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Tag Archives: Europe

Dollar – Why it Failed to Rally on Strong Retail Sales

Dollar – Why it Failed to Rally on Strong Retail Sales Daily FX Market Roundup 04.15.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The U.S. dollar struggled to rally on Thursday despite very strong U.S. economic reports. According to the latest releases, the U.S. economy roared back to life in March and early April. Retail sales, the most anticipated piece of U.S. data this week blew expectations as stimulus checks and vaccinations fueled robust demand....

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Dollar – Vaccine Concerns Overshadow CPI

Dollar – Vaccine Concerns Overshadow CPI Daily FX Market Roundup 04.13.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The biggest news on Tuesday turned out to be concerns about Johnson & Johnson vaccine and not the U.S. inflation report. The country’s two health agencies (FDA and CDC) recommended halting use of the one shot vaccine after 6 cases of a rare but deadly blood clot disorder. Six cases is small when measured against the nearly 7 million...

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Only Multilateral Cooperation Can Stop Harmful Tax Competition

Yves here. My tax maven friend has mentioned off and on that OECD countries have been working on how to stop or at least reduce multinational tax avoidance via artful transfer pricing and other scheme, via their Base Erosion and Profit Shifting initiative, or BEPS. The wee problem is it was launched in 2013 and it’s now 2021. Will the US showing more support make a difference? By Anis Chowdhury, Adjunct Professor at Western Sydney University and University of New South Wales (Australia), who...

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Euro Bounces – How Much Juice is There?

Euro Bounces – How Much Juice is There? Daily FX Market Roundup 04.12.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Euro kicked off this busy trading week with modest gains against the U.S. dollar. Despite continued lockdowns in some of the region’s biggest economies, slow vaccine rollout and lower growth forecasts from France and Spain, the single currency has been extraordinarily resilient. It quietly moved higher since the beginning of the month rallying...

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Central Bank Events to Watch this Week

Central Bank Events to Watch this Week Daily FX Market Roundup 04.05.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The first full trading week of April started quietly with many markets closed for Easter Monday. It wasn’t until the start of the New York trading session that the U.S. dollar started to move. Despite Friday’s strong jobs report, today’s better than expected non-manufacturing ISM and an increase in yields, the greenback traded lower against...

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Nearly 1 Million Jobs but Dollar Barely Budges – Here’s Why

Nearly 1 Million Jobs but Dollar Barely Budges – Here’s Why Daily FX Market Roundup 04.02.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The most anticipated event risk this week was the March U.S. non-farm payrolls report. Nearly a million jobs were created, the most in 7 months. Economists were looking for NFPs to rise by 647k and instead it jumped 916k. The unemployment rate dropped to 6%, which was right in with expectations. Such a blowout jobs...

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2/4/21: COVID19: U.S. vs EU27 comparatives

US vs EU27 comparatives in the pandemic dynamics through the week 12 of 2021 are showing continued, albeit declining improvement in the relative position of the US. That said, much of the improvement is down to lags in new waves development, with the EU27 now firmly in its Wave 3 and the U.S. potentially entering Wave 4.Based on the table and charts posted above, Europe (EU27) has now lost the plot on containing the pandemic. This takes place at the time when EU27 is botching roll out of...

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2/4/21: COVID19: BRIICS

 As warned last month, BRIICS are now in a new wave of the pandemic, just like the rest of the world:The new wave is worse than the previous one in terms of new weekly case counts and deaths. Brazil and India are leading the new cases pandemic, while Brazil leads in terms of deaths. Russia is relatively stable on deaths counts at highly elevated levels, while India death counts (highly suspicious in terms of low numbers throughout the entire 2021 so far) are now rising once again.Table above...

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The ‘Roaring Twenties’ and Covid Recovery: Revisiting the Evidence for Europe

Yves here. I’m not sure I get this post. Seriously. It is clever to use the recovery from World War I and the Spanish Flu as a point of departure for discussing the real economy after Covid. But the world was vastly different then. Pre Great War globalization broke down. The major powers went back on the Gold Standard, although Peter Temin has argued, persuasively, that that was the worst thing they could have done and that it led to the Great Depression. And the world didn’t have to worry...

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