from MacroScope:

The only way is down?

By Mike Peacock
December 17, 2014

A man walks out of a building past a board showing currency exchange rates in Moscow

No further dramatic interventions by the Russian authorities overnight with the result that the rouble has opened five percent weaker against the dollar in Moscow.

from MacroScope:

Russian currency crisis

By Mike Peacock
December 16, 2014

Russia's Central Bank Governor Nabiullina applauds during the VTB Capital "Russia Calling!" Investment Forum in Moscow

After the central bank dramatically raised interest rates by 6.5 percentage points to 17 percent overnight, Russia has given up any pretence that it is not in the grip of a currency crisis.

from MacroScope:

As Greece teeters, France and Italy talk reform

By Mike Peacock
December 10, 2014

France's President Hollande talks with Italy's Prime Minister Renzi during the Asia-Europe Meeting (ASEM) in Milan

With the Greek government again in peril and Italy flirting with a junk credit rating, it’s all starting to feel a bit familiar.
Greek stocks suffered their steepest daily fall in more than a quarter century on Tuesday after Prime Minister Antonis Samaras brought forward a presidential election.

from Breakingviews:

China’s deposit guarantee is really the opposite

December 1, 2014

By John Foley

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from MacroScope:

EU investment plan; game changer or empty vessel?

By Mike Peacock
November 26, 2014

European Central Bank President Draghi and Eurogroup President -Juncker talk during a news conference in Nicosia, Cyprus

New European Commission President Jean-Claude Juncker will unveil his investment plan for the bloc to the European Parliament today which aims to generate 315 billion euros of investment and lift growth onto a higher plane. The details were put out last night and there’s no new money in it. Instead, 21 billion euros of funding is expected to leverage private investment of a whopping 15 times that amount.

from MacroScope:

The rouble and the hryvnia

By Mike Peacock
November 11, 2014

A reflection of a yearly chart of U.S. dollars and Russian roubles are seen on rouble notes in this illustration picture taken in Warsaw

Ukraine's currency shed nearly 5 percent on Monday after a weekend that saw the heaviest shelling in a month of the main rebel stronghold in the east and signs that Moscow had dispatched troops and tanks to reinforce separatists. The prospect that a two-month-old ceasefire could collapse has helped drive the currency 12 percent lower since the central bank abandoned an unofficial peg a week ago.

from Breakingviews:

Japan’s banks may swap old nemesis for new foe

November 7, 2014

By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from MacroScope:

EU leaders meet for a gas

By Mike Peacock
October 23, 2014

France's President Hollande talks with German Chancellor Merkel  during a meeting on the sidelines of a Europe-Asia summit in Milan

A two-day summit of EU leaders is supposed to focus on climate and energy policy including efforts to enhance energy security following the threat of interruptions to gas supplies from Russia.

from Breakingviews:

China’s capital defences have sprung a major leak

October 22, 2014

By John Foley

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

from MacroScope:

Britain back on board for action in Iraq

By Mike Peacock
September 25, 2014

An Iraqi SWAT trooper covers his ears as he fires a mortar bomb during clashes with Islamic State militants, north of Muqdadiyah

U.S. air strikes in Syria continued overnight with a monitoring group saying at least 14 Islamic State fighters were killed.