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Euro Observations

February 03, 2011
I have been skeptical of the euro's rally in recent weeks, fueled by a shift in interest rate expectations and confidence that European officials are going to come up with a "comprehensive plan" to arrest the more than a year old debt crisis. However, there have been few signs that selling the euro was a low risk venture. Today could…
Euro Observations Euro Observations Reviewed by Marc Chandler on February 03, 2011 Rating: 5
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Euro Eases Ahead of ECB Press Conference

February 03, 2011
The consoldiative tone in the euro appears to be more a function of caution ahead of Trichet's press conference following the ECB meeting. The January service PMI rose to 55.9 from 55.2 of the flash reading and 54.2 in Dec. Coupled with the strength of the manufacturing PMI earlier in the week, a broadening of the euro zone recovery would seem…
Euro Eases Ahead of ECB Press Conference Euro Eases Ahead of ECB Press Conference Reviewed by Marc Chandler on February 03, 2011 Rating: 5
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Some Thoughts about US Autos and Manufacturing

February 02, 2011
Currency analysis often focuses on the macro economics and does not delve into sectoral performance. Yet what is happening in the auto sector looks promising and is in fact impacting the macro economic variables. The first clue was actually in Q4 GDP figures. Household purchases of durable goods is very cyclical. This jumped in Q4 and consumption…
Some Thoughts about US Autos and Manufacturing Some Thoughts about US Autos and Manufacturing Reviewed by Marc Chandler on February 02, 2011 Rating: 5
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Understanding the FX Drivers

February 02, 2011
Many investors are concluding that the Federal Reserve will lag not only many emerging markets, but also a wider number of European countries. Yesterday’s PMIs drive home the point that growth at the start of the New Year is accelerating. This helps embolden the risk appetite at the same time that the market is being told by European officials tha…
Understanding the FX Drivers Understanding the FX Drivers Reviewed by Marc Chandler on February 02, 2011 Rating: 5
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Highlights for Groundhog's Day

February 02, 2011
The US dollar remains under pressure in the foreign exchange market, driven by its resumption as a financing currency as growth and inflation raise prospects of BOE and ECB rate hikes while the Federal Reserve is still committed easing monetary conditions.
At the same time, investors growing more confident that officials will address the periphera…
Highlights for Groundhog's Day Highlights for Groundhog's Day Reviewed by Marc Chandler on February 02, 2011 Rating: 5
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