Edit
) no-repeat top center;background-size:cover'>

Friday's Drivers: Japan and IFO

September 24, 2010
Japan’s markets re-opened earlier today after yesterday’s holiday. Given the recovery of the yen in recent trading, the market was particularly sensitive to the threat of intervention.
After a quiet start to the Asian session two things happened around the same time. First, Reuters reported talk that the BOJ Governor was preparing to resign. This …
Friday's Drivers: Japan and IFO Friday's Drivers: Japan and IFO Reviewed by Marc Chandler on September 24, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Dollar Heavy

September 24, 2010
The US dollar is broadly weaker as the week draws to a close. The feature during Asian hours was speculation of BOJ intervention and rumors that the governor of the BOJ was going to resign. The dollar rallied to JPY85.40 before returning to the JPY84.20 area, new marginal lows since last week’s intervention.
Dollar Heavy Dollar Heavy Reviewed by Marc Chandler on September 24, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Zloty Leads EMEA Lower

September 23, 2010
The Polish zloty is the weakest of the central and east European currencies today. News that the cental bank had considered hiking rates 50 bp at its last meeting, but decided to leave rates steady last month at the record low 3.5%, has spooked the Polish bond market and this in turn is weighing on the stock market, pushing it down from five month…
Zloty Leads EMEA Lower Zloty Leads EMEA Lower Reviewed by Marc Chandler on September 23, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Color on Weekly Jobless Claims

September 23, 2010
The weekly jobless claims are not often the stuff that moves the foreign exchange market, but the disappointment with today's data is noteworthy and hitting the the fx market as the foreign currencies began recovering from the profit-taking earlier today.
What makes today's report particularly important is that it coincides with week that …
Color on Weekly Jobless Claims Color on Weekly Jobless Claims Reviewed by Marc Chandler on September 23, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Europe, Australia, China

September 23, 2010
The most important economic report today was the euro zone’s flash September PMI. It was weaker than expected and suggests that market participants may not have adjusted their expectations adequately after the robust growth posted by the region in Q2. Manufacturing reading came in at 53.6, down from 55.0 in August. The consensus had expected a mil…
Europe, Australia, China Europe, Australia, China Reviewed by Marc Chandler on September 23, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Dollar Enjoys Upside Correction, Look to Fade

September 23, 2010
The US dollar is recouping some of its recent losses against most of the major and emerging market currencies. Softer than expected New Zealand GDP, followed by the disappointing euro zone flash PMI, the renewed widening of interest rate spreads in Europe and heavier tone in the equity markets appears to have helped spark what appears to be largel…
Dollar Enjoys Upside Correction, Look to Fade Dollar Enjoys Upside Correction, Look to Fade Reviewed by Marc Chandler on September 23, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

China, Japan and the US

September 22, 2010
US President Obama is scheduled to meet Chinese Premier Wen tomorrow on the sidelines of the UN meeting. Reports also suggest a bilateral meeting with Japanese Prime Minister Kan may take place.
Even though the meetings will be separate, the heads of state of the three largest economies in the world will meet. There is much focus on the yuan and s…
China, Japan and the US China, Japan and the US Reviewed by Marc Chandler on September 22, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Asian Currencies Rock

September 22, 2010
Excuse the pun, I'm may be getting up there in age, but I still think I have a sense of humor.
Holidays in Taiwan, China and South Korea closed those local markets but this simply shifted global investors focus to Malaysia, Thailand and Singapore.
The ringgit and baht recorded new 13-year highs, while the Singapore dollar made new record highs…
Asian Currencies Rock Asian Currencies Rock Reviewed by Marc Chandler on September 22, 2010 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Fed and the Dollar

September 22, 2010
Several forces had begun working against the US dollar over the past couple of weeks. Our work has tended to emphasize the sifting interest rate differentials, market positioning and technical factors. The FOMC statement further pushes the market in the direction it was already headed.
The market’s response to the FOMC statement, taking 10-year Tr…
Fed and the Dollar Fed and the Dollar Reviewed by Marc Chandler on September 22, 2010 Rating: 5
Powered by Blogger.