Asian and...
The sell-off in European bonds continues today. The 10-year German Bund yield is around four basis points higher to bring the three-day increase to about 22 bp. The Italian premium over Germany has risen by...
The US dollar is trading heavily against all the major currencies, led by the Norwegian krone and euro. Emerging market currencies are also firmer. However, risk-appetites seem subdued. Even though most large bourses in Asia...
The US dollar enjoys a firmer bias against the major currencies ahead of the July employment data. Emerging market currencies are mixed. Asian currencies are generally firm while central Europe is a bit softer. Some...
The US Dollar has been the global reserve currency ever since 1944 when the Bretton Woods Agreement was signed between the major nations of the world. For the uninitiated, a global reserve currency is a...
The dollar’s downside correction continues today, helped by hawkish signals from the Reserve Bank of Australia and unnamed sources who have played up the chances of a 50 bp hike by the European Central Bank...
The higher-than-expected US CPI and the strong expectation of a 100 bp hike by the Fed in two weeks is propelling the dollar higher. It jumped to almost JPY139.40 and the euro is off more than...
New week, same refrain. Stocks down, yields up, and the dollar is broadly higher. The Nikkei and Taiwan fell by more than 2% and South Korea and Australia were off more than 1%. China’s Shanghai...
