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Taiwan: Low Inflation in Region, Buys Central Bank Time

April 06, 2010
Taiwan reported lower than expected March inflation earlier today and this solidifies Taiwan's position as a low inflation country in a region that is experiencing higher inflation and prompting central banks to tighten monetary conditions. Malaysia and India have already hiked rates. Through increases in the required reserves and administrati…
Taiwan: Low Inflation in Region, Buys Central Bank Time Taiwan: Low Inflation in Region, Buys Central Bank Time Reviewed by Marc Chandler on April 06, 2010 Rating: 5
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Greece Returns with Vengeance

April 06, 2010
The US dollar is enjoying broad gains today as the Greece’s fiscal woes have returned with vengeance. Market News International reports that having been given some idea of what an IMF program could entail is now looking for support excluding. The sharp backing up in Greek yields plays on market fears over the country’s ability to secure financing …
Greece Returns with Vengeance Greece Returns with Vengeance Reviewed by Marc Chandler on April 06, 2010 Rating: 5
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USD Responds Well to Better than Expected Data

April 05, 2010
For most of last year, it seemed that better US economic data was often greeted with a weaker dollar on ideas that it encouraged the risk-on trades, which involved selling the greenback. Last week's US jobs data were generally favorable, especially given the back month revisions and the longer work week and the dollar advanced. Today the stron…
USD Responds Well to Better than Expected Data USD Responds Well to Better than Expected Data Reviewed by Marc Chandler on April 05, 2010 Rating: 5
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Brazil Update: Meirelles Stays, BRL Firm

April 05, 2010
Brazil's central bank President Henrique Meirelles has decided to resist the temptation of politics and will stay at his post. Speculation that Meirelles would step down may have been a slight negative for the Brazilian real, which has lost almost 0.9% against the US dollar this year.
The outlook for monetary policy is largely the same, even …
Brazil Update: Meirelles Stays, BRL Firm Brazil Update: Meirelles Stays, BRL Firm Reviewed by Marc Chandler on April 05, 2010 Rating: 5
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Monday Morning Quarterback

April 05, 2010
The US dollar is mixed to start the week, though market conditions remain thin due to the holiday. The constructive employment report before the weekend has kept the greenback bid against the euro and Swiss franc. Opinion polls in the UK suggest the Tory Party may be pulling ahead, with an election announcement expected as early as tomorrow. The d…
Monday Morning Quarterback Monday Morning Quarterback Reviewed by Marc Chandler on April 05, 2010 Rating: 5
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Generally Good News for US Economy, but USD May Still Weaken

April 02, 2010
The 162k rise in March non-farm payrolls was a little below expectations but the Feb series was revised to a loss of 14k rather than a loss of 36k. The unemployment rate was steady at 9.7%. 
The private sector added 123k jobs and this was a bit better than expected. Feb's initial 18k loss was revised to +8k. The average private sector job growt…
Generally Good News for US Economy, but USD May Still Weaken Generally Good News for US Economy, but USD May Still Weaken Reviewed by Marc Chandler on April 02, 2010 Rating: 5
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Holiday Pre-Jobs Data Note

April 02, 2010
Asia: Asian equities rallied on improving global growth prospects, with the MSCI Asia-Pacific Index advancing for its 6th consecutive session. The 0.3% rise puts the index at its highest level since mid-Jan. Of note, the Nikkei closed almost 0.4% higher, for a 2.7% rise on the week to new six month highs. Leading sectors including oil & gas, t…
Holiday Pre-Jobs Data Note Holiday Pre-Jobs Data Note Reviewed by Marc Chandler on April 02, 2010 Rating: 5
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What to Make of the Swiss Franc

April 01, 2010
The SNB's apparent absence had emboldened the market, which has driven the euro to record lows against the Swiss franc. The SNB had been clear. It was still closely monitoring the Swiss franc even though it acknowledged that at some point its QE would end. The Swiss reported a very strong PMI earlier today and the market was returning to its r…
What to Make of the Swiss Franc What to Make of the Swiss Franc Reviewed by Marc Chandler on April 01, 2010 Rating: 5
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Euro and Stocks--Shifting Sands

April 01, 2010
My hypothesis is that the risk-on/risk-off matrix that seemed to dominate market development during much of the crisis is breaking down. I suspect it is being replaced by a greater emphasis on country specific macro-economic developments that we place under the rubric of the closure of the output gap.
Euro and Stocks--Shifting Sands Euro and Stocks--Shifting Sands Reviewed by Marc Chandler on April 01, 2010 Rating: 5
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