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Tag Archives: Europe

Great Week for Dollar, Euro Recovery Ahead?

Great Week for Dollar, Euro Recovery Ahead? Daily FX Market Roundup 01.17.20 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The US dollar wraps up another good week with gains against most of the major currencies. The only exceptions were the Swiss Franc which climbed to its strongest level in 3 months and the Canadian dollar, which held onto its recent gains. Investors brushed off softer US inflation data in favor of stronger retail sales, manufacturing...

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Germany, Maybe Europe: No Signs Of The Bottom

For anyone thinking the global economy is turning around, it’s not the kind of thing you want to hear. Germany has been Ground Zero for this globally synchronized downturn. That’s where it began, meaning first showed up, all the way back at the start of 2018. Ever since, the German economy has been pulling Europe down into the economic abyss along with it, being ahead of the curve in signaling what was to come for the whole rest of the global economy. The ECB, many complained, had panicked in...

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Dollar Bulls Charge Ahead as Data Validates Rally

Dollar Bulls Charge Ahead as Data Validates Rally Daily FX Market Roundup 01.16.20 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The Dow Jones Industrial Average climbed to fresh record highs while the US dollar rose to its strongest level in 8 months against the Japanese Yen on the back of stronger retail sales. After weeks of disappointing economic reports, investors wanted to see data validate the rallies so they jumped on the report when it released, driving...

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Risk Continues its Rally – Will US Consumer Confirm?

Market Drivers January, 16 2020 Equities at record highs US Retail Sales on deck Nikkei 0.07% Dax -0.06% UST 10Y 1.79% Oil $58.1/bbl Gold $1555/oz BTCUSD $8615 Europe and Asia: North America: USD Retail Sales 8:30 Risk was bid in European trade today with US equity indices making fresh record highs in overnight futures trading while commodity currencies firmed with both Aussie and Kiwi getting a boost as the night wore on. There was no major economic news in Asia or Europe and FX was...

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John Helmer: German Parliament Office Reports No Russian Invasion of Donbass, Rejects Media and Government Propaganda

Yves here. If you read Helmer’s write-up carefully, you will notice that the German Bundestag has disputed the strong-form claims made about the level and nature of Russian support for the “rebels” in the Donbass. The press has repeatedly gone over its skis in asserting that the Russian military had acted in a formal manner. Mind you, the German report does not say that it has proof that the Russian military didn’t intervene. After all, it is hard to prove a negative. But it does say the...

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UK Inflation Drop Hints at Rate Cut

Market Drivers January, 15 2020 UK Inflation runs cool Risk assets quiet Nikkei -0.45% Dax -0.07% UST 10Y 1.79% Oil $58.1/bbl Gold $1552/oz BTCUSD $8695 Europe and Asia: GBP UK CPI 1.3% vs. 1.5% North America: USD PPI 8:30 Currency markets were quiet at the midweek point as traders awaited the official signing of the US-China deal later today during North American hours. On the data front, UK releases took center stage with UK CPI printing cooler than expected at 1.3% vs. 1.5% eyed. The...

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Brexit: The End of the Beginning?

This is going to be a shorter Brexit post than I would like, but since the UK and EU are yet again in a jockeying and attempting-to-put-down-markers phase, the speculation to development ratio is high. You might have missed it between Iran and royals furors, but the Withdrawal Bill passed its third reading in the House on party lines and is expected to sail though Lords. •Harry and Meghan driven out by Royal British Media 👑•As you work till you die at 75 on 0hr contract Boris Johnson...

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Global Headwinds and Disinflationary Pressures

I’m going to go back to Mexico for the third day in a row. First it was imports (meaning Mexico’s exports) then automobile manufacturing and now Industrial Production. I’ll probably come back to this tomorrow when INEGI updates that last number for November 2019. For now, through October will do just fine, especially in light of where automobile production is headed (ICYMI, off the bottom of the charts). Mexico is, as I’ve been writing this week, the presumed winner of trade wars. You might...

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Will 2020’s First NFP Report Help the Dollar?

Will 2020’s First NFP Report Help the Dollar? Daily FX Market Roundup 01.09.20 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management It has been a good week so far for the US dollar and on the eve of the first employment report of the year, the greenback extended its gains against all of the major currencies. The rally was fueled by the record breaking moves in US stocks and encouraging words from Federal Reserve Presidents. Bullard for example sees a soft landing this...

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The Real Trade Dilemma

When I write that there are no winners around the world, what I mean is more comprehensive than just the trade wars. On that one narrow account, of course there are winners and losers. The Chinese are big losers, as the Census Bureau numbers plainly show (as well as China’s own). But even the winners of the trade wars find themselves wondering where all the spoils are. They may be winners because of it but somehow they all still end up in the losing column. Late in 2018, in response to the...

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