Perhaps the timing might be questionable but China trade surplus with the US dropped to $26.2 in Oct from $28.08. Interestingly US president trump will be traveling to Beijing today to meet Xi Jinping. Overall while exports dragged increasing 6.9% y/y from 8.1% (against 7...
Since the beginning of the week, G10 currencies were range bound. The lack of major news, both on the political and monetary policy sides, has caused a collapsed of volatility levels. The CVIX (Currency Volatility Index) eased to 6.87%, the lowest level since September 2014...
This morning has been released the Swiss FX reserves for October. The data increased strongly to $741.5 billion from $724.4billion. The reserves hit a clear record high...
Political risk have again picked up in Europe prompting a stark sell of in Euro. In Italy the center-right coalition led by former Italian Prime Minister Berlusconi solidly won regionals elections in Sicily...
The US dollar extended gains against all of G10 currencies on Tuesday. The gains were quite limited as investors awaited several key speeches today. Draghi will speak at GMT 9 am, while across the Atlantic Poloz (BoC) will give a press conference this evening...
NZD/USD paired losses on Monday morning as 2-year inflation expectations eased to 2.02% in the fourth quarter from 2.09% in the previous one. The Kiwi lost another 0.35% against the greenback and stabilised at around $0.6680...
A quiet start to the week as investors cautiously watching President Trump every move in Asia. With tensions so high and Trump uncanny ability to trigger controversy, traders are unwilling to further build bullish positions...
In 2007 around 25 percent of US equity funds were passively managed. Today that number is around 50 percent. Do economists care about the active versus passive debate? The instinctive answer is "no". However, the rise of passive investing since 2007 has been accompanied by other changes...
The central banks of Australia (RBA) and New Zealand (RBNZ) will meet next week to decide on their monetary policy stance. CIO doesn't expect a rate hike from the RBA until later next year, as it has to balance financial stability worries with weak wage growth and core inflation...
Price of gold remains above $1270. Since the start of the year, we recall that gold has gained almost 6% underlining global uncertainties. It is important to assess gold’s potential by looking at China as a significant part of the market takes place in China...
Oil prices are looking to break resistance at $55.03 making 2017 new highs. Decline oil stocks and solid growth in demand has overcome weather and geopolitical issues. Brent is now trading above $60brl and futures backwardation has invited deeper buying in the long end of the curve...
The nomination of Jerome Powell as next Federal Reserve Chairman came as no surprise. The US dollar barely reacted to the news. The US Dollar Index treaded water within its weekly range, between 94.4 and 95...
That was clearly not a surprise. Fed hold rates unchanged and has hinted for a December rate hike. The key rate stays at 1% to 1.25% of the FOMC. The likelihood of a rate hike for December has now been assessed by markets above 92...
t widely expected (Rates markets are pricing in a 90% probability of a hike) the Bank of England (BoE) Monetary Policy Committee will hike policy rates 25bp after 10 years. We are expecting MPC 7-2 vote split with committee members Cunliffe and Ramsden dissenting for a no action...
(01 NOVEMBER 2017)DAILY MARKET BRIEF 2:High expectations for the US ADP data before the FOMC meeting
Today we get US labor ADP data ahead of the NFP report on Friday. Bloomberg Survey indicates new jobs creation for October of 200k compared to the prior September read of 135k. The overall sentiment is positive and it has been 7 years that the data print positive...
Switzerland Manufacturing PMI came in at 62.0 from 61.7 and 0.7 higher than expectations. This continued a strong trend of economic improvement in manufacturing reaching the highest level since 2011. Last week Kof leading indicators jumped to 109.1 from 105.8...
As was widely expected the BoJ held its policy strategy unchanged. The vote was 8-1 with the lone dissenter (policy board member Goushi Kataoka) voting for additional easing measures such as examining 10 year 0.0% and 15 year 0.20% yield targets...
The Swiss National Bank published interim results for the first three quarters of the year. After mixed mid-year results - the SNB reported an interim profit of CHF 1.2 billion - the last update brought the smile back to the SNB and all Swiss cantons...
The WTI crude oil price has broken its resistance area around 53$. The commodity is now trading above $54. This increase appears after the World Bank, in its last report, is predicting an increase in price for 2018. The World Bank target is $56 for next year...
