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Dollar Softer, Consolidating Recent Gains

January 27, 2015
The US dollar is sporting a slightly softer profile, but the price action is really more of a consolidation than a trend reversal. The euro has gained nearly 0.5% today but remains well last Friday's high of about $1.1375.   
The euro's gains late yesterday and earlier today were partly fueled by signs that the Swiss National Bank had inter…
Dollar Softer, Consolidating Recent Gains Dollar Softer, Consolidating Recent Gains Reviewed by Marc Chandler on January 27, 2015 Rating: 5
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Great Graphic: Shouldn't the ECB Target Core Inflation?

January 26, 2015
This Great Graphic is composed on Bloomberg.  It shows two time series.  The headline CPI is the white line.  It has gone negative, and when the flash estimate for January is released at the end of the week, it is likely to have fallen further.  The Bloomberg consensus is for a -0.5% reading.  
The other time series, the yellow line, shows core inf…
Great Graphic: Shouldn't the ECB Target Core Inflation? Great Graphic: Shouldn't the ECB Target Core Inflation? Reviewed by Marc Chandler on January 26, 2015 Rating: 5
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Emerging Markets: Preview of the Week Ahead

January 26, 2015
(from my colleagues Dr. Win Thin and Ilan Solot)

Emerging markets seem to be on a slightly better footing after a few turbulent weeks. Many EM currencies were able to appreciate against the dollar in the wake of the ECB’s QE announcement, despite most major currencies depreciating. Meanwhile, EM fixed income markets were able to benefit from the tr…
Emerging Markets: Preview of the Week Ahead Emerging Markets: Preview of the Week Ahead Reviewed by Marc Chandler on January 26, 2015 Rating: 5
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Syriza's Victory is Not the End but the Beginning

January 26, 2015
As the demonizing of Syriza gives way to post-electoral analysis, its victory is being seen as anti-austerity not anti-EMU. Politics makes for strange bedfellows, and a small conservative party Independent Greeks, have agreed in principle to form a coalition.   The period of political uncertainty that was a clear risk will not materialize, and a n…
Syriza's Victory is Not the End but the Beginning Syriza's Victory is Not the End but the Beginning Reviewed by Marc Chandler on January 26, 2015 Rating: 5
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Looking at the Week Ahead

January 25, 2015
Reasonable people can debate some of the details, but there was little doubt that last week's big event, the ECB's asset purchases, was widely anticipated. Nevertheless, what is striking is the repeated surprises by officials over the past several months. 
Perhaps it began at the end of last October with the Bank of Japan's 5-4 vote to …
Looking at the Week Ahead Looking at the Week Ahead Reviewed by Marc Chandler on January 25, 2015 Rating: 5
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