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Position Adjustment Ahead of BOE and ECB

March 07, 2013
The US dollar's gains, scored in North America yesterday, with the help of stronger than expected data,  have been returned, except against the pound, which remains on its back foot.  News that S&P was changing its rating outlook for Portugal from negative to stable may have helped spur some euro buying.  However, the wider than expected …
Position Adjustment Ahead of BOE and ECB Position Adjustment Ahead of BOE and ECB Reviewed by Marc Chandler on March 07, 2013 Rating: 5
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UK Politics and the BOE

March 06, 2013
Of the major central banks meeting this week, the Bank of England seems the most likely to alter policy.  It would not be exactly surprising as three members of the MPC including the governor voted to resume gilt purchases last month.  
Most data, outside some housing price indices and the CIPS service sector survey, warns that the UK economy has…
UK Politics and the BOE UK Politics and the BOE Reviewed by Marc Chandler on March 06, 2013 Rating: 5
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Three Unorthodox Views

March 06, 2013
In separate pieces we have sketched three views that are outside the consensus. We thought it would be helpful to pull them together into one note.
1. Resilience of the US economy: Many fear that the end of the payroll savings tax holiday and the sequester will undermine the US economy and, possibly, push it back into a recession, after a pitifu…
Three Unorthodox Views Three Unorthodox Views Reviewed by Marc Chandler on March 06, 2013 Rating: 5
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FX Rangebound Ahead of Key Events; Dollar-Bloc in Focus

March 06, 2013
The US dollar is confined to the well worn ranges of recent days. With a couple of brief exceptions, the euro, sterling and the yen continue to trade within the ranges set last Friday. The main events of the week--the ECB and BOE meetings and the US jobs report, still lay ahead.

In addition to the continued rally in global equities, the other no…
FX Rangebound Ahead of Key Events; Dollar-Bloc in Focus FX Rangebound Ahead of Key Events; Dollar-Bloc in Focus Reviewed by Marc Chandler on March 06, 2013 Rating: 5
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Great Graphic: US Oil Output Surpassed Saudi's

March 05, 2013
This Great Graphic comes from Mark Perry's Carpe Diem blog, which I saw on the American Enterprise Institute website.   It shows that last November, the US oil production surpassed Saudi Arabia for the first time in almost a decade. 
Perry notes that the Energy Information Administration notes that last year the Saudi Arabia's was the la…
Great Graphic: US Oil Output Surpassed Saudi's Great Graphic: US Oil Output Surpassed Saudi's Reviewed by Marc Chandler on March 05, 2013 Rating: 5
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