As we had expected the SNB held policy rate at -0.75% and reiterated wiliness to intervene in FX markets for benefit of the overvalued franc...
Abqaiq sits at the heart of the Saudi energy system, with most of the oil produced in the kingdom processed there. Saudi Arabia holds nearly 70% of the global spare capacity...
While the position netted a modest gain, we see further profit potential as limited. We now believe the Federal Reserve will be willing to cut rates more decisively than we expected when we adopted the trade in early June because its outlook for US growth has moderated...
It seems to be a rather Dovish bias communicated by the Reserve Bank of Australia in its minutes of the meeting of 3 September 2019...
The oil-related sell-off following the weekend's attack on Saudi Arabia facilities is already losing steam. On Sep 14th, coordinated attacks using drone technology were carried out on oil facilities in Saudi Arabia...
Not surprisingly, former vice-president Biden tried to occupy the political center with an impassioned plea to offer Americans a choice between private sector coverage and an optional health care plan provided by the federal government...
A recent survey conducted by Preqin showed that 74% of investors believe we are at the peak of the equity market cycle. However, 88% answered they will maintain or increase private equity investments in response to the equity cycle (Preqin Investor Update Alternative Assets 2H19...
Japan not too long ago imposed sure limitations on exports to South Korea...
The recent events of the week have been taken largely positively to the detriment of haven assets though...
The easing cycle is alive and well in EM counties with Turkey moving forward with a significant reduction. In an unexpected move, the Central banks of Turkey chopped its benchmark one-week repo rate by 325bp. The policy rate now stands at 16.5% from 19...
Investors seem to have enough arguments to support risk appetite. The long-awaited ECB meeting along with fresh headlines from both the US and China are boosting equities which are set for another weekly gain...
In Turkey, we expect the CBRT to over-deliver with a policy rate cut of 257bp on Thursday. After the initial 425bp cut in July, inflation dynamics have improved while the currency relative stability and global low-interest rates have provided a backdrop for the CBRT to chop rates...
The latest batch of European data does not paint a bright picture of the economy. The first signs of weakness came from German when manufacturing PMIs dropped below the 50 threshold and economic growth contracted in the second quarter...
Markets are extruding a bit of skepticism and exhaustion when it comes to US-China trade negotiations. US Treasury Secretary Steven Mnuchin sound positive in remarks on trade talks yesterday stating they have “made a lot of progress”...
Market participants headed into the weekend with mixed news. From the US labor report, NFP data came in slightly weaker than expected consistent with recent slowdown...
The last batch of economic data from Germany points towards further pain. July’s industrial production came in well below estimates this morning. The gauge contracted 0.6%m/m while market participants expected a monthly increase of 0.4%. On the bright side, the June’s 1...
Yesterday, solid US non-manufacturing ISM supported growing risk appetite alongside easing U.S. China trade tensions. Global bond markets are correcting, equity markets are higher and safe-haven currencies in USD, JPY and CHF are weaker...
Pivot (invalidation): 1.1050 Our preference Short positions below 1.1050 with targets at 1.1020 & 1.1005 in extension. Alternative scenario...
Forecasting Brexit has gone from hard to impossible. The fluid, politically charged situation means probability scenario changes with the news cycle. Time like this we would just like some popcorn to watch the action from the sidelines...
