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RBA Joins Parade and Market Likes Greek Proposals

February 03, 2015
The Reserve Bank of Australia joined the chorus of central banks to ease policy.  The 25 bp rate cut was not a major surprise but it did catch many a bit off-guard as recent data and the pace of the Australian dollar's decline had prompted many to push out the expectation to next month. 
Although more details will be in the monetary policy rev…
RBA Joins Parade and Market Likes Greek Proposals RBA Joins Parade and Market Likes Greek Proposals Reviewed by Marc Chandler on February 03, 2015 Rating: 5
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Trying to Wrap Your Head around the SNB and Denmark?

February 02, 2015
When the Swiss National Bank lifted its cap on the franc, many thought they understood the message.  It had reached the end of its rope.  Some suggested the ownership structure of the SNB (owned by the Swiss cantons and individuals vs the stock exchange) opposed a further expansion of the its balance sheet (~80% of GDP vs ~20-25% in the UK and US …
Trying to Wrap Your Head around the SNB and Denmark? Trying to Wrap Your Head around the SNB and Denmark?  Reviewed by Marc Chandler on February 02, 2015 Rating: 5
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Emerging Market Preview: Week Ahead

February 02, 2015
(from my colleagues Dr. Win Thin and Ilan Solot)
Waning risk appetite along with growing uncertainty in Europe about Greece have set up emerging markets for a difficult week. In addition, the wave of monetary policy easing and expectations for further easing by EM central banks has removed another buffer against further currency depreciation. This …
Emerging Market Preview: Week Ahead Emerging Market Preview:  Week Ahead Reviewed by Marc Chandler on February 02, 2015 Rating: 5
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Dollar Consolidates in Choppy Activity

February 02, 2015
The US dollar is mixed.  It has recovered from an early spike to JPY116.65 in early Asia to tested the JPY117.80 area.  The euro briefly dipped below $1.1300 before Spanish and Italian PMIs surprised on the upside.  Sterling bounced on a stronger PMI report but hit a wall of selling that pushed it back toward $1.50 before bids returned.  The dolla…
Dollar Consolidates in Choppy Activity Dollar Consolidates in Choppy Activity Reviewed by Marc Chandler on February 02, 2015 Rating: 5
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Dollar Drivers

February 01, 2015
The bull case for the US dollar rests on two legs.The first is that the policy response to the crisis has produced superior economic results in the US that would lead to the Fed raising rates later this year. The second was the ongoing challenges faced by Europe and Japan.  For several months both legs had strengthened.
A combination of factors has…
Dollar Drivers Dollar Drivers Reviewed by Marc Chandler on February 01, 2015 Rating: 5
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