from Morning Bid with David Gaffen:

Dollar Blues

March 18, 2016

The dollar firmed up against most major currencies on Friday, still feeling the rippling effects of the Federal Reserve’s decision to come in more dovishly than many expected.

from Morning Bid with David Gaffen:

Top Markets Stories of 2015

December 22, 2015

It’s been an interesting year, and the volatility we saw strikes some as a harbinger, with more divergence in monetary policy and the long-anticipated beginning of a Fed tightening cycle careening into the collapse of oil, setting up for an eventful 2016. For now, though, here’s a look at the top 10 stories in the markets over the past year:

from Breakingviews:

Inditex is priced for perfection

December 10, 2015

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

from Morning Bid with David Gaffen:

A Little Nervous

December 10, 2015

With a week to go before the Federal Reserve meeting, markets are showing some signs of jitters. While most people would say that the Fed's rate hike is priced in, the activity in the markets shows that in a week with scant news, it doesn't take much to push things around and for people to show that they are worried about which direction things are going.

from MacroScope:

Exports continue to give cold shoulder to Bank of Canada’s Poloz

November 13, 2015

Ever since Bank of Canada Governor Stephen Poloz took office, he has preached the merits of a weaker currency for Canadian exports. But the roughly 30 percent fall in the dollar since then has failed to coax an export-based revival in Canada.

from Morning Bid with David Gaffen:

The Crane, The Crane!

October 16, 2015

Industrial projects, particularly large ones, tend to require lots of heavy equipment, like cranes, and so this week's results out of Manitowoc, which makes big cranes used in various parts of the world, including Asia and the Middle East, reported pretty disappointing results, adding that it expected more softness going forward with margins remaining in the low single digits for all of 2015.

from MacroScope:

Brazil’s currency tests central bank’s patience

October 5, 2015

Brazil's Central Bank President Tombini gestures during a public hearing of the Budget Joint Commission in the Chamber of Deputies in Brasilia

The Brazilian real's dramatic drop has left the central bank with two options: jack up rates aggressively in one startling move, or tolerate higher inflation for longer.

from MacroScope:

Rate hikes are coming… in Latin America

September 17, 2015

Federal Reserve Board Chair Janet Yellen prepares to testify before a House Financial Services committee hearing on Capitol Hill at in Washington

Latin American central banks are watching today's Federal Reserve meeting very closely. Some are ready to raise their own interest rates, even if Yellen does not pull the trigger now.

from MacroScope:

Silver lining for emerging FX: little room to fall more

September 4, 2015


If there is any silver lining for emerging market currencies after their thrashing in August, it is that they are probably now so cheap they don't have much room to weaken any further.

from MacroScope:

Grass getting flattened by fighting FX elephants

August 27, 2015

Young male elephants lock tusks in battle on the plains at the foot of Mount Kilimanjaro in Amboseli national park, southern KenyaThe ongoing race to the bottom for currencies this year is hurtling towards a zero-sum result.