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Varoufakis Demoted in Reshuffle of Greece's Negotiating Team

April 27, 2015
The Eurogroup meeting before the weekend was particularly acrimonious.  Greek Finance Minister Varoufakis was isolated and demonized.  After intensifying their criticism of Varoufakis in the closed meeting, according to reporters, several carried their battle to the media. 
The Greek government responded.  Prime Minister Tsipras has announced a sh…
Varoufakis Demoted in Reshuffle of Greece's Negotiating Team Varoufakis Demoted in Reshuffle of Greece's Negotiating Team Reviewed by Marc Chandler on April 27, 2015 Rating: 5
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Emerging Markets: Preview of the Week Ahead

April 27, 2015
(from my colleagues Dr. Win Thin and Ilan Solot)

It is a mixed start of the week for EM, though the short-term outlook is constructive.  The rebound in commodity prices has changed relative risk perception across the producer-importer spectrum.  Iron ore, for example, is up some 25% since the start of the month while oil is up nearly 18% over the s…
Emerging Markets: Preview of the Week Ahead Emerging Markets: Preview of the Week Ahead Reviewed by Marc Chandler on April 27, 2015 Rating: 5
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Dollar Firmer in Quiet Turnover

April 27, 2015
With several central bank meetings this week, including the Federal Reserve, and Q1 GDP figures from the UK, US and Spain, and month end position adjustments, ahead of the May 1 holiday, it promises to be an eventful week.  However, it gets off to a slow start.  The US dollar is firmer, but largely confined to its pre-weekend ranges.   The US doll…
Dollar Firmer in Quiet Turnover Dollar Firmer in Quiet Turnover Reviewed by Marc Chandler on April 27, 2015 Rating: 5
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US Data and Fed to Drive the Dollar in the Week Ahead

April 26, 2015
Ideas the US economy had returned to a growth path that was sufficiently strong to permit the Federal Reserve to begin normalizing monetary policy have been challenged by the disappointing string of data.This will culminate with the first estimate of Q1 GDP on April 29.  There still seems to be some downside risk to the consensus of 1.0% annualize…
US Data and Fed to Drive the Dollar in the Week Ahead US Data and Fed to Drive the Dollar in the Week Ahead Reviewed by Marc Chandler on April 26, 2015 Rating: 5
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USD: Range or Trend?

April 25, 2015
The US dollar finished the week on seemingly fragile footing.The question investors are asking is if the steady drum beat of disappointing US economic data turns the dollar's bull case on its head.  The Europe and Japanese side of the divergence have not changed, but the US side has.  
On the other hand, theminus 20 bp deposit rate is not the f…
USD: Range or Trend? USD: Range or Trend? Reviewed by Marc Chandler on April 25, 2015 Rating: 5
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